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      </invstOrSec>
      <invstOrSec>
        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
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        <title>CT CTSHGR 4 07/01/2035</title>
        <cusip>20775DPF3</cusip>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4153060.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
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        <title>CT CTSHGR 4 07/01/2038</title>
        <cusip>20775DSL7</cusip>
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        <valUSD>1065379.17000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>FLORIDA ST MUN PWR AGY</name>
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          <isin value="US342816R981"/>
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        <curCd>USD</curCd>
        <valUSD>3607350.62000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>GREATER TEXOMA UTIL AUTH TEX</name>
        <lei>N/A</lei>
        <title>TX GXMUTL 5 10/01/2036</title>
        <cusip>39239MFV9</cusip>
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          <isin value="US39239MFV90"/>
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        <curCd>USD</curCd>
        <valUSD>2195931.91000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>KING CNTY WASH HSG AUTH</name>
        <lei>549300TZU8KSWALVD392</lei>
        <title>WA KINHSG 5 01/01/2028</title>
        <cusip>49477AAA6</cusip>
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          <isin value="US49477AAA60"/>
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        <balance>4715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4720517.96000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ARIZONA INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>AZ AZSEDU 3 07/01/2034</title>
        <cusip>04052BNG5</cusip>
        <identifiers>
          <isin value="US04052BNG58"/>
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        <balance>770000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>743194.53000000</valUSD>
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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>3.00000000</annualizedRt>
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        <name>CHICAGO ILL PK DIST</name>
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        <title>IL CHIFAC 4 01/01/2034</title>
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          <isin value="US167615U686"/>
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        <balance>10210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10544639.90000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW MEXICO MTG FIN AUTH</name>
        <lei>N/A</lei>
        <title>NM NMSHSG 3 03/01/2053</title>
        <cusip>647201RM6</cusip>
        <identifiers>
          <isin value="US647201RM67"/>
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        <balance>1405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1394879.93000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>CASINO REINVESTMENT DEV AUTH NJ</name>
        <lei>N/A</lei>
        <title>NJ CASDEV 5 11/01/2030</title>
        <cusip>14760RBD2</cusip>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1108079.20000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK STATE MORTGAGE AGENCY (NY)</name>
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        <balance>7020000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-01</maturityDt>
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        <name>NEW YORK ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>WASHINGTON ST HEALTH CARE FACS AUTH</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>WA WASMED 5 03/01/2037</title>
        <cusip>93978HZM0</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>GUAM GOVT WTRWKS AUTH</name>
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        <cusip>40065FFC3</cusip>
        <identifiers>
          <isin value="US40065FFC32"/>
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        <valUSD>1245346.30000000</valUSD>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CA CASFIN 5 10/01/2040</title>
        <cusip>13048V3T3</cusip>
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        <name>ILLINOIS FIN AUTH</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>IL ILSGEN 5 09/01/2034</title>
        <cusip>45204FZF5</cusip>
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        <name>NEW YORK ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NY NYSHGR 4 03/15/2034</title>
        <cusip>64990FW34</cusip>
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          <maturityDt>2034-03-15</maturityDt>
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        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CA CASFIN 4 01/01/2036</title>
        <cusip>13048VWA2</cusip>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>IDAHO HEALTH FACS AUTH</name>
        <lei>549300X43KY1C2WW0J97</lei>
        <title>ID IDSMED 03/01/2060</title>
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        <name>DU PAGE &amp; COOK CNTYS ILL TWP HIGH SCH DIST NO 86 HINSDALE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILADELPHIA PA HSG AUTH</name>
        <lei>N/A</lei>
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        <cusip>71783TAK6</cusip>
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          <isin value="US71783TAK60"/>
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        <balance>5775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6537766.62000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NEW YORK ST DORM AUTH</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>JACKSONVILLE FLA HSG AUTH</name>
        <lei>N/A</lei>
        <title>FL JACHSG 5 02/01/2034</title>
        <cusip>46940XAJ2</cusip>
        <identifiers>
          <isin value="US46940XAJ28"/>
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        <balance>8500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9527652.55000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>MINNESOTA ST HSG FIN AGY</name>
        <lei>549300R89XDTQBK4GE22</lei>
        <title>MN MNSHSG 4 07/01/2047</title>
        <cusip>60416SUC2</cusip>
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          <isin value="US60416SUC24"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>90365.84000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>OREGON COAST CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
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        <cusip>68583NBY6</cusip>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>368639.83000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK TRANSN DEV CORP</name>
        <lei>N/A</lei>
        <title>NY NYTTRN 5 07/01/2046</title>
        <cusip>650116AR7</cusip>
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          <isin value="US650116AR77"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2500992.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>UNIVERSITY AKRON OHIO</name>
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        <title>OH UNVHGR 5 01/01/2033</title>
        <cusip>914023LK0</cusip>
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          <isin value="US914023LK08"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5034613.00000000</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>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IPS MULTI-SCH BLDG CORP IND</name>
        <lei>549300BHLK1DUJUYPM91</lei>
        <title>IN IPSEDU 5 07/15/2038</title>
        <cusip>46263RTS4</cusip>
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          <isin value="US46263RTS49"/>
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        <balance>2940000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3313279.45000000</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>2038-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GUAM INTL ARPT AUTH</name>
        <lei>N/A</lei>
        <title>GU GMSAPT 5 10/01/2029</title>
        <cusip>40064RGC7</cusip>
        <identifiers>
          <isin value="US40064RGC79"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>239957.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>CA CCEDEV 01/01/2056</title>
        <cusip>13013JFW1</cusip>
        <identifiers>
          <isin value="US13013JFW18"/>
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        <balance>2500000.00000000</balance>
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        <valUSD>2790959.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>REGIONAL TRANSN DIST COLO</name>
        <lei>N/A</lei>
        <title>CO REGTRN 5 01/15/2029</title>
        <cusip>759151BE2</cusip>
        <identifiers>
          <isin value="US759151BE27"/>
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        <balance>1400000.00000000</balance>
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        <valUSD>1482962.46000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CLIFTON TEX HIGHER ED FIN CORP</name>
        <lei>N/A</lei>
        <title>TX CLIEDU 5 08/15/2039</title>
        <cusip>187145WF0</cusip>
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          <isin value="US187145WF08"/>
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        <balance>5150000.00000000</balance>
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        <valUSD>5794404.57000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>WASHINGTON ST HEALTH CARE FACS AUTH</name>
        <lei>549300ZVPWQIL3N5TL85</lei>
        <title>WA WASMED 5 10/01/2032</title>
        <cusip>93978HUX1</cusip>
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          <isin value="US93978HUX15"/>
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        <balance>2500000.00000000</balance>
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        <valUSD>2655467.50000000</valUSD>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>HONOLULU HAWAII CITY &amp; CNTY</name>
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        <title>HI HONUTL 5 07/01/2035</title>
        <cusip>4387014L5</cusip>
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          <isin value="US4387014L53"/>
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        <balance>1500000.00000000</balance>
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        <valUSD>1812521.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>WAXAHACHIE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>TX WAXSCD 4 08/15/2037</title>
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          <isin value="US944097C446"/>
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        <balance>4700000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>FLORIDA DEV FIN CORP</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>FL FLSDEV 5 06/15/2035</title>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>CHICAGO ILL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>IL CHI 5 01/01/2029</title>
        <cusip>167486G37</cusip>
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        <balance>8000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>TRIBOROUGH BRDG &amp; TUNL AUTH N Y</name>
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        <name>ARIZONA INDL DEV AUTH</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</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>
      <invstOrSec>
        <name>LOWER COLO RIV AUTH TEX</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>TX LWCGEN 05/15/2045</title>
        <cusip>54811GS35</cusip>
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          <isin value="US54811GS350"/>
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        <balance>6250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7035746.88000000</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>2045-05-15</maturityDt>
          <couponKind>Variable</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>
      <invstOrSec>
        <name>COLUMBUS IND MULTI-SCH BLDG CORP</name>
        <lei>N/A</lei>
        <title>IN CLBFAC 5 01/15/2044</title>
        <cusip>199240HF2</cusip>
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          <isin value="US199240HF22"/>
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        <balance>1050000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1137257.42000000</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>2044-01-15</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>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHOE CNTY NEV</name>
        <lei>N/A</lei>
        <title>NV WASPWR 03/01/2036</title>
        <cusip>940797AN3</cusip>
        <identifiers>
          <isin value="US940797AN31"/>
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        <balance>4015000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4124014.48000000</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>2036-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.62500000</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>VAN ALSTYNE TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>TX VAYSCD 5 02/15/2042</title>
        <cusip>920496WW2</cusip>
        <identifiers>
          <isin value="US920496WW22"/>
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        <balance>1425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1579504.77000000</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>2042-02-15</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>NEW YORK N Y</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>NY NYC 4 03/01/2042</title>
        <cusip>64966QJY7</cusip>
        <identifiers>
          <isin value="US64966QJY70"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1506045.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHANDLER ARIZ INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>AZ CHADEV 06/01/2049</title>
        <cusip>158862CE0</cusip>
        <identifiers>
          <isin value="US158862CE05"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5145308.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL TEX REGL MOBILITY AUTH</name>
        <lei>N/A</lei>
        <title>TX CTXGEN 4 01/01/2035</title>
        <cusip>155498NE4</cusip>
        <identifiers>
          <isin value="US155498NE42"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6302448.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>
      <invstOrSec>
        <name>METROPOLITAN WASH D C ARPTS AUTH</name>
        <lei>7HERAVJJLN8J1DZ6AZ19</lei>
        <title>DC METAPT 5 10/01/2032</title>
        <cusip>592647MQ1</cusip>
        <identifiers>
          <isin value="US592647MQ19"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7991806.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HIDALGO CNTY TEX REGL MOBILITY AUTH</name>
        <lei>N/A</lei>
        <title>TX HMATRN 4 12/01/2037</title>
        <cusip>42934AAK6</cusip>
        <identifiers>
          <isin value="US42934AAK60"/>
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        <balance>1545000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1560002.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SALEM ORE HOSP FAC AUTH</name>
        <lei>N/A</lei>
        <title>OR SALMED 5 05/15/2038</title>
        <cusip>794458FT1</cusip>
        <identifiers>
          <isin value="US794458FT15"/>
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        <balance>2105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2211760.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>NY MTATRN 5 11/15/2037</title>
        <cusip>59261A4U8</cusip>
        <identifiers>
          <isin value="US59261A4U82"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11523852.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OREGON ST BUSINESS DEV COMMN</name>
        <lei>N/A</lei>
        <title>OR ORSDEV 12/01/2040</title>
        <cusip>68609AAD1</cusip>
        <identifiers>
          <isin value="US68609AAD19"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7144486.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MONTANA ST BRD HSG</name>
        <lei>N/A</lei>
        <title>MT MTSSFH 3.5 06/01/2044</title>
        <cusip>61212WCF0</cusip>
        <identifiers>
          <isin value="US61212WCF05"/>
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        <balance>390000.00000000</balance>
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        <valUSD>390117.82000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>IOWA FIN AUTH</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>IA IASGEN 5 08/01/2037</title>
        <cusip>46247SHP2</cusip>
        <identifiers>
          <isin value="US46247SHP20"/>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1394794.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW MEXICO MTG FIN AUTH</name>
        <lei>N/A</lei>
        <title>NM NMSHSG 5.3 09/01/2048</title>
        <cusip>647201ZS4</cusip>
        <identifiers>
          <isin value="US647201ZS46"/>
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        <balance>2975000.00000000</balance>
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          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>FAYETTE CNTY GA DEV AUTH</name>
        <lei>N/A</lei>
        <title>GA FAYDEV 5 10/01/2041</title>
        <cusip>31222PAS0</cusip>
        <identifiers>
          <isin value="US31222PAS02"/>
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        <balance>750000.00000000</balance>
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        <valUSD>807176.25000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>DELAWARE VALLEY PA REGL FIN AUTH</name>
        <lei>549300HGYP3NW885TT18</lei>
        <title>PA DLVGEN 2 10/01/2029</title>
        <cusip>246579LK0</cusip>
        <identifiers>
          <isin value="US246579LK03"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>973476.40000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <name>MONTGOMERY CNTY OHIO</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>RHODE ISLAND HSG &amp; MTG FIN CORP</name>
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        <cusip>76221RU27</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PENNSYLVANIA ECONOMIC DEV FING AUTH</name>
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        <cusip>70870JAX6</cusip>
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          <isin value="US70870JAX63"/>
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        <balance>3750000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IDAHO HEALTH FACS AUTH</name>
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        <title>ID IDSMED 4 03/01/2034</title>
        <cusip>451295C31</cusip>
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        <balance>400000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>KANSAS CITY MO SPL OBLIG</name>
        <lei>549300EGAE3I3XU7XE19</lei>
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        <cusip>485106N20</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS FIN AUTH</name>
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        <title>IL ILSGEN 5 10/01/2039</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>REGIONAL TRANSN DIST COLO</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>IOWA FIN AUTH</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>IA IASGEN 5 08/01/2040</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>SARASOTA FLA</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>TEXAS WATER DEV BRD</name>
        <lei>N/A</lei>
        <title>TX TXSWTR 4 10/15/2037</title>
        <cusip>882854Q21</cusip>
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        <balance>10000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>COOK ILL HIGH SCH DIST NO 207 MAINE TWP</name>
        <lei>N/A</lei>
        <title>IL COOSCD 3 12/01/2032</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>ANSONIA CONN</name>
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        <title>CT ANSCTF 4.12 12/01/2034</title>
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          <isin value="US036528AL10"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>VAN ALSTYNE TEX INDPT SCH DIST</name>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>GREATER TEXOMA UTIL AUTH TEX</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>PUERTO RICO COMWLTH</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>PR PRC 4 07/01/2035</title>
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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR</name>
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        <title>CA LOSUTL 5 07/01/2042</title>
        <cusip>544532PP3</cusip>
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        <balance>625000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>GUAM INTL ARPT AUTH</name>
        <lei>N/A</lei>
        <title>GU GMSAPT 5 10/01/2029</title>
        <cusip>40064RFK0</cusip>
        <identifiers>
          <isin value="US40064RFK05"/>
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        <balance>250000.00000000</balance>
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        <valUSD>264875.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>ST CLOUD MINN</name>
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        <name>MINNEAPOLIS &amp; ST PAUL MINN MET ARPTS COMMN</name>
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        <name>IDAHO HEALTH FACS AUTH</name>
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        <name>ARIZONA INDL DEV AUTH</name>
        <lei>N/A</lei>
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          <isin value="US04052FBN42"/>
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        <name>PENNSYLVANIA ST</name>
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      <invstOrSec>
        <name>OKLAHOMA ST INDS AUTH</name>
        <lei>N/A</lei>
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          <isin value="US67910FAJ30"/>
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        <name>CALIFORNIA ST</name>
        <lei>9845007J7054602FF597</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ALAMEDA CORRIDOR TRANSN AUTH CALIF</name>
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        <name>PUERTO RICO COMWLTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ERNEST N MORIAL-NEW ORLEANS LA EXHIB HALL AUTH</name>
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          <isin value="US295852KN63"/>
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      <invstOrSec>
        <name>METROPOLITAN WASH D C ARPTS AUTH</name>
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        <cusip>592647LC3</cusip>
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        <name>PHILADELPHIA PA AUTH</name>
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        <name>PASSAIC CNTY N J IMPT AUTH</name>
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        <name>TENNESSEE HSG DEV AGY</name>
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        <name>GUAM INTL ARPT AUTH</name>
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        <name>WASHINGTON ST HIGHER ED FACS AUTH</name>
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        <name>TULSA CNTY OKLA INDL AUTH</name>
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        <title>OK TULEDU 5 09/01/2032</title>
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        <name>WEBSTER N Y CENT SCH DIST</name>
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        <name>MONTGOMERY CNTY OHIO</name>
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        <name>CHICAGO ILL PK DIST</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GUAM INTL ARPT AUTH</name>
        <lei>N/A</lei>
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        <cusip>40064RFH7</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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      <invstOrSec>
        <name>TROY N Y CAP RESOURCE CORP</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MUNICIPAL ELEC AUTH GA</name>
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        <cusip>62620HJS2</cusip>
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        <balance>1100000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTH CAROLINA JOBS-ECONOMIC DEV AUTH</name>
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        <title>SC SCSMED 11/01/2049</title>
        <cusip>83703EMU6</cusip>
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          <isin value="US83703EMU63"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CLARKSVILLE TENN PUB BLDG AUTH</name>
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        <cusip>182564AV6</cusip>
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          <isin value="US182564AV64"/>
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        <balance>900000.00000000</balance>
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        <valUSD>900000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.08000000</annualizedRt>
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        <name>IDAHO HEALTH FACS AUTH</name>
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        <cusip>451295C49</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>REGIONAL TRANSN DIST COLO</name>
        <lei>N/A</lei>
        <title>CO REGTRN 5 01/15/2032</title>
        <cusip>759151BL6</cusip>
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        <balance>1300000.00000000</balance>
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        <valUSD>1422130.71000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>IL ILS 5 03/01/2031</title>
        <cusip>452153AK5</cusip>
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          <isin value="US452153AK53"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>535401.74000000</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>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>PUERTO RICO COMWLTH</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>PR PRC 4 07/01/2037</title>
        <cusip>74514L3M7</cusip>
        <identifiers>
          <isin value="US74514L3M75"/>
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        <balance>15316.13560000</balance>
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        <curCd>USD</curCd>
        <valUSD>15347.78000000</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>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>PHILADELPHIA PA AUTH</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>PA PHIDEV 5 11/01/2029</title>
        <cusip>71780TAP8</cusip>
        <identifiers>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1078183.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NORTHWEST TEX INDPT SCH DIST</name>
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        <title>TX NWTSCD 5 02/15/2039</title>
        <cusip>667826FY2</cusip>
        <identifiers>
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        <balance>1940000.00000000</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>
        <debtSec>
          <maturityDt>2039-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>HIDALGO CNTY TEX REGL MOBILITY AUTH</name>
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        <title>TX HMATRN 5 12/01/2028</title>
        <cusip>42934AAA8</cusip>
        <identifiers>
          <isin value="US42934AAA88"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>105085.09000000</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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      <invstOrSec>
        <name>RHODE ISLAND ST HEALTH &amp; EDL BLDG CORP</name>
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        <title>RI RISMED 5 05/15/2041</title>
        <cusip>7621965T6</cusip>
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          <isin value="US7621965T61"/>
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        <balance>2490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2754612.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>OHIO ST HIGHER EDL FAC COMMN</name>
        <lei>5493007MQT6NGNN6BR81</lei>
        <title>OH OHSEDU 4 10/01/2042</title>
        <cusip>67756DZT6</cusip>
        <identifiers>
          <isin value="US67756DZT61"/>
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        <balance>3205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2890130.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>NEW YORK N Y CITY MUN WTR FIN AUTH</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>NY NYCUTL 06/15/2049</title>
        <cusip>64972GCR3</cusip>
        <identifiers>
          <isin value="US64972GCR39"/>
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        <balance>4500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
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          <annualizedRt>1.75000000</annualizedRt>
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        <name>TARRANT CNTY TEX CULTURAL ED FACS FIN CORP</name>
        <lei>549300ROY505NVTMMI25</lei>
        <title>TX TAREDU 11/15/2055</title>
        <cusip>87638QUG2</cusip>
        <identifiers>
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        <balance>7000000.00000000</balance>
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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>2055-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>TAMPA FLA</name>
        <lei>N/A</lei>
        <title>FL TAMGEN 3 10/01/2036</title>
        <cusip>875139CN5</cusip>
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          <isin value="US875139CN59"/>
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        <balance>4940000.00000000</balance>
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        <valUSD>4950301.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GUAM GOVT</name>
        <lei>N/A</lei>
        <title>GU GMSGEN 5 12/01/2029</title>
        <cusip>40065HDM9</cusip>
        <identifiers>
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        <name>NEW HAVEN CALIF UNI SCH DIST</name>
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        <name>OMAHA NEB ARPT AUTH</name>
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        <name>CHICAGO ILL PK DIST</name>
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        <name>ALIEF TEX INDPT SCH DIST</name>
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        <name>MARICOPA CNTY ARIZ INDL DEV AUTH</name>
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        <name>NEW YORK LIBERTY DEV CORP</name>
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        <name>KENTUCKY ST PPTY &amp; BLDGS COMMN</name>
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        <name>METROPOLITAN NASHVILLE ARPT AUTH TENN</name>
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      <invstOrSec>
        <name>HIDALGO CNTY TEX REGL MOBILITY AUTH</name>
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        <name>NEW YORK N Y CITY MUN WTR FIN AUTH</name>
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      <invstOrSec>
        <name>METROPOLITAN WASH D C ARPTS AUTH</name>
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        <name>CHICAGO ILL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
        <title>IL CHI 5 01/01/2034</title>
        <cusip>167486M30</cusip>
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        <balance>10000000.00000000</balance>
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        <valUSD>10582874.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-01</maturityDt>
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      <invstOrSec>
        <name>ERNEST N MORIAL-NEW ORLEANS LA EXHIB HALL AUTH</name>
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        <title>LA ERNFAC 5 07/15/2036</title>
        <cusip>295852KM8</cusip>
        <identifiers>
          <isin value="US295852KM80"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>GEISINGER AUTH PA</name>
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        <cusip>368497JY0</cusip>
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          <isin value="US368497JY02"/>
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        <balance>5015000.00000000</balance>
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        <name>WILL CNTY ILL FST PRESV DIST</name>
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        <name>PUERTO RICO COMWLTH</name>
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        <name>MAIN STR NAT GAS INC GA</name>
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        <name>COLORADO HSG &amp; FIN AUTH</name>
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        <name>TOBACCO SETTLEMENT FING CORP N J</name>
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        <name>IPS MULTI-SCH BLDG CORP IND</name>
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        <name>DISTRICT COLUMBIA</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>DC DISREV 5 07/01/2037</title>
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        <name>MINNESOTA ST HIGHER ED FACS AUTH</name>
        <lei>549300DI4V4CIPMX7K35</lei>
        <title>MN MNSHGR 5 10/01/2039</title>
        <cusip>60416JHT0</cusip>
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        <name>GUAM INTL ARPT AUTH</name>
        <lei>N/A</lei>
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        <cusip>40064RFM6</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VERMONT EDL &amp; HEALTH BLDGS FING AGY</name>
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        <title>VT VTSEDU 5 12/01/2032</title>
        <cusip>924166HU8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>MASSACHUSETTS EDL FING AUTH</name>
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        <cusip>57563RTY5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>VINEYARD REDEV AGY UTAH</name>
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      <invstOrSec>
        <name>GUAM INTL ARPT AUTH</name>
        <lei>N/A</lei>
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        <cusip>40064RFL8</cusip>
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          <isin value="US40064RFL87"/>
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        <fairValLevel>2</fairValLevel>
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        <name>WASHINGTON ST HIGHER ED FACS AUTH</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MAIN STR NAT GAS INC GA</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
        <title>GA MAIUTL 12/01/2052</title>
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        <balance>5000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>OHIO WATER DEVELOPMENT AUTHORITY (OH)</name>
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        <title>OH OHSPOL 12/01/2054</title>
        <cusip>67766WQ21</cusip>
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        <balance>2000000.00000000</balance>
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        <valUSD>2000000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>HIDALGO CNTY TEX REGL MOBILITY AUTH</name>
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        <cusip>42934AAE0</cusip>
        <identifiers>
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        <balance>300000.00000000</balance>
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        <valUSD>326918.46000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>SHREVEPORT LA</name>
        <lei>N/A</lei>
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        <balance>1250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>MAINE STATE HOUSING AUTHORITY (ME)</name>
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        <name>WISCONSIN CTR DIST WIS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA CMNTY CHOICE FING AUTH</name>
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        <name>TWIN LAKES IND SCH BLDG CORP</name>
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        <name>WINDSOR CONN</name>
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        <title>CT WDR 2 06/15/2030</title>
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        <name>METROPOLITAN GOVT NASHVILLE &amp; DAVIDSON CNTY TENN</name>
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        <title>TN MET 2.5 01/01/2029</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>CONNECTICUT (CT), STATE OF</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>CT CTS 5 03/15/2040</title>
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        <name>TULSA CNTY OKLA INDL AUTH</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH</name>
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        <name>MASSACHUSETTS EDL FING AUTH</name>
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        <name>DALLAS-FORT WORTH TEX INTL ARPT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-31</maturityDt>
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        <name>CLARK CNTY NEV</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>CONNECTICUT ST HEALTH &amp; EDL FACS AUTH</name>
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        <name>TEXAS TRANSPORTATION COMMISSION (TX)</name>
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        <name>HAWAII ST</name>
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        <name>CLARK-PLEASANT IND CMNTY SCH CORP</name>
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        <name>WINDSOR CONN</name>
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        <name>DALLAS TEX</name>
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        <name>CHICAGO ILL PK DIST</name>
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        <name>ARIZONA INDL DEV AUTH</name>
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          <maturityDt>2036-07-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BEAVER WTR DIST ARK</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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      <invstOrSec>
        <name>ARKANSAS ST DEV FIN AUTH</name>
        <lei>N/A</lei>
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          <isin value="US04109FCE60"/>
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        <valUSD>1050135.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH</name>
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        <cusip>13013JDB9</cusip>
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        <balance>1325000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NORTHERN IND COMMUTER TRANSN DIST IND</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTHWEST TEX INDPT SCH DIST</name>
        <lei>N/A</lei>
        <title>TX SWXSCD 5 02/01/2041</title>
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        <balance>2000000.00000000</balance>
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        <valUSD>2179527.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>ILLINOIS ST</name>
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        <balance>3000000.00000000</balance>
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        <valUSD>3414356.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>OMAHA NEB ARPT AUTH</name>
        <lei>N/A</lei>
        <title>NE OMAAPT 5 12/15/2031</title>
        <cusip>681725MV6</cusip>
        <identifiers>
          <isin value="US681725MV67"/>
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        <balance>2235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2504535.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MIAMI-DADE CNTY FLA</name>
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        <title>FL MIAGEN 4 04/01/2037</title>
        <cusip>59333NQ22</cusip>
        <identifiers>
          <isin value="US59333NQ228"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8302207.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>KENTUCKY INC KY PUB ENERGY AUTH</name>
        <lei>549300XEJZWHYSY4SL55</lei>
        <title>KY KYSPWR 06/01/2055</title>
        <cusip>74440DFN9</cusip>
        <identifiers>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5405709.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MARYLAND ST</name>
        <lei>N/A</lei>
        <title>MD MDS 4 03/15/2035</title>
        <cusip>574193SM1</cusip>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5258695.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>WILL CNTY ILL FST PRESV DIST</name>
        <lei>N/A</lei>
        <title>IL WILENV 5 12/15/2043</title>
        <cusip>968661JP4</cusip>
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        <balance>1950000.00000000</balance>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>RHODE ISLAND ST HEALTH &amp; EDL BLDG CORP</name>
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        <title>RI RISHGR 5 11/01/2047</title>
        <cusip>762197UW9</cusip>
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          <isin value="US762197UW97"/>
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        <balance>2045000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2051484.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>SANTA MARIA CALIF JT UN HIGH SCH DIST</name>
        <lei>5493006E0NB791MBEL10</lei>
        <title>CA SMASCD 3 08/01/2040</title>
        <cusip>802309NQ3</cusip>
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          <isin value="US802309NQ36"/>
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        <balance>2390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2232803.01000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>PENNSYLVANIA ST HIGHER EDL FACS AUTH</name>
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        <title>PA PASHGR 5 06/15/2029</title>
        <cusip>70917TNQ0</cusip>
        <identifiers>
          <isin value="US70917TNQ03"/>
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        <balance>4185000.00000000</balance>
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        <valUSD>4210756.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NEW YORK N Y CITY HSG DEV CORP</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>NY NYCMFH 3.38 11/15/2029</title>
        <cusip>64970HET7</cusip>
        <identifiers>
          <isin value="US64970HET77"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3001358.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <name>NORTH TEX TWY AUTH</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>TX NRTTRN 4 01/01/2034</title>
        <cusip>66285WXF8</cusip>
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          <isin value="US66285WXF84"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>MARYLAND ST HEALTH &amp; HIGHER EDL FACS AUTH</name>
        <lei>N/A</lei>
        <title>MD MDSMED 5 07/01/2037</title>
        <cusip>57421CMA9</cusip>
        <identifiers>
          <isin value="US57421CMA98"/>
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        <balance>1050000.00000000</balance>
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        <valUSD>1173208.79000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PENNSYLVANIA ST UNIV</name>
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        <name>KENTUCKY INC KY PUB ENERGY AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>CONNECTICUT (CT), STATE OF</name>
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          <isin value="US20772KA413"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-15</maturityDt>
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        <name>ARIZONA INDL DEV AUTH</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>MARYLAND DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT (MD)</name>
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        <cusip>57419R7Y5</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ARKANSAS ST DEV FIN AUTH</name>
        <lei>N/A</lei>
        <title>AR ARSDEV 5 02/01/2030</title>
        <cusip>04109FCF3</cusip>
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          <isin value="US04109FCF36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MARYLAND ST DEPT TRANSN</name>
        <lei>N/A</lei>
        <title>MD MDSTRN 5 08/01/2027</title>
        <cusip>57421FBC0</cusip>
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          <isin value="US57421FBC05"/>
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        <balance>925000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OKLAHOMA TRANSN AUTH OK F/K/A OKLAHOMA ST TPK AUTH</name>
        <lei>549300J83EP2PBDYH615</lei>
        <title>OK OKSTRN 5 01/01/2039</title>
        <cusip>679111D76</cusip>
        <identifiers>
          <isin value="US679111D766"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5772627.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FAYETTE CNTY GA DEV AUTH</name>
        <lei>N/A</lei>
        <title>GA FAYDEV 5 10/01/2040</title>
        <cusip>31222PAR2</cusip>
        <identifiers>
          <isin value="US31222PAR29"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>ILLINOIS ST</name>
        <lei>N/A</lei>
        <title>IL ILSGEN 5 06/15/2039</title>
        <cusip>452227VK4</cusip>
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          <isin value="US452227VK43"/>
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          <maturityDt>2039-06-15</maturityDt>
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      <invstOrSec>
        <name>ARKANSAS ST DEV FIN AUTH</name>
        <lei>N/A</lei>
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        <cusip>04109FCG1</cusip>
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          <isin value="US04109FCG19"/>
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        <name>OMAHA NEB ARPT AUTH</name>
        <lei>N/A</lei>
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        <cusip>681725MU8</cusip>
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          <isin value="US681725MU84"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>DU PAGE CNTY ILL SCH DIST NO 60</name>
        <lei>N/A</lei>
        <title>IL DUPSCD 4 12/30/2032</title>
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          <isin value="US263183FL45"/>
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        <name>CASINO REINVESTMENT DEV AUTH NJ</name>
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        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>IL ILS 5 05/01/2037</title>
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        <name>COLORADO BRDG &amp; TUNL ENTERPRISE</name>
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          <isin value="US19633TAN19"/>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP</name>
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        <title>TX TXSTRN 4 06/30/2032</title>
        <cusip>882667BD9</cusip>
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          <isin value="US882667BD90"/>
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        <balance>2800000.00000000</balance>
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        <name>KANSAS CITY MO INDL DEV AUTH</name>
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        <name>NEW YORK N Y</name>
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        <name>GUAM INTL ARPT AUTH</name>
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        <name>NEW YORK LIBERTY DEV CORP</name>
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        <name>DENVER (CO), CITY AND COUNTY OF</name>
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        <name>BAY AREA TOLL AUTH CALIF</name>
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        <name>DALLAS TEX</name>
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        <name>MARYLAND ST DEPT TRANSN</name>
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        <name>LAS VEGAS VALLEY NEV WTR DIST</name>
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        <name>ARIZONA INDL DEV AUTH</name>
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        <name>UTAH ST CHARTER SCH FIN AUTH</name>
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        <name>MONTANA FAC FIN AUTH</name>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP</name>
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        <name>CLIFTON TEX HIGHER ED FIN CORP</name>
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        <name>METROPOLITAN NASHVILLE ARPT AUTH TENN</name>
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        <cusip>592190NY4</cusip>
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        <name>TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORP VI (TX)</name>
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        <name>CALIFORNIA MUN FIN AUTH</name>
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        <name>DALLAS TEX</name>
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        <name>WASHINGTON ST HIGHER ED FACS AUTH</name>
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        <name>CASINO REINVESTMENT DEV AUTH NJ</name>
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        <name>METROPOLITAN WASHINGTON AIRPORTS AUTHORITY (DC)</name>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH</name>
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        <title>CA CCEDEV 12/01/2055</title>
        <cusip>13013JHD1</cusip>
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          <isin value="US13013JHD19"/>
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        <valUSD>5428783.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SARASOTA FLA</name>
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        <balance>2260000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH</name>
        <lei>549300PS0PAS7NDSSI20</lei>
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          <isin value="US45471ASM52"/>
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        <curCd>USD</curCd>
        <valUSD>762129.33000000</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>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HOUSTON TEX CMNTY COLLEGE SYS</name>
        <lei>549300UWXV516I6N3V90</lei>
        <title>TX HOUHGR 4 02/15/2036</title>
        <cusip>44236PKJ6</cusip>
        <identifiers>
          <isin value="US44236PKJ65"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5132157.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK LIBERTY DEV CORP</name>
        <lei>N/A</lei>
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        <cusip>649519DL6</cusip>
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          <isin value="US649519DL67"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4635738.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GUAM GOVT</name>
        <lei>N/A</lei>
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        <cusip>40065NDA2</cusip>
        <identifiers>
          <isin value="US40065NDA28"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1132453.10000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DALLAS TEX</name>
        <lei>N/A</lei>
        <title>TX DALGEN 4 08/15/2038</title>
        <cusip>235286AS0</cusip>
        <identifiers>
          <isin value="US235286AS05"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2003997.80000000</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>2038-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUN FIN AUTH</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CA CASFIN 4 01/01/2032</title>
        <cusip>13048VVW5</cusip>
        <identifiers>
          <isin value="US13048VVW52"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>228212.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</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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      <invstOrSec>
        <name>MARYLAND ST DEPT TRANSN</name>
        <lei>N/A</lei>
        <title>MD MDSTRN 5 08/01/2032</title>
        <cusip>57421FBH9</cusip>
        <identifiers>
          <isin value="US57421FBH91"/>
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        <balance>1550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1751196.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</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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      <invstOrSec>
        <name>MUNICIPAL ELEC AUTH GA</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
        <title>GA MELPWR 5 01/01/2035</title>
        <cusip>62620HJN3</cusip>
        <identifiers>
          <isin value="US62620HJN35"/>
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        <balance>3325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3861435.88000000</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>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>PENNSYLVANIA ST</name>
        <lei>N/A</lei>
        <title>PA PAS 3 05/15/2035</title>
        <cusip>70914PU91</cusip>
        <identifiers>
          <isin value="US70914PU912"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2977549.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>
      <invstOrSec>
        <name>NEBRASKA INVT FIN AUTH</name>
        <lei>549300OIIXIM3SRZWK33</lei>
        <title>NE NESSFH 5.5 09/01/2053</title>
        <cusip>63968MR76</cusip>
        <identifiers>
          <isin value="US63968MR761"/>
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        <balance>2130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2265258.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>NEW YORK N Y</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>NY NYC 5.25 03/01/2047</title>
        <cusip>64966SAX4</cusip>
        <identifiers>
          <isin value="US64966SAX45"/>
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        <balance>5000000.00000000</balance>
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        <valUSD>5354958.50000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>ILLINOIS ST TOLL HWY AUTH</name>
        <lei>549300ISBFGI8MJJKM98</lei>
        <title>IL ILSTRN 5 01/01/2042</title>
        <cusip>452252QA0</cusip>
        <identifiers>
          <isin value="US452252QA08"/>
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        <balance>3120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3433747.20000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>WADSWORTH OHIO CITY SCH DIST</name>
        <lei>N/A</lei>
        <title>OH WADSCD 4 12/01/2056</title>
        <cusip>930353NF0</cusip>
        <identifiers>
          <isin value="US930353NF09"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1411245.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SUSSEX CNTY N J</name>
        <lei>N/A</lei>
        <title>NJ SUS 2 06/15/2029</title>
        <cusip>869265A99</cusip>
        <identifiers>
          <isin value="US869265A998"/>
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        <balance>1945000.00000000</balance>
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        <valUSD>1892313.65000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>DISTRICT COLUMBIA HSG FIN AGY</name>
        <lei>N/A</lei>
        <title>DC DISHSG 09/01/2046</title>
        <cusip>254768YN8</cusip>
        <identifiers>
          <isin value="US254768YN83"/>
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        <balance>2500000.00000000</balance>
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        <valUSD>2639694.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAPE GIRARDEAU CNTY MO INDL DEV AUTH</name>
        <lei>N/A</lei>
        <title>MO CPGMED 5 06/01/2026</title>
        <cusip>139404GY7</cusip>
        <identifiers>
          <isin value="US139404GY77"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1005771.80000000</valUSD>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP</name>
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        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
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        <name>ARIZONA INDL DEV AUTH</name>
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          <isin value="US04052FBL85"/>
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          <maturityDt>2033-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>VAN ALSTYNE TEX INDPT SCH DIST</name>
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          <maturityDt>2041-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>DISTRICT COLUMBIA</name>
        <lei>549300HWFOZXPKGOX654</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK N Y CITY TRANSITIONAL FIN AUTH</name>
        <lei>5493003476LG35QAKM08</lei>
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        <cusip>64972JB64</cusip>
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        <name>MARYLAND ST DEPT TRANSN</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FAYETTE CNTY GA DEV AUTH</name>
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          <isin value="US31222PAQ46"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>PHOENIX ARIZ CIVIC IMPT CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COLUMBUS OHIO REGL ARPT AUTH</name>
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        <cusip>199546CM2</cusip>
        <identifiers>
          <isin value="US199546CM29"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-31</maturityDt>
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        <name>MAINE GOVERNMENTAL FACS AUTH</name>
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        <name>OHIO HSG FIN AGY</name>
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        <name>ILLINOIS STATE UNIVERSITY BOARD OF TRUSTEES (IL)</name>
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        <name>FORT BEND TEX GRAND PKWY TOLL RD AUTH</name>
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        <name>CASINO REINVESTMENT DEV AUTH NJ</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH</name>
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        <title>CA CASMED 3 11/01/2036</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>OKLAHOMA TRANSN AUTH OK F/K/A OKLAHOMA ST TPK AUTH</name>
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        <name>ALASKA ST INTL ARPTS</name>
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        <name>COLUMBUS OHIO REGL ARPT AUTH</name>
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        <name>PHILADELPHIA PA HSG AUTH</name>
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        <name>LOUDOUN CNTY VA INDL DEV AUTH</name>
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        <name>CHICAGO ILL O HARE INTL ARPT</name>
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        <name>SOUTHEAST ENERGY AUTH COOP DIST ALA</name>
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        <name>ILLINOIS FIN AUTH</name>
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        <name>COOK CNTY ILL CMNTY UNIT SCH DIST NO 401 ELMWOOD PK</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-04-23</ncom:dateSigned>
      <ncom:nameOfApplicant>BNY Mellon ETF Trust II</ncom:nameOfApplicant>
      <ncom:signature>James Windels</ncom:signature>
      <ncom:signerName>James Windels</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>