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        <name>Utah Water Finance Agency</name>
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      <invstOrSec>
        <name>Grant County Public Utility District No. 2 Priest Rapids Hydroelectric Project</name>
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          <isin value="US387883ZV64"/>
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        <name>State of Delaware</name>
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          <maturityDt>2029-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Winston-Salem NC</name>
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          <isin value="US975680FR53"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Idaho Energy Resources Authority</name>
        <lei>N/A</lei>
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          <isin value="US451175AD58"/>
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        <name>State of North Carolina</name>
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          <isin value="US65829QDJ04"/>
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          <maturityDt>2027-05-01</maturityDt>
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      <invstOrSec>
        <name>City of Toledo OH Water System Revenue</name>
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          <isin value="US889396RR08"/>
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      <invstOrSec>
        <name>Clark County Public Utility District No. 1 Electric Revenue</name>
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          <isin value="US181108E720"/>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Lawrence KS</name>
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        <name>Jackson County School District/GA</name>
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        <name>Eastside Utility District of Hamilton &amp; Bradley Counties TN</name>
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          <isin value="US277807FE81"/>
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        <name>City of Memphis TN Sanitary Sewerage System Revenue</name>
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        <name>Galveston Independent School District</name>
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        <name>Vermont Municipal Bond Bank</name>
        <lei>54930081EMY8D1GYM846</lei>
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        <name>Waukee Community School District</name>
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        <name>Gateway Technical College District</name>
        <lei>N/A</lei>
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          <isin value="US3678146V71"/>
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        <name>Fargo Park District</name>
        <lei>N/A</lei>
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          <isin value="US307489XY51"/>
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        <balance>25000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-05-01</maturityDt>
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      <invstOrSec>
        <name>City of Orange Beach AL</name>
        <lei>54930098BJOHYFZHRG83</lei>
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          <isin value="US68406PKK65"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
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      <invstOrSec>
        <name>City of Bettendorf IA</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Barbers Hill Independent School District</name>
        <lei>N/A</lei>
        <title>Barbers Hill Independent School District, Series 2020</title>
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      <invstOrSec>
        <name>Nashwauk Keewatin Independent School District No. 319</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wyandotte County-Kansas City Unified Government</name>
        <lei>N/A</lei>
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          <isin value="US98267AEX37"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Pennsylvania Turnpike Commission</name>
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          <isin value="US7092247L71"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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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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        <valUSD>35860.81000000</valUSD>
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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>Chicago O'Hare International Airport</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport, Series 2024F</title>
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          <isin value="US1675937S51"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Des Moines IA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <cusip>93974EPJ9</cusip>
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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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        <name>University of South Carolina</name>
        <lei>N/A</lei>
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        <cusip>913367FX1</cusip>
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        <name>Las Vegas Valley Water District</name>
        <lei>N/A</lei>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>County of Broward FL Tourist Development Tax Revenue</name>
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        <name>New Caney Independent School District</name>
        <lei>N/A</lei>
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        <name>New Hampshire Municipal Bond Bank</name>
        <lei>N/A</lei>
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          <maturityDt>2030-02-15</maturityDt>
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        <name>County of Berkeley SC Combined Utility System Revenue</name>
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          <isin value="US084213CB10"/>
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        <name>Mitchell School District No. 17-2</name>
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          <isin value="US606687KB66"/>
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      <invstOrSec>
        <name>City of Olive Branch MS</name>
        <lei>N/A</lei>
        <title>City of Olive Branch, Series 2024</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Chicago IL Waterworks Revenue</name>
        <lei>N/A</lei>
        <title>City of Chicago, Series 2024A</title>
        <cusip>167736X77</cusip>
        <identifiers>
          <isin value="US167736X775"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55743.91000000</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>2026-11-01</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>City of Coral Gables FL</name>
        <lei>N/A</lei>
        <title>City of Coral Gables, Series 2021B</title>
        <cusip>217813BB9</cusip>
        <identifiers>
          <isin value="US217813BB94"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37442.55000000</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>2029-04-01</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>Canyons School District</name>
        <lei>N/A</lei>
        <title>Canyons School District, Series 2021B</title>
        <cusip>139078GM5</cusip>
        <identifiers>
          <isin value="US139078GM50"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80616.26000000</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>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <cusip>93974EEC6</cusip>
        <identifiers>
          <isin value="US93974EEC66"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48887.60000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <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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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Milwaukee Metropolitan Sewerage District</name>
        <lei>N/A</lei>
        <title>Milwaukee Metropolitan Sewerage District, Series 2020D</title>
        <cusip>602409MA9</cusip>
        <identifiers>
          <isin value="US602409MA95"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26377.49000000</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>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Fort Myers FL Utility System Revenue</name>
        <lei>N/A</lei>
        <title>City of Fort Myers, Series 2020B</title>
        <cusip>348172VA2</cusip>
        <identifiers>
          <isin value="US348172VA24"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>46635.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>
        <identifiers>
          <isin value="US155796BC88"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58664.25000000</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>2029-03-01</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>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Series 2021A</title>
        <cusip>45506EBP7</cusip>
        <identifiers>
          <isin value="US45506EBP79"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62699.00000000</valUSD>
        <pctVal>0.895564437131</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Idaho Housing &amp; Finance Association</name>
        <lei>5493002WM3NYB1LQB744</lei>
        <title>Idaho Housing &amp; Finance Association, Series 2021A</title>
        <cusip>45129WPY0</cusip>
        <identifiers>
          <isin value="US45129WPY02"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21671.34000000</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>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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>
        <identifiers>
          <isin value="US228485LT39"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89457.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>159154.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Auburn ME</name>
        <lei>N/A</lei>
        <title>City of Auburn, Series 2021</title>
        <cusip>050375UK8</cusip>
        <identifiers>
          <isin value="US050375UK87"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77666.97000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rhode Island Infrastructure Bank</name>
        <lei>54930022Z6KOPRSQCG49</lei>
        <title>Rhode Island Infrastructure Bank, Series 2019A</title>
        <cusip>76223LAJ3</cusip>
        <identifiers>
          <isin value="US76223LAJ35"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36251.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</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>City of North Charleston SC</name>
        <lei>549300Y9QXZ4L5X8SP87</lei>
        <title>City of North Charleston, Series 2022</title>
        <cusip>65857PDW8</cusip>
        <identifiers>
          <isin value="US65857PDW86"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32796.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Nicolet Union High School District</name>
        <lei>N/A</lei>
        <title>Nicolet Union High School District, Series 2022</title>
        <cusip>654064GZ1</cusip>
        <identifiers>
          <isin value="US654064GZ18"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27138.74000000</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>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <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>
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        <curCd>USD</curCd>
        <valUSD>95098.19000000</valUSD>
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        <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>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Lake County Township High School District No. 113-Highland Park</name>
        <lei>N/A</lei>
        <title>Lake County Township High School District No. 113, Series 2025</title>
        <cusip>509084KQ1</cusip>
        <identifiers>
          <isin value="US509084KQ15"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26988.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Wenatchee WA Water &amp; Sewer Revenue</name>
        <lei>N/A</lei>
        <title>City of Wenatchee, Series 2018</title>
        <cusip>950511KY0</cusip>
        <identifiers>
          <isin value="US950511KY06"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25967.79000000</valUSD>
        <pctVal>0.370912283049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>County of Milwaukee WI Airport Revenue</name>
        <lei>N/A</lei>
        <title>County of Milwaukee, Series 2019A</title>
        <cusip>602248LG9</cusip>
        <identifiers>
          <isin value="US602248LG95"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43165.36000000</valUSD>
        <pctVal>0.616554671238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</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>Jordan Basin Improvement District</name>
        <lei>N/A</lei>
        <title>Jordan Basin Improvement District, Series 2022</title>
        <cusip>84059QEC6</cusip>
        <identifiers>
          <isin value="US84059QEC69"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37267.91000000</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>2029-01-01</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>City of South Jordan UT Water Revenue</name>
        <lei>N/A</lei>
        <title>City of South Jordan, Series 2025</title>
        <cusip>83854PCN5</cusip>
        <identifiers>
          <isin value="US83854PCN50"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10968.48000000</valUSD>
        <pctVal>0.156668856239</pctVal>
        <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>
          <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>Idaho Energy Resources Authority</name>
        <lei>N/A</lei>
        <title>Idaho Energy Resources Authority, Series 2021</title>
        <cusip>451174AP1</cusip>
        <identifiers>
          <isin value="US451174AP14"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32262.66000000</valUSD>
        <pctVal>0.460825387059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</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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      </invstOrSec>
      <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>
        <cusip>467486YA8</cusip>
        <identifiers>
          <isin value="US467486YA87"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>53284.72000000</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>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <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>
        <identifiers>
          <isin value="US343137HK41"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75277.55000000</valUSD>
        <pctVal>1.075230812204</pctVal>
        <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>
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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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25716.71000000</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>
      <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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38059.51000000</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>2030-02-15</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>
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      </invstOrSec>
      <invstOrSec>
        <name>State of Wisconsin</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>State of Wisconsin, Series 2020B</title>
        <cusip>97705MTT2</cusip>
        <identifiers>
          <isin value="US97705MTT26"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64342.02000000</valUSD>
        <pctVal>0.919032599008</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Kingsport TN</name>
        <lei>549300CNSHTU7LSLB359</lei>
        <title>City of Kingsport, Series 2023</title>
        <cusip>496443YP1</cusip>
        <identifiers>
          <isin value="US496443YP16"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26158.54000000</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>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
        <title>Kentucky State Property &amp; Building Commission, Series 2025A</title>
        <cusip>49151F4Q0</cusip>
        <identifiers>
          <isin value="US49151F4Q00"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42695.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kearns Improvement District</name>
        <lei>N/A</lei>
        <title>Kearns Improvement District, Series 2021</title>
        <cusip>487134BQ0</cusip>
        <identifiers>
          <isin value="US487134BQ07"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56403.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-01</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>WPPI Energy</name>
        <lei>5493000UBF6PCV5RXZ13</lei>
        <title>WPPI Energy, Series 2024A</title>
        <cusip>92937NDC5</cusip>
        <identifiers>
          <isin value="US92937NDC56"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>87595.19000000</valUSD>
        <pctVal>1.251170465682</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sheboygan Area School District</name>
        <lei>N/A</lei>
        <title>Sheboygan Area School District</title>
        <cusip>821023PE2</cusip>
        <identifiers>
          <isin value="US821023PE25"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>43375.46000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <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>43924.57000000</valUSD>
        <pctVal>0.627398886877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Indiana Finance Authority</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority, Series 2021A</title>
        <cusip>45506EBR3</cusip>
        <identifiers>
          <isin value="US45506EBR36"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21711.83000000</valUSD>
        <pctVal>0.310122056381</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>North Davis County Sewer District</name>
        <lei>N/A</lei>
        <title>North Davis County Sewer District, Series 2024</title>
        <cusip>659079EM5</cusip>
        <identifiers>
          <isin value="US659079EM58"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80171.11000000</valUSD>
        <pctVal>1.145128231732</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>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Georgia Ports Authority</name>
        <lei>N/A</lei>
        <title>Georgia Ports Authority, Series 2021</title>
        <cusip>373586GA8</cusip>
        <identifiers>
          <isin value="US373586GA88"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31609.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</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>
        </securityLending>
      </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>38105.75000000</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canyons School District</name>
        <lei>N/A</lei>
        <title>Canyons School District, Series 2022</title>
        <cusip>139078GT0</cusip>
        <identifiers>
          <isin value="US139078GT04"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27348.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</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>Northeast Wisconsin Technical College District/WI</name>
        <lei>N/A</lei>
        <title>Northeast Wisconsin Technical College District, Series 2025A</title>
        <cusip>66440AVE3</cusip>
        <identifiers>
          <isin value="US66440AVE36"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26166.68000000</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>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26642.25000000</valUSD>
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        <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>City of Seattle WA</name>
        <lei>N/A</lei>
        <title>City of Seattle, Series 2025</title>
        <cusip>812627RU3</cusip>
        <identifiers>
          <isin value="US812627RU30"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64446.47000000</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>2029-06-01</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>Barron Area School District</name>
        <lei>N/A</lei>
        <title>Barron Area School District, Series 2021</title>
        <cusip>068715FP1</cusip>
        <identifiers>
          <isin value="US068715FP17"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26519.46000000</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>2029-03-01</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>46385.19000000</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>2027-07-01</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>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>43708.94000000</valUSD>
        <pctVal>0.624318924523</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>
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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>
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        <curCd>USD</curCd>
        <valUSD>182372.09000000</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>Madison Water &amp; Wastewater Board</name>
        <lei>N/A</lei>
        <title>Madison Water &amp; Wastewater Board, Series 2020</title>
        <cusip>556589HP7</cusip>
        <identifiers>
          <isin value="US556589HP79"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35576.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Nevada 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>196158.63000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Town of Smyrna TN</name>
        <lei>549300XZ1PE2F5Y7QL71</lei>
        <title>Town of Smyrna, Series 2019</title>
        <cusip>832832MF3</cusip>
        <identifiers>
          <isin value="US832832MF33"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26227.14000000</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>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>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>
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        <curCd>USD</curCd>
        <valUSD>63698.78000000</valUSD>
        <pctVal>0.909844846914</pctVal>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Idaho Housing &amp; Finance Association</name>
        <lei>5493002WM3NYB1LQB744</lei>
        <title>Idaho Housing &amp; Finance Association, Series 2017A</title>
        <cusip>45129WNV8</cusip>
        <identifiers>
          <isin value="US45129WNV80"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36097.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of St George UT Wastewater Treatment Revenue</name>
        <lei>N/A</lei>
        <title>City of St. George, Series 2020</title>
        <cusip>789565AJ7</cusip>
        <identifiers>
          <isin value="US789565AJ79"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26634.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>North Texas Municipal Water District</name>
        <lei>N/A</lei>
        <title>North Texas Municipal Water District, Series 2018</title>
        <cusip>662835ZL4</cusip>
        <identifiers>
          <isin value="US662835ZL46"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36754.31000000</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>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Maine Municipal Bond Bank</name>
        <lei>N/A</lei>
        <title>Maine Municipal Bond Bank, Series D</title>
        <cusip>56045RZN2</cusip>
        <identifiers>
          <isin value="US56045RZN24"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40580.72000000</valUSD>
        <pctVal>0.579636830973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Goose Creek Consolidated Independent School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fort Worth Independent School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mississippi Development Bank</name>
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          <isin value="US60534W7H53"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Atlanta GA Department of Aviation</name>
        <lei>N/A</lei>
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          <isin value="US04780MYR41"/>
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        <curCd>USD</curCd>
        <valUSD>37603.65000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Maury TN</name>
        <lei>N/A</lei>
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          <isin value="US577625T632"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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          <isin value="US677587DS35"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Delaware</name>
        <lei>N/A</lei>
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        <cusip>246381TF4</cusip>
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          <isin value="US246381TF42"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38238.19000000</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>Idaho Housing &amp; Finance Association</name>
        <lei>5493002WM3NYB1LQB744</lei>
        <title>Idaho Housing &amp; Finance Association, Series 2023A</title>
        <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>80841.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <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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      <invstOrSec>
        <name>City of Camas WA Water &amp; Sewer Revenue</name>
        <lei>N/A</lei>
        <title>City of Camas, Series 2025</title>
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          <isin value="US131879HA93"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30446.54000000</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>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Savannah Valley Utility District</name>
        <lei>N/A</lei>
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        <cusip>805091CU7</cusip>
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          <isin value="US805091CU79"/>
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        <balance>25000.00000000</balance>
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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>Alaska Municipal Bond Bank Authority</name>
        <lei>N/A</lei>
        <title>Alaska Municipal Bond Bank Authority, Series 2020-1</title>
        <cusip>01179RE90</cusip>
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          <isin value="US01179RE908"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27442.61000000</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>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hallsdale-Powell Utility District</name>
        <lei>N/A</lei>
        <title>Hallsdale-Powell Utility District, Series 2022A</title>
        <cusip>406313PU4</cusip>
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          <isin value="US406313PU40"/>
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        <balance>15000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Elkhorn School District</name>
        <lei>N/A</lei>
        <title>Douglas County School District No. 10, 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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        <curCd>USD</curCd>
        <valUSD>20181.32000000</valUSD>
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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>City of Topeka KS Combined Utility Revenue</name>
        <lei>N/A</lei>
        <title>City of Topeka, Series 2023A</title>
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          <isin value="US890680VU26"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-01</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>
        <title>Granite School Disctrict, Series 2020</title>
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          <isin value="US387460QM34"/>
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        <balance>25000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>King County School District No. 411 Issaquah</name>
        <lei>N/A</lei>
        <title>King County School District No. 411 Issaquah, Series 2024</title>
        <cusip>4952246G7</cusip>
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          <isin value="US4952246G77"/>
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        <balance>40000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-12-01</maturityDt>
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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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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Port of Tacoma WA</name>
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        <name>Chelan County Public Utility District No. 1</name>
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        <name>City of Arlington TX Water &amp; Wastewater System Revenue</name>
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        <name>City of Gallatin TN Gas System Revenue</name>
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        <name>State of Washington</name>
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          <isin value="US93974EK211"/>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Sweetwater County 2023 Specific Purpose Tax Joint Powers Board</name>
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          <isin value="US87048HAD52"/>
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        <name>Avon Redevelopment Authority</name>
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          <maturityDt>2030-02-01</maturityDt>
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        <name>Tomball Independent School District</name>
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        <name>County of Baltimore MD</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Hennepin MN</name>
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        <name>Idaho Energy Resources Authority</name>
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        <name>Municipality of Anchorage AK Solid Waste Services Revenue</name>
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          <isin value="US033262AD82"/>
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        <name>Clark County Public Utility District No. 1 Electric Revenue</name>
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          <isin value="US181108C583"/>
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        <name>Municipal Electric Authority of Georgia</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
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          <maturityDt>2030-01-01</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 2021LL</title>
        <cusip>499746N50</cusip>
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          <isin value="US499746N501"/>
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      <invstOrSec>
        <name>City of Houston TX Combined Utility System Revenue</name>
        <lei>N/A</lei>
        <title>City of Houston, Series 2016B</title>
        <cusip>44244CGJ0</cusip>
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          <isin value="US44244CGJ09"/>
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          <maturityDt>2026-11-15</maturityDt>
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        <name>City of Manchester NH</name>
        <lei>N/A</lei>
        <title>City of Manchester, Series 2020C</title>
        <cusip>562333NY6</cusip>
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          <isin value="US562333NY69"/>
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        <balance>35000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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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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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Wisconsin Department of Transportation</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Borough of North Slope AK</name>
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        <name>State of Ohio</name>
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          <maturityDt>2027-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Otsego Public Schools</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Hamilton OH Sales Tax Revenue</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Shawnee KS</name>
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          <couponKind>Fixed</couponKind>
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        <name>State of Washington</name>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Milwaukee Area Technical College District</name>
        <lei>54930048I544G4TM9P14</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Canyon Independent School District</name>
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        <title>Canyon Independent School District, Series 2020</title>
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        <invCountry>US</invCountry>
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        <name>City of Seattle WA Drainage &amp; Wastewater Revenue</name>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-04-30</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>
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  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
