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        <name>City of Detroit MI</name>
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      <invstOrSec>
        <name>Commonwealth of Massachusetts</name>
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      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Florida Development Finance Corp</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <curCd>USD</curCd>
        <valUSD>398412.00000000</valUSD>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584YGR4</cusip>
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          <isin value="US57584YGR45"/>
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        <name>Barclays Bank PLC</name>
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      <invstOrSec>
        <name>County of Miami-Dade FL Aviation Revenue</name>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Massachusetts Port Authority</name>
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        <name>Commonwealth of Massachusetts</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>MASSACHUSETTS ST</title>
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          <couponKind>Fixed</couponKind>
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        <name>Massachusetts Water Resources Authority</name>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Bristol Industrial Development Board</name>
        <lei>N/A</lei>
        <title>BRISTOL TN INDL DEV BRD ST SALES TAX REVENUE</title>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
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        <name>Public Finance Authority</name>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
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        <balance>1500000.00000000</balance>
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        <securityLending>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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        <cusip>57584XPV7</cusip>
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          <isin value="US57584XPV72"/>
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        <curCd>USD</curCd>
        <valUSD>2429721.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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        <cusip>57584YQJ1</cusip>
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          <isin value="US57584YQJ19"/>
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        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>American Samoa Economic Development Authority</name>
        <lei>N/A</lei>
        <title>AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE</title>
        <cusip>02936TAG6</cusip>
        <identifiers>
          <isin value="US02936TAG67"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>521604.45000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.13000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Health &amp; Educational Facilities Authority</name>
        <lei>549300MV50RWQFTX5223</lei>
        <title>MASSACHUSETTS ST HLTH &amp; EDUCTNL FACS AUTH REVENUE</title>
        <cusip>57586EQ61</cusip>
        <identifiers>
          <isin value="US57586EQ610"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>210642.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584XM40</cusip>
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          <isin value="US57584XM408"/>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LCH Limited</name>
        <lei>F226TOH6YD6XJB17KS62</lei>
        <title>Long: BS1X1T2   IRS USD R V 12MUSCPI IS1X1U3 CCPINFLATIONZERO / Short: BS1X1T2   IRS USD P F  1.67050 IS1X1T2 CCPINFLATIONZERO</title>
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          <other otherDesc="Internal Identifier" value="99S1BH1U4"/>
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        <valUSD>3935.31000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
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        <issuerConditional desc="derivative" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>LCH Limited</counterpartyName>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="US CPI Urban Consumers NSA" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Water Resources Authority</name>
        <lei>549300GBS2G3YGHOYO19</lei>
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          <isin value="US576051CW49"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
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        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
        <title>PUERTO RICO HIGHWAY &amp; TRANSPRTN AUTH TRANSPRTN REVENUE</title>
        <cusip>745190ZR2</cusip>
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          <isin value="US745190ZR26"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>292557.20000000</valUSD>
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          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp</name>
        <lei>N/A</lei>
        <title>GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT</title>
        <cusip>38122NZU9</cusip>
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          <isin value="US38122NZU98"/>
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        <curCd>USD</curCd>
        <valUSD>899876.25000000</valUSD>
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        <invCountry>US</invCountry>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <cusip>74529JRH0</cusip>
        <identifiers>
          <isin value="US74529JRH04"/>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Envirml Ctl Facs Fing Auth</name>
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        <name>LCH Limited</name>
        <lei>F226TOH6YD6XJB17KS62</lei>
        <title>Long: BS1V7M1   IRS USD R V 12MUSCPI IS1V7N2 CCPINFLATIONZERO / Short: BS1V7M1   IRS USD P F  1.69000 IS1V7M1 CCPINFLATIONZERO</title>
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        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>MET TRANSPRTN AUTH NY REVENUE</title>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA ST STWD CMNTYS DEV AUTH REVENUE</title>
        <cusip>130795WJ2</cusip>
        <identifiers>
          <isin value="US130795WJ23"/>
        </identifiers>
        <balance>360000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>361227.60000000</valUSD>
        <pctVal>0.167593073813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>Long: BS1L743   IRS USD R V 03MLIBOR IS1L754 CCPVANILLA / Short: BS1L743   IRS USD P F  3.02200 IS1L743 CCPVANILLA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="99S114ZC7"/>
        </identifiers>
        <balance>19615000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-3829157.29000000</valUSD>
        <pctVal>-1.77655373052</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Chicago Mercantile Exchange</counterpartyName>
              <counterpartyLei>SNZ2OJLFK8MNNCLQOF39</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>ICE Libor USD 3 Months</indexName>
                <indexIdentifier>US0003M Index</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="ICE Libor USD 3 Months" floatingRtSpread="0.00000000" pmntAmt="70894.63000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
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            </floatingRecDesc>
            <fixedPmntDesc amount="-100413.79000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="3.02200000"/>
            <terminationDt>2039-04-01</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>19615000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-3829157.29000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
        <lei>N/A</lei>
        <title>OHIO ST WTR DEV AUTH WTR POLLCONTROL REVENUE</title>
        <cusip>67766WXM9</cusip>
        <identifiers>
          <isin value="US67766WXM99"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>643500.00000000</valUSD>
        <pctVal>0.298554548432</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>Floating</couponKind>
          <annualizedRt>4.38000000</annualizedRt>
          <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 Electric Power Authority</name>
        <lei>5493003BRB67HF8ST418</lei>
        <title>PUERTO RICO ELEC PWR AUTH PWR REVENUE</title>
        <cusip>74526QPP1</cusip>
        <identifiers>
          <isin value="US74526QPP18"/>
        </identifiers>
        <balance>240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269704.80000000</valUSD>
        <pctVal>0.125130683409</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>5.25000000</annualizedRt>
          <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 ST DEV FIN AGY REVENUE</title>
        <cusip>57584XYD7</cusip>
        <identifiers>
          <isin value="US57584XYD73"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3597225.00000000</valUSD>
        <pctVal>1.668947762989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <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 ST DEV FIN AGY REVENUE</title>
        <cusip>57583USC3</cusip>
        <identifiers>
          <isin value="US57583USC35"/>
        </identifiers>
        <balance>1720000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1857359.20000000</valUSD>
        <pctVal>0.861729661588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Salt Verde Financial Corp</name>
        <lei>549300VEWOZY6TQOIF03</lei>
        <title>SALT VERDE AZ FINANCIAL CORP SENIOR GAS REVENUE</title>
        <cusip>79575EAS7</cusip>
        <identifiers>
          <isin value="US79575EAS72"/>
        </identifiers>
        <balance>660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>880050.60000000</valUSD>
        <pctVal>0.408303200435</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>5.00000000</annualizedRt>
          <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 ST DEV FIN AGY REVENUE</title>
        <cusip>57583UER5</cusip>
        <identifiers>
          <isin value="US57583UER59"/>
        </identifiers>
        <balance>1650000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1741228.50000000</valUSD>
        <pctVal>0.807850331833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <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 Massachusetts Building Authority</name>
        <lei>6ILE2573NPR1XO2TR556</lei>
        <title>UNIV OF MASSACHUSETTS MA BLDG AUTH REVENUE</title>
        <cusip>914437TD0</cusip>
        <identifiers>
          <isin value="US914437TD09"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3096200.00000000</valUSD>
        <pctVal>1.436495093792</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>5.00000000</annualizedRt>
          <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 ST DEV FIN AGY REVENUE</title>
        <cusip>57584XD40</cusip>
        <identifiers>
          <isin value="US57584XD407"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1161130.00000000</valUSD>
        <pctVal>0.538711177655</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>5.00000000</annualizedRt>
          <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 Sports &amp; Tourism Authority</name>
        <lei>N/A</lei>
        <title>ARIZONA ST SPORTS &amp; TOURISM AUTH SENIOR REVENUE</title>
        <cusip>040583BK1</cusip>
        <identifiers>
          <isin value="US040583BK14"/>
        </identifiers>
        <balance>4065000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4350037.80000000</valUSD>
        <pctVal>2.018218447617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase Bank, National Association</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>Long: IS1SOR6   IRS USD R V 12MUSCPI IS1SOS7 INFLATIONZERO / Short: IS1SOR6   IRS USD P F  2.16300 IS1SOR6 INFLATIONZERO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="99S181VL0"/>
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        <balance>7130000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-123323.47000000</valUSD>
        <pctVal>-0.05721644583</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>JPMorgan Chase Bank, National Association</counterpartyName>
              <counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>US CPI Urban Consumers NSA</indexName>
                <indexIdentifier>CPURNSA Index</indexIdentifier>
              </indexBasketInfo>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="US CPI Urban Consumers NSA" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="1921" resetDt="Day" resetDtUnit="1921"/>
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            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
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            <notionalAmt>7130000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-123323.47000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>University of Massachusetts Building Authority</name>
        <lei>6ILE2573NPR1XO2TR556</lei>
        <title>UNIV OF MASSACHUSETTS MA BLDGAUTH PROJ REVENUE</title>
        <cusip>914440PR7</cusip>
        <identifiers>
          <isin value="US914440PR77"/>
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        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2297220.00000000</valUSD>
        <pctVal>1.065804941335</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>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Puerto Rico Housing Finance Authority</name>
        <lei>N/A</lei>
        <title>PUERTO RICO HSG FIN AUTH</title>
        <cusip>74526LES8</cusip>
        <identifiers>
          <isin value="US74526LES88"/>
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        <balance>695000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>715704.05000000</valUSD>
        <pctVal>0.332053923012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584YQG7</cusip>
        <identifiers>
          <isin value="US57584YQG79"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1195980.00000000</valUSD>
        <pctVal>0.554879982647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LCH Limited</name>
        <lei>F226TOH6YD6XJB17KS62</lei>
        <title>Long: BS1U3J7   IRS USD R V 12MUSCPI IS1U3K8 CCPINFLATIONZERO / Short: BS1U3J7   IRS USD P F  1.76000 IS1U3J7 CCPINFLATIONZERO</title>
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      </invstOrSec>
      <invstOrSec>
        <name>Tuscaloosa County Industrial Development Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Barclays Bank PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
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          <isin value="US57583UQN18"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
        <lei>N/A</lei>
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        <cusip>74529JPX7</cusip>
        <identifiers>
          <isin value="US74529JPX71"/>
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        <balance>685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>718051.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57583UUT3</cusip>
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          <isin value="US57583UUT32"/>
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        <curCd>USD</curCd>
        <valUSD>1068270.00000000</valUSD>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Massachusetts Health &amp; Educational Facilities Authority</name>
        <lei>549300MV50RWQFTX5223</lei>
        <title>MASSACHUSETTS ST HLTH &amp; EDUCTNL FACS AUTH REVENUE</title>
        <cusip>57586ETM3</cusip>
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          <isin value="US57586ETM39"/>
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        <curCd>USD</curCd>
        <valUSD>5142050.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Guam Power Authority</name>
        <lei>549300IPOV320QCKW060</lei>
        <title>GUAM PWR AUTH REVENUE</title>
        <cusip>400653JL6</cusip>
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          <isin value="US400653JL65"/>
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        <balance>1420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1615874.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
        <lei>N/A</lei>
        <title>PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE</title>
        <cusip>74529JQD0</cusip>
        <identifiers>
          <isin value="US74529JQD09"/>
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        <valUSD>176005.76000000</valUSD>
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      <invstOrSec>
        <name>Massachusetts School Building Authority</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST SCH BLDG AUTH SALES TAX REVENUE</title>
        <cusip>576000PH0</cusip>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57583UEQ7</cusip>
        <identifiers>
          <isin value="US57583UEQ76"/>
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        <balance>1575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1662554.25000000</valUSD>
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        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57583UQP6</cusip>
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          <isin value="US57583UQP65"/>
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        <curCd>USD</curCd>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Alliance Bernstein</name>
        <lei>5493006YWHO7MNK2U579</lei>
        <title>AB Fixed Income Shares, Inc. - Government Money Market Portfolio</title>
        <cusip>018616748</cusip>
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        <assetCat>STIV</assetCat>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584XJ93</cusip>
        <identifiers>
          <isin value="US57584XJ933"/>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA ST FIN AUTH EXEMPT FAC REVENUE</title>
        <cusip>45470DAA5</cusip>
        <identifiers>
          <isin value="US45470DAA54"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>272332.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
        <title>PUERTO RICO HIGHWAY &amp; TRANSPRTN AUTH TRANSPRTN REVENUE</title>
        <cusip>745190ZS0</cusip>
        <identifiers>
          <isin value="US745190ZS09"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>314484.80000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Health &amp; Educational Facilities Authority</name>
        <lei>549300MV50RWQFTX5223</lei>
        <title>MASSACHUSETTS ST HLTH &amp; EDUCTNL FACS AUTH REVENUE</title>
        <cusip>57586ESW2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>Long: SS1KT33   IRS USD R F  3.08100 IS1KT33 CCPVANILLA / Short: SS1KT33   IRS USD P V 03MLIBOR IS1KT44 CCPVANILLA</title>
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        <name>Citibank, National Association</name>
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        <name>North Carolina Medical Care Commission</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>JPMorgan Chase Bank, National Association</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
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        <name>Massachusetts School Building Authority</name>
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        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
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        <name>Territory of Guam</name>
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        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
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        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584XNN7</cusip>
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          <isin value="US57584XNN74"/>
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        <curCd>USD</curCd>
        <valUSD>2855200.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</name>
        <lei>N/A</lei>
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        <cusip>74529JPV1</cusip>
        <identifiers>
          <isin value="US74529JPV16"/>
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        <curCd>USD</curCd>
        <valUSD>22720.06000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
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        <valUSD>-1049351.99000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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                <indexName>ICE Libor USD 3 Months</indexName>
                <indexIdentifier>US0003M Index</indexIdentifier>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts School Building Authority</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST SCH BLDG AUTH SALES TAX REVENUE</title>
        <cusip>576000QV8</cusip>
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          <isin value="US576000QV87"/>
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        <balance>3770000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584YNY1</cusip>
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          <isin value="US57584YNY13"/>
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        <balance>1795000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2269921.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584X4N8</cusip>
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          <isin value="US57584X4N80"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2198360.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Bay Transportation Authority</name>
        <lei>549300D2U0XBUXGX8P68</lei>
        <title>MASSACHUSETTS ST BAY TRANSPRTN AUTH SALES TAX REVENUE</title>
        <cusip>575579WR4</cusip>
        <identifiers>
          <isin value="US575579WR47"/>
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        <balance>645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>659177.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
        <title>PUERTO RICO HIGHWAY &amp; TRANSPRTN AUTH TRANSPRTN REVENUE</title>
        <cusip>745190UR7</cusip>
        <identifiers>
          <isin value="US745190UR70"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>178859.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57584YSJ9</cusip>
        <identifiers>
          <isin value="US57584YSJ90"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1681680.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>North Carolina Turnpike Authority</name>
        <lei>549300FCT1PN0GJGQ240</lei>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1189020.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57583USD1</cusip>
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          <isin value="US57583USD18"/>
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        <balance>2260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2423443.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Chicago Board of Education</name>
        <lei>54930099NR6T9V7LVB43</lei>
        <title>CHICAGO IL BRD OF EDU</title>
        <cusip>167505UX2</cusip>
        <identifiers>
          <isin value="US167505UX20"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>756379.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas Private Activity Bond Surface Transportation Corp</name>
        <lei>N/A</lei>
        <title>TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE</title>
        <cusip>882667AD0</cusip>
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          <isin value="US882667AD00"/>
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        <balance>1090000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>Puerto Rico Highway &amp; Transportation Authority</name>
        <lei>549300J6QBXVWJXB7Y41</lei>
        <title>PUERTO RICO HIGHWAY &amp; TRANSPRTN AUTH HIGHWAY REVENUE</title>
        <cusip>745181F85</cusip>
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          <isin value="US745181F855"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>126155.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Mission Economic Development Corp</name>
        <lei>N/A</lei>
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        <cusip>605156AC2</cusip>
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          <isin value="US605156AC20"/>
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        <balance>540000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.63000000</annualizedRt>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>MASSACHUSETTS ST DEV FIN AGY REVENUE</title>
        <cusip>57583U6R4</cusip>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Metropolitan Boston Transit Parking Corp</name>
        <lei>N/A</lei>
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        <cusip>59180CAF8</cusip>
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          <isin value="US59180CAF86"/>
        </identifiers>
        <balance>6000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6351840.00000000</valUSD>
        <pctVal>2.946963050370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <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 ST ECON DEV FINGAUTH REVENUE</title>
        <cusip>70869PHV2</cusip>
        <identifiers>
          <isin value="US70869PHV22"/>
        </identifiers>
        <balance>1140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1314511.20000000</valUSD>
        <pctVal>0.609873034537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <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 Private Activity Bond Surface Transportation Corp</name>
        <lei>N/A</lei>
        <title>TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE</title>
        <cusip>882667AB4</cusip>
        <identifiers>
          <isin value="US882667AB44"/>
        </identifiers>
        <balance>545000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>547430.70000000</valUSD>
        <pctVal>0.253982790110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.88000000</annualizedRt>
          <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 &amp; County of Denver CO</name>
        <lei>MMTY7HA2MSCBUO4F7J71</lei>
        <title>DENVER CITY &amp; CNTY CO SPL FACS ARPT REVENUE</title>
        <cusip>249271GV3</cusip>
        <identifiers>
          <isin value="US249271GV36"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1091330.00000000</valUSD>
        <pctVal>0.506327172246</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>5.00000000</annualizedRt>
          <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 ST DEV FIN AGY REVENUE</title>
        <cusip>57584XVS7</cusip>
        <identifiers>
          <isin value="US57584XVS79"/>
        </identifiers>
        <balance>2055000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2378539.20000000</valUSD>
        <pctVal>1.103533328335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Barclays Bank PLC</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>Long: IS1P9S3   IRS USD R V 12MUSCPI IS1P9T4 INFLATIONZERO / Short: IS1P9S3   IRS USD P F  2.20750 IS1P9S3 INFLATIONZERO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="99S14UWL9"/>
        </identifiers>
        <balance>6449000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-70432.24000000</valUSD>
        <pctVal>-0.03267733583</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>Barclays Bank PLC</counterpartyName>
              <counterpartyLei>G5GSEF7VJP5I7OUK5573</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>US CPI Urban Consumers NSA</indexName>
                <indexIdentifier>CPURNSA Index</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="US CPI Urban Consumers NSA" floatingRtSpread="0.00000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Day" rateTenorUnit="735" resetDt="Day" resetDtUnit="735"/>
              </rtResetTenors>
            </floatingRecDesc>
            <fixedPmntDesc amount="0.00000000" curCd="USD" fixedOrFloating="Fixed" fixedRt="2.20750000"/>
            <terminationDt>2020-10-15</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>6449000.00000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-70432.24000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="If the RIC is part of the securities lending authorization agreement and has engaged in securities lending, the cash collateral will be adjusted on the next business day to maintain the required collateral amount." noteItem="C.12.a"/>
      <explntrNote note="Effective November 7, 2019, all outstanding Class B shares of the Fund were converted to Class A shares." noteItem="B.5.a"/>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
      <explntrNote note="If the fund holds Capital Contingent Convertible Notes, conversion to an issuing bank's common stock occurs should its capital fall beneath a specified threshold. The conversion of debt to equity will rebalance the issuer's debt to equity ratio, but as this amount is not known until the contingent event's occurrence, question c.9.f.iv will be represented as 1." noteItem="C.9.f.iv"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2019-12-26</ncom:dateSigned>
      <ncom:nameOfApplicant>AB MUNICIPAL INCOME FUND II</ncom:nameOfApplicant>
      <ncom:signature>Joseph Mantineo</ncom:signature>
      <ncom:signerName>Joseph Mantineo</ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
