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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH TEX TWY AUTH</name>
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        <cusip>66285WYJ9</cusip>
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      <invstOrSec>
        <name>NORTH TEX TWY AUTH</name>
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        <cusip>66285WYH3</cusip>
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        <securityLending>
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      <invstOrSec>
        <name>BROOKHAVEN GA DEV AUTH</name>
        <lei>D6JQP3OBUQOR7VE62842</lei>
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        <cusip>113073AC4</cusip>
        <identifiers>
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          <ticker value="BRKDEV"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>COLORADO ST</name>
        <lei>N/A</lei>
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        <cusip>196729CK1</cusip>
        <identifiers>
          <isin value="US196729CK18"/>
          <ticker value="COSGEN"/>
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        <balance>15000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15280500</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>2020-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>COBB CNTY GA</name>
        <lei>N/A</lei>
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        <cusip>190828WP4</cusip>
        <identifiers>
          <isin value="US190828WP46"/>
          <ticker value="COBUTL"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2193400</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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        <name>FAIRFAX CNTY VA INDL DEV AUTH</name>
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        <cusip>303823MX3</cusip>
        <identifiers>
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          <ticker value="FAIDEV"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5258800</valUSD>
        <pctVal>0.1265949531</pctVal>
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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>2057-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MINNESOTA RURAL WTR FIN AUTH</name>
        <lei>N/A</lei>
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        <cusip>60411PAY7</cusip>
        <identifiers>
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          <ticker value="MNSWTR"/>
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        <balance>10000000</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>2020-08-01</maturityDt>
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          <annualizedRt>2.000000000000</annualizedRt>
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        <name>MISSISSIPPI DEV BK</name>
        <lei>549300122LOI8CB50V38</lei>
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        <cusip>60534TGX7</cusip>
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          <isin value="US60534TGX72"/>
          <ticker value="MSSDEV"/>
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        <balance>1855000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <name>BROOKHAVEN GA DEV AUTH RE</name>
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        <cusip>000000000</cusip>
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        <name>NEW MEXICO ST</name>
        <lei>549300H4YLM23QKOGK29</lei>
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        <cusip>647293RW1</cusip>
        <identifiers>
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          <ticker value="NMS"/>
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        <balance>11000000</balance>
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        <name>NEW MEXICO ST</name>
        <lei>549300H4YLM23QKOGK29</lei>
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        <cusip>647293RU5</cusip>
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        <name>CYPRESS-FAIRBANKS TEX INDPT SCH DIST</name>
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        <cusip>2327605A2</cusip>
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        <name>TENDER OPT BD TR RCPTS/CT</name>
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        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
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        <cusip>64971XAB4</cusip>
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          <isin value="US64971XAB47"/>
          <ticker value="NYCGEN"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MATAGORDA CNTY TEX NAV DIST NO 1</name>
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          <isin value="US576528DS98"/>
          <ticker value="MATPOL"/>
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        <name>NEW MEXICO ST</name>
        <lei>549300H4YLM23QKOGK29</lei>
        <title>NEW MEXICO ST CAP PROJ GO BDS 2019</title>
        <cusip>647293RV3</cusip>
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          <isin value="US647293RV32"/>
          <ticker value="NMS"/>
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        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>ILLINOIS FIN AUTH GAS SUPPLY REF REV BDS 2010-B</title>
        <cusip>45202WAE0</cusip>
        <identifiers>
          <isin value="US45202WAE03"/>
          <ticker value="ILSUTL"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5009550</valUSD>
        <pctVal>0.1205947645</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.875000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST VARIOUS PURP GO BDS 2011B</title>
        <cusip>93974CWG1</cusip>
        <identifiers>
          <isin value="US93974CWG13"/>
          <ticker value="WAS"/>
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        <balance>7625000</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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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RIVERSIDE CALIF</name>
        <lei>549300FG48YQF1N4C302</lei>
        <title>RIVERSIDE CALIF REF REV BDS 2011A</title>
        <cusip>769076UH1</cusip>
        <identifiers>
          <isin value="US769076UH14"/>
          <ticker value="RIVWTR"/>
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        <balance>2600000</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>2035-10-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.240000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>MARYLAND ST GO BDS 2017 A</title>
        <cusip>574193PF9</cusip>
        <identifiers>
          <isin value="US574193PF98"/>
          <ticker value="MDS"/>
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        <balance>19445000</balance>
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        <curCd>USD</curCd>
        <valUSD>19887179.3</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>2020-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
        <title>FLORIDA ST BRD ED CAP OUTLAY REF BDS 2017A</title>
        <cusip>34153QJK3</cusip>
        <identifiers>
          <isin value="US34153QJK31"/>
          <ticker value="FLSEDU"/>
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        <balance>5130000</balance>
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        <curCd>USD</curCd>
        <valUSD>5213721.6</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>2020-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>METROPOLITAN TRANSN AUTH N Y TRANSN REV BDS 2018A-1</title>
        <cusip>59261AVE4</cusip>
        <identifiers>
          <isin value="US59261AVE45"/>
          <ticker value="MTATRN"/>
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        <balance>19000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19588620</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>2045-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ILLINOIS EDL FACS AUTH</name>
        <lei>N/A</lei>
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        <cusip>4520013M0</cusip>
        <identifiers>
          <isin value="US4520013M00"/>
          <ticker value="ILSEDU"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5002000</valUSD>
        <pctVal>0.1204130135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.550000000000</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>COLORADO ST</name>
        <lei>N/A</lei>
        <title>COLORADO ST TAX AND REV ANTIC NTS 2019A</title>
        <cusip>19672MCG1</cusip>
        <identifiers>
          <isin value="US19672MCG15"/>
          <ticker value="COSEDU"/>
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        <balance>51500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51975860</valUSD>
        <pctVal>1.2512135013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>GARLAND TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>GARLAND TEX INDPT SCH DIST ULTD TAX REF BDS 2019</title>
        <cusip>366155S26</cusip>
        <identifiers>
          <isin value="US366155S264"/>
          <ticker value="GARSCD"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3130830</valUSD>
        <pctVal>0.0753683877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-15</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>LOS ANGELES CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>LOS ANGELES CALIF CMNTY COLLEGE DIST 2016 ELECTION GO BDS B-1</title>
        <cusip>54438CYE6</cusip>
        <identifiers>
          <isin value="US54438CYE64"/>
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        <balance>35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37225650</valUSD>
        <pctVal>0.8961320866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CINCINNATI OHIO</name>
        <lei>N/A</lei>
        <title>CINCINNATI OHIO GO UNLTD TAX VARIOUS PURP IMPT BDS 2019</title>
        <cusip>172217F89</cusip>
        <identifiers>
          <isin value="US172217F891"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1111680</valUSD>
        <pctVal>0.0267614432</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CINCINNATI OHIO</name>
        <lei>N/A</lei>
        <title>CINCINNATI OHIO GO UNLTD TAX VARIOUS PURP IMPT BDS 2019</title>
        <cusip>172217F71</cusip>
        <identifiers>
          <isin value="US172217F719"/>
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        <balance>2285000</balance>
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        <curCd>USD</curCd>
        <valUSD>2453952.9</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>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>76222RZR6</cusip>
        <identifiers>
          <isin value="US76222RZR64"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1058150</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>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONNECTICUT ST</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>CONNECTICUT ST GO REF BDS 2020 B</title>
        <cusip>20772KJF7</cusip>
        <identifiers>
          <isin value="US20772KJF75"/>
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        <balance>10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10764900</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>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <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>76222RZQ8</cusip>
        <identifiers>
          <isin value="US76222RZQ81"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>305871</valUSD>
        <pctVal>0.0073632245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON SUBN SAN DIST MD</name>
        <lei>N/A</lei>
        <title>WASHINGTON SUBN SAN DIST MD CONSOLIDATED PUB IMPT BDS 2019</title>
        <cusip>9401572B5</cusip>
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          <isin value="US9401572B53"/>
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        <balance>5235000</balance>
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        <curCd>USD</curCd>
        <valUSD>5319754.65</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>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>RHODE ISLAND ST</name>
        <lei>5493001B4TX233UP4J06</lei>
        <title>RHODE ISLAND ST CONSOLIDATED CAP DEV LN GO BDS 2019C</title>
        <cusip>76222RYV8</cusip>
        <identifiers>
          <isin value="US76222RYV85"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2116300</valUSD>
        <pctVal>0.0509456339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-15</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>
        <name>ESCAMBIA CNTY FLA HEALTH FACS AUTH</name>
        <lei>N/A</lei>
        <title>ESCAMBIA CNTY FLA HEALTH FACS AUTH REV BDS 2003 B</title>
        <cusip>296110FA2</cusip>
        <identifiers>
          <isin value="US296110FA20"/>
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        <balance>15845000</balance>
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        <curCd>USD</curCd>
        <valUSD>15845000</valUSD>
        <pctVal>0.3814362654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BROWARD CNTY FLA SCH DIST</name>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORLANDO &amp; ORANGE CNTY EXPWY AUTH FLA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SALT LAKE CNTY UTAH</name>
        <lei>5493006VYRFL1AI6GT29</lei>
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        <cusip>795676VB8</cusip>
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        <balance>3350000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TEXAS ST</name>
        <lei>549300X9CH74QB747L76</lei>
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        <cusip>882724PY7</cusip>
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          <isin value="US882724PY74"/>
          <ticker value="TXS"/>
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        <balance>51445000</balance>
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        <curCd>USD</curCd>
        <valUSD>52405478.15</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>2020-08-27</maturityDt>
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          <annualizedRt>4.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MILWAUKEE WIS</name>
        <lei>N/A</lei>
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        <cusip>602366B88</cusip>
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          <isin value="US602366B887"/>
          <ticker value="MLW"/>
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        <balance>6500000</balance>
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        <curCd>USD</curCd>
        <valUSD>6541015</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>2020-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>CENTRAL PUGET SOUND WASH REGL TRAN AUTH</name>
        <lei>N/A</lei>
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        <cusip>15504RGM5</cusip>
        <identifiers>
          <isin value="US15504RGM51"/>
          <ticker value="CEPTRN"/>
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        <balance>12500000</balance>
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        <curCd>USD</curCd>
        <valUSD>12501750</valUSD>
        <pctVal>0.3009542967</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>2045-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.060000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LEE CNTY FLA SCH DIST</name>
        <lei>N/A</lei>
        <title>LEE CNTY FLA SCH DIST TANS 2019</title>
        <cusip>523509AH0</cusip>
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          <isin value="US523509AH08"/>
          <ticker value="LEESCD"/>
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        <balance>12000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12058920</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
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        <cusip>20775DBW1</cusip>
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          <isin value="US20775DBW11"/>
          <ticker value="CTSHGR"/>
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        <balance>21000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21117390</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>2042-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.450000000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK N Y CITY MUN WTR FIN AUTH</name>
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        <cusip>64972GRM8</cusip>
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          <ticker value="NYCUTL"/>
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        <balance>6000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6341940</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-06-15</maturityDt>
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      <invstOrSec>
        <name>FLORIDA DEV FIN CORP</name>
        <lei>549300HC854CNBLMWC48</lei>
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        <cusip>34061YAE0</cusip>
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          <isin value="US34061YAE05"/>
          <ticker value="FLSDEV"/>
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        <balance>40000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>NORTH CAROLINA ST</name>
        <lei>N/A</lei>
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          <isin value="US65829QDC50"/>
          <ticker value="NCSGEN"/>
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        <balance>13025000</balance>
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        <name>MASSACHUSETTS ST</name>
        <lei>N/A</lei>
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          <ticker value="MAS"/>
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        <name>MASSACHUSETTS ST</name>
        <lei>N/A</lei>
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        <cusip>57582RZT6</cusip>
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          <isin value="US57582RZT66"/>
          <ticker value="MAS"/>
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        <balance>20000000</balance>
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        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>MARYLAND ST GO BDS 2015</title>
        <cusip>574193LY2</cusip>
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          <isin value="US574193LY24"/>
          <ticker value="MDS"/>
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        <balance>20000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUMBLE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>HUMBLE TEX INDPT SCH DIST ULTD TAX BDS 2016</title>
        <cusip>445047EM1</cusip>
        <identifiers>
          <isin value="US445047EM10"/>
          <ticker value="HUMSCD"/>
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        <balance>4060000</balance>
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        <curCd>USD</curCd>
        <valUSD>4393732</valUSD>
        <pctVal>0.1057701941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH TEX TWY AUTH</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>NORTH TEX TWY AUTH SYS FIRST TIER REF BDS 2019 A</title>
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          <ticker value="NRTTRN"/>
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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>2020-01-01</maturityDt>
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      <invstOrSec>
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        <cusip>454898XD4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
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        <name>PENNSYLVANIA ST</name>
        <lei>N/A</lei>
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        <name>NORTH CAROLINA EASTN MUN PWR AGY</name>
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        <cusip>658196QY9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>HOUSTON TEX</name>
        <lei>549300C64URYS0WQQY42</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>WAKE CNTY N C</name>
        <lei>N/A</lei>
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          <isin value="US930876DZ70"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SPRING BRANCH TEX INDPT SCH DIST</name>
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        <cusip>849476SW7</cusip>
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        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
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        <cusip>20774Y4Y0</cusip>
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          <ticker value="CTSMED"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO HSG FIN AGY</name>
        <lei>549300K10X7VPG6JVX38</lei>
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          <ticker value="OHSMFH"/>
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        <fairValLevel>2</fairValLevel>
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        <name>SALT LAKE CNTY UTAH</name>
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        <name>NEW YORK ST DORM AUTH</name>
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          <ticker value="NYSHGR"/>
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        <name>RHODE ISLAND ST</name>
        <lei>5493001B4TX233UP4J06</lei>
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        <name>INDIANAPOLIS IND LOC PUB IMPT BD BK</name>
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        <name>NORTH CAROLINA ST</name>
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        <name>WAKE CNTY N C</name>
        <lei>N/A</lei>
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        <name>MASSACHUSETTS ST HSG FIN AGY</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OHIO ST</name>
        <lei>N/A</lei>
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        <cusip>677581GZ7</cusip>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH</name>
        <lei>N/A</lei>
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        <cusip>64990FNT7</cusip>
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          <isin value="US64990FNT74"/>
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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>2022-02-15</maturityDt>
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      <invstOrSec>
        <name>OHIO ST</name>
        <lei>N/A</lei>
        <title>OHIO ST BDS 2019-1</title>
        <cusip>677581HA1</cusip>
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          <isin value="US677581HA11"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2226300</valUSD>
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        <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>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MISSION TEX ECONOMIC DEV CORP</name>
        <lei>N/A</lei>
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        <cusip>605155AH3</cusip>
        <identifiers>
          <isin value="US605155AH34"/>
          <ticker value="MISPOL"/>
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        <balance>48000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48000000</valUSD>
        <pctVal>1.1555027288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.300000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK ST DORM AUTH GEN PURP BDS 2019 D</title>
        <cusip>64990FNS9</cusip>
        <identifiers>
          <isin value="US64990FNS91"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5110150</valUSD>
        <pctVal>0.1230165056</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BEXAR CNTY TEX</name>
        <lei>N/A</lei>
        <title>BEXAR CNTY TEX LTD TAX REF BDS 2019</title>
        <cusip>088281G87</cusip>
        <identifiers>
          <isin value="US088281G872"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>875376</valUSD>
        <pctVal>0.0210729033</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>2022-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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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>OREGON HEALTH SCIENCES UNIV</name>
        <lei>549300XTWOAGON8L2G98</lei>
        <title>OREGON HEALTH SCIENCES UNIV BDS 2019 A</title>
        <cusip>685869FZ7</cusip>
        <identifiers>
          <isin value="US685869FZ77"/>
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        <balance>850000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>931532</valUSD>
        <pctVal>0.0224247452</pctVal>
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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>
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      <invstOrSec>
        <name>GEORGIA ST</name>
        <lei>N/A</lei>
        <title>GEORGIA ST GO BDS 2019 A</title>
        <cusip>373385DU4</cusip>
        <identifiers>
          <isin value="US373385DU49"/>
          <ticker value="GAS"/>
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        <balance>20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20390600</valUSD>
        <pctVal>0.4908623738</pctVal>
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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>BAY AREA TOLL AUTH CALIF</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA TOLL AUTH CALIF REV BDS</title>
        <cusip>072024UM2</cusip>
        <identifiers>
          <isin value="US072024UM27"/>
          <ticker value="BAYTRN"/>
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        <balance>18000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18025020</valUSD>
        <pctVal>0.4339158291</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>Floating</couponKind>
          <annualizedRt>2.019000000000</annualizedRt>
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      <invstOrSec>
        <name>E 470 PUB HWY AUTH COLO</name>
        <lei>549300164ZV2301BC703</lei>
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        <identifiers>
          <isin value="US26822LMG67"/>
          <ticker value="EHYTRN"/>
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        <balance>6000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6050220</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MULTNOMAH CNTY ORE SCH DIST NO 1 PORTLAND</name>
        <lei>N/A</lei>
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        <cusip>625517JP3</cusip>
        <identifiers>
          <isin value="US625517JP36"/>
          <ticker value="MULSCD"/>
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        <balance>45000000</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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        <securityLending>
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      <invstOrSec>
        <name>NORTH CAROLINA ST</name>
        <lei>N/A</lei>
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          <isin value="US658268DM60"/>
          <ticker value="NCSGEN"/>
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        <curCd>USD</curCd>
        <valUSD>6037080</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>MONMOUTH CNTY N J IMPT AUTH</name>
        <lei>N/A</lei>
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        <name>MONMOUTH CNTY N J IMPT AUTH</name>
        <lei>N/A</lei>
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        <cusip>60956PVK5</cusip>
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          <isin value="US60956PVK55"/>
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        <balance>2775000</balance>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>BEXAR CNTY TEX</name>
        <lei>N/A</lei>
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        <cusip>088281G79</cusip>
        <identifiers>
          <isin value="US088281G799"/>
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        <balance>710000</balance>
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        <valUSD>749823.9</valUSD>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>HAMPTON RDS VA TRANSN ACCOUNTABILITY COMMN</name>
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        <cusip>40934TAU7</cusip>
        <identifiers>
          <isin value="US40934TAU79"/>
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        <balance>41800000</balance>
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        <curCd>USD</curCd>
        <valUSD>45733380</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONMOUTH CNTY N J</name>
        <lei>N/A</lei>
        <title>MONMOUTH CNTY N J GEN IMPT BDS 2019</title>
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          <isin value="US609561JB23"/>
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        <balance>3075000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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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>
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      <invstOrSec>
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        <name>LOUDOUN CNTY VA</name>
        <lei>N/A</lei>
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        <name>UNIVERSITY DEL</name>
        <lei>KPIOJCFMR70NWLS6O145</lei>
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      <invstOrSec>
        <name>UNIVERSITY DEL</name>
        <lei>KPIOJCFMR70NWLS6O145</lei>
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        <cusip>914245BU8</cusip>
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          <isin value="US914245BU83"/>
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        <name>NEW YORK N Y</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>FLORIDA HSG FIN CORP</name>
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          <ticker value="FLSHSG"/>
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        <fairValLevel>2</fairValLevel>
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        <name>DISTRICT COLUMBIA HSG FIN AGY</name>
        <lei>N/A</lei>
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        <cusip>25477PPC3</cusip>
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          <ticker value="DISMFH"/>
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        <balance>1500000</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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        <name>CONNECTICUT ST</name>
        <lei>5493007GRO6CU0IKP741</lei>
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        <cusip>20772KGV5</cusip>
        <identifiers>
          <isin value="US20772KGV52"/>
          <ticker value="CTS"/>
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        <balance>11200000</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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        <name>BEXAR CNTY TEX HOSP DIST</name>
        <lei>N/A</lei>
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          <ticker value="BEXMED"/>
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        <name>MINNESOTA ST</name>
        <lei>N/A</lei>
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        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
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          <ticker value="CTSMED"/>
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        <name>NEBRASKA INVT FIN AUTH</name>
        <lei>549300OIIXIM3SRZWK33</lei>
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          <ticker value="NESSFH"/>
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        <name>MICHIGAN FIN AUTH</name>
        <lei>54930022O46HOX5J1D14</lei>
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        <name>KATY TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>486063YS3</cusip>
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          <ticker value="KATSCD"/>
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        <balance>6000000</balance>
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        <name>ALVIN TEX INDPT SCH DIST</name>
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          <ticker value="AVNSCD"/>
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        <name>MICHIGAN FIN AUTH</name>
        <lei>54930022O46HOX5J1D14</lei>
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        <cusip>59447TWM1</cusip>
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        <assetCat>DBT</assetCat>
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        <lei>N/A</lei>
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        <name>PENNSYLVANIA ST HIGHER EDL FACS AUTH</name>
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        <cusip>70917SZ63</cusip>
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          <ticker value="PASHGR"/>
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        <name>VIRGINIA ST</name>
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          <isin value="US9281093A35"/>
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        <name>CLEAR CREEK TEX INDPT SCH DIST</name>
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        <issuerCat>MUN</issuerCat>
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        <name>MARICOPA CNTY ARIZ INDL DEV AUTH</name>
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        <cusip>56682HCS6</cusip>
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          <ticker value="MARDEV"/>
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        <name>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <cusip>45471AEM0</cusip>
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          <isin value="US45471AEM09"/>
          <ticker value="INSFIN"/>
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        <name>ILLINOIS ST TOLL HWY AUTH</name>
        <lei>549300ISBFGI8MJJKM98</lei>
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        <name>INDIANA ST FIN AUTH</name>
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        <name>VIRGINIA ST</name>
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        <name>MET GOVT NASHVILLE &amp; DAVIDSON CNTY TENN H &amp; E FACS BRD</name>
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        <name>MONMOUTH CNTY N J IMPT AUTH</name>
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        <name>MOBILE ALA INDL DEV BRD</name>
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        <name>GOOSE CREEK TEX CONS INDPT SCH DIST</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HENNEPIN CNTY MINN</name>
        <lei>549300YP457DT0GA0119</lei>
        <title>HENNEPIN CNTY MINN GO SALES TAX REV BDS 2019 B</title>
        <cusip>425507GZ7</cusip>
        <identifiers>
          <isin value="US425507GZ75"/>
          <ticker value="HEN"/>
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        <balance>6050000</balance>
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        <curCd>USD</curCd>
        <valUSD>6275302</valUSD>
        <pctVal>0.1510651789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-15</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>
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      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA COLLEGE BLDG AUTH VA</name>
        <lei>N/A</lei>
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        <cusip>9277817Y4</cusip>
        <identifiers>
          <isin value="US9277817Y48"/>
          <ticker value="VACHGR"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5015250</valUSD>
        <pctVal>0.1207319804</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>
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      </invstOrSec>
      <invstOrSec>
        <name>PENNSYLVANIA ST TPK COMMN</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>PENNSYLVANIA ST TPK COMMN VAR BDS 2018 A-1</title>
        <cusip>709224G86</cusip>
        <identifiers>
          <isin value="US709224G863"/>
          <ticker value="PASTRN"/>
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        <balance>15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15074250</valUSD>
        <pctVal>0.3628820210</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>Floating</couponKind>
          <annualizedRt>2.210000000000</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>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>16085000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16399140.05</valUSD>
        <pctVal>0.3947760641</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS ST TOLL HWY AUTH</name>
        <lei>549300ISBFGI8MJJKM98</lei>
        <title>ILLINOIS ST TOLL HWY AUTH REF BDS 2018 A</title>
        <cusip>452252MW6</cusip>
        <identifiers>
          <isin value="US452252MW63"/>
          <ticker value="ILSTRN"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1037960</valUSD>
        <pctVal>0.0249867836</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
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        <cusip>34153PYY8</cusip>
        <identifiers>
          <isin value="US34153PYY86"/>
          <ticker value="FLSEDU"/>
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        <balance>525000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>533568</valUSD>
        <pctVal>0.0128445683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>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>OREGON ST HSG &amp; CMNTY SVCS DEPT</name>
        <lei>N/A</lei>
        <title>OREGON ST HSG &amp; CMNTY SVCS DEPT BDS 2018 I</title>
        <cusip>68608ABB5</cusip>
        <identifiers>
          <isin value="US68608ABB52"/>
          <ticker value="OREHSG"/>
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        <balance>10450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10560770</valUSD>
        <pctVal>0.2542291365</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>Variable</couponKind>
          <annualizedRt>2.200000000000</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>PRIVATE COLLEGES &amp; UNIVS AUTH GA</name>
        <lei>N/A</lei>
        <title>PRIVATE COLLEGES &amp; UNIVS AUTH GA BDS 2019 A</title>
        <cusip>74265LQ50</cusip>
        <identifiers>
          <isin value="US74265LQ508"/>
          <ticker value="PRIHGR"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3309150</valUSD>
        <pctVal>0.0796610803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HENNEPIN CNTY MINN</name>
        <lei>549300YP457DT0GA0119</lei>
        <title>HENNEPIN CNTY MINN GO SALES TAX REV BDS 2019 B</title>
        <cusip>425507HA1</cusip>
        <identifiers>
          <isin value="US425507HA16"/>
          <ticker value="HEN"/>
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        <balance>6350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6832854</valUSD>
        <pctVal>0.1644871134</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNIVERSITY PITTSBURGH PA</name>
        <lei>5493002C83QSGL8ETT42</lei>
        <title>UNIVERSITY PITTSBURGH PA PANTHERS 2019</title>
        <cusip>91335VKV7</cusip>
        <identifiers>
          <isin value="US91335VKV70"/>
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        <balance>38000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38075240</valUSD>
        <pctVal>0.9165842442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Floating</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>MINNESOTA ST</name>
        <lei>N/A</lei>
        <title>MINNESOTA ST REV REF BDS 2016</title>
        <cusip>60412LCY3</cusip>
        <identifiers>
          <isin value="US60412LCY39"/>
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        <balance>8965000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9109426.15</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>2020-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>METROPOLITAN TRANSN AUTH N Y BDS 2016</title>
        <cusip>59261AHV2</cusip>
        <identifiers>
          <isin value="US59261AHV26"/>
          <ticker value="MTATRN"/>
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        <balance>30310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30436392.7</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ST PAUL MINN HSG &amp; REDEV AUTH</name>
        <lei>549300FQCUW4VH929113</lei>
        <title>ST PAUL MINN HSG &amp; REDEV AUTH BDS 2018 A</title>
        <cusip>792892JN2</cusip>
        <identifiers>
          <isin value="US792892JN23"/>
          <ticker value="STPMFH"/>
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        <balance>1140000</balance>
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        <curCd>USD</curCd>
        <valUSD>1141333.8</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.200000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH</name>
        <lei>N/A</lei>
        <title>NEW YORK ST DORM AUTH GEN PURP BDS 2018A</title>
        <cusip>64990FMH4</cusip>
        <identifiers>
          <isin value="US64990FMH46"/>
          <ticker value="NYSHGR"/>
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        <balance>12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12095160</valUSD>
        <pctVal>0.2911664664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MINNESOTA ST</name>
        <lei>N/A</lei>
        <title>MINNESOTA ST GO VAR PURP BDS 2019 A</title>
        <cusip>60412AQM8</cusip>
        <identifiers>
          <isin value="US60412AQM89"/>
          <ticker value="MNS"/>
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        <balance>14500000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>DENTON CNTY TEX</name>
        <lei>N/A</lei>
        <title>DENTON CNTY TEX PERM IMPT REF BDS 2014</title>
        <cusip>248775W79</cusip>
        <identifiers>
          <isin value="US248775W794"/>
          <ticker value="DNN"/>
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        <balance>1635000</balance>
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        <curCd>USD</curCd>
        <valUSD>1730402.25</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>2021-07-15</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>FLORIDA ST</name>
        <lei>N/A</lei>
        <title>FLORIDA ST RIGHT WAY ACQUISITIN BRIDGE CONSTR REF BDS 2019 A</title>
        <cusip>3411505Q9</cusip>
        <identifiers>
          <isin value="US3411505Q95"/>
          <ticker value="FLS"/>
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        <balance>13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13757380</valUSD>
        <pctVal>0.3311810444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HENRY CNTY GA SCH DIST</name>
        <lei>N/A</lei>
        <title>HENRY CNTY GA SCH DIST GO BDS 2018</title>
        <cusip>426362MM8</cusip>
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          <isin value="US426362MM82"/>
          <ticker value="HENSCD"/>
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        <balance>3580000</balance>
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        <curCd>USD</curCd>
        <valUSD>3799489.8</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>2021-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH CAROLINA ST</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA ST GO REF BDS 2013 C</title>
        <cusip>658256R20</cusip>
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          <isin value="US658256R202"/>
          <ticker value="NCS"/>
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        <balance>8000000</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>2020-05-01</maturityDt>
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          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>DELAWARE ST</name>
        <lei>N/A</lei>
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        <cusip>246381MX2</cusip>
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          <isin value="US246381MX21"/>
          <ticker value="DES"/>
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        <balance>12900000</balance>
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        <curCd>USD</curCd>
        <valUSD>12939603</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DELAWARE ST</name>
        <lei>N/A</lei>
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        <cusip>246381MY0</cusip>
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          <isin value="US246381MY04"/>
          <ticker value="DES"/>
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        <balance>10000000</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>2021-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>PRIVATE COLLEGES &amp; UNIVS AUTH GA</name>
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        <cusip>74265LQ35</cusip>
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          <isin value="US74265LQ359"/>
          <ticker value="PRIHGR"/>
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        <balance>7300000</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>2020-09-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JORDAN UTAH SCH DIST</name>
        <lei>549300UFOPD4ZK3DCM04</lei>
        <title>JORDAN UTAH SCH DIST GO BLDG BDS 2019 B</title>
        <cusip>480772RW4</cusip>
        <identifiers>
          <isin value="US480772RW45"/>
          <ticker value="JORSCD"/>
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        <balance>5870000</balance>
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        <curCd>USD</curCd>
        <valUSD>5974309.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-15</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOUSTON TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>442403KP5</cusip>
        <identifiers>
          <isin value="US442403KP55"/>
          <ticker value="HOUSCD"/>
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        <balance>1350000</balance>
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        <curCd>USD</curCd>
        <valUSD>1408873.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
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        <cusip>34153QRV0</cusip>
        <identifiers>
          <isin value="US34153QRV04"/>
          <ticker value="FLSEDU"/>
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        <balance>4385000</balance>
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        <curCd>USD</curCd>
        <valUSD>4796093.75</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>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
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        <cusip>34153QRU2</cusip>
        <identifiers>
          <isin value="US34153QRU21"/>
          <ticker value="FLSEDU"/>
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        <balance>4505000</balance>
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        <curCd>USD</curCd>
        <valUSD>4756198.8</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>2021-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
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        <cusip>34153QRT5</cusip>
        <identifiers>
          <isin value="US34153QRT57"/>
          <ticker value="FLSEDU"/>
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        <balance>1690000</balance>
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        <curCd>USD</curCd>
        <valUSD>1717580.8</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISVILLE &amp; JEFFERSON CNTY METRO GOVT KY</name>
        <lei>5493007ZG5EVEXW01J70</lei>
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        <cusip>546751AL2</cusip>
        <identifiers>
          <isin value="US546751AL24"/>
          <ticker value="LOUENV"/>
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        <balance>13250000</balance>
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        <curCd>USD</curCd>
        <valUSD>13301675</valUSD>
        <pctVal>0.3202108700</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>2033-06-01</maturityDt>
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        <name>METROPOLITAN TRANSN AUTH N Y</name>
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        <cusip>59261AVF1</cusip>
        <identifiers>
          <isin value="US59261AVF10"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1101340</valUSD>
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        <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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        <securityLending>
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        <name>UNIVERSITY ALA</name>
        <lei>CKA5FU7V6HJ1ZF36V297</lei>
        <title>UNIVERSITY ALA BDS 2019 A</title>
        <cusip>914026UA5</cusip>
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          <isin value="US914026UA55"/>
          <ticker value="UALHGR"/>
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        <balance>5760000</balance>
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        <curCd>USD</curCd>
        <valUSD>6300518.4</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>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>NORTH CAROLINA HSG FIN AGY</name>
        <lei>EC4EE0PS5OP5O69B5C39</lei>
        <title>NORTH CAROLINA HSG FIN AGY BDS 2019</title>
        <cusip>65821BAF2</cusip>
        <identifiers>
          <isin value="US65821BAF22"/>
          <ticker value="NCSMFH"/>
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        <balance>11235000</balance>
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        <curCd>USD</curCd>
        <valUSD>11296904.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ARLINGTON CNTY VA</name>
        <lei>N/A</lei>
        <title>ARLINGTON CNTY VA GO PUB IMPT BDS 2019</title>
        <cusip>041431TE7</cusip>
        <identifiers>
          <isin value="US041431TE71"/>
          <ticker value="ARL"/>
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        <balance>4595000</balance>
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        <curCd>USD</curCd>
        <valUSD>5035017.2</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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        <securityLending>
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        <name>MIAMI-DADE CNTY FLA</name>
        <lei>N/A</lei>
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        <cusip>59333FNC0</cusip>
        <identifiers>
          <isin value="US59333FNC04"/>
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        <balance>7100000</balance>
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        <curCd>USD</curCd>
        <valUSD>7279417</valUSD>
        <pctVal>0.1752372127</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
        <title>FLORIDA ST BRD ED CAP OUTLAY REF BDS 2015 A</title>
        <cusip>34153P6T0</cusip>
        <identifiers>
          <isin value="US34153P6T07"/>
          <ticker value="FLSEDU"/>
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        <balance>1480000</balance>
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        <curCd>USD</curCd>
        <valUSD>1618750</valUSD>
        <pctVal>0.0389681259</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRINCE GEORGES CNTY MD</name>
        <lei>549300NSQ1W50I0VU811</lei>
        <title>PRINCE GEORGES CNTY MD GO CONS PUB IMPT BDS 2016 A</title>
        <cusip>741701Z33</cusip>
        <identifiers>
          <isin value="US741701Z332"/>
          <ticker value="PRI"/>
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        <balance>2875000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2931148.75</valUSD>
        <pctVal>0.0705614662</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>ARLINGTON CNTY VA</name>
        <lei>N/A</lei>
        <title>ARLINGTON CNTY VA GO PUB IMPT BDS 2019</title>
        <cusip>041431TD9</cusip>
        <identifiers>
          <isin value="US041431TD98"/>
          <ticker value="ARL"/>
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        <balance>4370000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4619701.8</valUSD>
        <pctVal>0.1112099591</pctVal>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST DEPT WTR RES</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST DEPT WTR RES WTR SYS REV BDS AU</title>
        <cusip>13067WCF7</cusip>
        <identifiers>
          <isin value="US13067WCF77"/>
          <ticker value="CASWTR"/>
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        <balance>30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30018300</valUSD>
        <pctVal>0.7226297409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.830000000000</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>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 2017</title>
        <cusip>833153VJ5</cusip>
        <identifiers>
          <isin value="US833153VJ52"/>
          <ticker value="SNOSCD"/>
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        <balance>2630000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2723207.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-01</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>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST MOTOR VEHICLE FUEL TAX GO REF BDS R-2020B</title>
        <cusip>93974ECN4</cusip>
        <identifiers>
          <isin value="US93974ECN40"/>
          <ticker value="WAS"/>
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        <balance>2750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2962135</valUSD>
        <pctVal>0.0713073974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST MOTOR VEHICLE FUEL TAX GO REF BDS R-2020B</title>
        <cusip>93974ECL8</cusip>
        <identifiers>
          <isin value="US93974ECL83"/>
          <ticker value="WAS"/>
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        <balance>7650000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7947355.5</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>2021-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>WASHINGTON ST VAR PURP GO REF BDS R-2020A</title>
        <cusip>93974ECE4</cusip>
        <identifiers>
          <isin value="US93974ECE41"/>
          <ticker value="WAS"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3769990</valUSD>
        <pctVal>0.0907548694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>WISCONSIN ST GO BDS 2018 B</title>
        <cusip>97705MLU7</cusip>
        <identifiers>
          <isin value="US97705MLU70"/>
          <ticker value="WIS"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6312420</valUSD>
        <pctVal>0.1519587195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-01</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>PENNSYLVANIA ECONOMIC DEV FING AUTH</name>
        <lei>N/A</lei>
        <title>PENNSYLVANIA ECONOMIC DEV FING AUTH REF BDS 2010 B</title>
        <cusip>708692BE7</cusip>
        <identifiers>
          <isin value="US708692BE79"/>
          <ticker value="PASDEV"/>
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        <balance>15085000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15085000</valUSD>
        <pctVal>0.3631408055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.180000000000</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 ST URBAN DEV CORP</name>
        <lei>54930039Y2EMGXN6LM88</lei>
        <title>NEW YORK ST URBAN DEV CORP ST PERSONAL INCOME TAX REV BDS 2016 A</title>
        <cusip>650035V62</cusip>
        <identifiers>
          <isin value="US650035V622"/>
          <ticker value="NYSDEV"/>
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        <balance>45175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45533237.75</valUSD>
        <pctVal>1.0961204265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-15</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>OREGON ST DEPT TRANSN</name>
        <lei>N/A</lei>
        <title>OREGON ST DEPT TRANSN REV REF BDS 2017 C</title>
        <cusip>68607DTH8</cusip>
        <identifiers>
          <isin value="US68607DTH88"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1033890</valUSD>
        <pctVal>0.0248888066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-11-15</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>SEATTLE WASH</name>
        <lei>N/A</lei>
        <title>SEATTLE WASH IMPT BDS 2019 A</title>
        <cusip>812643ST2</cusip>
        <identifiers>
          <isin value="US812643ST24"/>
          <ticker value="SEAPWR"/>
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        <balance>3250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3407820</valUSD>
        <pctVal>0.0820363606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-04-01</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>HARRIS CNTY TEX</name>
        <lei>549300G9BRP25M0W1S40</lei>
        <title>HARRIS CNTY TEX ULTD TAX RD REF BDS 2019 A</title>
        <cusip>414005A24</cusip>
        <identifiers>
          <isin value="US414005A246"/>
          <ticker value="HAR"/>
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        <balance>4325000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4418333.5</valUSD>
        <pctVal>0.1063624253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-01</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>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
        <title>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH BDS X-2</title>
        <cusip>20774Y3F2</cusip>
        <identifiers>
          <isin value="US20774Y3F23"/>
          <ticker value="CTSMED"/>
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        <balance>12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12086280</valUSD>
        <pctVal>0.2909526984</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>1.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MAIN STR NAT GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>MAIN STR NAT GAS INC GA BDS 2018 B</title>
        <cusip>56035DAL6</cusip>
        <identifiers>
          <isin value="US56035DAL64"/>
          <ticker value="MAIUTL"/>
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        <balance>65000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65148200</valUSD>
        <pctVal>1.5683108933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.883000000000</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 BDS 2010A -3</title>
        <cusip>20774Y3E5</cusip>
        <identifiers>
          <isin value="US20774Y3E57"/>
          <ticker value="CTSMED"/>
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        <balance>12500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12589875</valUSD>
        <pctVal>0.3030757275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA ST FIN AUTH REV REF BDS 2017 A</title>
        <cusip>45470RDB9</cusip>
        <identifiers>
          <isin value="US45470RDB96"/>
          <ticker value="INSTRN"/>
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        <balance>1600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1619232</valUSD>
        <pctVal>0.0389797291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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      </invstOrSec>
      <invstOrSec>
        <name>SEATTLE WASH</name>
        <lei>N/A</lei>
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        <cusip>812643TZ7</cusip>
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          <isin value="US812643TZ74"/>
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        <balance>11400000</balance>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HOUSTON TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>442404EC9</cusip>
        <identifiers>
          <isin value="US442404EC99"/>
          <ticker value="HOUEDU"/>
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        <balance>1500000</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>2022-09-15</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE &amp; ECONOMIC DEV BK</name>
        <lei>549300C1OG9RDIM8ET06</lei>
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        <cusip>13034AZG8</cusip>
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          <isin value="US13034AZG83"/>
          <ticker value="CASDEV"/>
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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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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>N/A</lei>
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        <cusip>93974D7B8</cusip>
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          <isin value="US93974D7B82"/>
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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>2021-06-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>N/A</lei>
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        <cusip>93974D7A0</cusip>
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          <isin value="US93974D7A00"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HONOLULU HAWAII CITY &amp; CNTY</name>
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        <cusip>438687DQ5</cusip>
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          <isin value="US438687DQ58"/>
          <ticker value="HON"/>
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        <balance>8110000</balance>
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        <curCd>USD</curCd>
        <valUSD>8110486.6</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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          <maturityDt>2023-09-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RICHMOND VA</name>
        <lei>N/A</lei>
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        <cusip>76541VUZ8</cusip>
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          <isin value="US76541VUZ83"/>
          <ticker value="RIC"/>
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        <balance>7370000</balance>
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        <curCd>USD</curCd>
        <valUSD>7524770</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>2020-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FRANKLIN CNTY OHIO</name>
        <lei>549300VCBUC1RZE7KL42</lei>
        <title>FRANKLIN CNTY OHIO FACS BDS 2018 B</title>
        <cusip>353187EE3</cusip>
        <identifiers>
          <isin value="US353187EE32"/>
          <ticker value="FRAMED"/>
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        <balance>10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10018400</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.040000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEATTLE WASH</name>
        <lei>N/A</lei>
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        <cusip>812643SU9</cusip>
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          <isin value="US812643SU96"/>
          <ticker value="SEAPWR"/>
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        <balance>3420000</balance>
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        <curCd>USD</curCd>
        <valUSD>3715488</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MARYLAND ST DEPT TRANSN</name>
        <lei>N/A</lei>
        <title>MARYLAND ST DEPT TRANSN BDS 2019</title>
        <cusip>574204M67</cusip>
        <identifiers>
          <isin value="US574204M675"/>
          <ticker value="MDSTRN"/>
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        <balance>5500000</balance>
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        <curCd>USD</curCd>
        <valUSD>6081130</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>WASHINGTON ST</name>
        <lei>N/A</lei>
        <title>WASHINGTON ST VARIOUS PURP GO BDS 2019 C</title>
        <cusip>93974D5Z7</cusip>
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          <isin value="US93974D5Z78"/>
          <ticker value="WAS"/>
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        <balance>10935000</balance>
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        <valUSD>10968242.4</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-02-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CANADIAN CNTY OKLA INDPT SCH DIST NO 027 YUKON</name>
        <lei>N/A</lei>
        <title>CANADIAN CNTY OKLA INDPT SCH DIST NO 027 YUKON COMBINED PURP BDS 2017</title>
        <cusip>135537GE2</cusip>
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          <isin value="US135537GE20"/>
          <ticker value="CANSCD"/>
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        <balance>3040000</balance>
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        <curCd>USD</curCd>
        <valUSD>3057723.2</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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          <maturityDt>2020-10-01</maturityDt>
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          <annualizedRt>2.000000000000</annualizedRt>
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        <name>CITIZENS PPTY INS CORP FLA</name>
        <lei>254900K60HH43SRST947</lei>
        <title>CITIZENS PPTY INS CORP FLA SENIOR SECURED BDS 2012</title>
        <cusip>176553GP4</cusip>
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          <isin value="US176553GP46"/>
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        <balance>10685000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VOLUSIA CNTY FLA SCH BRD</name>
        <lei>N/A</lei>
        <title>VOLUSIA CNTY FLA SCH BRD COPS 2019</title>
        <cusip>92884EJN8</cusip>
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          <isin value="US92884EJN85"/>
          <ticker value="VOLEDU"/>
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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>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>549300ZOQJ5U8YBS5Q35</lei>
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        <cusip>20774Y7K7</cusip>
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          <isin value="US20774Y7K71"/>
          <ticker value="CTSMED"/>
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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>WACO TEX</name>
        <lei>N/A</lei>
        <title>WACO TEX GO REF BDS 2013</title>
        <cusip>929831EC5</cusip>
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          <isin value="US929831EC56"/>
          <ticker value="WAC"/>
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        <curCd>USD</curCd>
        <valUSD>2156700</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>
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          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ATLANTA GA URBAN RESIDENTIAL FIN AUTH</name>
        <lei>N/A</lei>
        <title>ATLANTA GA URBAN RESIDENTIAL FIN AUTH BDS 2019</title>
        <cusip>04785VAZ7</cusip>
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          <isin value="US04785VAZ76"/>
          <ticker value="ATLMFH"/>
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        <balance>7500000</balance>
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        <curCd>USD</curCd>
        <valUSD>7550025</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OHIO ST</name>
        <lei>5493005LGDPOFHUC6Z36</lei>
        <title>OHIO ST VAR BDS 2019 C</title>
        <cusip>67756CDN5</cusip>
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          <isin value="US67756CDN56"/>
          <ticker value="OHSMED"/>
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        <balance>35000000</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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      <invstOrSec>
        <name>INDIANA BD BK</name>
        <lei>549300TZMGETS4ELEI93</lei>
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        <balance>6000000</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>
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      <invstOrSec>
        <name>TEXAS TRANSN COMMN ST HWY FD</name>
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        <cusip>88283LHY5</cusip>
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          <isin value="US88283LHY56"/>
          <ticker value="TXSTRN"/>
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        <balance>7025000</balance>
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        <curCd>USD</curCd>
        <valUSD>7092229.25</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>2020-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>NEW JERSEY ST HSG &amp; MTG FIN AGY</name>
        <lei>5493002ONULJL0FIGU24</lei>
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        <cusip>646127EK2</cusip>
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          <isin value="US646127EK26"/>
          <ticker value="NJSHSG"/>
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        <balance>4500000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-10-01</maturityDt>
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          <annualizedRt>2.450000000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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          <isin value="US13063CHH60"/>
          <ticker value="CAS"/>
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        <balance>30000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30101700</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>2029-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.040000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>METROPOLITAN TRANSN AUTH N Y REF BDS</title>
        <cusip>59261AKM8</cusip>
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          <isin value="US59261AKM89"/>
          <ticker value="MTATRN"/>
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        <balance>5500000</balance>
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        <curCd>USD</curCd>
        <valUSD>5503575</valUSD>
        <pctVal>0.1324874152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.748000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDIANA CNTY PA INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>INDIANA CNTY PA INDL DEV AUTH BANS 2017 C</title>
        <cusip>454698AC5</cusip>
        <identifiers>
          <isin value="US454698AC51"/>
          <ticker value="INNHGR"/>
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        <balance>2750000</balance>
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        <curCd>USD</curCd>
        <valUSD>2747772.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.450000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WACO TEX</name>
        <lei>N/A</lei>
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        <cusip>929831GQ2</cusip>
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          <isin value="US929831GQ25"/>
          <ticker value="WAC"/>
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        <balance>5505000</balance>
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        <curCd>USD</curCd>
        <valUSD>5733732.75</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>2021-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>MISSOURI ST HWY &amp; TRANSN COMMN</name>
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        <cusip>60636WRX5</cusip>
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          <isin value="US60636WRX55"/>
          <ticker value="MOSTRN"/>
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        <curCd>USD</curCd>
        <valUSD>17766438.5</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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      <invstOrSec>
        <name>ARIZONA ST TRANSN BRD</name>
        <lei>N/A</lei>
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        <cusip>040649MM4</cusip>
        <identifiers>
          <isin value="US040649MM45"/>
          <ticker value="AZSTRN"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3057990</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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      <invstOrSec>
        <name>PENNSYLVANIA HSG FIN AGY</name>
        <lei>549300JZVUPNWP77SP29</lei>
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        <cusip>70879QCP6</cusip>
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          <isin value="US70879QCP63"/>
          <ticker value="PASSFH"/>
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        <balance>7000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7033950</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MOUNDS VIEW MINN INDPT SCH DIST NO 621</name>
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        <cusip>620637Z92</cusip>
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          <ticker value="MNDSCD"/>
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        <curCd>USD</curCd>
        <valUSD>4633360.1</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DALLAS CNTY TEX CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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        <cusip>234685LB9</cusip>
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          <ticker value="DALHGR"/>
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        <balance>5610000</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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        <name>DELAWARE ST</name>
        <lei>N/A</lei>
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          <isin value="US246381MZ78"/>
          <ticker value="DES"/>
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        <balance>10000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <name>WISCONSIN ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>549300AEHU3PPOUCIL87</lei>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNIVERSITY MICH</name>
        <lei>549300MFOB21PM9P9H72</lei>
        <title>UNIVERSITY MICH VAR-GEN-SER E-RMKT 02/26/2018 2012 E</title>
        <cusip>914455SC5</cusip>
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          <isin value="US914455SC57"/>
          <ticker value="UNVHGR"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>WISCONSIN ST HEALTH &amp; EDL FACS AUTH</name>
        <lei>549300AEHU3PPOUCIL87</lei>
        <title>WISCONSIN ST HEALTH &amp; EDL FACS AUTH BDS 2018C-4</title>
        <cusip>97712DP34</cusip>
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          <isin value="US97712DP345"/>
          <ticker value="WISMED"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5052300</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.260000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALPINE UTAH SCH DIST</name>
        <lei>N/A</lei>
        <title>ALPINE UTAH SCH DIST GO BLDG BDS 2019 B</title>
        <cusip>021087XF3</cusip>
        <identifiers>
          <isin value="US021087XF32"/>
          <ticker value="ALPSCD"/>
        </identifiers>
        <balance>12825000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13917305.25</valUSD>
        <pctVal>0.3350309207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-15</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>DELAWARE CNTY PA</name>
        <lei>N/A</lei>
        <title>DELAWARE CNTY PA GO BDS 2016</title>
        <cusip>246001ZG9</cusip>
        <identifiers>
          <isin value="US246001ZG92"/>
          <ticker value="DEL"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1067900</valUSD>
        <pctVal>0.0257075284</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>ARIZONA SCH DIST</name>
        <lei>N/A</lei>
        <title>ARIZONA SCH DIST COPS 2019</title>
        <cusip>040577AQ1</cusip>
        <identifiers>
          <isin value="US040577AQ17"/>
          <ticker value="AZSEDU"/>
        </identifiers>
        <balance>23000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23101890</valUSD>
        <pctVal>0.5561311862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-28</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>MONTGOMERY CNTY N C PUB FACS CORP</name>
        <lei>N/A</lei>
        <title>MONTGOMERY CNTY N C PUB FACS CORP BANS 2018</title>
        <cusip>613476AA8</cusip>
        <identifiers>
          <isin value="US613476AA86"/>
          <ticker value="MGMDEV"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3008130</valUSD>
        <pctVal>0.0724146338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>WISCONSIN ST GO REF BDS 2011 SERIES 2</title>
        <cusip>97705LM61</cusip>
        <identifiers>
          <isin value="US97705LM612"/>
          <ticker value="WIS"/>
        </identifiers>
        <balance>6210000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6654015</valUSD>
        <pctVal>0.1601819269</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>SAVANNAH GA HSG AUTH</name>
        <lei>N/A</lei>
        <title>SAVANNAH GA HSG AUTH BDS 2018</title>
        <cusip>804837BP6</cusip>
        <identifiers>
          <isin value="US804837BP61"/>
          <ticker value="SAVMFH"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3008760</valUSD>
        <pctVal>0.0724297998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-01</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>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"/>
        </identifiers>
        <balance>1600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1600784</valUSD>
        <pctVal>0.0385356308</pctVal>
        <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>2.250000000000</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>OREGON ST BUSINESS DEV COMMN</name>
        <lei>N/A</lei>
        <title>OREGON ST BUSINESS DEV COMMN BDS 250</title>
        <cusip>68608GAH0</cusip>
        <identifiers>
          <isin value="US68608GAH02"/>
          <ticker value="ORSDEV"/>
        </identifiers>
        <balance>53400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57451458</valUSD>
        <pctVal>1.3830274270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</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>MEMPHIS TENN HEALTH EDL &amp; HSG FAC BRD</name>
        <lei>N/A</lei>
        <title>MEMPHIS TENN HEALTH EDL &amp; HSG FAC BRD COLLATERALIZED BDS 2019</title>
        <cusip>586169FM1</cusip>
        <identifiers>
          <isin value="US586169FM12"/>
        </identifiers>
        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2505025</valUSD>
        <pctVal>0.0603034005</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>1.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK N Y CITY HSG DEV CORP</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>NEW YORK N Y CITY HSG DEV CORP SUSTAINABLE NEIGHBORHOOD BDS 2017</title>
        <cusip>64972CU50</cusip>
        <identifiers>
          <isin value="US64972CU502"/>
          <ticker value="NYCHSG"/>
        </identifiers>
        <balance>3420000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3433474.8</valUSD>
        <pctVal>0.0826539479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-01</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>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>INDIANA ST FIN AUTH REF BDS 2019 F</title>
        <cusip>45506D7D1</cusip>
        <identifiers>
          <isin value="US45506D7D14"/>
        </identifiers>
        <balance>8500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8856915</valUSD>
        <pctVal>0.2132122802</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>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Boeing Company</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>The Boeing Company 0% CP 29/10/2020</title>
        <cusip>09702LKV6</cusip>
        <identifiers>
          <isin value="US09702LKV61"/>
          <ticker value="BA"/>
        </identifiers>
        <balance>25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24537083.25</valUSD>
        <pctVal>0.5906805553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-29</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>N/A</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>COLUMBUS OHIO</name>
        <lei>N/A</lei>
        <title>COLUMBUS OHIO VARIOUS PURP ULTD TAX BDS 2017A</title>
        <cusip>199492TD1</cusip>
        <identifiers>
          <isin value="US199492TD17"/>
          <ticker value="COL"/>
        </identifiers>
        <balance>13835000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13933781.9</valUSD>
        <pctVal>0.3354275627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-04-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE &amp; ECONOMIC DEV BK</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>CALIFORNIA INFRASTRUCTURE &amp; ECONOMIC DEV BK VAR REF BDS 2011 A-1</title>
        <cusip>13034AZD5</cusip>
        <identifiers>
          <isin value="US13034AZD52"/>
          <ticker value="CASDEV"/>
        </identifiers>
        <balance>30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29997600</valUSD>
        <pctVal>0.7221314304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.383000000000</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>MINNEAPOLIS MINN</name>
        <lei>N/A</lei>
        <title>MINNEAPOLIS MINN GO IMPT VAR PURP BDS 2019</title>
        <cusip>60375BFZ4</cusip>
        <identifiers>
          <isin value="US60375BFZ40"/>
          <ticker value="MIN"/>
        </identifiers>
        <balance>4200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4312014</valUSD>
        <pctVal>0.1038029988</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>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOWER COLO RIV AUTH TEX</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>LOWER COLO RIV AUTH TEX TRANSMISSION CONTRACT REF REV BDS 2011</title>
        <cusip>54811BLX7</cusip>
        <identifiers>
          <isin value="US54811BLX72"/>
          <ticker value="LWCGEN"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2104920</valUSD>
        <pctVal>0.0506716834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-15</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>KENTUCKY HSG CORP</name>
        <lei>549300NTBUU903EKQ287</lei>
        <title>KENTUCKY HSG CORP HSG BDS 2019</title>
        <cusip>491312DY7</cusip>
        <identifiers>
          <isin value="US491312DY76"/>
          <ticker value="KYSMFH"/>
        </identifiers>
        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6053820</valUSD>
        <pctVal>0.1457334485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.000000000000</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 ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK ST DORM AUTH TAX EXMPT BDS 2017 B GRP 1</title>
        <cusip>64990FFM1</cusip>
        <identifiers>
          <isin value="US64990FFM14"/>
          <ticker value="NYSHGR"/>
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        <balance>15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15069450</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>2020-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTH CAROLINA ST</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA ST GO REF BDS 2013 D</title>
        <cusip>658256S78</cusip>
        <identifiers>
          <isin value="US658256S788"/>
          <ticker value="NCS"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4165400</valUSD>
        <pctVal>0.1002735639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-01</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>ALAMO TEX CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>ALAMO TEX CMNTY COLLEGE DIST LTD TAX AND REF BDS 2017</title>
        <cusip>011415QY5</cusip>
        <identifiers>
          <isin value="US011415QY57"/>
          <ticker value="ALAHGR"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4047560</valUSD>
        <pctVal>0.0974368047</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>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UTAH CNTY UTAH HOSP REV V</name>
        <lei>N/A</lei>
        <title>UTAH CNTY UTAH HOSP REV V</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="N/A"/>
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        <balance>27000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27000000</valUSD>
        <pctVal>0.6499702850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.50000035</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHANDLER ARIZ</name>
        <lei>N/A</lei>
        <title>CHANDLER ARIZ GO REF BDS 2014</title>
        <cusip>158843WK4</cusip>
        <identifiers>
          <isin value="US158843WK49"/>
          <ticker value="CHA"/>
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        <balance>520000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>524986.8</valUSD>
        <pctVal>0.0126379933</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>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TEXAS TRANSN COMMN ST HWY FD</name>
        <lei>5493006JSGNPGVJS7691</lei>
        <title>TEXAS TRANSN COMMN ST HWY FD REV REF BDS 2016-B</title>
        <cusip>88283LJZ0</cusip>
        <identifiers>
          <isin value="US88283LJZ04"/>
          <ticker value="TXSTRN"/>
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        <balance>3035000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3183927.45</valUSD>
        <pctVal>0.0766466012</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>Variable</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>TEXAS WATER DEV BRD</name>
        <lei>N/A</lei>
        <title>TEXAS WATER DEV BRD ST WTR IMPLEMENTATION REV FD BDS 2017 A</title>
        <cusip>882854ZM7</cusip>
        <identifiers>
          <isin value="US882854ZM78"/>
          <ticker value="TXSWTR"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4044040</valUSD>
        <pctVal>0.0973520678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-04-15</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>DOUGLAS CNTY GA</name>
        <lei>N/A</lei>
        <title>DOUGLAS CNTY GA GO SALES TAX BDS 2017</title>
        <cusip>259003CQ2</cusip>
        <identifiers>
          <isin value="US259003CQ23"/>
          <ticker value="DOU"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2019040</valUSD>
        <pctVal>0.0486042965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-04-01</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>
        <name>UNIVERSITY ALA</name>
        <lei>CKA5FU7V6HJ1ZF36V297</lei>
        <title>UNIVERSITY ALA BDS 2019 A</title>
        <cusip>914026TY5</cusip>
        <identifiers>
          <isin value="US914026TY50"/>
          <ticker value="UALHGR"/>
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        <balance>2700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2752056</valUSD>
        <pctVal>0.0662501712</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLACK BELT ENERGY GAS DIST ALA</name>
        <lei>549300I8V0Z68JQCB679</lei>
        <title>BLACK BELT ENERGY GAS DIST ALA BDS 2018 B-2</title>
        <cusip>09182RAH4</cusip>
        <identifiers>
          <isin value="US09182RAH49"/>
          <ticker value="BBEUTL"/>
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        <balance>60000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60000000</valUSD>
        <pctVal>1.4443784111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.230000000000</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>CHICAGO ILL O HARE INTL ARPT</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>CHICAGO ILL O HARE INTL ARPT REV BDS 2013</title>
        <cusip>167593MJ8</cusip>
        <identifiers>
          <isin value="US167593MJ88"/>
          <ticker value="CHITRN"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5181700</valUSD>
        <pctVal>0.1247389269</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOSTON MASS</name>
        <lei>N/A</lei>
        <title>BOSTON MASS GO BDS 2019A</title>
        <cusip>100853YS3</cusip>
        <identifiers>
          <isin value="US100853YS30"/>
          <ticker value="BOS"/>
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        <balance>3455000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3752648.25</valUSD>
        <pctVal>0.0903374019</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>FORSYTH CNTY N C</name>
        <lei>549300QZDXNB40E8SI64</lei>
        <title>FORSYTH CNTY N C GO PUB IMPT BDS 2019B</title>
        <cusip>346623GR6</cusip>
        <identifiers>
          <isin value="US346623GR64"/>
          <ticker value="FOR"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1083910</valUSD>
        <pctVal>0.0260929367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FORSYTH CNTY N C</name>
        <lei>549300QZDXNB40E8SI64</lei>
        <title>FORSYTH CNTY N C GO PUB IMPT BDS 2019B</title>
        <cusip>346623GQ8</cusip>
        <identifiers>
          <isin value="US346623GQ81"/>
          <ticker value="FOR"/>
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        <balance>4540000</balance>
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        <curCd>USD</curCd>
        <valUSD>4746343</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-01</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>BOSTON MASS</name>
        <lei>N/A</lei>
        <title>BOSTON MASS GO BDS 2019A</title>
        <cusip>100853YR5</cusip>
        <identifiers>
          <isin value="US100853YR56"/>
          <ticker value="BOS"/>
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        <balance>6000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6279120</valUSD>
        <pctVal>0.1511570895</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-01</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>
        <name>FLORIDA ST BRD ED</name>
        <lei>N/A</lei>
        <title>FLORIDA ST BRD ED CAP OUTLAY REF BDS 2019 A</title>
        <cusip>34153QPX8</cusip>
        <identifiers>
          <isin value="US34153QPX87"/>
          <ticker value="FLSEDU"/>
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        <balance>70000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73903200</valUSD>
        <pctVal>1.7790697765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-01</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CUYAHOGA OHIO MET HSG AUTH</name>
        <lei>N/A</lei>
        <title>CUYAHOGA OHIO MET HSG AUTH BDS 2019</title>
        <cusip>23239TAC5</cusip>
        <identifiers>
          <isin value="US23239TAC53"/>
          <ticker value="CUTHSG"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7039410</valUSD>
        <pctVal>0.1694595305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MURFREESBORO TENN HSG AUTH</name>
        <lei>N/A</lei>
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        <cusip>626549AN9</cusip>
        <identifiers>
          <isin value="US626549AN94"/>
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        <balance>5000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-09-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>YAVAPAI CNTY ARIZ INDL DEV AUTH</name>
        <lei>N/A</lei>
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        <cusip>98521UAA5</cusip>
        <identifiers>
          <isin value="US98521UAA51"/>
          <ticker value="YAVUTL"/>
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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>2027-06-01</maturityDt>
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          <annualizedRt>2.800000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KING CNTY WASH SCH DIST NO 405 BELLEVUE</name>
        <lei>N/A</lei>
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        <cusip>495098ZZ1</cusip>
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          <isin value="US495098ZZ13"/>
          <ticker value="KINSCD"/>
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        <balance>7150000</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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          <maturityDt>2020-12-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KENTUCKY INC KY PUB ENERGY AUTH</name>
        <lei>549300XEJZWHYSY4SL55</lei>
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        <cusip>74440DAV6</cusip>
        <identifiers>
          <isin value="US74440DAV64"/>
          <ticker value="KYSPWR"/>
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        <balance>3725000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
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        <cusip>45204EN38</cusip>
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          <isin value="US45204EN380"/>
          <ticker value="ILSGEN"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
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        <cusip>59260XAA6</cusip>
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          <isin value="US59260XAA63"/>
          <ticker value="MTATRN"/>
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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>2022-03-01</maturityDt>
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          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>74440DAT1</cusip>
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          <isin value="US74440DAT19"/>
          <ticker value="KYSPWR"/>
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        <balance>3500000</balance>
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        <curCd>USD</curCd>
        <valUSD>3546410</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <cusip>93974DJZ2</cusip>
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          <isin value="US93974DJZ24"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MASSACHUSETTS ST</name>
        <lei>5493001N1YCXNI1O7K10</lei>
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        <cusip>57582RPY6</cusip>
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          <isin value="US57582RPY61"/>
          <ticker value="MAS"/>
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        <balance>17400000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>LOUISVILLE &amp; JEFFERSON CNTY METRO GOVT KY</name>
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        <cusip>546749AP7</cusip>
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          <isin value="US546749AP74"/>
          <ticker value="LOUUTL"/>
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        <balance>12200000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>OHIO ST</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <cusip>677524BE9</cusip>
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          <isin value="US677524BE96"/>
          <ticker value="OHSFAC"/>
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        <balance>2750000</balance>
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        <curCd>USD</curCd>
        <valUSD>2809345</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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      <invstOrSec>
        <name>DEER PARK TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="US244127Q745"/>
          <ticker value="DEESCD"/>
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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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        <fairValLevel>2</fairValLevel>
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        <name>LANE CNTY ORE SCH DIST NO 4-J EUGENE</name>
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        <cusip>515300SL6</cusip>
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          <ticker value="LANSCD"/>
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        <balance>2450000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <cusip>93974ECD6</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIZENS PPTY INS CORP FLA</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>OKLAHOMA HSG FIN AGY</name>
        <lei>N/A</lei>
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        <cusip>67886UAH4</cusip>
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          <ticker value="OKSMFH"/>
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        <balance>2000000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TEXAS ST</name>
        <lei>549300X9CH74QB747L76</lei>
        <title>TEXAS ST GO REF PUB FIN AUTH BDS 2018A</title>
        <cusip>882724HX8</cusip>
        <identifiers>
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          <ticker value="TXS"/>
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        <balance>5000000</balance>
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      <invstOrSec>
        <name>CONNECTICUT ST HSG FIN AUTH</name>
        <lei>5493003DXX0NRJKSH186</lei>
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        <cusip>20775C3V4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IOWA FIN AUTH</name>
        <lei>549300NQVL49BTHOW391</lei>
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        <cusip>462467VE8</cusip>
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          <ticker value="IASSFH"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>TEXAS WATER DEV BRD</name>
        <lei>N/A</lei>
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        <cusip>882854V90</cusip>
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          <isin value="US882854V907"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>TEXAS WATER DEV BRD</name>
        <lei>N/A</lei>
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        <cusip>882854W24</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>TEXAS ST</name>
        <lei>549300X9CH74QB747L76</lei>
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        <cusip>8827227E5</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TEXAS WATER DEV BRD</name>
        <lei>N/A</lei>
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        <cusip>882854V82</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
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        <cusip>13063CFF2</cusip>
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          <isin value="US13063CFF23"/>
          <ticker value="CAS"/>
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        <balance>20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20051800</valUSD>
        <pctVal>0.4827064504</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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      <invstOrSec>
        <name>CONNECTICUT ST HSG FIN AUTH</name>
        <lei>5493003DXX0NRJKSH186</lei>
        <title>CONNECTICUT ST HSG FIN AUTH BDS 2019 E-2</title>
        <cusip>20775C3W2</cusip>
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          <isin value="US20775C3W25"/>
          <ticker value="CTSHSG"/>
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        <balance>1685000</balance>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>CLARK CNTY NEV</name>
        <lei>MJZFGXRJ52U8U4MKJ519</lei>
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        <cusip>181008BB8</cusip>
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          <isin value="US181008BB89"/>
          <ticker value="CLAPOL"/>
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        <balance>5600000</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>2036-01-01</maturityDt>
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      <invstOrSec>
        <name>HUMBOLDT CNTY NEV</name>
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        <cusip>445199AP7</cusip>
        <identifiers>
          <isin value="US445199AP74"/>
          <ticker value="HUMPOL"/>
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        <balance>10000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>MONTGOMERY CNTY MD</name>
        <lei>549300GNX5SDUEBKPK13</lei>
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        <cusip>6133407V4</cusip>
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          <isin value="US6133407V45"/>
          <ticker value="MON"/>
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        <name>HILLSBOROUGH CNTY FLA SCH BRD</name>
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        <cusip>43232VUE9</cusip>
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        <name>INDIANA HEALTH FAC FING AUTH</name>
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        <name>CITIZENS PPTY INS CORP FLA</name>
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          <ticker value="CTZGEN"/>
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        <fairValLevel>2</fairValLevel>
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        <name>METROPOLITAN GOVT NASHVILLE &amp; DAVIDSON CNTY TENN</name>
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        <name>VIRGINIA COLLEGE BLDG AUTH VA</name>
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        <cusip>92778VDT2</cusip>
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          <ticker value="VACHGR"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OKLAHOMA ST WTR RES BRD</name>
        <lei>5493007CUNXW5UX11C71</lei>
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          <ticker value="OKSWTR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3533495</valUSD>
        <pctVal>0.0850617316</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-04-01</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>
      <invstOrSec>
        <name>VOLUSIA CNTY FLA SCH BRD</name>
        <lei>N/A</lei>
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        <cusip>92884EJM0</cusip>
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          <isin value="US92884EJM03"/>
          <ticker value="VOLEDU"/>
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        <balance>7300000</balance>
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        <curCd>USD</curCd>
        <valUSD>7463009</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>2020-08-01</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>VOLUSIA CNTY FLA SCH BRD</name>
        <lei>N/A</lei>
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        <cusip>92884EJP3</cusip>
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          <isin value="US92884EJP34"/>
          <ticker value="VOLEDU"/>
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        <balance>2905000</balance>
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        <curCd>USD</curCd>
        <valUSD>3184983.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>METROPOLITAN GOVT NASHVILLE &amp; DAVIDSON CNTY TENN HEALTH &amp; EDL FACS BRD MULTIFAMILY</name>
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          <isin value="US592113BG84"/>
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        <balance>3000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.050000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLIFTON TEX HIGHER ED FIN CORP</name>
        <lei>N/A</lei>
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        <cusip>187145JV0</cusip>
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          <isin value="US187145JV05"/>
          <ticker value="CLIEDU"/>
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        <balance>1120000</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>2021-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLIFTON TEX HIGHER ED FIN CORP</name>
        <lei>N/A</lei>
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        <cusip>187145JW8</cusip>
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          <isin value="US187145JW87"/>
          <ticker value="CLIEDU"/>
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        <balance>1715000</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>2022-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VIRGINIA ST PUB SCH AUTH</name>
        <lei>N/A</lei>
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        <cusip>92818FAH8</cusip>
        <identifiers>
          <isin value="US92818FAH82"/>
          <ticker value="VASSCD"/>
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        <balance>2565000</balance>
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        <curCd>USD</curCd>
        <valUSD>2568360.15</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNIVERSITY NEB FACS CORP</name>
        <lei>N/A</lei>
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        <cusip>914639KZ1</cusip>
        <identifiers>
          <isin value="US914639KZ16"/>
          <ticker value="UNIHGR"/>
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        <balance>9500000</balance>
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        <curCd>USD</curCd>
        <valUSD>10250215</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>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METROPOLITAN GOVT NASHVILLE &amp; DAVIDSON CNTY TENN</name>
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        <cusip>592112SX5</cusip>
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          <isin value="US592112SX51"/>
          <ticker value="MET"/>
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        <balance>18245000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MISSOURI ST HWY &amp; TRANSN COMMN</name>
        <lei>N/A</lei>
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        <cusip>60636WSE6</cusip>
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          <isin value="US60636WSE65"/>
          <ticker value="MOSTRN"/>
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        <balance>9000000</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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLORIDA ST BRD ED</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
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        <cusip>341507R37</cusip>
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          <isin value="US341507R375"/>
          <ticker value="FLSEDU"/>
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        <balance>15010000</balance>
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        <curCd>USD</curCd>
        <valUSD>15302394.8</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <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>CALIFORNIA ST</name>
        <lei>N/A</lei>
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        <cusip>13063DNS3</cusip>
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          <isin value="US13063DNS35"/>
          <ticker value="CAS"/>
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        <balance>18000000</balance>
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        <valUSD>19609920</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ILLINOIS HSG DEV AUTH</name>
        <lei>54930053Z6M9JVHBQZ16</lei>
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        <cusip>45203LCW1</cusip>
        <identifiers>
          <isin value="US45203LCW19"/>
          <ticker value="ILSMFH"/>
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        <balance>4500000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>CONNECTICUT ST HSG FIN AUTH</name>
        <lei>5493003DXX0NRJKSH186</lei>
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        <cusip>20775FBY2</cusip>
        <identifiers>
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          <ticker value="CTSSFH"/>
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        <balance>1050000</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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        <name>NORTHSIDE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>66702RRP9</cusip>
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          <ticker value="NSDSCD"/>
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        <balance>5550000</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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        <name>WASHINGTON ST</name>
        <lei>549300X3TODFMUKLQ364</lei>
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          <ticker value="WAS"/>
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        <balance>11455000</balance>
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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>
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      <invstOrSec>
        <name>CLEAR CREEK TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
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        <cusip>1845404Q2</cusip>
        <identifiers>
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          <ticker value="CLESCD"/>
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        <balance>9500000</balance>
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        <valUSD>9631955</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OKLAHOMA HSG FIN AGY</name>
        <lei>N/A</lei>
        <title>OKLAHOMA HSG FIN AGY BDS 2018</title>
        <cusip>67886UAK7</cusip>
        <identifiers>
          <isin value="US67886UAK79"/>
          <ticker value="OKSMFH"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2519625</valUSD>
        <pctVal>0.0606548659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.375000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OSSEO MINN INDPT SCH DIST NO 279</name>
        <lei>N/A</lei>
        <title>OSSEO MINN INDPT SCH DIST NO 279 ALTERNATIVE FACS GO REF BDS 2018C</title>
        <cusip>688443W30</cusip>
        <identifiers>
          <isin value="US688443W309"/>
          <ticker value="OSSSCD"/>
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        <balance>1480000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1542470.8</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>2021-02-01</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>OREGON ST</name>
        <lei>549300R5SUGZRD8KP359</lei>
        <title>OREGON ST GO BDS 2018A</title>
        <cusip>68609TEH7</cusip>
        <identifiers>
          <isin value="US68609TEH77"/>
          <ticker value="ORS"/>
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        <balance>1400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1472520</valUSD>
        <pctVal>0.0354479350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-01</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>NEW YORK ST HSG FIN AGY</name>
        <lei>5493000LS7KCDB02O506</lei>
        <title>NEW YORK ST HSG FIN AGY AFFORDABLE HSG REV BDS 2016 C</title>
        <cusip>64987BNY0</cusip>
        <identifiers>
          <isin value="US64987BNY01"/>
          <ticker value="NYSHSG"/>
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        <balance>3075000</balance>
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        <curCd>USD</curCd>
        <valUSD>3074385</valUSD>
        <pctVal>0.0740095887</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>1.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ESCAMBIA CNTY FLA</name>
        <lei>BLVY3B5CY5IDPCFLQ577</lei>
        <title>ESCAMBIA CNTY FLA BDS FIRST 2009</title>
        <cusip>296163BF4</cusip>
        <identifiers>
          <isin value="US296163BF41"/>
          <ticker value="ESCUTL"/>
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        <balance>13000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13056420</valUSD>
        <pctVal>0.3143068529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.800000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PINAL CNTY ARIZ</name>
        <lei>N/A</lei>
        <title>PINAL CNTY ARIZ PLEDGE REV OBLIG 2014</title>
        <cusip>72205RBA9</cusip>
        <identifiers>
          <isin value="US72205RBA95"/>
          <ticker value="PINREV"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2121340</valUSD>
        <pctVal>0.0510669616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-01</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>
        <name>NEW YORK N Y CITY HSG DEV CORP</name>
        <lei>N/A</lei>
        <title>NEW YORK N Y CITY HSG DEV CORP REV BDS 2016</title>
        <cusip>64972CXA6</cusip>
        <identifiers>
          <isin value="US64972CXA60"/>
          <ticker value="NYCHSG"/>
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        <balance>3295000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3295691.95</valUSD>
        <pctVal>0.0793371050</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>1.375000000000</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>SOUTHEAST ALA GAS SUPPLY DIST</name>
        <lei>549300BL04JIB2GJZ178</lei>
        <title>SOUTHEAST ALA GAS SUPPLY DIST BDS 2018C</title>
        <cusip>84131TAH5</cusip>
        <identifiers>
          <isin value="US84131TAH59"/>
          <ticker value="SOUUTL"/>
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        <balance>19000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18914120</valUSD>
        <pctVal>0.4553191099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.920000000000</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>SOUTHERN CALIF PUB PWR AUTH</name>
        <lei>5493003B5TD5FWUKMD34</lei>
        <title>SOUTHERN CALIF PUB PWR AUTH REF BDS 2018 A</title>
        <cusip>842475K79</cusip>
        <identifiers>
          <isin value="US842475K796"/>
          <ticker value="STNPWR"/>
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        <balance>20000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20164000</valUSD>
        <pctVal>0.4854074380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Variable</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>RENO NEV</name>
        <lei>549300M4R5WWSUWY8D52</lei>
        <title>RENO NEV CAP IMPT REF BDS 2013A</title>
        <cusip>759829ZV9</cusip>
        <identifiers>
          <isin value="US759829ZV95"/>
          <ticker value="REN"/>
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        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1262568</valUSD>
        <pctVal>0.0303937660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-01</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>CHARLOTTE-MECKLENBERG HOSP AUTH N C</name>
        <lei>549300XOH4JU704GMZ32</lei>
        <title>CHARLOTTE-MECKLENBERG HOSP AUTH N C VAR RATE HLTH BDS 2018 D</title>
        <cusip>160853TM9</cusip>
        <identifiers>
          <isin value="US160853TM94"/>
          <ticker value="CHAMED"/>
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        <balance>42000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42200760</valUSD>
        <pctVal>1.0158977779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-15</maturityDt>
          <couponKind>Floating</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>ALAMO HEIGHTS TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>ALAMO HEIGHTS TEX INDPT SCH DIST VAR RATE UNLTD TAX SCH BLDG BDS 2018 B</title>
        <cusip>011338VP2</cusip>
        <identifiers>
          <isin value="US011338VP22"/>
          <ticker value="ALHSCD"/>
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        <balance>2700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2749248</valUSD>
        <pctVal>0.0661825743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.000000000000</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>LOUISA VA INDL DEV AUTH</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>LOUISA VA INDL DEV AUTH REF BDS 2008 C</title>
        <cusip>546068AU1</cusip>
        <identifiers>
          <isin value="US546068AU13"/>
          <ticker value="LOUPOL"/>
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        <balance>3750000</balance>
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        <curCd>USD</curCd>
        <valUSD>3769762.5</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>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.800000000000</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>HOUSTON TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>HOUSTON TEX INDPT SCH DIST VAR RT LTD TAX HOUSE BDS 2014 A-2</title>
        <cusip>442403PN5</cusip>
        <identifiers>
          <isin value="US442403PN52"/>
          <ticker value="HOUSCD"/>
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        <balance>14000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14357840</valUSD>
        <pctVal>0.3456359021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>HOUSTON TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>HOUSTON TEX INDPT SCH DIST VAR RATE LTD TAX REF BDS 2012</title>
        <cusip>442403MR9</cusip>
        <identifiers>
          <isin value="US442403MR93"/>
          <ticker value="HOUSCD"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4062440</valUSD>
        <pctVal>0.0977950105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.400000000000</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>MINNESOTA ST</name>
        <lei>N/A</lei>
        <title>MINNESOTA ST GO ST VAR PURP BDS 2018 A</title>
        <cusip>60412ANW9</cusip>
        <identifiers>
          <isin value="US60412ANW98"/>
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        <balance>8000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8796880</valUSD>
        <pctVal>0.2117670593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</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>POLK CNTY FLA SCH DIST</name>
        <lei>N/A</lei>
        <title>POLK CNTY FLA SCH DIST BDS 2019</title>
        <cusip>731127CQ7</cusip>
        <identifiers>
          <isin value="US731127CQ71"/>
          <ticker value="POKEDU"/>
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        <balance>1750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1867250</valUSD>
        <pctVal>0.0449502598</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EAST BATON ROUGE PARISH LA CAP IMPTS DIST</name>
        <lei>54930022HALD35F41410</lei>
        <title>EAST BATON ROUGE PARISH LA CAP IMPTS DIST BDS 2019</title>
        <cusip>270773AB0</cusip>
        <identifiers>
          <isin value="US270773AB01"/>
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        <balance>1270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1346631.8</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>2021-08-01</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>
      <invstOrSec>
        <name>UTAH CNTY UTAH</name>
        <lei>N/A</lei>
        <title>UTAH CNTY UTAH VAR RATE HOSP REV BDS 2016 D</title>
        <cusip>917393CC2</cusip>
        <identifiers>
          <isin value="US917393CC20"/>
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        <balance>21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21000000</valUSD>
        <pctVal>0.5055324439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.500000000000</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>
      <invstOrSec>
        <name>PENNSYLVANIA HSG FIN AGY</name>
        <lei>549300JZVUPNWP77SP29</lei>
        <title>PENNSYLVANIA HSG FIN AGY BDS 2018-126 B</title>
        <cusip>70879QBC6</cusip>
        <identifiers>
          <isin value="US70879QBC69"/>
          <ticker value="PASSFH"/>
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        <balance>26250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26404350</valUSD>
        <pctVal>0.6356312183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.854000000000</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>GEORGIA ST</name>
        <lei>N/A</lei>
        <title>GEORGIA ST GO REF BDS 2017 C</title>
        <cusip>373385AY9</cusip>
        <identifiers>
          <isin value="US373385AY97"/>
          <ticker value="GAS"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2548825</valUSD>
        <pctVal>0.0613577967</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>
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      </invstOrSec>
      <invstOrSec>
        <name>DISTRICT COLUMBIA</name>
        <lei>N/A</lei>
        <title>DISTRICT COLUMBIA SECD REF BDS 2019 C</title>
        <cusip>25477GPR0</cusip>
        <identifiers>
          <isin value="US25477GPR01"/>
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        <balance>21000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22418340</valUSD>
        <pctVal>0.5396761051</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SAN ANTONIO TEX HSG TR FIN CORP</name>
        <lei>549300V9VFLLKMTZ4J58</lei>
        <title>SAN ANTONIO TEX HSG TR FIN CORP BDS 2018</title>
        <cusip>79626PAF9</cusip>
        <identifiers>
          <isin value="US79626PAF99"/>
          <ticker value="SANMFH"/>
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        <balance>1700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1704964</valUSD>
        <pctVal>0.0410435532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.100000000000</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>WISCONSIN ST</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>WISCONSIN ST GO BDS 2019 B</title>
        <cusip>97705MPA7</cusip>
        <identifiers>
          <isin value="US97705MPA70"/>
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        <balance>8500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9267550</valUSD>
        <pctVal>0.2230974857</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DISTRICT COLUMBIA</name>
        <lei>N/A</lei>
        <title>DISTRICT COLUMBIA SECD REF BDS 2019 C</title>
        <cusip>25477GPS8</cusip>
        <identifiers>
          <isin value="US25477GPS83"/>
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        <balance>13195000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14592878.3</valUSD>
        <pctVal>0.3512939729</pctVal>
        <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>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>AMERICAN MUN PWR OHIO INC</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>AMERICAN MUN PWR OHIO INC REV REF BDS 2015</title>
        <cusip>02765UFV1</cusip>
        <identifiers>
          <isin value="US02765UFV17"/>
          <ticker value="AMEPWR"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6473520</valUSD>
        <pctVal>0.1558368755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-02-15</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLORADO SCH MINES</name>
        <lei>N/A</lei>
        <title>COLORADO SCH MINES REF BDS 2018A</title>
        <cusip>19658QFE2</cusip>
        <identifiers>
          <isin value="US19658QFE26"/>
          <ticker value="COSFAC"/>
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        <balance>5465000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5487570.45</valUSD>
        <pctVal>0.1321021381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.644000000000</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>PRINCE GEORGES CNTY MD</name>
        <lei>N/A</lei>
        <title>PRINCE GEORGES CNTY MD GO CONSOLIDATED PUB IMPT BDS 2019 A</title>
        <cusip>7417015D4</cusip>
        <identifiers>
          <isin value="US7417015D47"/>
          <ticker value="PRI"/>
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        <balance>4610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4887706.4</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>2021-07-15</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>
      <invstOrSec>
        <name>MIAMI-DADE CNTY FLA HSG FIN AUTH</name>
        <lei>N/A</lei>
        <title>MIAMI-DADE CNTY FLA HSG FIN AUTH BDS 2018</title>
        <cusip>593344AU8</cusip>
        <identifiers>
          <isin value="US593344AU86"/>
          <ticker value="MIAMFH"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4015080</valUSD>
        <pctVal>0.0966549145</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.375000000000</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>DENVER COLO CITY &amp; CNTY</name>
        <lei>N/A</lei>
        <title>DENVER COLO CITY &amp; CNTY GO ELEVATE BDS 2019 C</title>
        <cusip>249164PQ1</cusip>
        <identifiers>
          <isin value="US249164PQ16"/>
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        <balance>20000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22002800</valUSD>
        <pctVal>0.5296728217</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEVADA ST</name>
        <lei>N/A</lei>
        <title>NEVADA ST GO LTD TAX CAP IMPT REF BDS 2019 A</title>
        <cusip>641462FF8</cusip>
        <identifiers>
          <isin value="US641462FF83"/>
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        <balance>16500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17352390</valUSD>
        <pctVal>0.4177236249</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-01</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>NORTH CAROLINA ST</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA ST VEH BDS 2019</title>
        <cusip>658268DT1</cusip>
        <identifiers>
          <isin value="US658268DT14"/>
          <ticker value="NCSGEN"/>
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        <balance>7010000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7587203.4</valUSD>
        <pctVal>0.1826465465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-01</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>GREENWICH CONN</name>
        <lei>N/A</lei>
        <title>GREENWICH CONN GO BDS 2017</title>
        <cusip>396784MH0</cusip>
        <identifiers>
          <isin value="US396784MH01"/>
          <ticker value="GRE"/>
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        <balance>5500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5507370</valUSD>
        <pctVal>0.1325787722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-01-15</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>FRANKLIN CNTY TENN HEALTH &amp; EDL FACS BRD</name>
        <lei>N/A</lei>
        <title>FRANKLIN CNTY TENN HEALTH &amp; EDL FACS BRD COLLATERALLIZED MULTI FAM HSG BDS 2018</title>
        <cusip>353325EZ2</cusip>
        <identifiers>
          <isin value="US353325EZ22"/>
          <ticker value="FRAMED"/>
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        <balance>3750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3780750</valUSD>
        <pctVal>0.0910138946</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>Variable</couponKind>
          <annualizedRt>2.400000000000</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>MASSACHUSETTS ST HSG FIN AGY</name>
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      <invstOrSec>
        <name>FLORIDA ST TPK AUTH</name>
        <lei>N/A</lei>
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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>2022-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>ALABAMA ST PUB SCH &amp; COLLEGE AUTH</name>
        <lei>N/A</lei>
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        <cusip>010609AP0</cusip>
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          <ticker value="ALSHGR"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-01-01</maturityDt>
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      <invstOrSec>
        <name>NEVADA ST</name>
        <lei>N/A</lei>
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        <cusip>641462FG6</cusip>
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          <isin value="US641462FG66"/>
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        <balance>7050000</balance>
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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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          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>LOUISVILLE &amp; JEFFERSON CNTY METRO GOVT KY</name>
        <lei>5493007ZG5EVEXW01J70</lei>
        <title>LOUISVILLE &amp; JEFFERSON CNTY METRO GOVT KY REV REF BDS 2007 A</title>
        <cusip>546751AK4</cusip>
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          <isin value="US546751AK41"/>
          <ticker value="LOUENV"/>
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        <balance>7250000</balance>
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        <curCd>USD</curCd>
        <valUSD>7278275</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>2033-06-01</maturityDt>
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      <invstOrSec>
        <name>NORTH CAROLINA ST</name>
        <lei>N/A</lei>
        <title>NORTH CAROLINA ST VEH BDS 2019</title>
        <cusip>658268DS3</cusip>
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          <isin value="US658268DS31"/>
          <ticker value="NCSGEN"/>
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        <balance>8000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8355040</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>2021-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>American Honda Finance Corporation</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>HNDA 1.95 05/20/22</title>
        <cusip>02665WDF5</cusip>
        <identifiers>
          <isin value="US02665WDF59"/>
          <ticker value="HMC/22D"/>
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        <balance>8000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8029027.12</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.950000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo Bank, National Association</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>WFC V3.325 07/23/21 BKNT</title>
        <cusip>94988J5P8</cusip>
        <identifiers>
          <isin value="US94988J5P84"/>
          <ticker value="WFC"/>
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        <balance>14200000</balance>
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        <curCd>USD</curCd>
        <valUSD>14311187.28</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.325000000000</annualizedRt>
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      <invstOrSec>
        <name>ABN AMRO Bank N.V.</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABNANV 3.4 08/27/21 144A</title>
        <cusip>00084DAT7</cusip>
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          <isin value="US00084DAT72"/>
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        <balance>5600000</balance>
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        <curCd>USD</curCd>
        <valUSD>5723076.8</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Nordea Bank ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>NDASS F 08/30/23 144A</title>
        <cusip>65557CAZ6</cusip>
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          <ticker value="NDASS"/>
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        <balance>5800000</balance>
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        <curCd>USD</curCd>
        <valUSD>5792542.71</valUSD>
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        <invCountry>FI</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-30</maturityDt>
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      <invstOrSec>
        <name>Northern Inst Fds</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>Northern Inst Fds GOVT PTFL</title>
        <cusip>665278404</cusip>
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          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>M&amp;T Bank Corporation</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>MTB F 07/26/23</title>
        <cusip>55261FAK0</cusip>
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          <isin value="US55261FAK03"/>
          <ticker value="MTB"/>
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        <curCd>USD</curCd>
        <valUSD>12766130.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.615630000000</annualizedRt>
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      <invstOrSec>
        <name>MISSISSIPPI ST</name>
        <lei>549300JRWW5RFQUB7P94</lei>
        <title>MISSISSIPPI ST GO BDS 2017B</title>
        <cusip>605581JY4</cusip>
        <identifiers>
          <isin value="US605581JY46"/>
          <ticker value="MSS"/>
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        <balance>3310000</balance>
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        <curCd>USD</curCd>
        <valUSD>3310662</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>2027-09-01</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fox Corporation</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>FOXA 3.666 01/25/22 144A</title>
        <cusip>35137LAA3</cusip>
        <identifiers>
          <isin value="US35137LAA35"/>
          <ticker value="FOXA"/>
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        <balance>2900000</balance>
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        <curCd>USD</curCd>
        <valUSD>2994902.47</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-01-25</maturityDt>
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          <annualizedRt>3.666000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group Inc</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMIBK F 03/09/21</title>
        <cusip>86562MAD2</cusip>
        <identifiers>
          <isin value="US86562MAD20"/>
          <ticker value="SUMIBK"/>
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        <balance>7000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7114765.28</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-09</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.565000000000</annualizedRt>
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      <invstOrSec>
        <name>CYPRESS-FAIRBANKS TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>CYPRESS-FAIRBANKS TEX INDPT SCH DIST VAR RT ULTD TAX SCH BLDG BDS 2014 B</title>
        <cusip>2327605C8</cusip>
        <identifiers>
          <isin value="US2327605C81"/>
          <ticker value="CYSSCD"/>
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        <curCd>USD</curCd>
        <valUSD>7134349.3</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.400000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Citibank, N.A.</name>
        <lei>E57ODZWZ7FF32TWEFA76</lei>
        <title>C 3.4 07/23/21 BKNT</title>
        <cusip>17325FAQ1</cusip>
        <identifiers>
          <isin value="US17325FAQ19"/>
          <ticker value="C"/>
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        <balance>17000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17365072.96</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</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>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MUFG 2.623 07/18/22</title>
        <cusip>606822BL7</cusip>
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      <invstOrSec>
        <name>Bank of America Corporation</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Company Inc</name>
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      <invstOrSec>
        <name>Capital One Financial Corporation</name>
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        <invCountry>US</invCountry>
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        <name>SunTrust Bank</name>
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        <title>TFC F 08/02/22 BKNT</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-02</maturityDt>
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      <invstOrSec>
        <name>Occidental Petroleum Corporation</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-08-13</maturityDt>
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      <invstOrSec>
        <name>NEXTERA ENERGY CAPITAL HLDGS INC</name>
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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>ING Groep N.V.</name>
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        <title>INTNED F 03/29/22</title>
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        <name>Marriott International, Inc.</name>
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        <name>The Boeing Company</name>
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        <title>BA 2.3 08/01/21</title>
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          <couponKind>Fixed</couponKind>
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        <name>Altria Group, Inc.</name>
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        <title>MO 3.49 02/14/22</title>
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        <name>UBS Group AG</name>
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        <invCountry>CH</invCountry>
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        <name>United Technologies Corporation</name>
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        <name>AT&amp;T Inc</name>
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      <invstOrSec>
        <name>Capital One, National Association</name>
        <lei>207ALC1P1YM0OVDV0K75</lei>
        <title>COF 2.15 09/06/22</title>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MS F 04/21/21 GMTN</title>
        <cusip>61746BEB8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hewlett Packard Enterprise Company</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mondelez International Holdings Netherlands BV</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-19</maturityDt>
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        <name>PENNSYLVANIA ECONOMIC DEV FING AUTH</name>
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        <cusip>708692BC1</cusip>
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        <name>Paypal Holdings Incorporation</name>
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        <name>YORK CNTY S C SCH DIST NO 4 FORT MILL</name>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>METROPOLITAN TRANSN AUTH N Y</name>
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        <cusip>59261ANT0</cusip>
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          <ticker value="MTATRN"/>
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        <name>NEXTERA ENERGY CAPITAL HLDGS INC</name>
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        <name>ING Groep N.V.</name>
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        <name>Citigroup Inc.</name>
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        <name>General Motors Financial Company Inc</name>
        <lei>5493008B6JBRUJ90QL97</lei>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Company</name>
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        <name>American Express Company</name>
        <lei>R4PP93JZOLY261QX3811</lei>
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      <invstOrSec>
        <name>Volkswagen Group of America Finance LLC</name>
        <lei>5493002SQ1AVQBY41K40</lei>
        <title>VW 4 11/12/21 144A</title>
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        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBV F 11/19/21 144A</title>
        <cusip>00287YBJ7</cusip>
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        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBV 2.3 11/21/22 144A</title>
        <cusip>00287YBL2</cusip>
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        <name>U.S. Bank National Association</name>
        <lei>6BYL5QZYBDK8S7L73M02</lei>
        <title>USB 2.65 05/23/22 BKNT</title>
        <cusip>90331HPC1</cusip>
        <identifiers>
          <isin value="US90331HPC15"/>
          <ticker value="USB"/>
        </identifiers>
        <balance>30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30561796.8</valUSD>
        <pctVal>0.7357133250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Harley-Davidson Financial Services Inc.</name>
        <lei>RLUFFFFW4GRYU77BTS24</lei>
        <title>HOG 3.55 05/21/21 144A</title>
        <cusip>41284VAB8</cusip>
        <identifiers>
          <isin value="US41284VAB80"/>
          <ticker value="HOG"/>
        </identifiers>
        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10185247.8</valUSD>
        <pctVal>0.2451892006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.550000000000</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>
