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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DAVIE FLA</name>
        <lei>N/A</lei>
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        <cusip>23867PBU1</cusip>
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          <isin value="US23867PBU12"/>
          <ticker value="DAVEDU"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2317180</valUSD>
        <pctVal>0.4138477441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY ARPTS COMMN</name>
        <lei>N/A</lei>
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        <cusip>79766DMB2</cusip>
        <identifiers>
          <isin value="US79766DMB28"/>
          <ticker value="SFOAPT"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4800080</valUSD>
        <pctVal>0.8572930370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DELAWARE CNTY PA INDL DEV AUTH</name>
        <lei>N/A</lei>
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        <cusip>246018FY6</cusip>
        <identifiers>
          <isin value="US246018FY61"/>
          <ticker value="DELDEV"/>
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        <balance>2500000</balance>
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        <curCd>USD</curCd>
        <valUSD>2532875</valUSD>
        <pctVal>0.4523708149</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPITAL TR AGY FLA</name>
        <lei>549300F49UWS7X0OGQ59</lei>
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        <cusip>14052WBB2</cusip>
        <identifiers>
          <isin value="US14052WBB28"/>
          <ticker value="CPTGEN"/>
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        <balance>2850000</balance>
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        <curCd>USD</curCd>
        <valUSD>2912044.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>5.350000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WARREN CNTY MISS</name>
        <lei>N/A</lei>
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        <cusip>935031AB0</cusip>
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          <isin value="US935031AB07"/>
          <ticker value="WARIMP"/>
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        <balance>2530000</balance>
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        <curCd>USD</curCd>
        <valUSD>2566001.9</valUSD>
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        <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>5.800000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARYLAND ST HEALTH &amp; HIGHER EDL FACS AUTH</name>
        <lei>N/A</lei>
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        <cusip>574218CH4</cusip>
        <identifiers>
          <isin value="US574218CH43"/>
          <ticker value="MDSMED"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2164340</valUSD>
        <pctVal>0.3865505599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARYLAND ST HEALTH &amp; HIGHER EDL FACS AUTH</name>
        <lei>N/A</lei>
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        <cusip>574218CG6</cusip>
        <identifiers>
          <isin value="US574218CG69"/>
          <ticker value="MDSMED"/>
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        <balance>1550000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KENTUCKY ECONOMIC DEV FIN AUTH</name>
        <lei>N/A</lei>
        <title>KENTUCKY ECONOMIC DEV FIN AUTH REF BDS 2015</title>
        <cusip>49126KHT1</cusip>
        <identifiers>
          <isin value="US49126KHT16"/>
          <ticker value="KYSDEV"/>
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        <balance>2500000</balance>
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        <curCd>USD</curCd>
        <valUSD>2814025</valUSD>
        <pctVal>0.5025841316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LUCAS CNTY OHIO HEALTH CARE FAC</name>
        <lei>N/A</lei>
        <title>LUCAS CNTY OHIO HEALTH CARE FAC REF IMPT BDS 2010</title>
        <cusip>549308BS2</cusip>
        <identifiers>
          <isin value="US549308BS28"/>
          <ticker value="LUCMED"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4188400</valUSD>
        <pctVal>0.7480471484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOUISIANA LOC GOVT ENVIRONMENTAL FACS &amp; CMNTY DEV AUTH</name>
        <lei>5493004WIZ1HV87IVF85</lei>
        <title>LOUISIANA LOC GOVT ENVIRONMENTAL FACS &amp; CMNTY DEV AUTH REV BDS 2010</title>
        <cusip>546282HW7</cusip>
        <identifiers>
          <isin value="US546282HW71"/>
          <ticker value="LASGOV"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2078360</valUSD>
        <pctVal>0.3711945543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RAILSPLITTER TOB SETTLEMENT AUTH</name>
        <lei>N/A</lei>
        <title>RAILSPLITTER TOB SETTLEMENT AUTH TOBACCO REV BDS 2010</title>
        <cusip>75076PAS4</cusip>
        <identifiers>
          <isin value="US75076PAS48"/>
          <ticker value="RAIGEN"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1061430</valUSD>
        <pctVal>0.1895711214</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RAILSPLITTER TOB SETTLEMENT AUTH</name>
        <lei>N/A</lei>
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        <cusip>75076PAT2</cusip>
        <identifiers>
          <isin value="US75076PAT21"/>
          <ticker value="RAIGEN"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2136540</valUSD>
        <pctVal>0.3815854872</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>6.000000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALABAMA ST PORT AUTH</name>
        <lei>N/A</lei>
        <title>ALABAMA ST PORT AUTH DOCKS FACILITY REV BDS 2010</title>
        <cusip>010604BS4</cusip>
        <identifiers>
          <isin value="US010604BS48"/>
          <ticker value="ALSTRN"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5181050</valUSD>
        <pctVal>0.9253341797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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      <invstOrSec>
        <name>TOLEDO-LUCAS CNTY OHIO PORT AUTH</name>
        <lei>549300H1LURZO4MT2Q75</lei>
        <title>TOLEDO-LUCAS CNTY OHIO PORT AUTH PORT FAC REF REV BDS 1992</title>
        <cusip>889260BT1</cusip>
        <identifiers>
          <isin value="US889260BT15"/>
          <ticker value="TOLTRN"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4350760</valUSD>
        <pctVal>0.7770446021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.450000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUN FIN AUTH REV BDS 2010A</title>
        <cusip>13048THG1</cusip>
        <identifiers>
          <isin value="US13048THG13"/>
          <ticker value="CASFIN"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1021980</valUSD>
        <pctVal>0.1825253616</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>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUN FIN AUTH REV BDS 2010A</title>
        <cusip>13048THF3</cusip>
        <identifiers>
          <isin value="US13048THF30"/>
          <ticker value="CASFIN"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2042940</valUSD>
        <pctVal>0.3648685516</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>6.125000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT FING CORP LA</name>
        <lei>N/A</lei>
        <title>TOBACCO SETTLEMENT FING CORP LA REF BDS 2013A</title>
        <cusip>88880PCF9</cusip>
        <identifiers>
          <isin value="US88880PCF99"/>
          <ticker value="TOBGEN"/>
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        <balance>1610000</balance>
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        <curCd>USD</curCd>
        <valUSD>1613107.3</valUSD>
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        <name>PHOENIX ARIZ INDL DEV AUTH</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS</name>
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        <fairValLevel>2</fairValLevel>
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        <cusip>592250DM3</cusip>
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        <name>PHOENIX ARIZ INDL DEV AUTH</name>
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        <name>CALIFORNIA SCH FIN AUTH</name>
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        <name>GRAND RAPIDS MICH ECONOMIC DEV CORP</name>
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        <name>DISTRICT COLUMBIA</name>
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          <isin value="US25483VCY83"/>
          <ticker value="DISREV"/>
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        <balance>5265000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>VIGO CNTY IND HOSP AUTH</name>
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        <name>PHILADELPHIA PA AUTH</name>
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          <ticker value="PHIDEV"/>
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        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <name>ILLINOIS FIN AUTH</name>
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          <isin value="US45204EFB92"/>
          <ticker value="ILSGEN"/>
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        <name>GOLDEN ST TOB SECURITIZATION CORP CALIF</name>
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        <name>CALIFORNIA PUB FIN AUTH</name>
        <lei>N/A</lei>
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          <isin value="US13057KAC45"/>
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        <name>CLIFTON TEX HIGHER ED FIN CORP</name>
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        <name>NORTH CAROLINA MED CARE COMMN RETIREMENT FACS</name>
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        <name>PORT AUTH N Y &amp; N J</name>
        <lei>54930006MR4KZ4W74Z83</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <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>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH BDS N</title>
        <cusip>20775DDY5</cusip>
        <identifiers>
          <isin value="US20775DDY58"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1595580</valUSD>
        <pctVal>0.2849701721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MISSOURI ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>N/A</lei>
        <title>MISSOURI ST HEALTH &amp; EDL FACS AUTH BDS 2019</title>
        <cusip>60637ARB0</cusip>
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          <isin value="US60637ARB07"/>
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        <balance>1145000</balance>
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        <curCd>USD</curCd>
        <valUSD>1359447.05</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OKLAHOMA DEV FIN AUTH</name>
        <lei>549300PXGPHUWC32DJ91</lei>
        <title>OKLAHOMA DEV FIN AUTH REF BDS 2019</title>
        <cusip>6789083T9</cusip>
        <identifiers>
          <isin value="US6789083T98"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3353880</valUSD>
        <pctVal>0.5990020939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MISSOURI ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>N/A</lei>
        <title>MISSOURI ST HEALTH &amp; EDL FACS AUTH BDS 2019</title>
        <cusip>60637ARD6</cusip>
        <identifiers>
          <isin value="US60637ARD62"/>
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        <balance>1315000</balance>
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        <curCd>USD</curCd>
        <valUSD>1549267.25</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHOENIX ARIZ INDL DEV AUTH</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>PHOENIX ARIZ INDL DEV AUTH BDS 2019 A</title>
        <cusip>71885DEH1</cusip>
        <identifiers>
          <isin value="US71885DEH17"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1144000</valUSD>
        <pctVal>0.2043181018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUN FIN AUTH SR LEIN BDS 2018 A</title>
        <cusip>13048VBY3</cusip>
        <identifiers>
          <isin value="US13048VBY39"/>
          <ticker value="CASFIN"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4669320</valUSD>
        <pctVal>0.8339393350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON ST HIGHER ED FACS AUTH</name>
        <lei>N/A</lei>
        <title>WASHINGTON ST HIGHER ED FACS AUTH BDS 2019</title>
        <cusip>9397812G4</cusip>
        <identifiers>
          <isin value="US9397812G41"/>
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        <balance>2250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2384302.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORSYTH CNTY GA WTR &amp; SEW AUTH</name>
        <lei>N/A</lei>
        <title>FORSYTH CNTY GA WTR &amp; SEW AUTH REF IMPT BDS 2019</title>
        <cusip>346609KT6</cusip>
        <identifiers>
          <isin value="US346609KT64"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1017570</valUSD>
        <pctVal>0.1817377368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>COLORADO EDL &amp; CULTURAL FACS AUTH</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>COLORADO EDL &amp; CULTURAL FACS AUTH CHARTER SCH BDS 2019</title>
        <cusip>19645UBN3</cusip>
        <identifiers>
          <isin value="US19645UBN37"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1604550</valUSD>
        <pctVal>0.2865722118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>TUNICA CNTY MISS</name>
        <lei>N/A</lei>
        <title>TUNICA CNTY MISS BDS 2019</title>
        <cusip>899759AA2</cusip>
        <identifiers>
          <isin value="US899759AA22"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1002080</valUSD>
        <pctVal>0.1789712268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUN FIN AUTH SR LEIN BDS 2018 A</title>
        <cusip>13048VCD8</cusip>
        <identifiers>
          <isin value="US13048VCD82"/>
          <ticker value="CASFIN"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1161490</valUSD>
        <pctVal>0.2074418113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTH CAROLINA TPK AUTH</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA TPK AUTH SR LIEN BDS 2019</title>
        <cusip>65830RCQ0</cusip>
        <identifiers>
          <isin value="US65830RCQ02"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1797585</valUSD>
        <pctVal>0.3210482125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>CALIFORNIA SCH FIN AUTH</name>
        <lei>N/A</lei>
        <title>CALIFORNIA SCH FIN AUTH BDS 2019 A</title>
        <cusip>13059TFU8</cusip>
        <identifiers>
          <isin value="US13059TFU88"/>
          <ticker value="CASSCD"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2369040</valUSD>
        <pctVal>0.4231099266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LOWELL MASS</name>
        <lei>549300GXJ4CE6FSCJA35</lei>
        <title>LOWELL MASS BDS 2019</title>
        <cusip>547649AC7</cusip>
        <identifiers>
          <isin value="US547649AC78"/>
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        <balance>1250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1332100</valUSD>
        <pctVal>0.2379127128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORMAN OKLA REGL HOSP AUTH</name>
        <lei>N/A</lei>
        <title>NORMAN OKLA REGL HOSP AUTH BDS 2019</title>
        <cusip>656178EK2</cusip>
        <identifiers>
          <isin value="US656178EK23"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5386400</valUSD>
        <pctVal>0.9620096362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW JERSEY ECONOMIC DEV AUTH</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEV AUTH SPL FAC REV BDS 2000</title>
        <cusip>64578CBW0</cusip>
        <identifiers>
          <isin value="US64578CBW01"/>
          <ticker value="NJSDEV"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2287480</valUSD>
        <pctVal>0.4085433318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</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>ALDINE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>ALDINE TEX INDPT SCH DIST ULTD TAX SCH BLDG BDS 2018</title>
        <cusip>014393YL0</cusip>
        <identifiers>
          <isin value="US014393YL03"/>
          <ticker value="ALDSCD"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6060100</valUSD>
        <pctVal>1.0823322806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOUISIANA PUB FACS AUTH</name>
        <lei>549300RQIPT5S4P4M065</lei>
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        <cusip>546395N26</cusip>
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          <isin value="US546395N260"/>
          <ticker value="LASMED"/>
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        <curCd>USD</curCd>
        <valUSD>5586400</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA POLLUTION CTL FING AUTH</name>
        <lei>N/A</lei>
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        <cusip>130536RK3</cusip>
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          <ticker value="CASPOL"/>
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        <curCd>USD</curCd>
        <valUSD>2854350</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH</name>
        <lei>54930022O46HOX5J1D14</lei>
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        <cusip>59447PE98</cusip>
        <identifiers>
          <isin value="US59447PE987"/>
          <ticker value="MISFIN"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2299420</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA POLLUTION CTL FING AUTH</name>
        <lei>N/A</lei>
        <title>CALIFORNIA POLLUTION CTL FING AUTH REF BDS 2019</title>
        <cusip>13054WAQ0</cusip>
        <identifiers>
          <isin value="US13054WAQ06"/>
          <ticker value="CASPOL"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT FING CORP RHODE IS</name>
        <lei>N/A</lei>
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        <cusip>888809BE9</cusip>
        <identifiers>
          <isin value="US888809BE95"/>
          <ticker value="TOBGEN"/>
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        <balance>7000000</balance>
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        <curCd>USD</curCd>
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        <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>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TRAVIS CNTY TEX HEALTH FACS DEV CORP</name>
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        <cusip>89438LCK2</cusip>
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          <isin value="US89438LCK26"/>
          <ticker value="TRAMED"/>
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        <balance>805000</balance>
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        <curCd>USD</curCd>
        <valUSD>842915.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP</name>
        <lei>N/A</lei>
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        <cusip>882667AN8</cusip>
        <identifiers>
          <isin value="US882667AN81"/>
          <ticker value="TXSTRN"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1747680</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WAYNE CNTY MICH ARPT AUTH</name>
        <lei>N/A</lei>
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        <cusip>944514SX7</cusip>
        <identifiers>
          <isin value="US944514SX74"/>
          <ticker value="WAYAPT"/>
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        <balance>4355000</balance>
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        <curCd>USD</curCd>
        <valUSD>5062861.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN ST STRATEGIC FD</name>
        <lei>N/A</lei>
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        <cusip>594698PM8</cusip>
        <identifiers>
          <isin value="US594698PM89"/>
          <ticker value="MISGEN"/>
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        <balance>2500000</balance>
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        <curCd>USD</curCd>
        <valUSD>2750550</valUSD>
        <pctVal>0.4912475131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANAPOLIS IND LOC PUB IMPT BD BK</name>
        <lei>549300LX8ESJHDSESB87</lei>
        <title>INDIANAPOLIS IND LOC PUB IMPT BD BK REF AMT BDS 2019 D</title>
        <cusip>45528UD99</cusip>
        <identifiers>
          <isin value="US45528UD991"/>
          <ticker value="INPGEN"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2495340</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MINNESOTA ST</name>
        <lei>N/A</lei>
        <title>MINNESOTA ST GO VAR PURP BDS 2019 A</title>
        <cusip>60412ARF2</cusip>
        <identifiers>
          <isin value="US60412ARF20"/>
          <ticker value="MNS"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5059120</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-01</maturityDt>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY HSG AGY</name>
        <lei>N/A</lei>
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        <cusip>13013FAA2</cusip>
        <identifiers>
          <isin value="US13013FAA21"/>
          <ticker value="CCHHSG"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3389520</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FRANKLIN CNTY PA INDL DEV AUTH</name>
        <lei>N/A</lei>
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        <cusip>353273CE3</cusip>
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          <isin value="US353273CE39"/>
          <ticker value="FRADEV"/>
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        <balance>1010000</balance>
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        <valUSD>1094476.4</valUSD>
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        <name>PUERTO RICO SALES TAX FING CORP SALES TAX</name>
        <lei>549300EIUFISISP8X671</lei>
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        <cusip>74529JPW9</cusip>
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          <isin value="US74529JPW98"/>
          <ticker value="PRCGEN"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3132060</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13049YBM2</cusip>
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          <ticker value="CASFIN"/>
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        <balance>5000000</balance>
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      <invstOrSec>
        <name>IOWA FIN AUTH</name>
        <lei>N/A</lei>
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        <cusip>46246K4T6</cusip>
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          <isin value="US46246K4T65"/>
          <ticker value="IASGEN"/>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO HEALTH FACS AUTH BDS 2019 A-2</title>
        <cusip>19648FKT0</cusip>
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          <isin value="US19648FKT02"/>
          <ticker value="COSMED"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5316200</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILADELPHIA PA AUTH</name>
        <lei>N/A</lei>
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        <cusip>71781XFW8</cusip>
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          <isin value="US71781XFW83"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHILADELPHIA PA AUTH</name>
        <lei>N/A</lei>
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        <cusip>71781XFV0</cusip>
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          <isin value="US71781XFV01"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-15</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA ST FIN AUTH EDL FACS REV BDS 2011</title>
        <cusip>455057P52</cusip>
        <identifiers>
          <isin value="US455057P526"/>
          <ticker value="INSFIN"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2173260</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-09-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BUILD NYC RESOURCE CORP N Y</name>
        <lei>549300GROJFKMNLWEK84</lei>
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        <cusip>12008EPS9</cusip>
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          <isin value="US12008EPS99"/>
          <ticker value="BUIGEN"/>
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        <curCd>USD</curCd>
        <valUSD>1061960</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>2049-02-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA ST FIN AUTH EDL FACS REV BDS 2011</title>
        <cusip>455057N21</cusip>
        <identifiers>
          <isin value="US455057N216"/>
          <ticker value="INSFIN"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3265620</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
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          <annualizedRt>6.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>MAIN STR NAT GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <cusip>56035DBW1</cusip>
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          <isin value="US56035DBW11"/>
          <ticker value="MAIUTL"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5451440</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WEST VIRGINIA ST HOSP FIN AUTH</name>
        <lei>N/A</lei>
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        <cusip>956622S47</cusip>
        <identifiers>
          <isin value="US956622S475"/>
          <ticker value="WVSMED"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3509460</valUSD>
        <pctVal>0.6267886413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-01-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN ANTONIO TEX</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
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        <cusip>79625GBD4</cusip>
        <identifiers>
          <isin value="US79625GBD43"/>
          <ticker value="SANUTL"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1170260</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK N Y CITY MUN WTR FIN AUTH</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>NEW YORK N Y CITY MUN WTR FIN AUTH SECOND GEN RESOLUTION REV BDS 2017 BB</title>
        <cusip>64972GML5</cusip>
        <identifiers>
          <isin value="US64972GML58"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
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        <name>JOHNSON CITY TENN HEALTH &amp; EDL FACS BRD</name>
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        <cusip>4782R4AP6</cusip>
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          <isin value="US4782R4AP62"/>
          <ticker value="JOHMED"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1444215</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>2043-02-15</maturityDt>
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        <name>MASSACHUSETTS ST DEV FIN AGY</name>
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        <cusip>57583U6R4</cusip>
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          <isin value="US57583U6R41"/>
          <ticker value="MASDEV"/>
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        <curCd>USD</curCd>
        <valUSD>2240520</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>2044-07-01</maturityDt>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP</name>
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          <isin value="US882667AJ79"/>
          <ticker value="TXSTRN"/>
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        <balance>2750000</balance>
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        <curCd>USD</curCd>
        <valUSD>3085885</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>CHICAGO ILL BRD ED</name>
        <lei>54930099NR6T9V7LVB43</lei>
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        <cusip>167505WP7</cusip>
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          <isin value="US167505WP77"/>
          <ticker value="CHIEDU"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1181140</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <name>CHICAGO ILL BRD ED</name>
        <lei>54930099NR6T9V7LVB43</lei>
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        <cusip>167505WK8</cusip>
        <identifiers>
          <isin value="US167505WK80"/>
          <ticker value="CHIEDU"/>
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        <balance>500000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LA PAZ CNTY ARIZ INDL DEV AUTH</name>
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        <cusip>50376FAD9</cusip>
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          <isin value="US50376FAD96"/>
          <ticker value="LAPDEV"/>
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        <curCd>USD</curCd>
        <valUSD>3843350</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FIN AUTH BDS 2017</title>
        <cusip>45204EA73</cusip>
        <identifiers>
          <isin value="US45204EA734"/>
          <ticker value="ILSGEN"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1469820</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>2045-02-15</maturityDt>
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      <invstOrSec>
        <name>LA PAZ CNTY ARIZ INDL DEV AUTH</name>
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        <title>LA PAZ CNTY ARIZ INDL DEV AUTH REV BDS 2016</title>
        <cusip>50376FAC1</cusip>
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          <isin value="US50376FAC14"/>
          <ticker value="LAPDEV"/>
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        <balance>1400000</balance>
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        <curCd>USD</curCd>
        <valUSD>1564374</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CALIFORNIA EDL FACS AUTH</name>
        <lei>N/A</lei>
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          <isin value="US130179SD70"/>
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      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH</name>
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      <invstOrSec>
        <name>TOBACCO SETTLEMENT FING CORP N J</name>
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        <cusip>888808HR6</cusip>
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          <isin value="US888808HR61"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FLORIDA DEV FIN CORP</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOUISIANA LOC GOVT ENVIRONMENTAL FACS &amp; CMNTY DEV AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HAMDEN CONN</name>
        <lei>N/A</lei>
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        <cusip>4067927Y1</cusip>
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          <isin value="US4067927Y11"/>
          <ticker value="HAM"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISIANA PUB FACS AUTH</name>
        <lei>549300RQIPT5S4P4M065</lei>
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        <cusip>546399CP9</cusip>
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          <isin value="US546399CP91"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MIAMI-DADE CNTY FLA</name>
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          <ticker value="MIA"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOARD MANAGERS JT GUADALUPE CNTY-CITY</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>PALM BEACH CNTY FLA HEALTH FACS AUTH</name>
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        <name>BOARD MANAGERS JT GUADALUPE CNTY-CITY</name>
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        <cusip>09659MAS5</cusip>
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      <invstOrSec>
        <name>INDIANA FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA FIN AUTH REF</title>
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          <isin value="US45470DAA54"/>
          <ticker value="INSGEN"/>
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        <assetCat>DBT</assetCat>
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        <name>SAN ANTONIO TEX</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOUISIANA PUB FACS AUTH</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>LOUISIANA PUB FACS AUTH REV BDS 2011</title>
        <cusip>546398M39</cusip>
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          <ticker value="LASFAC"/>
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        <balance>1250000</balance>
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        <valUSD>1340737.5</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS</name>
        <lei>5493002IBBW8O7YHWF12</lei>
        <title>PUBLIC FIN AUTH WIS BDS 2019</title>
        <cusip>74444VAM2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>BALTIMORE MD</name>
        <lei>5493006QYFB72E0IOO54</lei>
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        <cusip>05923TCT4</cusip>
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        <balance>1750000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALACHUA CNTY FLA HEALTH FACS AUTH</name>
        <lei>N/A</lei>
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        <cusip>010685KJ3</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW JERSEY ST TRANSN TR FD AUTH</name>
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        <cusip>646136Y54</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP</name>
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        <cusip>650116CP9</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>TEMPE ARIZ INDL DEV AUTH</name>
        <lei>N/A</lei>
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        <cusip>87972MBD3</cusip>
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          <isin value="US87972MBD39"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK TRANSN DEV CORP</name>
        <lei>IWUQB36BXD6OWD6X4T14</lei>
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        <cusip>650116BP0</cusip>
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          <isin value="US650116BP03"/>
          <ticker value="NYTTRN"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <name>PENNSYLVANIA ST TPK COMMN</name>
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        <cusip>709224QG7</cusip>
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          <isin value="US709224QG75"/>
          <ticker value="PASTRN"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3474570</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <name>UNIVERSITY ILL</name>
        <lei>549300VD8PPC4Q5HK850</lei>
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        <cusip>914353M87</cusip>
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          <isin value="US914353M877"/>
          <ticker value="UNVHGR"/>
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        <curCd>USD</curCd>
        <valUSD>3176839.9</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH</name>
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        <cusip>1307953S4</cusip>
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          <ticker value="CASDEV"/>
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        <curCd>USD</curCd>
        <valUSD>2225800</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA CMNTY HSG AGY</name>
        <lei>N/A</lei>
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        <cusip>13013HAA8</cusip>
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          <ticker value="CCHHSG"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <name>ILLINOIS HSG DEV AUTH</name>
        <lei>54930053Z6M9JVHBQZ16</lei>
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        <cusip>45201YX69</cusip>
        <identifiers>
          <isin value="US45201YX698"/>
          <ticker value="ILSHSG"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2194420</valUSD>
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        <name>OHIO ST AIR QUALITY DEV AUTH</name>
        <lei>549300DZUU80AYOR6M80</lei>
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        <cusip>67754AAE4</cusip>
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          <isin value="US67754AAE47"/>
          <ticker value="OHSDEV"/>
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        <name>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
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        <cusip>45204EM96</cusip>
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          <isin value="US45204EM960"/>
          <ticker value="ILSGEN"/>
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      <invstOrSec>
        <name>MISSION TEX ECONOMIC DEV CORP</name>
        <lei>N/A</lei>
        <title>MISSION TEX ECONOMIC DEV CORP SR LN BDS 2018</title>
        <cusip>605156AC2</cusip>
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        <curCd>USD</curCd>
        <valUSD>2161980</valUSD>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>UTAH INFRASTRUCTURE AGY</name>
        <lei>N/A</lei>
        <title>UTAH INFRASTRUCTURE AGY BDS 2019</title>
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          <ticker value="UTSFAC"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.000000000000</annualizedRt>
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        <name>LOWER COLO RIV AUTH TEX</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>LOWER COLO RIV AUTH TEX REF BDS 2015</title>
        <cusip>54811BPX3</cusip>
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          <ticker value="LWCGEN"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3447120</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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        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA MUN FIN AUTH BDS 2019</title>
        <cusip>13050RAA0</cusip>
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          <isin value="US13050RAA05"/>
          <ticker value="CASFIN"/>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CAMPBELL CNTY WYO SOLID WASTE FACS</name>
        <lei>N/A</lei>
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        <cusip>134340AB4</cusip>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TOBACCO SECURITIZATION AUTH SOUTHN CALIF</name>
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        <cusip>888804CR0</cusip>
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          <isin value="US888804CR03"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP</name>
        <lei>N/A</lei>
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          <isin value="US64542REK32"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CENTRAL TEX REGL MOBILITY AUTH</name>
        <lei>N/A</lei>
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        <cusip>155498ER5</cusip>
        <identifiers>
          <isin value="US155498ER55"/>
          <ticker value="CTXGEN"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1724085</valUSD>
        <pctVal>0.3079211317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST HSG FIN COMMN</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>WASHINGTON ST HSG FIN COMMN SR BDS 2019</title>
        <cusip>939783ZE9</cusip>
        <identifiers>
          <isin value="US939783ZE98"/>
          <ticker value="WASHSG"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2111160</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>METROPOLITAN GOVT NASHVILLE &amp; DAVIDSON CNTY TENN HEALTH &amp; EDL FACS BRD</name>
        <lei>549300GW8FVQJ3DU6O10</lei>
        <title>METROPOLITAN GOVT NASHVILLE &amp; DAVIDSON CNTY TENN HEALTH &amp; EDL FACS BRD REF IMPT BDS 2019</title>
        <cusip>592029AE2</cusip>
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          <isin value="US592029AE23"/>
          <ticker value="METEDU"/>
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        <balance>1115000</balance>
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        <curCd>USD</curCd>
        <valUSD>1284223.55</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>PUBLIC FIN AUTH WIS BDS 2019 A</title>
        <cusip>74442EEG1</cusip>
        <identifiers>
          <isin value="US74442EEG17"/>
          <ticker value="PUBEDU"/>
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        <balance>520000</balance>
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        <curCd>USD</curCd>
        <valUSD>551725.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HOOVER ALA INDL DEV BRD</name>
        <lei>JNLUVFYJT1OZSIQ24U47</lei>
        <title>HOOVER ALA INDL DEV BRD AMT BDS 2019</title>
        <cusip>439241AA8</cusip>
        <identifiers>
          <isin value="US439241AA80"/>
          <ticker value="HOODEV"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1096000</valUSD>
        <pctVal>0.1957453144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHILADELPHIA PA</name>
        <lei>549300IVFOPB4AG7UL47</lei>
        <title>PHILADELPHIA PA REV BDS 2015A</title>
        <cusip>717893ZC8</cusip>
        <identifiers>
          <isin value="US717893ZC89"/>
          <ticker value="PHIUTL"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4479440</valUSD>
        <pctVal>0.8000268165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>PENNSYLVANIA ST HIGHER EDL FACS AUTH</name>
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        <title>PENNSYLVANIA ST HIGHER EDL FACS AUTH REV BDS 2011</title>
        <cusip>70917R2J3</cusip>
        <identifiers>
          <isin value="US70917R2J36"/>
          <ticker value="PASEDU"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2177080</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KENTUCKY PUB TRANSN INFRASTRUCTURE AUTH</name>
        <lei>N/A</lei>
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        <cusip>491397AB1</cusip>
        <identifiers>
          <isin value="US491397AB17"/>
          <ticker value="KPTTRN"/>
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        <balance>2500000</balance>
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        <curCd>USD</curCd>
        <valUSD>2805625</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>YONKERS N Y ECONOMIC DEV CORP</name>
        <lei>N/A</lei>
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        <cusip>98608MAF8</cusip>
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          <isin value="US98608MAF86"/>
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        <balance>640000</balance>
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        <assetCat>DBT</assetCat>
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        <name>MICHIGAN ST STRATEGIC FD</name>
        <lei>N/A</lei>
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        <cusip>594698QV7</cusip>
        <identifiers>
          <isin value="US594698QV79"/>
          <ticker value="MISGEN"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5837800</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>2048-06-30</maturityDt>
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      <invstOrSec>
        <name>DISTRICT COLUMBIA</name>
        <lei>N/A</lei>
        <title>DISTRICT COLUMBIA SECD BDS 2019A</title>
        <cusip>25477GNY7</cusip>
        <identifiers>
          <isin value="US25477GNY79"/>
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        <balance>1135000</balance>
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        <curCd>USD</curCd>
        <valUSD>1449871.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BERKELEY CNTY S C</name>
        <lei>N/A</lei>
        <title>BERKELEY CNTY S C BDS 2019</title>
        <cusip>084220AC6</cusip>
        <identifiers>
          <isin value="US084220AC61"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1003920</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BRAZORIA CNTY TEX INDL DEV CORP</name>
        <lei>N/A</lei>
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        <cusip>10604PAC7</cusip>
        <identifiers>
          <isin value="US10604PAC77"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>324399</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>WISCONSIN ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>N/A</lei>
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        <cusip>97712D4D5</cusip>
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          <isin value="US97712D4D59"/>
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        <valUSD>1073820</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA SMALL BUSINESS FING AUTH</name>
        <lei>N/A</lei>
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        <cusip>928106AQ6</cusip>
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          <isin value="US928106AQ62"/>
          <ticker value="VASDEV"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CUMBERLAND CNTY PA MUN AUTH</name>
        <lei>N/A</lei>
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        <cusip>230614PN3</cusip>
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          <isin value="US230614PN31"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>OCEAN HWY &amp; PORT AUTH FLA</name>
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        <cusip>67482LAA7</cusip>
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          <isin value="US67482LAA70"/>
          <ticker value="OCETRN"/>
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        <curCd>USD</curCd>
        <valUSD>1525020</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PHOENIX ARIZ CIVIC IMPT CORP</name>
        <lei>N/A</lei>
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        <cusip>71883MQA5</cusip>
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          <isin value="US71883MQA52"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1197440</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW JERSEY ECONOMIC DEV AUTH</name>
        <lei>5493006JS6QWDVU4R678</lei>
        <title>NEW JERSEY ECONOMIC DEV AUTH SCH FACS CONSTR BDS 2019 LLL</title>
        <cusip>64577B7S7</cusip>
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          <isin value="US64577B7S75"/>
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        <curCd>USD</curCd>
        <valUSD>2335117.5</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA DEV FIN CORP</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>FLORIDA DEV FIN CORP BDS 2019</title>
        <cusip>34061XAB8</cusip>
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          <isin value="US34061XAB82"/>
          <ticker value="FLSDEV"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1660140</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MAINE HEALTH &amp; HIGHER EDL FACS AUTH</name>
        <lei>N/A</lei>
        <title>MAINE HEALTH &amp; HIGHER EDL FACS AUTH REV BDS 2013</title>
        <cusip>560427WE2</cusip>
        <identifiers>
          <isin value="US560427WE22"/>
          <ticker value="MESMED"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5349850</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>ARIZONA INDL DEV AUTH BDS 2018B</title>
        <cusip>04052BGR9</cusip>
        <identifiers>
          <isin value="US04052BGR96"/>
          <ticker value="AZSEDU"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2264300</valUSD>
        <pctVal>0.4044033899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PHOENIX ARIZ CIVIC IMPT CORP</name>
        <lei>N/A</lei>
        <title>PHOENIX ARIZ CIVIC IMPT CORP JR LIEN BDS 2019 B</title>
        <cusip>71883MPZ1</cusip>
        <identifiers>
          <isin value="US71883MPZ13"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2203320</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>ARIZONA INDL DEV AUTH FAC BDS 2019 A</title>
        <cusip>04052BKD5</cusip>
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          <isin value="US04052BKD54"/>
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        <balance>700000</balance>
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        <curCd>USD</curCd>
        <valUSD>698425</valUSD>
        <pctVal>0.1247385230</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LAS VEGAS NEV SPL IMPT DIST NO 814</name>
        <lei>N/A</lei>
        <title>LAS VEGAS NEV SPL IMPT DIST NO 814 LOCAL IMPT BDS 2019</title>
        <cusip>51778UAT3</cusip>
        <identifiers>
          <isin value="US51778UAT34"/>
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        <balance>550000</balance>
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        <curCd>USD</curCd>
        <valUSD>562996.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW MEXICO ST HOSP EQUIP LN COUNCIL</name>
        <lei>N/A</lei>
        <title>NEW MEXICO ST HOSP EQUIP LN COUNCIL BDS 2019A</title>
        <cusip>647377AN0</cusip>
        <identifiers>
          <isin value="US647377AN06"/>
          <ticker value="NMSMED"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3365880</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA HIGHER EDL FACS FING AUTH</name>
        <lei>N/A</lei>
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        <cusip>34073TMJ3</cusip>
        <identifiers>
          <isin value="US34073TMJ33"/>
          <ticker value="FLSHGR"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2342420</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>METROPOLITAN WASH D C ARPTS AUTH</name>
        <lei>7HERAVJJLN8J1DZ6AZ19</lei>
        <title>METROPOLITAN WASH D C ARPTS AUTH REF BDS 2019A</title>
        <cusip>592647GM7</cusip>
        <identifiers>
          <isin value="US592647GM78"/>
          <ticker value="METAPT"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>TARRANT CNTY TEX CULTURAL ED FACS FIN CORP</name>
        <lei>549300ROY505NVTMMI25</lei>
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        <cusip>87638RGY7</cusip>
        <identifiers>
          <isin value="US87638RGY71"/>
          <ticker value="TAREDU"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4493520</valUSD>
        <pctVal>0.8025415009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>NORTHAMPTON CNTY PA INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>NORTHAMPTON CNTY PA INDL DEV AUTH BDS 2019</title>
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          <isin value="US663549NU36"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILADELPHIA PA AUTH</name>
        <lei>N/A</lei>
        <title>PHILADELPHIA PA AUTH BDS 2019</title>
        <cusip>71781XGA5</cusip>
        <identifiers>
          <isin value="US71781XGA54"/>
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        <balance>1350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1411168.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OHIO ST AIR QUALITY DEV AUTH</name>
        <lei>549300DZUU80AYOR6M80</lei>
        <title>OHIO ST AIR QUALITY DEV AUTH BDS 2019</title>
        <cusip>67754AAF1</cusip>
        <identifiers>
          <isin value="US67754AAF12"/>
          <ticker value="OHSDEV"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2206560</valUSD>
        <pctVal>0.3940910409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH</name>
        <lei>N/A</lei>
        <title>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH BDS 2019A</title>
        <cusip>837031ZA4</cusip>
        <identifiers>
          <isin value="US837031ZA49"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1126930</valUSD>
        <pctVal>0.2012694043</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>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WHITE CNTY GA DEV AUTH</name>
        <lei>N/A</lei>
        <title>WHITE CNTY GA DEV AUTH BDS 2019 A</title>
        <cusip>96366FAC6</cusip>
        <identifiers>
          <isin value="US96366FAC68"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1523895</valUSD>
        <pctVal>0.2721672498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH</name>
        <lei>N/A</lei>
        <title>CALIFORNIA PUB FIN AUTH BDS 2019A</title>
        <cusip>13057KAB6</cusip>
        <identifiers>
          <isin value="US13057KAB61"/>
          <ticker value="CASEDU"/>
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        <balance>560000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>590738.4</valUSD>
        <pctVal>0.1055057243</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>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STC MET DIST NO 2 COLO</name>
        <lei>N/A</lei>
        <title>STC MET DIST NO 2 COLO SR LTD TAX IMPT GO SPL REV REF BDS 2019A</title>
        <cusip>85780TAF0</cusip>
        <identifiers>
          <isin value="US85780TAF03"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1071330</valUSD>
        <pctVal>0.1913392588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FIN AUTH REF BDS 2019</title>
        <cusip>45204E7E2</cusip>
        <identifiers>
          <isin value="US45204E7E21"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2330940</valUSD>
        <pctVal>0.4163052765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>PENNSYLVANIA ECONOMIC DEV FING AUTH</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ECONOMIC DEV FING AUTH BDS 2019</title>
        <cusip>708692BK3</cusip>
        <identifiers>
          <isin value="US708692BK30"/>
          <ticker value="PASDEV"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2129960</valUSD>
        <pctVal>0.3804103009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA COLLEGE BLDG AUTH VA</name>
        <lei>N/A</lei>
        <title>VIRGINIA COLLEGE BLDG AUTH VA REV BDS 2015B</title>
        <cusip>9277817M0</cusip>
        <identifiers>
          <isin value="US9277817M00"/>
          <ticker value="VACHGR"/>
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        <balance>2515000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2686523</valUSD>
        <pctVal>0.4798123076</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>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FIN AUTH BDS 2017 A</title>
        <cusip>45203KAP0</cusip>
        <identifiers>
          <isin value="US45203KAP03"/>
          <ticker value="ILSHSG"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5596150</valUSD>
        <pctVal>0.9994709315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VENICE FLA</name>
        <lei>N/A</lei>
        <title>VENICE FLA IMPT BDS 2019</title>
        <cusip>922687AB4</cusip>
        <identifiers>
          <isin value="US922687AB44"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1111780</valUSD>
        <pctVal>0.1985636182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FIN AUTH REV BDS 2017</title>
        <cusip>45204EVE5</cusip>
        <identifiers>
          <isin value="US45204EVE57"/>
          <ticker value="ILSGEN"/>
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        <balance>1100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1250073</valUSD>
        <pctVal>0.2232627120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHESTER CNTY PA HEALTH &amp; ED FACS AUTH</name>
        <lei>N/A</lei>
        <title>CHESTER CNTY PA HEALTH &amp; ED FACS AUTH BDS 2019</title>
        <cusip>165579GQ0</cusip>
        <identifiers>
          <isin value="US165579GQ06"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1077420</valUSD>
        <pctVal>0.1924269312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DISTRICT COLUMBIA</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>DISTRICT COLUMBIA BDS 2019</title>
        <cusip>25483VVP6</cusip>
        <identifiers>
          <isin value="US25483VVP65"/>
          <ticker value="DISREV"/>
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        <balance>2550000</balance>
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        <curCd>USD</curCd>
        <valUSD>3004206</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRGINIA COLLEGE BLDG AUTH VA</name>
        <lei>N/A</lei>
        <title>VIRGINIA COLLEGE BLDG AUTH VA REV BDS 2015B</title>
        <cusip>9277817L2</cusip>
        <identifiers>
          <isin value="US9277817L27"/>
          <ticker value="VACHGR"/>
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        <balance>270000</balance>
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        <curCd>USD</curCd>
        <valUSD>295974</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASHLAND KY</name>
        <lei>N/A</lei>
        <title>ASHLAND KY REF BDS 2019</title>
        <cusip>044293CA4</cusip>
        <identifiers>
          <isin value="US044293CA42"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160359</valUSD>
        <pctVal>0.0286400756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>TARRANT CNTY TEX CULTURAL ED FACS FIN CORP</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>TARRANT CNTY TEX CULTURAL ED FACS FIN CORP REV BDS 2017</title>
        <cusip>87638RHV2</cusip>
        <identifiers>
          <isin value="US87638RHV24"/>
          <ticker value="TAREDU"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2125260</valUSD>
        <pctVal>0.3795708821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS</name>
        <lei>549300NX92YT0D3RWC98</lei>
        <title>PUBLIC FIN AUTH WIS BDS 2019 A</title>
        <cusip>74442PMT9</cusip>
        <identifiers>
          <isin value="US74442PMT92"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1126650</valUSD>
        <pctVal>0.2012193964</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS HSG DEV AUTH</name>
        <lei>54930053Z6M9JVHBQZ16</lei>
        <title>ILLINOIS HSG DEV AUTH BDS 2019 C</title>
        <cusip>45201Y3N5</cusip>
        <identifiers>
          <isin value="US45201Y3N51"/>
          <ticker value="ILSHSG"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1022040</valUSD>
        <pctVal>0.1825360776</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>2.800000000000</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>MARION CNTY OHIO</name>
        <lei>549300Y83A05IEINZY87</lei>
        <title>MARION CNTY OHIO BDS 2019</title>
        <cusip>569120AW8</cusip>
        <identifiers>
          <isin value="US569120AW84"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000340</valUSD>
        <pctVal>0.1786604633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</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 CNTY FLA</name>
        <lei>N/A</lei>
        <title>PALM BEACH CNTY FLA BDS 2019A</title>
        <cusip>696547GJ1</cusip>
        <identifiers>
          <isin value="US696547GJ16"/>
          <ticker value="PALGEN"/>
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        <balance>1750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1957165</valUSD>
        <pctVal>0.3495491589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</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 ST</name>
        <lei>549300X9CH74QB747L76</lei>
        <title>TEXAS ST VETERANS BDS 2017</title>
        <cusip>8827236Q7</cusip>
        <identifiers>
          <isin value="US8827236Q77"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5000000</valUSD>
        <pctVal>0.8929986969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PINELLAS CNTY FLA INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>PINELLAS CNTY FLA INDL DEV AUTH BDS 2019</title>
        <cusip>72316VAT6</cusip>
        <identifiers>
          <isin value="US72316VAT61"/>
          <ticker value="PINDEV"/>
        </identifiers>
        <balance>2110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2450743.9</valUSD>
        <pctVal>0.4377022218</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>5.000000000000</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>WAYZATA MINN</name>
        <lei>N/A</lei>
        <title>WAYZATA MINN REF BDS 2019</title>
        <cusip>946829BR8</cusip>
        <identifiers>
          <isin value="US946829BR84"/>
          <ticker value="WAYHSG"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1095600</valUSD>
        <pctVal>0.1956738745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</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>WAYZATA MINN</name>
        <lei>N/A</lei>
        <title>WAYZATA MINN REF BDS 2019</title>
        <cusip>946829BQ0</cusip>
        <identifiers>
          <isin value="US946829BQ02"/>
          <ticker value="WAYHSG"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548930</valUSD>
        <pctVal>0.0980387549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</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>CALCASIEU PARISH LA MEM HOSP SVC DIST</name>
        <lei>N/A</lei>
        <title>CALCASIEU PARISH LA MEM HOSP SVC DIST REF BDS 2019</title>
        <cusip>128423EY2</cusip>
        <identifiers>
          <isin value="US128423EY20"/>
          <ticker value="CALMED"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2348840</valUSD>
        <pctVal>0.4195022118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</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>LOUISIANA PUB FACS AUTH</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>LOUISIANA PUB FACS AUTH REF REV BDS 2016</title>
        <cusip>546399DE3</cusip>
        <identifiers>
          <isin value="US546399DE36"/>
          <ticker value="LASFAC"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60689</valUSD>
        <pctVal>0.0108390396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</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>CALIFORNIA STATEWIDE CMNTYS DEV AUTH</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STATEWIDE CMNTYS DEV AUTH REF REV BDS 2017A</title>
        <cusip>13080SSJ4</cusip>
        <identifiers>
          <isin value="US13080SSJ41"/>
          <ticker value="CASGEN"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1155930</valUSD>
        <pctVal>0.2064487967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</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 STATEWIDE CMNTYS DEV AUTH</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>CALIFORNIA STATEWIDE CMNTYS DEV AUTH REF REV BDS 2017A</title>
        <cusip>13080SSH8</cusip>
        <identifiers>
          <isin value="US13080SSH84"/>
          <ticker value="CASGEN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>590690</valUSD>
        <pctVal>0.1054970801</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>AUSTIN TEX CONVENTION ENTERPRISES INC</name>
        <lei>N/A</lei>
        <title>AUSTIN TEX CONVENTION ENTERPRISES INC REV REF BDS 2017</title>
        <cusip>052409DR7</cusip>
        <identifiers>
          <isin value="US052409DR79"/>
          <ticker value="AUSFAC"/>
        </identifiers>
        <balance>1995000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2311646.4</valUSD>
        <pctVal>0.4128594446</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>COLORADO HIGH PERFORMANCE TRAN ENTERPRISE</name>
        <lei>N/A</lei>
        <title>COLORADO HIGH PERFORMANCE TRAN ENTERPRISE SR REV BDS 2017</title>
        <cusip>19648DAC3</cusip>
        <identifiers>
          <isin value="US19648DAC39"/>
          <ticker value="COHTRN"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3277680</valUSD>
        <pctVal>0.5853927937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-31</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>ATLANTA GA DEV AUTH</name>
        <lei>N/A</lei>
        <title>ATLANTA GA DEV AUTH SENIOR HLTH CARE FACS 2017 A-1</title>
        <cusip>04781GAC5</cusip>
        <identifiers>
          <isin value="US04781GAC50"/>
          <ticker value="ATLMED"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5272300</valUSD>
        <pctVal>0.9416314059</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>6.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-01-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Funds</ncom:nameOfApplicant>
      <ncom:signature>Randal E. Rein </ncom:signature>
      <ncom:signerName>Randal E. Rein </ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
