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      </invstOrSec>
      <invstOrSec>
        <name>Georgia State Road &amp; Tollway Authority</name>
        <lei>N/A</lei>
        <title>Georgia State Road &amp; Tollway Authority, Series 2017A</title>
        <cusip>37358MDU2</cusip>
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          <isin value="US37358MDU27"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90384.84000000</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>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>County of Howard MD</name>
        <lei>N/A</lei>
        <title>County of Howard, Series 2026C</title>
        <cusip>44256QCL3</cusip>
        <identifiers>
          <isin value="US44256QCL32"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40261.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</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>Florida Department of Management Services</name>
        <lei>N/A</lei>
        <title>Florida Department of Management Services, Series 2018A</title>
        <cusip>34160PEA3</cusip>
        <identifiers>
          <isin value="US34160PEA30"/>
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        <balance>65000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65932.28000000</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>2026-11-01</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>City of Amarillo TX Waterworks &amp; Sewer System Revenue</name>
        <lei>N/A</lei>
        <title>City of Amarillo, Series 2026</title>
        <cusip>023108TW3</cusip>
        <identifiers>
          <isin value="US023108TW38"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39425.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</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>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Series 2020A</title>
        <cusip>67760AFD3</cusip>
        <identifiers>
          <isin value="US67760AFD37"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108167.81000000</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>2029-12-01</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>
        <name>City of Laredo TX</name>
        <lei>N/A</lei>
        <title>City of Laredo, Series 2025</title>
        <cusip>516824SS9</cusip>
        <identifiers>
          <isin value="US516824SS98"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11341.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Manatee County School District</name>
        <lei>N/A</lei>
        <title>Manatee County School District, Series 2025A</title>
        <cusip>56185NGV4</cusip>
        <identifiers>
          <isin value="US56185NGV47"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22721.54000000</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>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clark County School District</name>
        <lei>N/A</lei>
        <title>Clark County School District, Series 2019A</title>
        <cusip>181059F76</cusip>
        <identifiers>
          <isin value="US181059F763"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118392.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Longview Independent School District</name>
        <lei>N/A</lei>
        <title>Longview Independent School District, Series 2025</title>
        <cusip>543264ZU2</cusip>
        <identifiers>
          <isin value="US543264ZU21"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11387.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of Florida</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
        <title>State of Florida, Series 2023A</title>
        <cusip>34153QXF8</cusip>
        <identifiers>
          <isin value="US34153QXF89"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45631.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Series 2026B</title>
        <cusip>93974FCN1</cusip>
        <identifiers>
          <isin value="US93974FCN15"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45544.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>McGregor Independent School District</name>
        <lei>N/A</lei>
        <title>McGregor Independent School District, Series 2024</title>
        <cusip>580730MD8</cusip>
        <identifiers>
          <isin value="US580730MD82"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50890.52000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Montgomery Independent School District</name>
        <lei>N/A</lei>
        <title>Montgomery Independent School District, Series 2015A</title>
        <cusip>614121VQ1</cusip>
        <identifiers>
          <isin value="US614121VQ15"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51100.53000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>King County School District No. 405 Bellevue</name>
        <lei>N/A</lei>
        <title>King County School District No. 405 Bellevue, Series 2021B</title>
        <cusip>495098D28</cusip>
        <identifiers>
          <isin value="US495098D288"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148784.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Austin TX</name>
        <lei>IW10PQVTU7HKS3JMW253</lei>
        <title>City of Austin, Series 2024</title>
        <cusip>052397T48</cusip>
        <identifiers>
          <isin value="US052397T483"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55441.23000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Allegan Public School District</name>
        <lei>N/A</lei>
        <title>Allegan Public School District, Series 2025III</title>
        <cusip>017014NQ0</cusip>
        <identifiers>
          <isin value="US017014NQ03"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22660.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Livonia Public Schools</name>
        <lei>N/A</lei>
        <title>Livonia Public Schools, Series 2025III</title>
        <cusip>539243XE0</cusip>
        <identifiers>
          <isin value="US539243XE01"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11288.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>County of Racine WI</name>
        <lei>N/A</lei>
        <title>County of Racine, Series 2025A</title>
        <cusip>749845M67</cusip>
        <identifiers>
          <isin value="US749845M675"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120590.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Chippewa Valley Schools</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Graford Independent School District</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Centerville Independent School District</name>
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      <invstOrSec>
        <name>Richland County School District No. 2/SC</name>
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          <isin value="US763682Q872"/>
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      <invstOrSec>
        <name>Lewisville Independent School District</name>
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          <isin value="US52882PFP80"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Richland WA Electric Revenue</name>
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          <isin value="US764267CR97"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Peralta Community College District</name>
        <lei>254900VWMA3IHACOBO19</lei>
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          <isin value="US713575ZM32"/>
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        <balance>10000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Whitnall School District</name>
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          <isin value="US966586HD44"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Port St Lucie FL</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Central Florida Tourism Oversight District</name>
        <lei>549300DLSKH6SZ96KV94</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of North Charleston SC</name>
        <lei>549300Y9QXZ4L5X8SP87</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
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      <invstOrSec>
        <name>Grapevine-Colleyville Independent School District</name>
        <lei>N/A</lei>
        <title>Grapevine-Colleyville Independent School District, Series 2025</title>
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          <isin value="US3886406J89"/>
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        <name>Waukee Community School District</name>
        <lei>N/A</lei>
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        <name>Douglas County School District/GA</name>
        <lei>N/A</lei>
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        <name>State of Wisconsin</name>
        <lei>549300VTAT608CNZ5827</lei>
        <title>State of Wisconsin, Series 2023B</title>
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          <maturityDt>2031-05-01</maturityDt>
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        <name>Somerset School District</name>
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          <isin value="US835143FT09"/>
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          <maturityDt>2028-04-01</maturityDt>
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      <invstOrSec>
        <name>City of Rowlett TX</name>
        <lei>549300XN25SMDVQJM820</lei>
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          <maturityDt>2033-02-15</maturityDt>
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      <invstOrSec>
        <name>Warsaw Reorganized School District No. R-IX</name>
        <lei>N/A</lei>
        <title>Warsaw Reorganized School District No. R-IX, Series 2025</title>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Indiana Municipal Power Agency</name>
        <lei>AX0ZCCVOQ71Z4RXBL233</lei>
        <title>Indiana Municipal Power Agency, Series 2025A</title>
        <cusip>454898YM3</cusip>
        <identifiers>
          <isin value="US454898YM34"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16971.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-01</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>
      <invstOrSec>
        <name>City of Tallahassee FL Utility System Revenue</name>
        <lei>N/A</lei>
        <title>City of Tallahassee, Series 2025</title>
        <cusip>874461MN3</cusip>
        <identifiers>
          <isin value="US874461MN33"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82357.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</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>Escambia County School Board</name>
        <lei>N/A</lei>
        <title>Escambia County School Board, Series 2023A</title>
        <cusip>296141DU5</cusip>
        <identifiers>
          <isin value="US296141DU54"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86661.87000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>El Paso Independent School District</name>
        <lei>N/A</lei>
        <title>El Paso Independent School District, Series 2020</title>
        <cusip>283770NM3</cusip>
        <identifiers>
          <isin value="US283770NM33"/>
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        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101858.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clay County School Board</name>
        <lei>N/A</lei>
        <title>Clay County School Board, Series 2024A</title>
        <cusip>183253FK4</cusip>
        <identifiers>
          <isin value="US183253FK41"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33777.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Chamblee GA</name>
        <lei>N/A</lei>
        <title>City of Chamblee, Series 2025</title>
        <cusip>158052AC4</cusip>
        <identifiers>
          <isin value="US158052AC41"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55954.23000000</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>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2023B</title>
        <cusip>25476FB31</cusip>
        <identifiers>
          <isin value="US25476FB315"/>
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        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144868.22000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Village of Wheeling IL</name>
        <lei>N/A</lei>
        <title>Village of Wheeling, Series 2021</title>
        <cusip>963099QK5</cusip>
        <identifiers>
          <isin value="US963099QK58"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50409.88000000</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>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lake County Community Consolidated School District No. 34 Antioch</name>
        <lei>N/A</lei>
        <title>Lake County Community Consolidated School District No. 34 Antioch, Series 2025C</title>
        <cusip>508516FZ9</cusip>
        <identifiers>
          <isin value="US508516FZ94"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22464.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Florida</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
        <title>State of Florida, Series 2021A</title>
        <cusip>34153QUP9</cusip>
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          <isin value="US34153QUP98"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>72048.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia Water &amp; Sewer Authority</name>
        <lei>549300OT2FIJQJ5PSH71</lei>
        <title>District of Columbia, Series 2026A</title>
        <cusip>254845WJ5</cusip>
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          <isin value="US254845WJ54"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40066.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Permanent University Fund - University of Texas System</name>
        <lei>549300GZUEUTLKVGLF98</lei>
        <title>Permanent University Fund - University of Texas System, Series 2025A</title>
        <cusip>915130BY3</cusip>
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          <isin value="US915130BY35"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17146.66000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Series 2024A</title>
        <cusip>93972ADP8</cusip>
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          <isin value="US93972ADP84"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>148429.06000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2024C</title>
        <cusip>25476FJ41</cusip>
        <identifiers>
          <isin value="US25476FJ417"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39920.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Series 2025A</title>
        <cusip>677523KR2</cusip>
        <identifiers>
          <isin value="US677523KR26"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11497.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Brownsville TX</name>
        <lei>N/A</lei>
        <title>City of Brownsville, Series 2025</title>
        <cusip>116405A50</cusip>
        <identifiers>
          <isin value="US116405A504"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11267.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Series 2022A</title>
        <cusip>677523ET5</cusip>
        <identifiers>
          <isin value="US677523ET55"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60386.47000000</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>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Adams &amp; Arapahoe Counties Joint School District 28J Aurora</name>
        <lei>N/A</lei>
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        <cusip>0054824K7</cusip>
        <identifiers>
          <isin value="US0054824K70"/>
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        <curCd>USD</curCd>
        <valUSD>17882.26000000</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>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Kenosha WI</name>
        <lei>N/A</lei>
        <title>City of Kenosha, Series 2024A</title>
        <cusip>489819DC3</cusip>
        <identifiers>
          <isin value="US489819DC33"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15799.01000000</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>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Pasadena TX</name>
        <lei>N/A</lei>
        <title>City of Pasadena, Series 2024</title>
        <cusip>702317EC8</cusip>
        <identifiers>
          <isin value="US702317EC84"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>77658.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
        <title>State of Washington, Series 2026C</title>
        <cusip>93974FEV1</cusip>
        <identifiers>
          <isin value="US93974FEV13"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28567.16000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Omaha Public Power District</name>
        <lei>54930000VJEJ9CGIYG32</lei>
        <title>Omaha Public Power District, Series 2025A</title>
        <cusip>682001NV0</cusip>
        <identifiers>
          <isin value="US682001NV02"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17287.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Tallahassee FL</name>
        <lei>549300MPY4HDPK8B1G15</lei>
        <title>City of Tallahassee, Series 2025</title>
        <cusip>874458MG4</cusip>
        <identifiers>
          <isin value="US874458MG45"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11386.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</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>County of Baltimore MD</name>
        <lei>N/A</lei>
        <title>County of Baltimore, Series 2025</title>
        <cusip>05914GLJ5</cusip>
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          <isin value="US05914GLJ57"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51447.97000000</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>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2023A</title>
        <cusip>25476FZM3</cusip>
        <identifiers>
          <isin value="US25476FZM30"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69190.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Laredo TX</name>
        <lei>N/A</lei>
        <title>City of Laredo, Series 2023</title>
        <cusip>516824PB9</cusip>
        <identifiers>
          <isin value="US516824PB90"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>83942.03000000</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>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Mexico Finance Authority</name>
        <lei>549300L6217Y7X40SP94</lei>
        <title>New Mexico Finance Authority, Series 2024A</title>
        <cusip>64711RMW3</cusip>
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          <isin value="US64711RMW33"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>118420.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Village of Pleasant Prairie WI</name>
        <lei>N/A</lei>
        <title>Village of Pleasant Prairie, Series 2025B</title>
        <cusip>728534YD4</cusip>
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          <isin value="US728534YD40"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26386.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bridge City Independent School District</name>
        <lei>N/A</lei>
        <title>Bridge City Independent School District, Series 2025</title>
        <cusip>108043WG1</cusip>
        <identifiers>
          <isin value="US108043WG14"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30025.32000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <name>State of Florida</name>
        <lei>5493004G5XFOOUT0LQ57</lei>
        <title>State of Florida, Series 2024A</title>
        <cusip>34115PCF0</cusip>
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          <isin value="US34115PCF09"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62550.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Delaware</name>
        <lei>N/A</lei>
        <title>State of Delaware, Series 2025</title>
        <cusip>246381UQ8</cusip>
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          <isin value="US246381UQ87"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28695.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Grosse Ile Township School District/MI</name>
        <lei>N/A</lei>
        <title>Grosse Ile Township School District, Series 2025II</title>
        <cusip>398892KT5</cusip>
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          <isin value="US398892KT53"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11330.05000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Maine Municipal Bond Bank</name>
        <lei>N/A</lei>
        <title>Maine Municipal Bond Bank, Series 2025B</title>
        <cusip>56045SCK1</cusip>
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          <isin value="US56045SCK15"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11494.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia, Series 2024C</title>
        <cusip>25476FJ58</cusip>
        <identifiers>
          <isin value="US25476FJ581"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22887.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Tallahassee FL</name>
        <lei>549300MPY4HDPK8B1G15</lei>
        <title>City of Tallahassee, Series 2025</title>
        <cusip>874458MB5</cusip>
        <identifiers>
          <isin value="US874458MB57"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>120742.57000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>City of Glendale CA Electric Revenue</name>
        <lei>N/A</lei>
        <title>City of Glendale, Series 2024-2</title>
        <cusip>378406RB0</cusip>
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          <isin value="US378406RB08"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62808.53000000</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>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Travis TX</name>
        <lei>549300HEC6MNL5465K30</lei>
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          <isin value="US89454AAK79"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11335.62000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Idaho State Building Authority</name>
        <lei>549300XZ1VJYPPKQZU06</lei>
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        <cusip>451446AU2</cusip>
        <identifiers>
          <isin value="US451446AU27"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84980.03000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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          <isin value="US67759HQX51"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17052.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Clark NV</name>
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          <isin value="US181000UW89"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22793.46000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>School District of Broward County/FL</name>
        <lei>5493006KVNQDJ1D0OD92</lei>
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          <isin value="US115067MQ02"/>
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        <curCd>USD</curCd>
        <valUSD>11507.16000000</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>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lake City Area Schools</name>
        <lei>N/A</lei>
        <title>Lake City Area Schools, Series 2026</title>
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          <isin value="US508030FS74"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33789.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Polk School District</name>
        <lei>N/A</lei>
        <title>Polk School District, Series 2022</title>
        <cusip>731486BX3</cusip>
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          <isin value="US731486BX37"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>62758.65000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Dallas Independent School District</name>
        <lei>N/A</lei>
        <title>Dallas Independent School District, Series 2025B</title>
        <cusip>235308R88</cusip>
        <identifiers>
          <isin value="US235308R880"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61889.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Baltimore MD</name>
        <lei>N/A</lei>
        <title>City of Baltimore, Series 2017B</title>
        <cusip>059231J43</cusip>
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          <isin value="US059231J439"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>130765.51000000</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>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Brownsville TX</name>
        <lei>N/A</lei>
        <title>City of Brownsville, Series 2023</title>
        <cusip>116405YL9</cusip>
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          <isin value="US116405YL93"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66291.58000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Greater Clark Building Corp.</name>
        <lei>N/A</lei>
        <title>Greater Clark Building Corp., Series 2025C</title>
        <cusip>39167GQG9</cusip>
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          <isin value="US39167GQG90"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11130.28000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-01-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Dallas Fort Worth International Airport</name>
        <lei>N/A</lei>
        <title>Dallas Fort Worth International Airport, Series 2023B</title>
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          <isin value="US23503CCN56"/>
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        <balance>125000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ann Arbor School District</name>
        <lei>N/A</lei>
        <title>Ann Arbor School District, Series 2025</title>
        <cusip>035519ZC4</cusip>
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          <isin value="US035519ZC49"/>
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        <balance>10000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Dansville Schools</name>
        <lei>N/A</lei>
        <title>Dansville Schools, Series 2026</title>
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          <isin value="US236388CK89"/>
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        <curCd>USD</curCd>
        <valUSD>67474.60000000</valUSD>
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        <invCountry>US</invCountry>
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          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>County of Douglas NV</name>
        <lei>N/A</lei>
        <title>County of Douglas, Series 2025B</title>
        <cusip>259372MN7</cusip>
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          <isin value="US259372MN76"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11390.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Tallahassee FL Energy System Revenue</name>
        <lei>N/A</lei>
        <title>City of Tallahassee, Series 2024</title>
        <cusip>874476LM4</cusip>
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          <isin value="US874476LM46"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>54927.50000000</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>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Kansas City MO Water Revenue</name>
        <lei>N/A</lei>
        <title>City of Kansas City, Series 2023A</title>
        <cusip>485116B48</cusip>
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        <name>City of Independence MO</name>
        <lei>N/A</lei>
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        <name>Massachusetts Health &amp; Educational Facilities Authority</name>
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        <name>Green Bay Area Public School District</name>
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        <name>Michigan State University</name>
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          <isin value="US594712A439"/>
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        <name>State of Wisconsin</name>
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          <isin value="US97705MSX47"/>
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        <name>Milwaukee Area Technical College District</name>
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        <name>New Mexico Finance Authority</name>
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        <name>County of St Johns FL</name>
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        <name>City of Chicago IL Wastewater Transmission Revenue</name>
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        <name>Lake County School District No. 112 North Shore</name>
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        <name>Metropolitan Water Reclamation District of Greater Chicago</name>
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        <name>State of Michigan Trunk Line Revenue</name>
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        <name>Borough of North Slope AK</name>
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        <name>State of Florida</name>
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        <name>County of Palm Beach FL Airport System Revenue</name>
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        <name>County of Charleston SC</name>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Transit Authority Sales Tax Receipts Fund</name>
        <lei>N/A</lei>
        <title>Chicago Transit Authority, Series 2026B</title>
        <cusip>16772PFJ0</cusip>
        <identifiers>
          <isin value="US16772PFJ03"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16913.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <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 Nevada</name>
        <lei>N/A</lei>
        <title>State of Nevada, Series 2023A</title>
        <cusip>641462SB3</cusip>
        <identifiers>
          <isin value="US641462SB33"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62120.99000000</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>2033-05-01</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>Neenah Joint School District</name>
        <lei>N/A</lei>
        <title>Neenah Joint School District</title>
        <cusip>639905EW4</cusip>
        <identifiers>
          <isin value="US639905EW41"/>
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        <balance>140000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143196.42000000</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>2027-03-01</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 Omaha NE</name>
        <lei>N/A</lei>
        <title>City of Omaha, Series 2022</title>
        <cusip>681713AJ2</cusip>
        <identifiers>
          <isin value="US681713AJ20"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82865.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</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>Central Brown County Water Authority</name>
        <lei>N/A</lei>
        <title>Central Brown County Water Authority, Series 2024A</title>
        <cusip>152708DB6</cusip>
        <identifiers>
          <isin value="US152708DB65"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33901.51000000</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>2035-11-01</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>Madison Area Technical College/WI</name>
        <lei>N/A</lei>
        <title>Madison Area Technical College, Series 2023-24</title>
        <cusip>55844PZC5</cusip>
        <identifiers>
          <isin value="US55844PZC57"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56065.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</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>District of Columbia Income Tax Revenue</name>
        <lei>N/A</lei>
        <title>District of Columbia, Series 2019C</title>
        <cusip>25477GPW9</cusip>
        <identifiers>
          <isin value="US25477GPW95"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75932.08000000</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>Commonwealth of Massachusetts</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>Commonwealth of Massachusetts, Series 2025A</title>
        <cusip>57582TCY6</cusip>
        <identifiers>
          <isin value="US57582TCY64"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62596.92000000</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>2033-07-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inland Lakes Schools</name>
        <lei>N/A</lei>
        <title>Inland Lakes Schools, Series 2024</title>
        <cusip>457380DS9</cusip>
        <identifiers>
          <isin value="US457380DS98"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82545.19000000</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>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>County of Cabarrus NC</name>
        <lei>549300HVGPJDNBDPZV71</lei>
        <title>County of Cabarrus, Series 2024A</title>
        <cusip>12677REC7</cusip>
        <identifiers>
          <isin value="US12677REC79"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28458.55000000</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>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>City of Lubbock TX</name>
        <lei>549300I1QTL3QZV4BX74</lei>
        <title>City of Lubbock, Series 2025</title>
        <cusip>5491887S3</cusip>
        <identifiers>
          <isin value="US5491887S34"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28188.19000000</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>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Alabama Federal Aid Highway Finance Authority</name>
        <lei>N/A</lei>
        <title>Alabama Federal Aid Highway Finance Authority, Series 2025B</title>
        <cusip>010268EB2</cusip>
        <identifiers>
          <isin value="US010268EB25"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85172.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of Delaware</name>
        <lei>N/A</lei>
        <title>State of Delaware, Series 2023A</title>
        <cusip>246381SD0</cusip>
        <identifiers>
          <isin value="US246381SD03"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80165.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Dutchess NY</name>
        <lei>N/A</lei>
        <title>County of Dutchess, Series 2024A</title>
        <cusip>267040KH5</cusip>
        <identifiers>
          <isin value="US267040KH55"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116757.84000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Las Vegas Valley Water District</name>
        <lei>N/A</lei>
        <title>Las Vegas Valley Water District, Series 2021A</title>
        <cusip>517845LF8</cusip>
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          <isin value="US517845LF85"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>161021.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Union NC</name>
        <lei>5493007ESG9QHLUW6165</lei>
        <title>County of Union, Series 2025B</title>
        <cusip>9063956F0</cusip>
        <identifiers>
          <isin value="US9063956F04"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23156.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Linden Community School District</name>
        <lei>N/A</lei>
        <title>Linden Community School District, Series 2025III</title>
        <cusip>535358NA9</cusip>
        <identifiers>
          <isin value="US535358NA97"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11414.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grand Strand Water &amp; Sewer Authority</name>
        <lei>549300I6U20IXQRXNX20</lei>
        <title>Grand Strand Water &amp; Sewer Authority, Series 2026</title>
        <cusip>386475HZ3</cusip>
        <identifiers>
          <isin value="US386475HZ35"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40327.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Temple Independent School District/TX</name>
        <lei>N/A</lei>
        <title>Temple Independent School District, Series 2024</title>
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          <isin value="US880081TE42"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</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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          <isin value="US93974EWN20"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50929.04000000</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>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Snohomish County Public Utility District No. 1 Electric System Revenue</name>
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        <title>Snohomish County Public Utility District No. 1, Series 2021A</title>
        <cusip>833102ZP4</cusip>
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          <isin value="US833102ZP45"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Saline Area Schools</name>
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        <title>Saline Area Schools, Series II</title>
        <cusip>795200MC5</cusip>
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          <isin value="US795200MC54"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22660.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Jacksonville Transportation Authority</name>
        <lei>N/A</lei>
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        <cusip>469494BS6</cusip>
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          <isin value="US469494BS64"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61331.84000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Comanche Independent School District</name>
        <lei>N/A</lei>
        <title>Comanche Independent School District, Series 2024</title>
        <cusip>200057KG1</cusip>
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          <isin value="US200057KG16"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>56545.02000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Mexico Finance Authority</name>
        <lei>549300L6217Y7X40SP94</lei>
        <title>New Mexico Finance Authority, Series 2023B</title>
        <cusip>64711PNE6</cusip>
        <identifiers>
          <isin value="US64711PNE69"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123457.03000000</valUSD>
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        <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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Utah Telecommunication Open Infrastructure Agency</name>
        <lei>549300LCGT5UXUJ1LP77</lei>
        <title>Utah Telecommunication Open Infrastructure Agency, Series 2022</title>
        <cusip>91756SAK9</cusip>
        <identifiers>
          <isin value="US91756SAK96"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61140.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oklahoma Capitol Improvement Authority</name>
        <lei>549300LYHYBINTZ5AY71</lei>
        <title>Oklahoma Capitol Improvement Authority, Series 2019C</title>
        <cusip>679088JK1</cusip>
        <identifiers>
          <isin value="US679088JK11"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78160.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Redford Union School District No. 1</name>
        <lei>N/A</lei>
        <title>Redford Union School District No. 1, Series 2023II</title>
        <cusip>757402MK5</cusip>
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          <isin value="US757402MK50"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60533.14000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cook County Community Consolidated School District No. 65 Evanston</name>
        <lei>549300H6EG18CC8TGB88</lei>
        <title>Cook County Community Consolidated School District No. 65, Series 2022</title>
        <cusip>213687PQ3</cusip>
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          <isin value="US213687PQ36"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50780.23000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chicago Midway International Airport</name>
        <lei>N/A</lei>
        <title>Chicago Midway International Airport, Series 2025B</title>
        <cusip>167562VJ3</cusip>
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          <isin value="US167562VJ35"/>
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        <balance>30000.00000000</balance>
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        <valUSD>33986.22000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Illinois State Toll Highway Authority</name>
        <lei>549300ISBFGI8MJJKM98</lei>
        <title>Illinois State Toll Highway Authority, Series 2019C</title>
        <cusip>452252PD5</cusip>
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          <isin value="US452252PD55"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Three Rivers Community Schools</name>
        <lei>N/A</lei>
        <title>Three Rivers Community Schools, Series 2023II</title>
        <cusip>88567AHW0</cusip>
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          <isin value="US88567AHW09"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Wichita Falls Independent School District</name>
        <lei>N/A</lei>
        <title>Wichita Falls Independent School District, Series 2025</title>
        <cusip>967171SS9</cusip>
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          <isin value="US967171SS92"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-02-01</maturityDt>
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      <invstOrSec>
        <name>City of Bothell WA</name>
        <lei>N/A</lei>
        <title>City of Bothell, Series 2024C</title>
        <cusip>101295JK0</cusip>
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        <valUSD>45662.22000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Tacoma Metropolitan Park District</name>
        <lei>N/A</lei>
        <title>Tacoma Metropolitan Park District, Series 2019</title>
        <cusip>592240VU6</cusip>
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          <isin value="US592240VU62"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55509.17000000</valUSD>
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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>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>King County School District No. 410 Snoqualmie Valley</name>
        <lei>N/A</lei>
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          <isin value="US495206RN65"/>
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        <name>County of Seminole FL Water &amp; Sewer Revenue</name>
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          <isin value="US816705KT36"/>
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      <invstOrSec>
        <name>Central Florida Expressway Authority</name>
        <lei>N/A</lei>
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          <isin value="US153476GN09"/>
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      <invstOrSec>
        <name>City &amp; County Honolulu HI Wastewater System Revenue</name>
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          <isin value="US4387013F94"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington Metropolitan Area Transit Authority Dedicated Revenue</name>
        <lei>N/A</lei>
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          <isin value="US93878YDC03"/>
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        <curCd>USD</curCd>
        <valUSD>61238.25000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Missouri Joint Municipal Electric Utility Commission</name>
        <lei>N/A</lei>
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          <isin value="US606094DH09"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Tuscaloosa AL</name>
        <lei>N/A</lei>
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          <isin value="US9005772P13"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>City &amp; County of Denver CO</name>
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        <cusip>249164RG1</cusip>
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          <isin value="US249164RG16"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bishop Consolidated Independent School District</name>
        <lei>N/A</lei>
        <title>Bishop Consolidated Independent School District, Series 2025</title>
        <cusip>091482HK8</cusip>
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          <isin value="US091482HK88"/>
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        <balance>15000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-15</maturityDt>
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      <invstOrSec>
        <name>New Jersey Transportation Trust Fund Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
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        <name>County of Oakland MI</name>
        <lei>549300ODIQ70W6TDGU58</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>City of Bettendorf IA</name>
        <lei>N/A</lei>
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          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>City of Memphis TN</name>
        <lei>254900N4APYJWTAF5J46</lei>
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        <cusip>586145Y65</cusip>
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          <isin value="US586145Y655"/>
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        <balance>85000.00000000</balance>
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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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        <name>City of Chandler AZ</name>
        <lei>N/A</lei>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Wayne State University</name>
        <lei>549300GWQMQVAS66E613</lei>
        <title>Wayne State University, Series 2023A</title>
        <cusip>946303F58</cusip>
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          <isin value="US946303F589"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Philadelphia Authority for Industrial Development</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>Philadelphia Authority for Industrial Development, Series 2025A</title>
        <cusip>71783DDS1</cusip>
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          <maturityDt>2035-12-01</maturityDt>
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      <invstOrSec>
        <name>Kentucky State Property &amp; Building Commission</name>
        <lei>N/A</lei>
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        <cusip>49151F4W7</cusip>
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          <isin value="US49151F4W77"/>
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        <balance>10000.00000000</balance>
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        <valUSD>11335.77000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Gardner KS</name>
        <lei>N/A</lei>
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        <cusip>365591YX8</cusip>
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          <isin value="US365591YX88"/>
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        <balance>155000.00000000</balance>
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        <valUSD>156385.22000000</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>
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        <name>City of Waco TX</name>
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        <name>District of Columbia</name>
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        <name>King County School District No. 410 Snoqualmie Valley</name>
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        <name>County of Horry SC</name>
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        <name>District of Columbia Water &amp; Sewer Authority</name>
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        <name>University of Washington</name>
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        <name>County of Racine WI</name>
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        <name>Washington State University</name>
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        <name>MSD Warren Township Vision 2005 School Building Corp.</name>
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        <name>Douglas County School District No. 17/NE</name>
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        <name>State of Florida Department of Transportation Turnpike System Revenue</name>
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        <name>State of Washington</name>
        <lei>549300X3TODFMUKLQ364</lei>
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        <name>City of Sachse TX</name>
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    <signature>
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      <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>
