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        <name>County of Broward FL Tourist Development Tax Revenue</name>
        <lei>N/A</lei>
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        <cusip>115085AH5</cusip>
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          <isin value="US115085AH54"/>
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        <balance>50000.00000000</balance>
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        <valUSD>55276.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Calhoun County Independent School District</name>
        <lei>N/A</lei>
        <title>Calhoun County Independent School District, Series 2024</title>
        <cusip>129703FQ2</cusip>
        <identifiers>
          <isin value="US129703FQ28"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26881.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canyon Independent School District</name>
        <lei>N/A</lei>
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        <cusip>139015RE3</cusip>
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          <isin value="US139015RE38"/>
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        <valUSD>37634.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Canyons School District</name>
        <lei>N/A</lei>
        <title>Canyons School District, Series 2021B</title>
        <cusip>139078GM5</cusip>
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          <isin value="US139078GM50"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81442.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Canyons School District</name>
        <lei>N/A</lei>
        <title>Canyons School District, Series 2022</title>
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          <isin value="US139078GT04"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55458.50000000</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>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Central Valley Water Reclamation Facility</name>
        <lei>N/A</lei>
        <title>Central Valley Water Reclamation Facility, Series 2021C</title>
        <cusip>155796BC8</cusip>
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          <isin value="US155796BC88"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>59195.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport, Series 2024D</title>
        <cusip>1675936J6</cusip>
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          <isin value="US1675936J61"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104607.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Cook County School District No. 63 East Maine</name>
        <lei>N/A</lei>
        <title>Cook County School District No. 63, Series 2019</title>
        <cusip>213651MR0</cusip>
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          <isin value="US213651MR06"/>
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        <balance>165000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>168545.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Crowley Independent School District</name>
        <lei>N/A</lei>
        <title>Crowley Independent School District, Series 2019</title>
        <cusip>228130GB0</cusip>
        <identifiers>
          <isin value="US228130GB01"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100708.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Crown Point Multi School Building Corp.</name>
        <lei>N/A</lei>
        <title>Crown Point Multi School Building Corp., Series 2023</title>
        <cusip>228485LT3</cusip>
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          <isin value="US228485LT39"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90131.45000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Delaware</name>
        <lei>N/A</lei>
        <title>State of Delaware, Series 2023A</title>
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          <isin value="US246381SG34"/>
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        <valUSD>54263.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Delaware</name>
        <lei>N/A</lei>
        <title>State of Delaware, Series 2024A</title>
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          <isin value="US246381TF42"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2030-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <cusip>25476FZM3</cusip>
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          <isin value="US25476FZM30"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80473.50000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Elkhorn School District</name>
        <lei>N/A</lei>
        <title>Elkhorn School District, Series 2021</title>
        <cusip>259309X64</cusip>
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          <isin value="US259309X648"/>
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        <balance>20000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>DuPage County School District No. 41 Glen Ellyn</name>
        <lei>N/A</lei>
        <title>DuPage County School District No. 41 Glen Ellyn, Series 2017</title>
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          <isin value="US263021EP89"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Eagan MN</name>
        <lei>N/A</lei>
        <title>City of Eagan, Series 2024A</title>
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          <isin value="US269408QX10"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fargo Park District</name>
        <lei>N/A</lei>
        <title>Fargo Park District, Series 2022A</title>
        <cusip>307489XY5</cusip>
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          <isin value="US307489XY51"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27005.50000000</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>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Florida Department of Transportation Turnpike System Revenue</name>
        <lei>N/A</lei>
        <title>State of Florida, Series 2020B</title>
        <cusip>343137HK4</cusip>
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          <isin value="US343137HK41"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75845.00000000</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>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <invstOrSec>
        <name>Fort Worth Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US3494608E83"/>
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      <invstOrSec>
        <name>Galveston Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US364496QA01"/>
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        <curCd>USD</curCd>
        <valUSD>32230.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Goose Creek Consolidated Independent School District</name>
        <lei>N/A</lei>
        <title>Goose Creek Consolidated Independent School District, Series 2019A</title>
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          <isin value="US382604T483"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Granite School District Board of Education</name>
        <lei>N/A</lei>
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          <isin value="US387460QM34"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27098.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Hamilton OH Sales Tax Revenue</name>
        <lei>N/A</lei>
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        <cusip>407287MS7</cusip>
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          <isin value="US407287MS70"/>
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        <curCd>USD</curCd>
        <valUSD>136107.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Hennepin MN</name>
        <lei>254900YDNULMQREFAU43</lei>
        <title>County of Hennepin, Series 2019B</title>
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          <isin value="US425507HH68"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>91315.50000000</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>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Idaho Housing &amp; Finance Association</name>
        <lei>5493002WM3NYB1LQB744</lei>
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        <cusip>45130ABC8</cusip>
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          <isin value="US45130ABC80"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>81720.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois State Toll Highway Authority</name>
        <lei>549300ISBFGI8MJJKM98</lei>
        <title>Illinois State Toll Highway Authority, Series 2019B</title>
        <cusip>452252NW5</cusip>
        <identifiers>
          <isin value="US452252NW54"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49252.95000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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        <cusip>45506EBP7</cusip>
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          <isin value="US45506EBP79"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78939.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jackson County School District/GA</name>
        <lei>N/A</lei>
        <title>Jackson County School District, Series 2025</title>
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          <isin value="US466784ED30"/>
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        <balance>35000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jackson County School District No. R-IV Blue Springs</name>
        <lei>N/A</lei>
        <title>Jackson County School District No. R-IV Blue Springs, Series 2024</title>
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          <isin value="US467486YA87"/>
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        <balance>50000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
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        <cusip>49151F4Q0</cusip>
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          <isin value="US49151F4Q00"/>
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        <balance>80000.00000000</balance>
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          <maturityDt>2029-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>King County School District No. 411 Issaquah</name>
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        <title>King County School District No. 411 Issaquah, Series 2024</title>
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          <isin value="US4952246G77"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Kingsport TN</name>
        <lei>549300CNSHTU7LSLB359</lei>
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          <isin value="US496443YP16"/>
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          <maturityDt>2028-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Knoxville TN Electric System Revenue</name>
        <lei>N/A</lei>
        <title>City of Knoxville, Series 2022OO</title>
        <cusip>499746X67</cusip>
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          <isin value="US499746X674"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44250.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Knoxville TN Wastewater System Revenue</name>
        <lei>N/A</lei>
        <title>City of Knoxville, Series 2021A</title>
        <cusip>499815B64</cusip>
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          <isin value="US499815B640"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36093.75000000</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>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Las Vegas Valley Water District</name>
        <lei>N/A</lei>
        <title>Las Vegas Valley Water District, Series 2020C</title>
        <cusip>517845KA0</cusip>
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          <isin value="US517845KA08"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37972.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Lawrence KS</name>
        <lei>5493004LLF0HG6XS2E46</lei>
        <title>City of Lawrence, Series 2025A</title>
        <cusip>520121WM2</cusip>
        <identifiers>
          <isin value="US520121WM25"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44504.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Maine Municipal Bond Bank</name>
        <lei>N/A</lei>
        <title>Maine Municipal Bond Bank, Series 2024A</title>
        <cusip>56045R7T0</cusip>
        <identifiers>
          <isin value="US56045R7T03"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44552.80000000</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>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Manchester NH</name>
        <lei>N/A</lei>
        <title>City of Manchester, Series 2020C</title>
        <cusip>562333NY6</cusip>
        <identifiers>
          <isin value="US562333NY69"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39047.05000000</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>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Mansfield TX</name>
        <lei>N/A</lei>
        <title>City of Mansfield, Series 2025</title>
        <cusip>564378QA8</cusip>
        <identifiers>
          <isin value="US564378QA82"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64534.20000000</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>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Maryland</name>
        <lei>N/A</lei>
        <title>State of Maryland, Series 2020B</title>
        <cusip>574193TL2</cusip>
        <identifiers>
          <isin value="US574193TL21"/>
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        <balance>90000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95851.80000000</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>2028-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>County of Maui HI</name>
        <lei>N/A</lei>
        <title>County of Maui, Series 2020</title>
        <cusip>5772856Y0</cusip>
        <identifiers>
          <isin value="US5772856Y02"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38560.90000000</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>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>County of Maury TN</name>
        <lei>N/A</lei>
        <title>County of Maury, Series 2021</title>
        <cusip>577625G26</cusip>
        <identifiers>
          <isin value="US577625G266"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46673.55000000</valUSD>
        <pctVal>0.777728325439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>County of Maury TN</name>
        <lei>N/A</lei>
        <title>County of Maury, Series 2025</title>
        <cusip>577625T63</cusip>
        <identifiers>
          <isin value="US577625T632"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89663.10000000</valUSD>
        <pctVal>1.494069609375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>County of Milwaukee WI</name>
        <lei>N/A</lei>
        <title>County of Milwaukee, Series 2019A</title>
        <cusip>602245W81</cusip>
        <identifiers>
          <isin value="US602245W814"/>
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        <balance>185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188100.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mitchell School District No. 17-2</name>
        <lei>N/A</lei>
        <title>Mitchell School District No. 17-2, Series 2024</title>
        <cusip>606687KB6</cusip>
        <identifiers>
          <isin value="US606687KB66"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44170.80000000</valUSD>
        <pctVal>0.736024628880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>City of Morristown TN</name>
        <lei>N/A</lei>
        <title>City of Morristown, Series 2019B</title>
        <cusip>618635NV4</cusip>
        <identifiers>
          <isin value="US618635NV42"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>154900.50000000</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>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Nashwauk Keewatin Independent School District No. 319</name>
        <lei>N/A</lei>
        <title>Nashwauk Keewatin Independent School District No. 319, Series 2022A</title>
        <cusip>631500CN3</cusip>
        <identifiers>
          <isin value="US631500CN32"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49497.30000000</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>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nevada System of Higher Education</name>
        <lei>N/A</lei>
        <title>Nevada System of Higher Education, Series 2018A</title>
        <cusip>641494FL8</cusip>
        <identifiers>
          <isin value="US641494FL87"/>
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        <balance>195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>197269.80000000</valUSD>
        <pctVal>3.287136102004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of New Berlin WI</name>
        <lei>N/A</lei>
        <title>City of New Berlin, Series 2021B</title>
        <cusip>642288X41</cusip>
        <identifiers>
          <isin value="US642288X418"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25873.25000000</valUSD>
        <pctVal>0.431129823983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>New Caney Independent School District</name>
        <lei>N/A</lei>
        <title>New Caney Independent School District, Series 2024</title>
        <cusip>643154KH9</cusip>
        <identifiers>
          <isin value="US643154KH91"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37590.70000000</valUSD>
        <pctVal>0.626379441098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>County of New Castle DE</name>
        <lei>N/A</lei>
        <title>County of New Castle, Series 2025</title>
        <cusip>64327TKP2</cusip>
        <identifiers>
          <isin value="US64327TKP20"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183492.00000000</valUSD>
        <pctVal>3.057554565518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of New Hampshire</name>
        <lei>N/A</lei>
        <title>State of New Hampshire, Series 2022A</title>
        <cusip>6446827M2</cusip>
        <identifiers>
          <isin value="US6446827M28"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75563.60000000</valUSD>
        <pctVal>1.259127537805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>State of New Hampshire</name>
        <lei>N/A</lei>
        <title>State of New Hampshire, Series 2023A</title>
        <cusip>64468FAG2</cusip>
        <identifiers>
          <isin value="US64468FAG28"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38556.00000000</valUSD>
        <pctVal>0.642464378981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nicolet Union High School District</name>
        <lei>N/A</lei>
        <title>Nicolet Union High School District, Series 2022</title>
        <cusip>654064GZ1</cusip>
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          <isin value="US654064GZ18"/>
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        <valUSD>54989.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of North Carolina</name>
        <lei>N/A</lei>
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        <cusip>65829QDJ0</cusip>
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          <isin value="US65829QDJ04"/>
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        <valUSD>155008.50000000</valUSD>
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          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Davis County Sewer District</name>
        <lei>N/A</lei>
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          <isin value="US659079EM58"/>
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      <invstOrSec>
        <name>Borough of North Slope AK</name>
        <lei>N/A</lei>
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          <isin value="US662523P864"/>
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        <valUSD>103476.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-30</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <cusip>677524DL1</cusip>
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          <isin value="US677524DL12"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104332.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Ohio</name>
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        <cusip>677587DS3</cusip>
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          <isin value="US677587DS35"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49400.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ohio Water Development Authority Water Pollution Control Loan Fund</name>
        <lei>N/A</lei>
        <title>Ohio Water Development Authority, Series 2023C</title>
        <cusip>67766WL83</cusip>
        <identifiers>
          <isin value="US67766WL833"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44347.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Otsego Public Schools</name>
        <lei>N/A</lei>
        <title>Otsego Public Schools, Series 2020I</title>
        <cusip>689138JL0</cusip>
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          <isin value="US689138JL01"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38545.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Seattle WA</name>
        <lei>N/A</lei>
        <title>City of Seattle, Series 2025</title>
        <cusip>812627RU3</cusip>
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          <isin value="US812627RU30"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65055.60000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Seattle WA Drainage &amp; Wastewater Revenue</name>
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        <title>City of Seattle, Series 2022</title>
        <cusip>812631QY8</cusip>
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          <isin value="US812631QY80"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48008.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Sheboygan Area School District</name>
        <lei>N/A</lei>
        <title>Sheboygan Area School District</title>
        <cusip>821023PE2</cusip>
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          <isin value="US821023PE25"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43941.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sweetwater County 2023 Specific Purpose Tax Joint Powers Board</name>
        <lei>N/A</lei>
        <title>Sweetwater County 2023 Specific Purpose Tax Joint Powers Board, Series 2023</title>
        <cusip>87048HAD5</cusip>
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          <isin value="US87048HAD52"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36151.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tomball Independent School District</name>
        <lei>N/A</lei>
        <title>Tomball Independent School District, Series 2020</title>
        <cusip>889855L59</cusip>
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          <isin value="US889855L593"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49312.80000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tomball Independent School District</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>University of South Carolina</name>
        <lei>N/A</lei>
        <title>University of South Carolina, Series 2022A</title>
        <cusip>913367FX1</cusip>
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          <isin value="US913367FX15"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25821.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Virginia Beach VA</name>
        <lei>N/A</lei>
        <title>City of Virginia Beach, Series 2024C</title>
        <cusip>927734Y56</cusip>
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          <isin value="US927734Y563"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78936.00000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-02-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Commonwealth of Virginia</name>
        <lei>N/A</lei>
        <title>Commonwealth of Virginia, Series 2018A</title>
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          <isin value="US928109X775"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79560.75000000</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>2028-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Series R-2018 D</title>
        <cusip>93974DY51</cusip>
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          <isin value="US93974DY511"/>
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        <balance>30000.00000000</balance>
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        <valUSD>31202.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Series 2020C</title>
        <cusip>93974EEC6</cusip>
        <identifiers>
          <isin value="US93974EEC66"/>
        </identifiers>
        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49438.80000000</valUSD>
        <pctVal>0.823806098651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Series 2021F</title>
        <cusip>93974EPJ9</cusip>
        <identifiers>
          <isin value="US93974EPJ90"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79542.75000000</valUSD>
        <pctVal>1.325432707782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waukee Community School District</name>
        <lei>N/A</lei>
        <title>Waukee Community School District, Series 2023 A</title>
        <cusip>942833C36</cusip>
        <identifiers>
          <isin value="US942833C362"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38267.60000000</valUSD>
        <pctVal>0.637658726764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>City of Winston-Salem NC</name>
        <lei>549300AUJB2WE4FMLE24</lei>
        <title>City of Winston-Salem, Series 2022A</title>
        <cusip>975680FR5</cusip>
        <identifiers>
          <isin value="US975680FR53"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44315.20000000</valUSD>
        <pctVal>0.738430787619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Wisconsin</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>State of Wisconsin, Series 2020B</title>
        <cusip>97705MTT2</cusip>
        <identifiers>
          <isin value="US97705MTT26"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64979.40000000</valUSD>
        <pctVal>1.082761434474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wisconsin Department of Transportation</name>
        <lei>N/A</lei>
        <title>Wisconsin Department of Transportation, Series 2017-2</title>
        <cusip>977123T99</cusip>
        <identifiers>
          <isin value="US977123T998"/>
        </identifiers>
        <balance>185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>187218.15000000</valUSD>
        <pctVal>3.119643958758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wyandotte County-Kansas City Unified Government</name>
        <lei>N/A</lei>
        <title>Wyandotte County-Kansas City Unified Government, Series 2021A</title>
        <cusip>98267AEX3</cusip>
        <identifiers>
          <isin value="US98267AEX37"/>
        </identifiers>
        <balance>185000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186507.75000000</valUSD>
        <pctVal>3.107806457595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>2026-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Funds</ncom:nameOfApplicant>
      <ncom:signature>Randal Rein</ncom:signature>
      <ncom:signerName>Randal Rein</ncom:signerName>
      <ncom:title>Treasurer and PFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
