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        <title>CYPRESS-FAIRBANKS TEX INDPT SCH DIST VAR RATE UNLTD TAX BLDG BDS 2014 B-1</title>
        <cusip>2327605A2</cusip>
        <identifiers>
          <isin value="US2327605A26"/>
          <ticker value="CYSSCD"/>
        </identifiers>
        <balance>4250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4243242.5</valUSD>
        <pctVal>0.4687158472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN MUN PWR OHIO INC</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>AMERICAN MUN PWR OHIO INC BDS 2018 A</title>
        <cusip>02765UNU4</cusip>
        <identifiers>
          <isin value="US02765UNU42"/>
          <ticker value="AMEPWR"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1007820</valUSD>
        <pctVal>0.1113255264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST DEPT TRANSN</name>
        <lei>N/A</lei>
        <title>MARYLAND ST DEPT TRANSN CONSOLIDATED TRANS BDS 2015</title>
        <cusip>574204YX5</cusip>
        <identifiers>
          <isin value="US574204YX50"/>
          <ticker value="MDSTRN"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5015250</valUSD>
        <pctVal>0.5539931203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS ST</name>
        <lei>N/A</lei>
        <title>TEXAS ST GO VETERANS BDS 2016</title>
        <cusip>882723J67</cusip>
        <identifiers>
          <isin value="US882723J677"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5000000</valUSD>
        <pctVal>0.5523085791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</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>MASSACHUSETTS BAY TRANSN AUTH MASS</name>
        <lei>549300D2U0XBUXGX8P68</lei>
        <title>MASSACHUSETTS BAY TRANSN AUTH MASS SALES TAX REV BDS 2005 A</title>
        <cusip>575579HD2</cusip>
        <identifiers>
          <isin value="US575579HD26"/>
          <ticker value="MASTRN"/>
        </identifiers>
        <balance>3310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4084606.2</valUSD>
        <pctVal>0.4511926093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
        <lei>5493003476LG35QAKM08</lei>
        <title>NEW YORK N Y CITY TRANSITIONAL FIN AUTH FUTURE TAX SECURED SUB BDS</title>
        <cusip>64971Q2B8</cusip>
        <identifiers>
          <isin value="US64971Q2B80"/>
          <ticker value="NYCGEN"/>
        </identifiers>
        <balance>3620000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4081151.8</valUSD>
        <pctVal>0.4508110304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</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>CLARK CNTY NEV</name>
        <lei>N/A</lei>
        <title>CLARK CNTY NEV LTD TAX FLOOD CTRL BDS 2014</title>
        <cusip>180848MZ3</cusip>
        <identifiers>
          <isin value="US180848MZ35"/>
          <ticker value="CLA"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2345980</valUSD>
        <pctVal>0.2591409761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>MARYLAND ST GO BDS SATE AND LOCAL FACS LOAN 2013 A</title>
        <cusip>574193GZ5</cusip>
        <identifiers>
          <isin value="US574193GZ53"/>
          <ticker value="MDS"/>
        </identifiers>
        <balance>4700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4856745</valUSD>
        <pctVal>0.5364843860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOULDER LARIMER &amp; WELD CNTYS COLO ST VRAIN VY SCH DIST</name>
        <lei>N/A</lei>
        <title>BOULDER LARIMER &amp; WELD CNTYS COLO ST VRAIN VY SCH DIST GO REF BDS 2012</title>
        <cusip>101565A90</cusip>
        <identifiers>
          <isin value="US101565A908"/>
          <ticker value="BOUSCD"/>
        </identifiers>
        <balance>2025000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2135484</valUSD>
        <pctVal>0.2358892268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH</name>
        <lei>54930011MIBQ2P7ZNM19</lei>
        <title>MICHIGAN FIN AUTH HSP BDS</title>
        <cusip>59447TUE1</cusip>
        <identifiers>
          <isin value="US59447TUE18"/>
          <ticker value="MISFIN"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3516450</valUSD>
        <pctVal>0.3884331006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHANDLER ARIZ</name>
        <lei>N/A</lei>
        <title>CHANDLER ARIZ GO REF BDS 2016</title>
        <cusip>158843XA5</cusip>
        <identifiers>
          <isin value="US158843XA57"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3783630</valUSD>
        <pctVal>0.4179462618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>MARION &amp; POLK CNTYS ORE SCH DIST NO 24J SALEM</name>
        <lei>N/A</lei>
        <title>MARION &amp; POLK CNTYS ORE SCH DIST NO 24J SALEM GO BDS 2018</title>
        <cusip>569203MW9</cusip>
        <identifiers>
          <isin value="US569203MW98"/>
          <ticker value="MARSCD"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1202150</valUSD>
        <pctVal>0.1327915517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS ST WTR RES AUTH</name>
        <lei>549300GBS2G3YGHOYO19</lei>
        <title>MASSACHUSETTS ST WTR RES AUTH REV BDS 2002 J</title>
        <cusip>576051TJ5</cusip>
        <identifiers>
          <isin value="US576051TJ54"/>
          <ticker value="MASWTR"/>
        </identifiers>
        <balance>80000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82053.6</valUSD>
        <pctVal>0.0090637814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEORGIA ST</name>
        <lei>N/A</lei>
        <title>GEORGIA ST GO BDS 2007E</title>
        <cusip>373384DW3</cusip>
        <identifiers>
          <isin value="US373384DW30"/>
          <ticker value="GAS"/>
        </identifiers>
        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2500725</valUSD>
        <pctVal>0.2762343743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK N Y CITY MUN WTR FIN AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK N Y CITY MUN WTR FIN AUTH SECOND GEN RESOLUTION BDS 2020 BB-2</title>
        <cusip>64972GUK8</cusip>
        <identifiers>
          <isin value="US64972GUK83"/>
          <ticker value="NYCUTL"/>
        </identifiers>
        <balance>4870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5594315.1</valUSD>
        <pctVal>0.6179576448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</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>NEW YORK ST URBAN DEV CORP</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>NEW YORK ST URBAN DEV CORP ST PERSONAL INCOME TAX REV BDS 2013 E-B</title>
        <cusip>650035F78</cusip>
        <identifiers>
          <isin value="US650035F781"/>
          <ticker value="NYSDEV"/>
        </identifiers>
        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11190100</valUSD>
        <pctVal>1.2360776462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-15</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>SAN FRANCISCO CALIF CITY &amp; CNTY</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO CALIF CITY &amp; CNTY BDS 2019 K</title>
        <cusip>79765PDX8</cusip>
        <identifiers>
          <isin value="US79765PDX87"/>
        </identifiers>
        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2499150</valUSD>
        <pctVal>0.2760603971</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>RHODE ISLAND ST</name>
        <lei>5493001B4TX233UP4J06</lei>
        <title>RHODE ISLAND ST GO CAPITAL DEV LN REF BDS 2019 E</title>
        <cusip>76222RZX3</cusip>
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        <balance>3660000</balance>
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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>
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          <maturityDt>2028-01-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PORTLAND ORE</name>
        <lei>N/A</lei>
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        <cusip>736754LS9</cusip>
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          <isin value="US736754LS93"/>
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        <balance>1640000</balance>
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        <curCd>USD</curCd>
        <valUSD>1835537.2</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.000000000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>FORT BEND TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>FORT BEND TEX INDPT SCH DIST ULTD TAX REF BDS 2016 A</title>
        <cusip>346843JG1</cusip>
        <identifiers>
          <isin value="US346843JG19"/>
          <ticker value="FORSCD"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TRIBOROUGH BRDG &amp; TUNL AUTH N Y</name>
        <lei>54930020ZN4LQF7K3456</lei>
        <title>TRIBOROUGH BRDG &amp; TUNL AUTH N Y REV REF BDS 2012B</title>
        <cusip>89602NB37</cusip>
        <identifiers>
          <isin value="US89602NB370"/>
          <ticker value="TRBTRN"/>
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        <balance>7500000</balance>
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        <curCd>USD</curCd>
        <valUSD>8334000</valUSD>
        <pctVal>0.9205879397</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MINNEAPOLIS MINN SPL SCH DIST NO 1</name>
        <lei>N/A</lei>
        <title>MINNEAPOLIS MINN SPL SCH DIST NO 1 GO BLDG BDS 2019A</title>
        <cusip>603790NX0</cusip>
        <identifiers>
          <isin value="US603790NX01"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2372300</valUSD>
        <pctVal>0.2620483284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLACKAMAS CNTY ORE</name>
        <lei>N/A</lei>
        <title>CLACKAMAS CNTY ORE GO BDS 2016 B</title>
        <cusip>178890LG2</cusip>
        <identifiers>
          <isin value="US178890LG22"/>
          <ticker value="CLA"/>
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        <balance>1425000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1710441.75</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>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FAIRFAX CNTY VA</name>
        <lei>549300IJI189UIQW0294</lei>
        <title>FAIRFAX CNTY VA PUB IMPT REF BDS 2014B</title>
        <cusip>30382ACH3</cusip>
        <identifiers>
          <isin value="US30382ACH32"/>
          <ticker value="FAI"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5894400</valUSD>
        <pctVal>0.6511055378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</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>OCTORARA PA AREA SCH DIST</name>
        <lei>N/A</lei>
        <title>OCTORARA PA AREA SCH DIST GO BDS 2020</title>
        <cusip>675740RR7</cusip>
        <identifiers>
          <isin value="US675740RR79"/>
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        <balance>775000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>839658.25</valUSD>
        <pctVal>0.0927500910</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST GO REF BDS SERIES R-2011B</title>
        <cusip>93974CTW0</cusip>
        <identifiers>
          <isin value="US93974CTW00"/>
          <ticker value="WAS"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2548200</valUSD>
        <pctVal>0.2814785443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</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>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FIN AUTH VAR REV BDS 2007</title>
        <cusip>45200FCC1</cusip>
        <identifiers>
          <isin value="US45200FCC14"/>
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        <balance>8000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8000000</valUSD>
        <pctVal>0.8836937266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.700000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FRANKLIN CNTY WASH SCH DIST NO 1 PASCO</name>
        <lei>N/A</lei>
        <title>FRANKLIN CNTY WASH SCH DIST NO 1 PASCO ULTD TAX GO REF BDS 2015</title>
        <cusip>353442ZZ2</cusip>
        <identifiers>
          <isin value="US353442ZZ25"/>
          <ticker value="FRASCD"/>
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        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1408200</valUSD>
        <pctVal>0.1555521882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAY AREA TOLL AUTH CALIF</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA TOLL AUTH CALIF BDS 2018 B</title>
        <cusip>072024VV1</cusip>
        <identifiers>
          <isin value="US072024VV17"/>
          <ticker value="BAYTRN"/>
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        <balance>8250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8418960</valUSD>
        <pctVal>0.9299727671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.250000000000</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>
        <name>WEST VIRGINIA ST</name>
        <lei>N/A</lei>
        <title>WEST VIRGINIA ST GO RD BDS 2019 A</title>
        <cusip>956553E56</cusip>
        <identifiers>
          <isin value="US956553E563"/>
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        <balance>3830000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4695580</valUSD>
        <pctVal>0.5186818236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
        <name>KENTUCKY INC KY PUB ENERGY AUTH</name>
        <lei>549300XEJZWHYSY4SL55</lei>
        <title>KENTUCKY INC KY PUB ENERGY AUTH BDS 2018 C-1</title>
        <cusip>74440DBF0</cusip>
        <identifiers>
          <isin value="US74440DBF06"/>
          <ticker value="KYSPWR"/>
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        <balance>1070000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1095680</valUSD>
        <pctVal>0.1210306928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
        <name>EASTON PA AREA SCH DIST</name>
        <lei>N/A</lei>
        <title>EASTON PA AREA SCH DIST GO BDS 2020 A</title>
        <cusip>277695KT8</cusip>
        <identifiers>
          <isin value="US277695KT82"/>
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        <balance>1350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1552446</valUSD>
        <pctVal>0.1714858489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>
        <name>LAREDO TEX</name>
        <lei>N/A</lei>
        <title>LAREDO TEX COMB TAX REV CTFS OBLIG 2019</title>
        <cusip>516824HT9</cusip>
        <identifiers>
          <isin value="US516824HT90"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>555910</valUSD>
        <pctVal>0.0614067724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-15</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>FLORIDA DEV FIN CORP</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>FLORIDA DEV FIN CORP BDS 2019 B</title>
        <cusip>34061YAE0</cusip>
        <identifiers>
          <isin value="US34061YAE05"/>
          <ticker value="FLSDEV"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5005450</valUSD>
        <pctVal>0.5529105955</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>Variable</couponKind>
          <annualizedRt>1.900000000000</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>FAU FIN CORP FLA</name>
        <lei>N/A</lei>
        <title>FAU FIN CORP FLA REF BDS 2019A</title>
        <cusip>31200CBP0</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>LAREDO TEX</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PIERCE CNTY WASH SCH DIST NO 403 BETHEL</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KENTUCKY INC KY PUB ENERGY AUTH</name>
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      <invstOrSec>
        <name>NEW YORK N Y CITY HSG DEV CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST</name>
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          <ticker value="SCS"/>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK ST DORM AUTH</name>
        <lei>N/A</lei>
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          <isin value="US64990FNZ35"/>
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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>2026-02-15</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CANYONS SCH DIST UTAH</name>
        <lei>N/A</lei>
        <title>CANYONS SCH DIST UTAH GO BDS 2012</title>
        <cusip>139078BH1</cusip>
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          <isin value="US139078BH11"/>
          <ticker value="CANSCD"/>
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        <balance>5625000</balance>
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        <curCd>USD</curCd>
        <valUSD>6016556.25</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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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WYLIE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>983068F51</cusip>
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          <ticker value="WYLSCD"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
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        <cusip>97705L6G7</cusip>
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          <ticker value="WIS"/>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ADAMS &amp; ARAPAHOE CNTYS COLO JT SCH DIST NO 28J AURORA</name>
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        <cusip>0054822E3</cusip>
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          <ticker value="ADASCD"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO ST UNIV</name>
        <lei>JFC10ZULKO4X2E3HBY86</lei>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>GATEWAY TECHNICAL COLLEGE DIST WIS</name>
        <lei>N/A</lei>
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        <cusip>367814Q78</cusip>
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          <ticker value="GATHGR"/>
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        <name>NEW YORK ST HSG FIN AGY</name>
        <lei>5493000LS7KCDB02O506</lei>
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          <ticker value="NYSHSG"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOUISIANA ST</name>
        <lei>N/A</lei>
        <title>LOUISIANA ST TAX REV REF BDS 2012A-1</title>
        <cusip>546475NC4</cusip>
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          <isin value="US546475NC41"/>
          <ticker value="LASGEN"/>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MANHATTAN KANS</name>
        <lei>N/A</lei>
        <title>MANHATTAN KANS GO TEMP NTS 2019-01</title>
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          <isin value="US562895RQ73"/>
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        <balance>1410000</balance>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <cusip>45470YFB2</cusip>
        <identifiers>
          <isin value="US45470YFB20"/>
          <ticker value="INSMED"/>
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        <balance>4000000</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>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BUTLER CNTY OHIO</name>
        <lei>54930064OLVQO8IVR655</lei>
        <title>BUTLER CNTY OHIO REF BDS 2017</title>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1749240</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>2024-11-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK ST DORM AUTH GEN PURP BDS 2018A</title>
        <cusip>64990FHP2</cusip>
        <identifiers>
          <isin value="US64990FHP27"/>
          <ticker value="NYSHGR"/>
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        <balance>550000</balance>
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        <curCd>USD</curCd>
        <valUSD>636724</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>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <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 REF BDS 2015B</title>
        <cusip>45471ASL7</cusip>
        <identifiers>
          <isin value="US45471ASL79"/>
          <ticker value="INSFIN"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5031200</valUSD>
        <pctVal>0.5557549847</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>2042-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.650000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CENTRAL BROWN CNTY WTR AUTH WTR SYS REV WIS</name>
        <lei>N/A</lei>
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        <cusip>152708BY8</cusip>
        <identifiers>
          <isin value="US152708BY86"/>
          <ticker value="CENWTR"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>206170</valUSD>
        <pctVal>0.0227738920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALVIN TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>ALVIN TEX INDPT SCH DIST ULTD TAX SCHOOLHOUSE BDS 2014 A</title>
        <cusip>022447WW2</cusip>
        <identifiers>
          <isin value="US022447WW27"/>
          <ticker value="AVNSCD"/>
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        <balance>2250000</balance>
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        <curCd>USD</curCd>
        <valUSD>2257605</valUSD>
        <pctVal>0.2493789220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO HEALTH FACS AUTH</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>COLORADO HEALTH FACS AUTH HOSP REV BDS 2018 B</title>
        <cusip>19648FGN8</cusip>
        <identifiers>
          <isin value="US19648FGN87"/>
          <ticker value="COSMED"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3611940</valUSD>
        <pctVal>0.3989810899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTHSIDE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>NORTHSIDE TEX INDPT SCH DIST VAR RT ULTD TAX SCH BLDG BDS 2011</title>
        <cusip>66702RHJ4</cusip>
        <identifiers>
          <isin value="US66702RHJ41"/>
          <ticker value="NSDSCD"/>
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        <balance>2130000</balance>
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        <curCd>USD</curCd>
        <valUSD>2131341.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.125000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OHIO ST</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>OHIO ST GO BDS 2011B</title>
        <cusip>677521PN0</cusip>
        <identifiers>
          <isin value="US677521PN01"/>
          <ticker value="OHS"/>
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        <balance>3330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3420975.6</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>2020-09-15</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>
        <name>MICHIGAN ST HOSP FIN AUTH</name>
        <lei>54930011MIBQ2P7ZNM19</lei>
        <title>MICHIGAN ST HOSP FIN AUTH REF PROJ BDS 2010 F-3</title>
        <cusip>59465HVL7</cusip>
        <identifiers>
          <isin value="US59465HVL76"/>
          <ticker value="MISMED"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5573200</valUSD>
        <pctVal>0.6156252346</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>Variable</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>OHIO ST</name>
        <lei>N/A</lei>
        <title>OHIO ST SCH GEN OBLIG BNDS 2018 A</title>
        <cusip>677522YY4</cusip>
        <identifiers>
          <isin value="US677522YY48"/>
          <ticker value="OHS"/>
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        <balance>3500000</balance>
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        <curCd>USD</curCd>
        <valUSD>3925915</valUSD>
        <pctVal>0.4336633071</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CACHE CNTY UTAH SCH DIST</name>
        <lei>N/A</lei>
        <title>CACHE CNTY UTAH SCH DIST GO REF BDS 2013</title>
        <cusip>127145JD3</cusip>
        <identifiers>
          <isin value="US127145JD37"/>
          <ticker value="CACSCD"/>
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        <balance>2650000</balance>
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        <curCd>USD</curCd>
        <valUSD>2801023.5</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>2021-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OKLAHOMA CNTY OKLA INDPT SCH DIST NO 12 EDMOND</name>
        <lei>N/A</lei>
        <title>OKLAHOMA CNTY OKLA INDPT SCH DIST NO 12 EDMOND GO COMB PURP BDS 2017</title>
        <cusip>678739UQ4</cusip>
        <identifiers>
          <isin value="US678739UQ49"/>
          <ticker value="OKSSCD"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1005110</valUSD>
        <pctVal>0.1110261752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FREDERICK CNTY MD</name>
        <lei>N/A</lei>
        <title>FREDERICK CNTY MD GO PUB FACS REF BDS 2012</title>
        <cusip>3556946R6</cusip>
        <identifiers>
          <isin value="US3556946R69"/>
          <ticker value="FRE"/>
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        <balance>235000</balance>
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        <curCd>USD</curCd>
        <valUSD>238870.45</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>2020-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>SNOHOMISH &amp; ISLAND CNTYS WASH SCH DIST NO 401 STANWOOD</name>
        <lei>N/A</lei>
        <title>SNOHOMISH &amp; ISLAND CNTYS WASH SCH DIST NO 401 STANWOOD UNLTD TAX GO BDS 2018</title>
        <cusip>833068ND7</cusip>
        <identifiers>
          <isin value="US833068ND78"/>
          <ticker value="SNOSCD"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1209850</valUSD>
        <pctVal>0.1336421069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FREDERICK CNTY MD</name>
        <lei>N/A</lei>
        <title>FREDERICK CNTY MD GO PUB FACS REF BDS 2012</title>
        <cusip>3556946Y1</cusip>
        <identifiers>
          <isin value="US3556946Y11"/>
          <ticker value="FRE"/>
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        <balance>4985000</balance>
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        <curCd>USD</curCd>
        <valUSD>5069445.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>WASHINGTON D C MET AREA TRAN AUTH</name>
        <lei>549300ADKOK76HQMJS30</lei>
        <title>WASHINGTON D C MET AREA TRAN AUTH GROSS REV TRAN BDS 2018</title>
        <cusip>938782FZ7</cusip>
        <identifiers>
          <isin value="US938782FZ74"/>
          <ticker value="DCTGEN"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1198300</valUSD>
        <pctVal>0.1323662741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</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>ADAMS 12 FIVE STAR SCHS COLO</name>
        <lei>N/A</lei>
        <title>ADAMS 12 FIVE STAR SCHS COLO GO BDS 2018</title>
        <cusip>006449HE5</cusip>
        <identifiers>
          <isin value="US006449HE52"/>
          <ticker value="ADASCD"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3383790</valUSD>
        <pctVal>0.3737792494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>HENRY CNTY GA SCH DIST</name>
        <lei>N/A</lei>
        <title>HENRY CNTY GA SCH DIST GO BDS 2018</title>
        <cusip>426362ML0</cusip>
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          <isin value="US426362ML00"/>
          <ticker value="HENSCD"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST MTR VEH FUEL TAX GO REF BDS R-2013B</title>
        <cusip>93974C3Y4</cusip>
        <identifiers>
          <isin value="US93974C3Y40"/>
          <ticker value="WAS"/>
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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>BEXAR CNTY TEX</name>
        <lei>N/A</lei>
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        <cusip>088281LU2</cusip>
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          <isin value="US088281LU22"/>
          <ticker value="BEX"/>
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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>2020-06-15</maturityDt>
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        <name>FORSYTH CNTY GA WTR &amp; SEW AUTH</name>
        <lei>N/A</lei>
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        <cusip>346609KB5</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TEXAS ST</name>
        <lei>549300X9CH74QB747L76</lei>
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        <cusip>882721RM7</cusip>
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          <isin value="US882721RM79"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7000000</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>2036-04-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
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        <cusip>34153PVF2</cusip>
        <identifiers>
          <isin value="US34153PVF25"/>
          <ticker value="FLSEDU"/>
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        <balance>4845000</balance>
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        <valUSD>4924070.4</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>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>PATRIOTS ENERGY GROUP FING AGY S C</name>
        <lei>5493008X0DFBVFH4HL19</lei>
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        <cusip>70342PAK0</cusip>
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          <isin value="US70342PAK03"/>
          <ticker value="PEGUTL"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5450700</valUSD>
        <pctVal>0.6020936744</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>2048-10-01</maturityDt>
          <couponKind>Variable</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>ANN ARBOR MICH</name>
        <lei>N/A</lei>
        <title>ANN ARBOR MICH CAP IMPT REF LTD TAX GO BDS 2019</title>
        <cusip>035438HH6</cusip>
        <identifiers>
          <isin value="US035438HH69"/>
          <ticker value="ANN"/>
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        <balance>1565000</balance>
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        <curCd>USD</curCd>
        <valUSD>1570962.65</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OKLAHOMA CNTY OKLA FIN AUTH</name>
        <lei>549300KPR05JUN0F1289</lei>
        <title>OKLAHOMA CNTY OKLA FIN AUTH BDS 2018</title>
        <cusip>67868UFW8</cusip>
        <identifiers>
          <isin value="US67868UFW80"/>
          <ticker value="OKSEDU"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1197490</valUSD>
        <pctVal>0.1322768001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>METROPOLITAN TRANSN AUTH N Y GREEN BDS 2019 A-1</title>
        <cusip>59261AXR3</cusip>
        <identifiers>
          <isin value="US59261AXR30"/>
          <ticker value="MTATRN"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2329260</valUSD>
        <pctVal>0.2572940562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>WEST VIRGINIA UNIV</name>
        <lei>N/A</lei>
        <title>WEST VIRGINIA UNIV REV BDS 2011</title>
        <cusip>956704XL9</cusip>
        <identifiers>
          <isin value="US956704XL91"/>
          <ticker value="WVSHGR"/>
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        <balance>2595000</balance>
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        <curCd>USD</curCd>
        <valUSD>2749272.75</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>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WALLA WALLA CNTY WASH SCH DIST NO 250 COLLEGE PL</name>
        <lei>N/A</lei>
        <title>WALLA WALLA CNTY WASH SCH DIST NO 250 COLLEGE PL UNLTD TAX GO BDS 2012</title>
        <cusip>932190FR7</cusip>
        <identifiers>
          <isin value="US932190FR73"/>
          <ticker value="WALSCD"/>
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        <balance>2445000</balance>
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        <curCd>USD</curCd>
        <valUSD>2613729.45</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
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        <cusip>34153QRE8</cusip>
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          <isin value="US34153QRE88"/>
          <ticker value="FLSEDU"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SOUTHWEST TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>SOUTHWEST TEX INDPT SCH DIST ULTD TAX SCH BLDG BDS 2019</title>
        <cusip>845267YW7</cusip>
        <identifiers>
          <isin value="US845267YW75"/>
          <ticker value="SWXSCD"/>
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        <balance>915000</balance>
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        <valUSD>1154107.8</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</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>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>MARYLAND ST GO BDS 2012 B</title>
        <cusip>574193GE2</cusip>
        <identifiers>
          <isin value="US574193GE25"/>
          <ticker value="MDS"/>
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        <balance>4075000</balance>
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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>
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          <maturityDt>2024-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOUSTON TEX</name>
        <lei>549300C64URYS0WQQY42</lei>
        <title>HOUSTON TEX FIRST LIEN REV REF BDS 2014 C</title>
        <cusip>4424354J9</cusip>
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          <isin value="US4424354J98"/>
          <ticker value="HOUUTL"/>
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        <balance>1560000</balance>
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        <curCd>USD</curCd>
        <valUSD>1582183.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KATY TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>KATY TEX INDPT SCH DIST VAR RT UNLTD TAX REF BDS 2015 C</title>
        <cusip>486063YS3</cusip>
        <identifiers>
          <isin value="US486063YS39"/>
          <ticker value="KATSCD"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1999740</valUSD>
        <pctVal>0.2208947116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.445000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>WASHINGTON ST</name>
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        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
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        <name>METROPOLITAN ATLANTA RAPID TRAN AUTH GA</name>
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        <name>FLORIDA ST TPK AUTH</name>
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        <name>SARASOTA CNTY FLA</name>
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          <ticker value="SARGEN"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CARROLL CNTY KY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TENNERGY CORP TENN</name>
        <lei>5493008K3JJFBSC4C235</lei>
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          <ticker value="TGYPWR"/>
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        <fairValLevel>2</fairValLevel>
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        <name>COLUMBIA MO SCH DIST</name>
        <lei>549300HX7SMG44WYDM73</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PRIVATE COLLEGES &amp; UNIVS AUTH GA</name>
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        <name>SAN ANTONIO TEX</name>
        <lei>5493002G2FEH20Q4GQ04</lei>
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        <name>SANGAMON CNTY ILL SCH DIST NO 186 SPRINGFIELD</name>
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        <name>COOK CNTY ILL CMNTY CONS SCH DIST NO 21 WHEELING</name>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PIERCE CNTY WASH SCH DIST NO 83 UNIV PL</name>
        <lei>N/A</lei>
        <title>PIERCE CNTY WASH SCH DIST NO 83 UNIV PL UNLTD TAX GO REF BDS 2015</title>
        <cusip>720475SU7</cusip>
        <identifiers>
          <isin value="US720475SU78"/>
          <ticker value="PIESCD"/>
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        <balance>3205000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3761067.5</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>2026-12-01</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>HAWAII ST</name>
        <lei>N/A</lei>
        <title>HAWAII ST GO BDS 2019FW</title>
        <cusip>419792XM3</cusip>
        <identifiers>
          <isin value="US419792XM35"/>
          <ticker value="HIS"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4979280</valUSD>
        <pctVal>0.5500198124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK N Y CITY TRANSITIONAL FIN AUTH FUTURE TAX SECD SUB BDS 2019 A-4</title>
        <cusip>64971XFY9</cusip>
        <identifiers>
          <isin value="US64971XFY94"/>
          <ticker value="NYCGEN"/>
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        <balance>13000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13000000</valUSD>
        <pctVal>1.4360023057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>N/A</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>
        <name>INDIANAPOLIS IND LOC PUB IMPT BD BK</name>
        <lei>549300LX8ESJHDSESB87</lei>
        <title>INDIANAPOLIS IND LOC PUB IMPT BD BK REV BDS 2015A</title>
        <cusip>45528UML2</cusip>
        <identifiers>
          <isin value="US45528UML25"/>
          <ticker value="INPGEN"/>
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        <balance>1490000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1547916.3</valUSD>
        <pctVal>0.1709854904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COOK CNTY ILL CMNTY CONS SCH DIST NO 21 WHEELING</name>
        <lei>N/A</lei>
        <title>COOK CNTY ILL CMNTY CONS SCH DIST NO 21 WHEELING GO SCH BLDG BDS 2019A</title>
        <cusip>213309NA1</cusip>
        <identifiers>
          <isin value="US213309NA18"/>
          <ticker value="COOSCD"/>
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        <balance>2600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3201250</valUSD>
        <pctVal>0.3536155678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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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>CONNECTICUT ST</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>CONNECTICUT ST GO REF BDS 2018 F</title>
        <cusip>20772KEJ4</cusip>
        <identifiers>
          <isin value="US20772KEJ43"/>
          <ticker value="CTS"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2269420</valUSD>
        <pctVal>0.2506840271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-15</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNION CNTY N J</name>
        <lei>N/A</lei>
        <title>UNION CNTY N J BDS 2012</title>
        <cusip>90634PHU6</cusip>
        <identifiers>
          <isin value="US90634PHU66"/>
          <ticker value="UNN"/>
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        <balance>147000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147463.05</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>2020-03-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COOK CNTY ILL CMNTY COLLEGE DIST NO 504 TRITON</name>
        <lei>N/A</lei>
        <title>COOK CNTY ILL CMNTY COLLEGE DIST NO 504 TRITON GO BDS 2014</title>
        <cusip>216057DM8</cusip>
        <identifiers>
          <isin value="US216057DM88"/>
          <ticker value="COOHGR"/>
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        <balance>1150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1253776</valUSD>
        <pctVal>0.1384942482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST GO REF BDS R-2013C</title>
        <cusip>93974C8F0</cusip>
        <identifiers>
          <isin value="US93974C8F06"/>
          <ticker value="WAS"/>
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        <balance>1840000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2007403.2</valUSD>
        <pctVal>0.2217412018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
        <name>NEW YORK N Y</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>NEW YORK N Y GO BDS 2014 I-2</title>
        <cusip>64966LLS8</cusip>
        <identifiers>
          <isin value="US64966LLS87"/>
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        <balance>1325000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1325000</valUSD>
        <pctVal>0.1463617735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.670000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNION CNTY N J</name>
        <lei>N/A</lei>
        <title>UNION CNTY N J BDS 2012</title>
        <cusip>90634PHK8</cusip>
        <identifiers>
          <isin value="US90634PHK84"/>
          <ticker value="UNN"/>
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        <balance>55000</balance>
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        <curCd>USD</curCd>
        <valUSD>55160.6</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK N Y CITY TRANSITIONAL FIN AUTH FUTURE TAX SECURED SUB BDS FISCAL 2013</title>
        <cusip>64971QM34</cusip>
        <identifiers>
          <isin value="US64971QM345"/>
          <ticker value="NYCGEN"/>
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        <balance>1290000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1431900</valUSD>
        <pctVal>0.1581701309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-01</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>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST VAR PURP GO REF BDS</title>
        <cusip>13063DFV5</cusip>
        <identifiers>
          <isin value="US13063DFV55"/>
          <ticker value="CAS"/>
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        <balance>3845000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4670636.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-01</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>KENTUCKY RURAL WTR FIN CORP</name>
        <lei>N/A</lei>
        <title>KENTUCKY RURAL WTR FIN CORP CONSTR NTS E-2018-1</title>
        <cusip>49140M5E5</cusip>
        <identifiers>
          <isin value="US49140M5E51"/>
          <ticker value="KYSWTR"/>
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        <balance>1265000</balance>
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        <curCd>USD</curCd>
        <valUSD>1265619.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLARK CNTY NEV</name>
        <lei>N/A</lei>
        <title>CLARK CNTY NEV GO LTD TAX TRANS REF BDS 2019 A</title>
        <cusip>180848G31</cusip>
        <identifiers>
          <isin value="US180848G313"/>
          <ticker value="CLA"/>
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        <balance>2555000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2744938.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</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>HUMBLE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>HUMBLE TEX INDPT SCH DIST GO SCH BLDG BDS 2011</title>
        <cusip>4450428L1</cusip>
        <identifiers>
          <isin value="US4450428L18"/>
          <ticker value="HUMSCD"/>
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        <balance>1365000</balance>
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        <curCd>USD</curCd>
        <valUSD>1371197.1</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <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>
        <name>CHAMPAIGN COLES ET AL CNTYS ILL CMNTY COLLEGE DIST NO 505</name>
        <lei>N/A</lei>
        <title>CHAMPAIGN COLES ET AL CNTYS ILL CMNTY COLLEGE DIST NO 505 GO REF BDS 2018 B</title>
        <cusip>158168GY4</cusip>
        <identifiers>
          <isin value="US158168GY40"/>
          <ticker value="CHAHGR"/>
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        <balance>1315000</balance>
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        <curCd>USD</curCd>
        <valUSD>1536051.5</valUSD>
        <pctVal>0.1696748843</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>ALBUQUERQUE BERNALILLO CNTY WTR UTIL AUTH N MEX JT WTR &amp; SWR SYS</name>
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        <name>WASHINGTON SUBN SAN DIST MD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MINNESOTA ST</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK N Y CITY MUN WTR FIN AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOUISIANA LOC GOVT ENVIRONMENTAL FACS &amp; CMNTY DEV AUTH</name>
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        <cusip>54628CCF7</cusip>
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          <isin value="US54628CCF77"/>
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        <name>CALIFORNIA MUN FIN AUTH</name>
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        <cusip>13048VHA9</cusip>
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          <isin value="US13048VHA98"/>
          <ticker value="CASFIN"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.000000000000</annualizedRt>
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        <name>PENNSYLVANIA ST</name>
        <lei>N/A</lei>
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          <isin value="US70914PSQ62"/>
          <ticker value="PAS"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>METROPOLITAN GOVT NASHVILLE &amp; DAVIDSON CNTY TENN</name>
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          <ticker value="MET"/>
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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>METROPOLITAN TRANSN AUTH N Y</name>
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        <cusip>59261AA49</cusip>
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          <ticker value="MTATRN"/>
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      <invstOrSec>
        <name>WASHINGTON MULTNOMAH &amp; YAMHILLCNTYS ORE SCH DIST NO 1J HILLSBORO</name>
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          <isin value="US939307GS76"/>
          <ticker value="WASSCD"/>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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          <isin value="US13063DLN65"/>
          <ticker value="CAS"/>
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        <name>HAMILTON CNTY TENN</name>
        <lei>N/A</lei>
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          <ticker value="HAM"/>
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        <name>NORTHSIDE TEX INDPT SCH DIST</name>
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          <isin value="US66702RCE09"/>
          <ticker value="NSDSCD"/>
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        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
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        <name>TENNESSEE ST</name>
        <lei>N/A</lei>
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          <isin value="US880541ZL49"/>
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      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>WISCONSIN ST GO REF BDS</title>
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          <isin value="US97705L3L99"/>
          <ticker value="WIS"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <cusip>93974EBE5</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
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        <cusip>977123V88</cusip>
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          <ticker value="WISTRN"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-01</maturityDt>
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      <invstOrSec>
        <name>MADISON WIS</name>
        <lei>N/A</lei>
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        <cusip>55844RSA3</cusip>
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          <isin value="US55844RSA31"/>
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        <balance>475000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
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      <invstOrSec>
        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
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        <cusip>64971QST1</cusip>
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          <isin value="US64971QST12"/>
          <ticker value="NYCGEN"/>
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        <balance>2000000</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>2026-02-01</maturityDt>
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      <invstOrSec>
        <name>CONNECTICUT ST</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>CONNECTICUT ST GO BDS 2013A</title>
        <cusip>20772JRJ3</cusip>
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          <isin value="US20772JRJ33"/>
          <ticker value="CTS"/>
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        <balance>8000000</balance>
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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>2020-10-15</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>ALBANY CNTY N Y</name>
        <lei>549300GBQON0LOLHN826</lei>
        <title>ALBANY CNTY N Y VAR PURP BDS 2019 A</title>
        <cusip>01212PBU9</cusip>
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          <ticker value="ALB"/>
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        <balance>930000</balance>
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        <curCd>USD</curCd>
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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>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KENTUCKY INC KY PUB ENERGY AUTH</name>
        <lei>549300XEJZWHYSY4SL55</lei>
        <title>KENTUCKY INC KY PUB ENERGY AUTH BDS 2018 B</title>
        <cusip>74440DBD5</cusip>
        <identifiers>
          <isin value="US74440DBD57"/>
          <ticker value="KYSPWR"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5521200</valUSD>
        <pctVal>0.6098812254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MICHIGAN FIN AUTH</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>MICHIGAN FIN AUTH WTR REV BDS 2011</title>
        <cusip>59447PHF1</cusip>
        <identifiers>
          <isin value="US59447PHF18"/>
          <ticker value="MISFIN"/>
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        <balance>2805000</balance>
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        <curCd>USD</curCd>
        <valUSD>2887971.9</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>2020-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST VAR PURP GO BDS 2020A</title>
        <cusip>93974EAC0</cusip>
        <identifiers>
          <isin value="US93974EAC03"/>
          <ticker value="WAS"/>
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        <balance>7500000</balance>
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        <curCd>USD</curCd>
        <valUSD>9033675</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>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>COOK CNTY ILL SCH DIST NO 144</name>
        <lei>N/A</lei>
        <title>COOK CNTY ILL SCH DIST NO 144 LTD GO SCH BDS 2010-A</title>
        <cusip>215021MK9</cusip>
        <identifiers>
          <isin value="US215021MK92"/>
          <ticker value="COOSCD"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>517390</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>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST VAR PURP GO REF BDS C</title>
        <cusip>13063DDQ8</cusip>
        <identifiers>
          <isin value="US13063DDQ88"/>
          <ticker value="CAS"/>
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        <balance>3250000</balance>
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        <curCd>USD</curCd>
        <valUSD>4025515</valUSD>
        <pctVal>0.4446652940</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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>AIKEN CNTY S C CONS SCH DIST</name>
        <lei>N/A</lei>
        <title>AIKEN CNTY S C CONS SCH DIST GO BDS 2018B</title>
        <cusip>008770QR3</cusip>
        <identifiers>
          <isin value="US008770QR36"/>
          <ticker value="AIKSCD"/>
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        <balance>3530000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3563535</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>HARDIN CNTY TENN</name>
        <lei>N/A</lei>
        <title>HARDIN CNTY TENN GO REF BDS 2019</title>
        <cusip>412036QP3</cusip>
        <identifiers>
          <isin value="US412036QP32"/>
          <ticker value="HDN"/>
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        <balance>540000</balance>
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        <curCd>USD</curCd>
        <valUSD>627906.6</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>HAWAII ST</name>
        <lei>N/A</lei>
        <title>HAWAII ST GO BDS 2012</title>
        <cusip>419791T73</cusip>
        <identifiers>
          <isin value="US419791T733"/>
          <ticker value="HIS"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5357500</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>COLORADO ST</name>
        <lei>N/A</lei>
        <title>COLORADO ST 2018 A</title>
        <cusip>196711QS7</cusip>
        <identifiers>
          <isin value="US196711QS71"/>
          <ticker value="COSCTF"/>
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        <balance>3800000</balance>
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        <curCd>USD</curCd>
        <valUSD>4221762</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>PLANO TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>PLANO TEX INDPT SCH DIST UNLTD TAX BLDG BDS 2018</title>
        <cusip>727199ZN4</cusip>
        <identifiers>
          <isin value="US727199ZN45"/>
          <ticker value="PNOSCD"/>
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        <balance>1210000</balance>
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        <curCd>USD</curCd>
        <valUSD>1215469.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GARLAND TEX</name>
        <lei>549300O5KXJ5HAWVEN53</lei>
        <title>GARLAND TEX GO REF BDS 2016</title>
        <cusip>366119X26</cusip>
        <identifiers>
          <isin value="US366119X260"/>
          <ticker value="GAR"/>
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        <balance>2390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2400922.3</valUSD>
        <pctVal>0.2652099968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLUMBUS OHIO</name>
        <lei>N/A</lei>
        <title>COLUMBUS OHIO GO BDS 2018 A</title>
        <cusip>199492VU0</cusip>
        <identifiers>
          <isin value="US199492VU04"/>
          <ticker value="COL"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1742205</valUSD>
        <pctVal>0.1924469536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-04-01</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>OREGON ST</name>
        <lei>549300R5SUGZRD8KP359</lei>
        <title>OREGON ST GO BDS 2013L</title>
        <cusip>68608UZR0</cusip>
        <identifiers>
          <isin value="US68608UZR03"/>
          <ticker value="ORS"/>
        </identifiers>
        <balance>905000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>968675.8</valUSD>
        <pctVal>0.1070015909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-01</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>HAVERSTRAW STONY POINT N Y CENT SCH DIST</name>
        <lei>N/A</lei>
        <title>HAVERSTRAW STONY POINT N Y CENT SCH DIST REF BDS 2019</title>
        <cusip>419578VM8</cusip>
        <identifiers>
          <isin value="US419578VM86"/>
          <ticker value="HSPSCD"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492282</valUSD>
        <pctVal>0.0543783144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EDINA &amp; MORNINGSIDE MINN INDPT SCH DIST NO 273</name>
        <lei>N/A</lei>
        <title>EDINA &amp; MORNINGSIDE MINN INDPT SCH DIST NO 273 GO SCH BLDG REF BDS 2011-B</title>
        <cusip>280659SK0</cusip>
        <identifiers>
          <isin value="US280659SK08"/>
          <ticker value="EDISCD"/>
        </identifiers>
        <balance>1960000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1965978</valUSD>
        <pctVal>0.2171653032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>WISCONSIN ST REF BDS 2015- 1</title>
        <cusip>977123L48</cusip>
        <identifiers>
          <isin value="US977123L482"/>
          <ticker value="WISTRN"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5845200</valUSD>
        <pctVal>0.6456708213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</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>WEST WINDSOR PLAINSBORO N J REGL SCH DIST</name>
        <lei>N/A</lei>
        <title>WEST WINDSOR PLAINSBORO N J REGL SCH DIST BDS</title>
        <cusip>956882QW7</cusip>
        <identifiers>
          <isin value="US956882QW75"/>
          <ticker value="WSWSCD"/>
        </identifiers>
        <balance>2650000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2780088.5</valUSD>
        <pctVal>0.3070933459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CONNECTICUT ST</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>CONNECTICUT ST GO REF BDS 2018 B</title>
        <cusip>20772KBP3</cusip>
        <identifiers>
          <isin value="US20772KBP30"/>
          <ticker value="CTS"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5913100</valUSD>
        <pctVal>0.6531711718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EATON RAPIDS MICH PUB SCHS</name>
        <lei>N/A</lei>
        <title>EATON RAPIDS MICH PUB SCHS GO REF BDS 2012</title>
        <cusip>278245HU2</cusip>
        <identifiers>
          <isin value="US278245HU20"/>
          <ticker value="ETRSCD"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>809816</valUSD>
        <pctVal>0.0894536649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MINNESOTA ST</name>
        <lei>N/A</lei>
        <title>MINNESOTA ST GO ST TRUNK HWY BDS 2011-B</title>
        <cusip>604129YJ9</cusip>
        <identifiers>
          <isin value="US604129YJ97"/>
          <ticker value="MNS"/>
        </identifiers>
        <balance>2030000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2168588.1</valUSD>
        <pctVal>0.2395459624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK ST DORM AUTH REV BDS 2012A</title>
        <cusip>64990HMP2</cusip>
        <identifiers>
          <isin value="US64990HMP28"/>
          <ticker value="NYSHGR"/>
        </identifiers>
        <balance>2840000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3099292</valUSD>
        <pctVal>0.3423531122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MICHIGAN FIN AUTH</name>
        <lei>54930022O46HOX5J1D14</lei>
        <title>MICHIGAN FIN AUTH REV AND REF BDS 2015MI</title>
        <cusip>59447P7H8</cusip>
        <identifiers>
          <isin value="US59447P7H89"/>
          <ticker value="MISFIN"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2215440</valUSD>
        <pctVal>0.2447213037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-01</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>UNIVERSITY COLO ENTERPRISE SYS</name>
        <lei>N/A</lei>
        <title>UNIVERSITY COLO ENTERPRISE SYS GREEN BDS REF BDS 2019 C</title>
        <cusip>91417K4W8</cusip>
        <identifiers>
          <isin value="US91417K4W87"/>
          <ticker value="UCOHGR"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3080310</valUSD>
        <pctVal>0.3402563279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LAFAYETTE LA PUB PWR AUTH</name>
        <lei>N/A</lei>
        <title>LAFAYETTE LA PUB PWR AUTH REV BDS 2012</title>
        <cusip>506479JH8</cusip>
        <identifiers>
          <isin value="US506479JH83"/>
          <ticker value="LAFPWR"/>
        </identifiers>
        <balance>1900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2094997</valUSD>
        <pctVal>0.2314169633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MAIN STR NAT GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>MAIN STR NAT GAS INC GA BDS 2018 C</title>
        <cusip>56035DAW2</cusip>
        <identifiers>
          <isin value="US56035DAW20"/>
          <ticker value="MAIUTL"/>
        </identifiers>
        <balance>3400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3706510</valUSD>
        <pctVal>0.4094274543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON CNTY KANS</name>
        <lei>N/A</lei>
        <title>JOHNSON CNTY KANS GO INTERNAL IMPT BDS 2014A</title>
        <cusip>47844PEW1</cusip>
        <identifiers>
          <isin value="US47844PEW14"/>
          <ticker value="JOH"/>
        </identifiers>
        <balance>835000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>888298.05</valUSD>
        <pctVal>0.0981229268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HENNEPIN CNTY MINN</name>
        <lei>549300YP457DT0GA0119</lei>
        <title>HENNEPIN CNTY MINN FIRST LIEN SALES TAX REV REF BDS 2017 A</title>
        <cusip>425538CX1</cusip>
        <identifiers>
          <isin value="US425538CX17"/>
          <ticker value="HENGEN"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1724985</valUSD>
        <pctVal>0.1905448029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SNOHOMISH CNTY WASH SCH DIST NO 15 EDMONDS</name>
        <lei>N/A</lei>
        <title>SNOHOMISH CNTY WASH SCH DIST NO 15 EDMONDS ULTD TAX GO BDS 2014</title>
        <cusip>833153TM1</cusip>
        <identifiers>
          <isin value="US833153TM10"/>
          <ticker value="SNOSCD"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>805455</valUSD>
        <pctVal>0.0889719413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</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>BALTIMORE MD</name>
        <lei>5493006QYFB72E0IOO54</lei>
        <title>BALTIMORE MD REV BDS 2013</title>
        <cusip>05922KUF4</cusip>
        <identifiers>
          <isin value="US05922KUF47"/>
          <ticker value="BALGEN"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1019180</valUSD>
        <pctVal>0.1125803715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEST HARRIS CNTY TEX REGL WTR AUTH</name>
        <lei>N/A</lei>
        <title>WEST HARRIS CNTY TEX REGL WTR AUTH REF BDS 2015 A</title>
        <cusip>95308RHZ5</cusip>
        <identifiers>
          <isin value="US95308RHZ55"/>
          <ticker value="WHRWTR"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>537110</valUSD>
        <pctVal>0.0593300922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-15</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>CHATTANOOGA TENN</name>
        <lei>N/A</lei>
        <title>CHATTANOOGA TENN GO BDS 2019 A</title>
        <cusip>162376DA2</cusip>
        <identifiers>
          <isin value="US162376DA25"/>
          <ticker value="CHA"/>
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        <balance>1450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1511045</valUSD>
        <pctVal>0.1669126234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-01</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>UNIVERSITY TEX</name>
        <lei>N/A</lei>
        <title>UNIVERSITY TEX REV FIN SYS BDS 2016 J</title>
        <cusip>91514AGQ2</cusip>
        <identifiers>
          <isin value="US91514AGQ22"/>
          <ticker value="UNIHGR"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2466660</valUSD>
        <pctVal>0.2724714960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</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>CHATTANOOGA TENN</name>
        <lei>N/A</lei>
        <title>CHATTANOOGA TENN GO REF BDS 2019 B</title>
        <cusip>162376DR5</cusip>
        <identifiers>
          <isin value="US162376DR59"/>
          <ticker value="CHA"/>
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        <balance>950000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>989995</valUSD>
        <pctVal>0.1093565464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-01</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>PARK RAPIDS MINN INDPT SCH DIST NO 309</name>
        <lei>N/A</lei>
        <title>PARK RAPIDS MINN INDPT SCH DIST NO 309 GO SCH BLDG REF BDS 2014A</title>
        <cusip>700739LH6</cusip>
        <identifiers>
          <isin value="US700739LH68"/>
          <ticker value="PKRSCD"/>
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        <balance>1410000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1414300.5</valUSD>
        <pctVal>0.1562260599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-01</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>FORT BEND TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>FORT BEND TEX INDPT SCH DIST ULTD TAX REF BDS 2012</title>
        <cusip>346843FZ3</cusip>
        <identifiers>
          <isin value="US346843FZ36"/>
          <ticker value="FORSCD"/>
        </identifiers>
        <balance>2685000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2946169.95</valUSD>
        <pctVal>0.3254389878</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>WISCONSIN ST REV BDS 2013 SERIES 1</title>
        <cusip>977123T24</cusip>
        <identifiers>
          <isin value="US977123T246"/>
          <ticker value="WISTRN"/>
        </identifiers>
        <balance>7505000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8487554.6</valUSD>
        <pctVal>0.9375498443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHIPPEWA VALLEY MICH SCHS</name>
        <lei>N/A</lei>
        <title>CHIPPEWA VALLEY MICH SCHS GO ULTD TAX REF BDS 2016 B</title>
        <cusip>170016ZY8</cusip>
        <identifiers>
          <isin value="US170016ZY87"/>
          <ticker value="CPVSCD"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3266550</valUSD>
        <pctVal>0.3608287178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</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>CURATORS UNIV MO</name>
        <lei>N/A</lei>
        <title>CURATORS UNIV MO REV BDS 2014A</title>
        <cusip>231266LS4</cusip>
        <identifiers>
          <isin value="US231266LS47"/>
          <ticker value="CURHGR"/>
        </identifiers>
        <balance>2320000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2724909.6</valUSD>
        <pctVal>0.3009981899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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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 REV BDS</title>
        <cusip>20774YX69</cusip>
        <identifiers>
          <isin value="US20774YX693"/>
          <ticker value="CTSMED"/>
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        <balance>3915000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3990285.45</valUSD>
        <pctVal>0.4407737774</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Variable</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>NEVADA SYS HIGHER ED UNIVS</name>
        <lei>N/A</lei>
        <title>NEVADA SYS HIGHER ED UNIVS REV BDS 2013B</title>
        <cusip>641496HY3</cusip>
        <identifiers>
          <isin value="US641496HY39"/>
          <ticker value="NVSEDU"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5632600</valUSD>
        <pctVal>0.6221866605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>MARYLAND ST GO ST AND LOCAL FACS LN 2013 SECOND SERIES A</title>
        <cusip>574193HR2</cusip>
        <identifiers>
          <isin value="US574193HR29"/>
          <ticker value="MDS"/>
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        <balance>2860000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2925036.4</valUSD>
        <pctVal>0.3231045396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-01</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>THURSTON &amp; PIERCE CNTYS WASH CMNTY SCHS</name>
        <lei>N/A</lei>
        <title>THURSTON &amp; PIERCE CNTYS WASH CMNTY SCHS UNLTD TAX GO BDS 2019</title>
        <cusip>886112FR7</cusip>
        <identifiers>
          <isin value="US886112FR76"/>
          <ticker value="THUSCD"/>
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        <balance>685000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>783948.25</valUSD>
        <pctVal>0.0865962688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</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>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK N Y CITY TRANSITIONAL FIN AUTH BDS 2020 SUB S-1A</title>
        <cusip>64972H2U5</cusip>
        <identifiers>
          <isin value="US64972H2U50"/>
          <ticker value="NYCFAC"/>
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        <balance>1140000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1435510.8</valUSD>
        <pctVal>0.1585689861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</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>
        <name>NEW YORK N Y</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>NEW YORK N Y VAR GO BDS FISCAL 2018 E</title>
        <cusip>64966QAA8</cusip>
        <identifiers>
          <isin value="US64966QAA85"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10000000</valUSD>
        <pctVal>1.1046171582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.700000000000</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>COPPELL TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>COPPELL TEX INDPT SCH DIST UNLTD TAX SCH BLDG BDS 2019</title>
        <cusip>217490AG6</cusip>
        <identifiers>
          <isin value="US217490AG66"/>
          <ticker value="CPPSCD"/>
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        <balance>2460000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3096623.4</valUSD>
        <pctVal>0.3420583340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HENNEPIN CNTY MINN</name>
        <lei>549300YP457DT0GA0119</lei>
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        <cusip>425507JB7</cusip>
        <identifiers>
          <isin value="US425507JB70"/>
          <ticker value="HEN"/>
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        <balance>1175000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PRINCE GEORGES CNTY MD</name>
        <lei>549300NSQ1W50I0VU811</lei>
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        <cusip>7417014N3</cusip>
        <identifiers>
          <isin value="US7417014N38"/>
          <ticker value="PRI"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CUYAHOGA CNTY OHIO</name>
        <lei>549300GHDK9DGLUNJU89</lei>
        <title>CUYAHOGA CNTY OHIO REV BDS 2014</title>
        <cusip>232287BA9</cusip>
        <identifiers>
          <isin value="US232287BA91"/>
          <ticker value="CUYGEN"/>
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        <balance>1115000</balance>
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        <curCd>USD</curCd>
        <valUSD>1197443.1</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
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        <cusip>59261APQ4</cusip>
        <identifiers>
          <isin value="US59261APQ49"/>
          <ticker value="MTATRN"/>
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        <balance>6000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7030860</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>VIRGINIA ST PUB SCH AUTH</name>
        <lei>N/A</lei>
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        <cusip>92818HAG6</cusip>
        <identifiers>
          <isin value="US92818HAG65"/>
          <ticker value="VASSCD"/>
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        <balance>1260000</balance>
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        <curCd>USD</curCd>
        <valUSD>1338082.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATLANTA GA</name>
        <lei>549300GHLQ0J51NUBM84</lei>
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        <cusip>047870QW3</cusip>
        <identifiers>
          <isin value="US047870QW36"/>
          <ticker value="ATLUTL"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1209270</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>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK N Y CITY TRANSITIONAL FIN AUTH FUTURE SUB TAX BDS 2015 E-3</title>
        <cusip>64971WUK4</cusip>
        <identifiers>
          <isin value="US64971WUK43"/>
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        <balance>2700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2700000</valUSD>
        <pctVal>0.2982466327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.670000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROWARD CNTY FLA</name>
        <lei>N/A</lei>
        <title>BROWARD CNTY FLA BDS 2019 B</title>
        <cusip>114894ZC5</cusip>
        <identifiers>
          <isin value="US114894ZC54"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4316515</valUSD>
        <pctVal>0.4768096533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>LEANDER TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>LEANDER TEX INDPT SCH DIST ULT TAX REF BDS 2011</title>
        <cusip>5218408A9</cusip>
        <identifiers>
          <isin value="US5218408A98"/>
          <ticker value="LDRSCD"/>
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        <balance>1600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1628624</valUSD>
        <pctVal>0.1799006015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST DEPT WTR RES</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST DEPT WTR RES REV BDS AS</title>
        <cusip>13067WJW3</cusip>
        <identifiers>
          <isin value="US13067WJW38"/>
          <ticker value="CASWTR"/>
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        <balance>90000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96903.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRGINIA ST RES AUTH</name>
        <lei>N/A</lei>
        <title>VIRGINIA ST RES AUTH BDS 2019A</title>
        <cusip>92818M3H1</cusip>
        <identifiers>
          <isin value="US92818M3H16"/>
          <ticker value="VASGEN"/>
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        <balance>1110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1231445.1</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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 BDS DD-2</title>
        <cusip>64972GDC5</cusip>
        <identifiers>
          <isin value="US64972GDC50"/>
          <ticker value="NYCUTL"/>
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        <balance>15100000</balance>
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        <curCd>USD</curCd>
        <valUSD>15100000</valUSD>
        <pctVal>1.6679719089</pctVal>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.670000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>CENTRAL PLAINS ENERGY PROJ NEB</name>
        <lei>SVQOT7V5CPLIGNP5BE29</lei>
        <title>CENTRAL PLAINS ENERGY PROJ NEB REF BDS 2019</title>
        <cusip>154872AT2</cusip>
        <identifiers>
          <isin value="US154872AT23"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1678470</valUSD>
        <pctVal>0.1854066762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>
        <name>NEW YORK ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK ST DORM AUTH REV BDS 2012</title>
        <cusip>64990EP76</cusip>
        <identifiers>
          <isin value="US64990EP765"/>
          <ticker value="NYSHGR"/>
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        <balance>1225000</balance>
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        <curCd>USD</curCd>
        <valUSD>1323281.75</valUSD>
        <pctVal>0.1461719726</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</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>
        <name>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA ST FIN AUTH SECOND LIEN REV BDS 2014B</title>
        <cusip>45505KAU4</cusip>
        <identifiers>
          <isin value="US45505KAU43"/>
          <ticker value="INSUTL"/>
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        <balance>1750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1816622.5</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>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</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>GALLIA CNTY OHIO LOC SCH DIST</name>
        <lei>N/A</lei>
        <title>GALLIA CNTY OHIO LOC SCH DIST SCH IMPT REF BDS 2014</title>
        <cusip>363815DP3</cusip>
        <identifiers>
          <isin value="US363815DP39"/>
          <ticker value="GLLSCD"/>
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        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>773265</valUSD>
        <pctVal>0.0854161787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-11-01</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>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST VAR PURP GO REF BDS R-2013A</title>
        <cusip>93974C4N7</cusip>
        <identifiers>
          <isin value="US93974C4N75"/>
          <ticker value="WAS"/>
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        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>821355</valUSD>
        <pctVal>0.0907282826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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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>DENVER COLO CITY &amp; CNTY</name>
        <lei>N/A</lei>
        <title>DENVER COLO CITY &amp; CNTY GO ELEVATE BDS 2019 C</title>
        <cusip>249164PV0</cusip>
        <identifiers>
          <isin value="US249164PV01"/>
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        <balance>2225000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2820454.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS ST SCH BLDG AUTH</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST SCH BLDG AUTH SR DEDICATED SALES TAX REF BDS 2012A</title>
        <cusip>576000MK6</cusip>
        <identifiers>
          <isin value="US576000MK68"/>
          <ticker value="MASEDU"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11002700</valUSD>
        <pctVal>1.2153771207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-15</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LEES SUMMIT MO</name>
        <lei>N/A</lei>
        <title>LEES SUMMIT MO GO BDS 2013A</title>
        <cusip>524282MG2</cusip>
        <identifiers>
          <isin value="US524282MG22"/>
          <ticker value="LEE"/>
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        <balance>2925000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3018951</valUSD>
        <pctVal>0.3334785074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <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>
        <name>COLUMBUS OHIO</name>
        <lei>N/A</lei>
        <title>COLUMBUS OHIO VAR PURP UNLTD TAX GO BDS 2019 A</title>
        <cusip>199492YK9</cusip>
        <identifiers>
          <isin value="US199492YK94"/>
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        <balance>3650000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4569216</valUSD>
        <pctVal>0.5047234393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MINNESOTA ST</name>
        <lei>N/A</lei>
        <title>MINNESOTA ST GO ST REF BDS 2010</title>
        <cusip>604129XG6</cusip>
        <identifiers>
          <isin value="US604129XG67"/>
          <ticker value="MNS"/>
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        <balance>3040000</balance>
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        <curCd>USD</curCd>
        <valUSD>3108430.4</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>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ARLINGTON TEX WTR &amp; WASTEWATER SYS</name>
        <lei>N/A</lei>
        <title>ARLINGTON TEX WTR &amp; WASTEWATER SYS REF BDS 2019B</title>
        <cusip>04184KWE1</cusip>
        <identifiers>
          <isin value="US04184KWE18"/>
          <ticker value="ARLWTR"/>
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        <balance>1605000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1617727.65</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TEXAS ST</name>
        <lei>N/A</lei>
        <title>TEXAS ST GO WTR FINL ASSISTANCE REF BDS 2019 C-2</title>
        <cusip>882724MC8</cusip>
        <identifiers>
          <isin value="US882724MC81"/>
          <ticker value="TXS"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2005500</valUSD>
        <pctVal>0.2215309711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.850000000000</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>KING CNTY WASH SCH DIST NO 411 ISSAQUAH</name>
        <lei>N/A</lei>
        <title>KING CNTY WASH SCH DIST NO 411 ISSAQUAH GO REF BDS 2012</title>
        <cusip>495224V95</cusip>
        <identifiers>
          <isin value="US495224V951"/>
          <ticker value="KINSCD"/>
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        <balance>1045000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1161068.15</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>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JORDAN VY WTR CONSERVANCY DIST UTAH WTR CONSERVANCY</name>
        <lei>N/A</lei>
        <title>JORDAN VY WTR CONSERVANCY DIST UTAH WTR CONSERVANCY WTR REV REF BDS 2014</title>
        <cusip>480780HK4</cusip>
        <identifiers>
          <isin value="US480780HK41"/>
          <ticker value="JORWTR"/>
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        <balance>45000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45135.45</valUSD>
        <pctVal>0.0049857393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JORDAN VY WTR CONSERVANCY DIST UTAH WTR CONSERVANCY</name>
        <lei>N/A</lei>
        <title>JORDAN VY WTR CONSERVANCY DIST UTAH WTR CONSERVANCY WTR REV REF BDS 2014</title>
        <cusip>480780HL2</cusip>
        <identifiers>
          <isin value="US480780HL24"/>
          <ticker value="JORWTR"/>
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        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30090</valUSD>
        <pctVal>0.0033237930</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
        <title>FLORIDA ST BRD ED PUB EDUC CAPITAL OUTLAY REF BDS 2011C</title>
        <cusip>34153PE38</cusip>
        <identifiers>
          <isin value="US34153PE387"/>
          <ticker value="FLSEDU"/>
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        <balance>2005000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2112407.85</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>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ARIZONA ST TRANSN BRD</name>
        <lei>N/A</lei>
        <title>ARIZONA ST TRANSN BRD REV BDS 2018</title>
        <cusip>040649MQ5</cusip>
        <identifiers>
          <isin value="US040649MQ58"/>
          <ticker value="AZSTRN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548220</valUSD>
        <pctVal>0.0605573218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JACKSON CNTY MO CONS SCH DIST NO 2</name>
        <lei>N/A</lei>
        <title>JACKSON CNTY MO CONS SCH DIST NO 2 GO REF BDS 2014</title>
        <cusip>467430NX8</cusip>
        <identifiers>
          <isin value="US467430NX80"/>
          <ticker value="JACSCD"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1187180</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DISTRICT COLUMBIA</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>DISTRICT COLUMBIA INCOME TAX SECURED REV BDS 2010</title>
        <cusip>25477GED3</cusip>
        <identifiers>
          <isin value="US25477GED34"/>
          <ticker value="DISGEN"/>
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        <balance>6800000</balance>
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        <curCd>USD</curCd>
        <valUSD>6906692</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JANESVILLE WIS</name>
        <lei>549300OYH8ZKJ8AGQ917</lei>
        <title>JANESVILLE WIS GO PROM NTS 2019 A</title>
        <cusip>4708443D1</cusip>
        <identifiers>
          <isin value="US4708443D10"/>
          <ticker value="JAN"/>
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        <balance>455000</balance>
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        <curCd>USD</curCd>
        <valUSD>462525.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST TWY AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK ST TWY AUTH REV BDS 2012A</title>
        <cusip>650028UV3</cusip>
        <identifiers>
          <isin value="US650028UV33"/>
          <ticker value="NYSTRN"/>
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        <balance>3585000</balance>
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        <curCd>USD</curCd>
        <valUSD>3822828.9</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>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK N Y CITY MUN WTR FIN AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK N Y CITY MUN WTR FIN AUTH SECOND GEN RESOLUTION BDS FISCAL 2020 CC-2</title>
        <cusip>64972GVU5</cusip>
        <identifiers>
          <isin value="US64972GVU56"/>
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        <balance>4000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4808600</valUSD>
        <pctVal>0.5311662067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>NEW JERSEY ST TRANSN TR FD AUTH</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY ST TRANSN TR FD AUTH SYS BDS 2019 A</title>
        <cusip>6461366C0</cusip>
        <identifiers>
          <isin value="US6461366C00"/>
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        <balance>1000000</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>2026-12-15</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>LAREDO TEX</name>
        <lei>N/A</lei>
        <title>LAREDO TEX PUB PPTY FIN CONTRACTUAL OBLIG 2019</title>
        <cusip>516824JT7</cusip>
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          <isin value="US516824JT72"/>
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        <balance>800000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>TENNESSEE ST</name>
        <lei>N/A</lei>
        <title>TENNESSEE ST GO BDS 2016</title>
        <cusip>880541XG7</cusip>
        <identifiers>
          <isin value="US880541XG71"/>
          <ticker value="TNS"/>
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        <balance>1300000</balance>
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        <curCd>USD</curCd>
        <valUSD>1570517</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>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BAY AREA TOLL AUTH CALIF</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA TOLL AUTH CALIF BDS 2018 A</title>
        <cusip>072024VU3</cusip>
        <identifiers>
          <isin value="US072024VU34"/>
          <ticker value="BAYTRN"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3210930</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>2045-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.625000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLENDALE ARIZ UN HIGH SCH DIST NO 205</name>
        <lei>N/A</lei>
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        <cusip>378334NK8</cusip>
        <identifiers>
          <isin value="US378334NK81"/>
          <ticker value="GLESCD"/>
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        <balance>940000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1027241.4</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARICOPA CNTY ARIZ UNI SCH DIST NO 97 DEER VY</name>
        <lei>N/A</lei>
        <title>MARICOPA CNTY ARIZ UNI SCH DIST NO 97 DEER VY GO BDS 2016</title>
        <cusip>567438TF3</cusip>
        <identifiers>
          <isin value="US567438TF36"/>
          <ticker value="MARSCD"/>
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        <balance>970000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024931.1</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>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GEORGIA ST</name>
        <lei>N/A</lei>
        <title>GEORGIA ST GO BDS 2018 A</title>
        <cusip>373385CD3</cusip>
        <identifiers>
          <isin value="US373385CD33"/>
          <ticker value="GAS"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1019530</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
        <lei>5493003476LG35QAKM08</lei>
        <title>NEW YORK N Y CITY TRANSITIONAL FIN AUTH FUTURE TAX SECURED SUBORDINATE BDS 2012 A</title>
        <cusip>64971QJE4</cusip>
        <identifiers>
          <isin value="US64971QJE44"/>
          <ticker value="NYCGEN"/>
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        <balance>960000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1028428.8</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>2023-11-01</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</name>
        <lei>549300HEC6MNL5465K30</lei>
        <title>TRAVIS CNTY TEX LTD TAX CTFS OBLIG 2019 B</title>
        <cusip>89453PJ42</cusip>
        <identifiers>
          <isin value="US89453PJ426"/>
          <ticker value="TRA"/>
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        <balance>1145000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1146717.5</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>2020-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TEXAS TRANSN COMMN ST HWY FD</name>
        <lei>5493006JSGNPGVJS7691</lei>
        <title>TEXAS TRANSN COMMN ST HWY FD FIRST TIER REV AND REF BDS 2014-A</title>
        <cusip>88283LJH0</cusip>
        <identifiers>
          <isin value="US88283LJH06"/>
          <ticker value="TXSTRN"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2890925</valUSD>
        <pctVal>0.3193365358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>NORTH CAROLINA ST</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA ST GO REF BDS 2014 A</title>
        <cusip>658256V41</cusip>
        <identifiers>
          <isin value="US658256V410"/>
          <ticker value="NCS"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1093750</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>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>MARYLAND ST GO BDS 2016</title>
        <cusip>574193MU9</cusip>
        <identifiers>
          <isin value="US574193MU92"/>
          <ticker value="MDS"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3485160</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>HENNEPIN CNTY MINN</name>
        <lei>549300YP457DT0GA0119</lei>
        <title>HENNEPIN CNTY MINN GO SALES TAX REV BDS 2019 B</title>
        <cusip>425507HF0</cusip>
        <identifiers>
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          <ticker value="HEN"/>
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        <balance>2080000</balance>
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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>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <name>ECTOR CNTY TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>279263PT8</cusip>
        <identifiers>
          <isin value="US279263PT85"/>
          <ticker value="ECTSCD"/>
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        <balance>615000</balance>
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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>LARIMER CNTY COLO SCH DIST NO R-1 POUDRE</name>
        <lei>N/A</lei>
        <title>LARIMER CNTY COLO SCH DIST NO R-1 POUDRE GO BDS 2018</title>
        <cusip>517138XM0</cusip>
        <identifiers>
          <isin value="US517138XM05"/>
          <ticker value="LARSCD"/>
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        <balance>1150000</balance>
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        <valUSD>1323454.5</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>NEW YORK ST HSG FIN AGY</name>
        <lei>5493000LS7KCDB02O506</lei>
        <title>NEW YORK ST HSG FIN AGY AFFORDABLE BDS 2019 E</title>
        <cusip>64987DXA7</cusip>
        <identifiers>
          <isin value="US64987DXA70"/>
          <ticker value="NYSHSG"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1010720</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>2023-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.125000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST HSG FIN AGY</name>
        <lei>5493000LS7KCDB02O506</lei>
        <title>NEW YORK ST HSG FIN AGY AFFORDABLE BDS 2019 E</title>
        <cusip>64987DWZ3</cusip>
        <identifiers>
          <isin value="US64987DWZ31"/>
          <ticker value="NYSHSG"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2010340</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK ST HSG FIN AGY</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORANGE CNTY FLA HSG FIN AUTH</name>
        <lei>N/A</lei>
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        <cusip>684906HM5</cusip>
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          <isin value="US684906HM52"/>
          <ticker value="ORAMFH"/>
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        <name>CALIFORNIA ST</name>
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          <isin value="US13063DQK71"/>
          <ticker value="CAS"/>
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        <issuerCat>MUN</issuerCat>
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        <name>BEAUFORT CNTY S C SCH DIST</name>
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        <cusip>073900H62</cusip>
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          <isin value="US073900H625"/>
          <ticker value="BEASCD"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>COLUMBUS OHIO</name>
        <lei>N/A</lei>
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          <isin value="US199492ZD43"/>
          <ticker value="COL"/>
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        <balance>1690000</balance>
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        <curCd>USD</curCd>
        <valUSD>1900117.7</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>2023-04-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CLARK CNTY NEV</name>
        <lei>N/A</lei>
        <title>CLARK CNTY NEV LIMITED TAX GO FAMILY SVC BDS 2019</title>
        <cusip>180848H71</cusip>
        <identifiers>
          <isin value="US180848H717"/>
          <ticker value="CLA"/>
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        <balance>2865000</balance>
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        <curCd>USD</curCd>
        <valUSD>3334057.8</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>2024-06-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CHATTANOOGA TENN</name>
        <lei>N/A</lei>
        <title>CHATTANOOGA TENN GO REF BDS 2019 B</title>
        <cusip>162376DT1</cusip>
        <identifiers>
          <isin value="US162376DT16"/>
          <ticker value="CHA"/>
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        <balance>940000</balance>
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        <curCd>USD</curCd>
        <valUSD>1050816.6</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>2023-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MASSACHUSETTS ST CLEAN WTR TR</name>
        <lei>N/A</lei>
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        <cusip>575829FB7</cusip>
        <identifiers>
          <isin value="US575829FB77"/>
          <ticker value="MASWTR"/>
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        <balance>5205000</balance>
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        <curCd>USD</curCd>
        <valUSD>6443269.5</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>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MASSACHUSETTS ST CLEAN WTR TR</name>
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        <cusip>575829FC5</cusip>
        <identifiers>
          <isin value="US575829FC50"/>
          <ticker value="MASWTR"/>
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        <balance>2250000</balance>
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        <curCd>USD</curCd>
        <valUSD>2848432.5</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>OHIO ST</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>OHIO ST COM SCH GO BDS 2019 A</title>
        <cusip>677522H56</cusip>
        <identifiers>
          <isin value="US677522H569"/>
          <ticker value="OHS"/>
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        <balance>2820000</balance>
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        <curCd>USD</curCd>
        <valUSD>3468289.8</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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        <name>MAIN STR NAT GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>MAIN STR NAT GAS INC GA BDS 2019 B</title>
        <cusip>56035DCH3</cusip>
        <identifiers>
          <isin value="US56035DCH35"/>
          <ticker value="MAIUTL"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>LEANDER TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>521841TY2</cusip>
        <identifiers>
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          <ticker value="LDRSCD"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ADAMS &amp; ARAPAHOE CNTYS COLO JT SCH DIST NO 28J AURORA</name>
        <lei>N/A</lei>
        <title>ADAMS &amp; ARAPAHOE CNTYS COLO JT SCH DIST NO 28J AURORA GO REF BDS 2012</title>
        <cusip>0054822N3</cusip>
        <identifiers>
          <isin value="US0054822N38"/>
          <ticker value="ADASCD"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1111370</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>OHIO ST WTR DEV AUTH</name>
        <lei>N/A</lei>
        <title>OHIO ST WTR DEV AUTH DRINKING ASSISTANCE FD REF BDS 2019 B</title>
        <cusip>67765QHX7</cusip>
        <identifiers>
          <isin value="US67765QHX79"/>
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        <balance>1065000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <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>BEAUMONT TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>BEAUMONT TEX INDPT SCH DIST ULTD TAX REF BDS 2016</title>
        <cusip>074527QT2</cusip>
        <identifiers>
          <isin value="US074527QT24"/>
          <ticker value="BEASCD"/>
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        <balance>1150000</balance>
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        <curCd>USD</curCd>
        <valUSD>1284952.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GRAND VALLEY MICH ST UNIV</name>
        <lei>N/A</lei>
        <title>GRAND VALLEY MICH ST UNIV GENERAL BDS 2018</title>
        <cusip>386545MC8</cusip>
        <identifiers>
          <isin value="US386545MC80"/>
          <ticker value="GVYHGR"/>
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        <balance>750000</balance>
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        <curCd>USD</curCd>
        <valUSD>880740</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>PORTLAND ORE</name>
        <lei>N/A</lei>
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        <cusip>736742A72</cusip>
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          <isin value="US736742A724"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DISTRICT COLUMBIA</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <cusip>25477GPW9</cusip>
        <identifiers>
          <isin value="US25477GPW95"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12399000</valUSD>
        <pctVal>1.3696148145</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FOX VY TECHNICAL COLLEGE DIST WIS</name>
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        <cusip>351594NP7</cusip>
        <identifiers>
          <isin value="US351594NP70"/>
          <ticker value="FXVHGR"/>
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        <balance>2500000</balance>
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        <curCd>USD</curCd>
        <valUSD>2608975</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEWISVILLE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>52882PCK2</cusip>
        <identifiers>
          <isin value="US52882PCK21"/>
          <ticker value="LEWSCD"/>
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        <balance>1330000</balance>
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        <curCd>USD</curCd>
        <valUSD>1513446.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARICOPA CNTY ARIZ SCH DIST NO 4 MESA UNI</name>
        <lei>N/A</lei>
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        <cusip>566897VV3</cusip>
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          <isin value="US566897VV38"/>
          <ticker value="MARSCD"/>
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        <balance>2370000</balance>
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        <curCd>USD</curCd>
        <valUSD>2507365.2</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW YORK ST URBAN DEV CORP</name>
        <lei>54930039Y2EMGXN6LM88</lei>
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        <cusip>650035G28</cusip>
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          <isin value="US650035G284"/>
          <ticker value="NYSDEV"/>
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        <balance>2175000</balance>
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        <curCd>USD</curCd>
        <valUSD>2422950</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS ST</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST GRANT ANTIC NTS 2019 A</title>
        <cusip>57583PHF9</cusip>
        <identifiers>
          <isin value="US57583PHF99"/>
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        <balance>5420000</balance>
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        <curCd>USD</curCd>
        <valUSD>6504758.8</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FRANKLIN CNTY WASH SCH DIST NO 1 PASCO</name>
        <lei>N/A</lei>
        <title>FRANKLIN CNTY WASH SCH DIST NO 1 PASCO ULTD TAX GO BDS 2013</title>
        <cusip>353442ZG4</cusip>
        <identifiers>
          <isin value="US353442ZG44"/>
          <ticker value="FRASCD"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1622955</valUSD>
        <pctVal>0.1792743940</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>BOERNE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>BOERNE TEX INDPT SCH DIST UNLTD TAX REF BDS 2019</title>
        <cusip>097067MH2</cusip>
        <identifiers>
          <isin value="US097067MH29"/>
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        <balance>1335000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1620196.05</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WISCONSIN HSG &amp; ECONOMIC DEV AUTH</name>
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        <title>WISCONSIN HSG &amp; ECONOMIC DEV AUTH BDS 2019 A</title>
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          <isin value="US976904U420"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001400</valUSD>
        <pctVal>0.1106163622</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.600000000000</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>
