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      </invstOrSec>
      <invstOrSec>
        <name>City of Baltimore MD</name>
        <lei>N/A</lei>
        <title>City of Baltimore, Series 2017B</title>
        <cusip>059231J43</cusip>
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          <isin value="US059231J439"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>131500.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Bishop Consolidated Independent School District</name>
        <lei>N/A</lei>
        <title>Bishop Consolidated Independent School District, Series 2025</title>
        <cusip>091482HK8</cusip>
        <identifiers>
          <isin value="US091482HK88"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17460.15000000</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>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Bothell WA</name>
        <lei>N/A</lei>
        <title>City of Bothell, Series 2024C</title>
        <cusip>101295JK0</cusip>
        <identifiers>
          <isin value="US101295JK07"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46927.60000000</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>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Brownsville TX</name>
        <lei>N/A</lei>
        <title>City of Brownsville, Series 2023</title>
        <cusip>116405YL9</cusip>
        <identifiers>
          <isin value="US116405YL93"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67655.40000000</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>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Brown County Water Authority</name>
        <lei>N/A</lei>
        <title>Central Brown County Water Authority, Series 2024A</title>
        <cusip>152708DB6</cusip>
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          <isin value="US152708DB65"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23121.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Florida Tourism Oversight District</name>
        <lei>549300DLSKH6SZ96KV94</lei>
        <title>Central Florida Tourism Oversight District, Series 2024A</title>
        <cusip>153480AG3</cusip>
        <identifiers>
          <isin value="US153480AG32"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56085.50000000</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>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Metropolitan Water Reclamation District of Greater Chicago</name>
        <lei>254900GOGQEZEWCZ4D37</lei>
        <title>Metropolitan Water Reclamation District of Greater Chicago, Series 2007B</title>
        <cusip>167560MS7</cusip>
        <identifiers>
          <isin value="US167560MS78"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24041.60000000</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>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Chicago IL Wastewater Transmission Revenue</name>
        <lei>N/A</lei>
        <title>City of Chicago, Series 2024B</title>
        <cusip>167727K88</cusip>
        <identifiers>
          <isin value="US167727K888"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45771.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Clark NV</name>
        <lei>549300LDD8NZB2EOVG83</lei>
        <title>County of Clark, Series 2025</title>
        <cusip>181000UW8</cusip>
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          <isin value="US181000UW89"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23446.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clark County School District</name>
        <lei>N/A</lei>
        <title>Clark County School District, Series 2019A</title>
        <cusip>181059F76</cusip>
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          <isin value="US181059F763"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118983.60000000</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>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Comanche Independent School District</name>
        <lei>N/A</lei>
        <title>Comanche Independent School District, Series 2024</title>
        <cusip>200057KG1</cusip>
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          <isin value="US200057KG16"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46375.60000000</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>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dallas Fort Worth International Airport</name>
        <lei>N/A</lei>
        <title>Dallas Fort Worth International Airport, Series 2023B</title>
        <cusip>23503CCN5</cusip>
        <identifiers>
          <isin value="US23503CCN56"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>133302.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Dallas Independent School District</name>
        <lei>N/A</lei>
        <title>Dallas Independent School District, Series 2025B</title>
        <cusip>235308R88</cusip>
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          <isin value="US235308R880"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>63259.90000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</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>
        <cusip>246381SD0</cusip>
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          <isin value="US246381SD03"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80663.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</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 2025</title>
        <cusip>246381UQ8</cusip>
        <identifiers>
          <isin value="US246381UQ87"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29472.75000000</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>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2023B</title>
        <cusip>25476FB31</cusip>
        <identifiers>
          <isin value="US25476FB315"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>135366.25000000</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>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2024C</title>
        <cusip>25476FJ58</cusip>
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          <isin value="US25476FJ581"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23628.40000000</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>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Douglas County School District No. 17/NE</name>
        <lei>N/A</lei>
        <title>Douglas County School District No. 17, Series 2024</title>
        <cusip>259327X33</cusip>
        <identifiers>
          <isin value="US259327X335"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46427.20000000</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>2034-06-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Dutchess NY</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>El Paso Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US283770NM33"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Florida</name>
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          <isin value="US34115PCF09"/>
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          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Florida</name>
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          <isin value="US34153QVA11"/>
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        <curCd>USD</curCd>
        <valUSD>39581.15000000</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>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Florida</name>
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          <isin value="US34153QXF89"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47131.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</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>
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        <title>State of Florida, Series 2025A</title>
        <cusip>343137WF8</cusip>
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          <isin value="US343137WF80"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29214.50000000</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>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Georgia State Road &amp; Tollway Authority</name>
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          <isin value="US37358MDU27"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90942.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Glendale CA Electric Revenue</name>
        <lei>N/A</lei>
        <title>City of Glendale, Series 2024-2</title>
        <cusip>378406RB0</cusip>
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          <isin value="US378406RB08"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64265.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grapevine-Colleyville Independent School District</name>
        <lei>N/A</lei>
        <title>Grapevine-Colleyville Independent School District, Series 2025</title>
        <cusip>3886406J8</cusip>
        <identifiers>
          <isin value="US3886406J89"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84962.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grosse Ile Township School District/MI</name>
        <lei>N/A</lei>
        <title>Grosse Ile Township School District, Series 2025II</title>
        <cusip>398892KT5</cusip>
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          <isin value="US398892KT53"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11652.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Indiana Municipal Power Agency</name>
        <lei>AX0ZCCVOQ71Z4RXBL233</lei>
        <title>Indiana Municipal Power Agency, Series 2025A</title>
        <cusip>454898YM3</cusip>
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          <isin value="US454898YM34"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17445.45000000</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>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Inland Lakes Schools</name>
        <lei>N/A</lei>
        <title>Inland Lakes Schools, Series 2024</title>
        <cusip>457380DS9</cusip>
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          <isin value="US457380DS98"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84023.25000000</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>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Jacksonville Transportation Authority</name>
        <lei>N/A</lei>
        <title>Jacksonville Transportation Authority, Series 2024</title>
        <cusip>469494BS6</cusip>
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          <isin value="US469494BS64"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62622.45000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>King County School District No. 405 Bellevue</name>
        <lei>N/A</lei>
        <title>King County School District No. 405 Bellevue, Series 2021B</title>
        <cusip>495098D28</cusip>
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          <isin value="US495098D288"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>150052.00000000</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>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>King County School District No. 410 Snoqualmie Valley</name>
        <lei>N/A</lei>
        <title>King County School District No. 410 Snoqualmie Valley, Series 2025</title>
        <cusip>495206RN6</cusip>
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          <isin value="US495206RN65"/>
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        <balance>55000.00000000</balance>
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        <valUSD>63440.85000000</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>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>King County School District No. 410 Snoqualmie Valley</name>
        <lei>N/A</lei>
        <title>King County School District No. 410 Snoqualmie Valley, Series 2025</title>
        <cusip>495206RQ9</cusip>
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          <isin value="US495206RQ96"/>
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        <balance>40000.00000000</balance>
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        <valUSD>47169.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lake County Community Consolidated School District No. 34 Antioch</name>
        <lei>N/A</lei>
        <title>Lake County Community Consolidated School District No. 34 Antioch, Series 2025C</title>
        <cusip>508516FZ9</cusip>
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          <isin value="US508516FZ94"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23091.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lake County School District No. 112 North Shore</name>
        <lei>N/A</lei>
        <title>Lake County School District No. 112 North Shore, Series 2024</title>
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        <name>Las Vegas Valley Water District</name>
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        <name>Linden Community School District</name>
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        <name>MSD Warren Township Vision 2005 School Building Corp.</name>
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        <name>Commonwealth of Massachusetts</name>
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        <name>Massachusetts Health &amp; Educational Facilities Authority</name>
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        <name>State of Michigan Trunk Line Revenue</name>
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        <name>Michigan State University</name>
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        <name>New Jersey Transportation Trust Fund Authority</name>
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        <name>New Mexico Finance Authority</name>
        <lei>549300L6217Y7X40SP94</lei>
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        <name>New Mexico Finance Authority</name>
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      <invstOrSec>
        <name>Borough of North Slope AK</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Oakland MI</name>
        <lei>549300ODIQ70W6TDGU58</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Ohio</name>
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          <isin value="US677523ET55"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>State of Ohio</name>
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          <isin value="US67759HQX51"/>
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        <curCd>USD</curCd>
        <valUSD>17571.45000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
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          <isin value="US67760AFD37"/>
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        <curCd>USD</curCd>
        <valUSD>109514.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Omaha NE</name>
        <lei>N/A</lei>
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          <isin value="US681713AJ20"/>
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        <curCd>USD</curCd>
        <valUSD>56070.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Omaha Public Power District</name>
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        <title>Omaha Public Power District, Series 2025A</title>
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          <isin value="US682001NV02"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17779.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Peralta Community College District</name>
        <lei>254900VWMA3IHACOBO19</lei>
        <title>Peralta Community College District, Series 2025</title>
        <cusip>713575ZM3</cusip>
        <identifiers>
          <isin value="US713575ZM32"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12225.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Port St Lucie FL</name>
        <lei>N/A</lei>
        <title>City of Port St. Lucie, Series 2023</title>
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          <isin value="US73536AEK97"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40929.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Racine WI</name>
        <lei>N/A</lei>
        <title>County of Racine, Series 2025A</title>
        <cusip>749845M67</cusip>
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          <isin value="US749845M675"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121065.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Redford Union School District No. 1</name>
        <lei>N/A</lei>
        <title>Redford Union School District No. 1, Series 2023II</title>
        <cusip>757402MK5</cusip>
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          <isin value="US757402MK50"/>
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        <balance>55000.00000000</balance>
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        <valUSD>61617.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Sachse TX</name>
        <lei>N/A</lei>
        <title>City of Sachse, Series 2024</title>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56319.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of St Johns FL</name>
        <lei>N/A</lei>
        <title>County of St. Johns, Series 2025</title>
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          <isin value="US790415CD32"/>
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        <balance>10000.00000000</balance>
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        <valUSD>11765.70000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Saline Area Schools</name>
        <lei>549300COVKKGR0VUE860</lei>
        <title>Saline Area Schools, Series II</title>
        <cusip>795200MC5</cusip>
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          <isin value="US795200MC54"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23304.80000000</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>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Sun Prairie WI</name>
        <lei>N/A</lei>
        <title>City of Sun Prairie, Series 2025A</title>
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          <isin value="US866849W400"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120527.00000000</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>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Tallahassee FL</name>
        <lei>549300MPY4HDPK8B1G15</lei>
        <title>City of Tallahassee, Series 2025</title>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>122630.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Tallahassee FL</name>
        <lei>549300MPY4HDPK8B1G15</lei>
        <title>City of Tallahassee, Series 2025</title>
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        <balance>10000.00000000</balance>
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        <valUSD>11719.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Three Rivers Community Schools</name>
        <lei>N/A</lei>
        <title>Three Rivers Community Schools, Series 2023II</title>
        <cusip>88567AHW0</cusip>
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          <isin value="US88567AHW09"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79457.70000000</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>2032-05-01</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>City of Tuscaloosa AL</name>
        <lei>N/A</lei>
        <title>City of Tuscaloosa, Series 2025B</title>
        <cusip>9005772P1</cusip>
        <identifiers>
          <isin value="US9005772P13"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23403.40000000</valUSD>
        <pctVal>0.463163472139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</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>County of Union NC</name>
        <lei>5493007ESG9QHLUW6165</lei>
        <title>County of Union, Series 2025B</title>
        <cusip>9063956F0</cusip>
        <identifiers>
          <isin value="US9063956F04"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23839.20000000</valUSD>
        <pctVal>0.471788143818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>University of Washington</name>
        <lei>T8YS5W0N70BYCTHPA429</lei>
        <title>University of Washington, Series 2024A</title>
        <cusip>91523NYG5</cusip>
        <identifiers>
          <isin value="US91523NYG59"/>
        </identifiers>
        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46634.00000000</valUSD>
        <pctVal>0.922907157069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</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>Utah Telecommunication Open Infrastructure Agency</name>
        <lei>549300LCGT5UXUJ1LP77</lei>
        <title>Utah Telecommunication Open Infrastructure Agency, Series 2022</title>
        <cusip>91756SAK9</cusip>
        <identifiers>
          <isin value="US91756SAK96"/>
        </identifiers>
        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62385.40000000</valUSD>
        <pctVal>1.234634218738</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</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 Waco TX</name>
        <lei>N/A</lei>
        <title>City of Waco, Series 2025</title>
        <cusip>929831B61</cusip>
        <identifiers>
          <isin value="US929831B613"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23321.80000000</valUSD>
        <pctVal>0.461548572624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</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>Washington Metropolitan Area Transit Authority Dedicated Revenue</name>
        <lei>N/A</lei>
        <title>Washington Metropolitan Area Transit Authority, Series 2023A</title>
        <cusip>93878YDC0</cusip>
        <identifiers>
          <isin value="US93878YDC03"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56836.50000000</valUSD>
        <pctVal>1.124819072625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Series 2025D</title>
        <cusip>93974FAL7</cusip>
        <identifiers>
          <isin value="US93974FAL76"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11801.50000000</valUSD>
        <pctVal>0.233556821507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</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 2026B</title>
        <cusip>93974FCN1</cusip>
        <identifiers>
          <isin value="US93974FCN15"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46769.20000000</valUSD>
        <pctVal>0.925582823914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</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>Washington State University</name>
        <lei>N/A</lei>
        <title>Washington State University, Series 2025</title>
        <cusip>940094FQ3</cusip>
        <identifiers>
          <isin value="US940094FQ33"/>
        </identifiers>
        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17510.55000000</valUSD>
        <pctVal>0.346541405824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Whitnall School District</name>
        <lei>N/A</lei>
        <title>Whitnall School District, Series 2024</title>
        <cusip>966586HD4</cusip>
        <identifiers>
          <isin value="US966586HD44"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55731.00000000</valUSD>
        <pctVal>1.102940746465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</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>Wichita Falls Independent School District</name>
        <lei>N/A</lei>
        <title>Wichita Falls Independent School District, Series 2025</title>
        <cusip>967171SS9</cusip>
        <identifiers>
          <isin value="US967171SS92"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11678.30000000</valUSD>
        <pctVal>0.231118639885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</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>
    </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>
