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        <fairValLevel>2</fairValLevel>
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        <name>City of Erie Higher Education Building Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago O'Hare International Airport</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Build NYC Resource Corp.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Downtown Revitalization Public Infrastructure District</name>
        <lei>N/A</lei>
        <title>Downtown Revitalization Public Infrastructure District, Series 2025C</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Structured Pass-Through Certificates</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Structured Pass-Through Certificates</title>
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          <isin value="US3137HCXR82"/>
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        <curCd>USD</curCd>
        <valUSD>359444.87000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>MUN</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-25</maturityDt>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority</title>
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          <isin value="US13078RGW43"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Indianapolis Local Public Improvement Bond Bank</name>
        <lei>549300LX8ESJHDSESB87</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Decatur Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York Transportation Development Corp.</name>
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        <title>New York Transportation Development Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Energy Research &amp; Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bromley Park Metropolitan District No. 3</name>
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        <fairValLevel>2</fairValLevel>
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        <name>District of Columbia Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Ohio WV Special District Excise Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fort Loramie Local School District</name>
        <lei>N/A</lei>
        <title>Fort Loramie Local School District</title>
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        <name>Florida Development Finance Corp.</name>
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          <isin value="US34061XAG79"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>William Penn School District Authority</name>
        <lei>N/A</lei>
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          <isin value="US969257BE33"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
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          <isin value="US462590NY29"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Idaho Housing &amp; Finance Association</name>
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          <isin value="US45129GLK93"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Virginia Beach Development Authority</name>
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        <cusip>92774NBF6</cusip>
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          <isin value="US92774NBF69"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>755287.28000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Mirabelle Metropolitan District No. 2</name>
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          <isin value="US60458HAU77"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Baltimore MD</name>
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          <isin value="US05922KK578"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>450941.45000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Houston TX Airport System Revenue</name>
        <lei>N/A</lei>
        <title>City of Houston, Series 2024B</title>
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          <isin value="US442349HY56"/>
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        <curCd>USD</curCd>
        <valUSD>567778.66000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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          <isin value="US49952MEG78"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Allegheny County Airport Authority</name>
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          <isin value="US01728LKN19"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp., Series 2026B</title>
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          <isin value="US34061QDW42"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Atlanta Urban Residential Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
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        <name>Southeast Energy Authority A Cooperative District</name>
        <lei>25490090A3RLJHITY273</lei>
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          <isin value="US84136HAH66"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Michigan Strategic Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Adams County General Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Mexico Mortgage Finance Authority</name>
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          <isin value="US647201TX05"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Black Belt Energy Gas District</name>
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          <isin value="US09182NBR08"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-06-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US65000B4T20"/>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>400538.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <name>Build NYC Resource Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Nashville Airport Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York City Housing Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Michigan State Housing Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Educational Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Chandler Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Port of Seattle WA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Connecticut State Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Medical Care Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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          <isin value="US74442EMD93"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-15</maturityDt>
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      <invstOrSec>
        <name>County of Trimble KY</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-01</maturityDt>
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        <name>California Community Choice Financing Authority</name>
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          <isin value="US13013JDD54"/>
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        <fairValLevel>2</fairValLevel>
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        <name>West Virginia Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Steel Valley School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pennsylvania Higher Education Assistance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rhode Island Health and Educational Building Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Guam Government Waterworks Authority</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Allegheny County Higher Education Building Authority</name>
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        <name>Albany Hospital Facility Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kentucky Higher Education Student Loan Corp.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>PR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Gary Chicago International Airport Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duluth Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Health and Education Facilities Authority Act</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Midway International Airport</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Education</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Capital Area Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Missouri Housing Development Commission</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US644684HC98"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <name>Michigan Strategic Fund</name>
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          <isin value="US59468PAA30"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <name>Stamford Housing Authority</name>
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          <isin value="US852640AC55"/>
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        <valUSD>473595.59000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Higher Education Assistance Agency</name>
        <lei>N/A</lei>
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          <isin value="US70878CAN56"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
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          <annualizedRt>2.62500000</annualizedRt>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <isin value="US13080SEW08"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>Rutherford County Health &amp; Educational Facilities Board</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pacific County Public Healthcare Services District No. 3</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Columbus Metropolitan Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tulsa Municipal Airport Trust Trustees/OK</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Minnesota Office of Higher Education</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Delaware Valley Regional Finance Authority</name>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.38240025</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <isin value="US13080SY736"/>
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        <curCd>USD</curCd>
        <valUSD>887671.17000000</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>2040-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>Chester County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Chester County Industrial Development Authority</title>
        <cusip>165588DP6</cusip>
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          <isin value="US165588DP66"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80211.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Tennessee Housing Development Agency</name>
        <lei>25490004PSQYQLFJGI76</lei>
        <title>Tennessee Housing Development Agency</title>
        <cusip>880461XD5</cusip>
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          <isin value="US880461XD54"/>
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        <balance>645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>614163.32000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority, Series 2023 B</title>
        <cusip>63610TAB2</cusip>
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          <isin value="US63610TAB26"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55668.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.58000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Palm Beach County Health Facilities Authority</name>
        <lei>N/A</lei>
        <title>Palm Beach County Health Facilities Authority</title>
        <cusip>696507VH2</cusip>
        <identifiers>
          <isin value="US696507VH25"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>744238.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <title>City of Galveston, Series 2023</title>
        <cusip>364568JC0</cusip>
        <identifiers>
          <isin value="US364568JC01"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>811126.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Columbus Regional Airport Authority</name>
        <lei>N/A</lei>
        <title>Columbus Regional Airport Authority, Series 2025 A</title>
        <cusip>199546CR1</cusip>
        <identifiers>
          <isin value="US199546CR16"/>
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        <balance>205000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>224706.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority, Series 2024 A</title>
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          <isin value="US74439YEW75"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1158973.75000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tennessee Energy Acquisition Corp.</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
        <title>Tennessee Energy Acquisition Corp.</title>
        <cusip>880443EE2</cusip>
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          <isin value="US880443EE26"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50611.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Texas Municipal Water District Water System Revenue</name>
        <lei>N/A</lei>
        <title>North Texas Municipal Water District Water System, Series 2025</title>
        <cusip>662903J87</cusip>
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          <isin value="US662903J879"/>
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        <valUSD>1076526.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency, Series 2026A</title>
        <cusip>57585BSY5</cusip>
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          <isin value="US57585BSY55"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>813350.93000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Columbus Metropolitan Housing Authority</name>
        <lei>N/A</lei>
        <title>Columbus Metropolitan Housing Authority, Series 2024</title>
        <cusip>199518AP6</cusip>
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          <isin value="US199518AP63"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>980949.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <name>Municipal Gas Authority of Georgia</name>
        <lei>DZK31GUXG7KOG1CHBL95</lei>
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        <cusip>373295LY8</cusip>
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          <isin value="US373295LY85"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Hawaii Airports System Revenue</name>
        <lei>N/A</lei>
        <title>State of Hawaii Airports System, Series 2025C</title>
        <cusip>419794L34</cusip>
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          <isin value="US419794L346"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission, Series 2017</title>
        <cusip>939783VV5</cusip>
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          <isin value="US939783VV59"/>
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        <valUSD>489747.30000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lancaster Municipal Authority</name>
        <lei>N/A</lei>
        <title>Lancaster Municipal Authority, Series 2025A</title>
        <cusip>514350AQ0</cusip>
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          <isin value="US514350AQ06"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>North Carolina Medical Care Commission</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission, Series 2025</title>
        <cusip>65820YUG9</cusip>
        <identifiers>
          <isin value="US65820YUG96"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>259120.95000000</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>5.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Florida Higher Educational Facilities Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Chesapeake Economic Development Authority</name>
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          <isin value="US16532YAD04"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
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          <annualizedRt>3.65000000</annualizedRt>
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        <name>California Community Choice Financing Authority</name>
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          <isin value="US13013JFW18"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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          <isin value="US451889AT65"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wayne County Airport Authority</name>
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          <isin value="US9445142P22"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Savannah Georgia Convention Center Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Central Valley Energy Authority</name>
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          <isin value="US15569DAA00"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Wisconsin Housing &amp; Economic Development Authority Home Ownership Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wayne County Airport Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Houston TX Airport System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Medical Care Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Minnetonka Independent School District No. 276</name>
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        <fairValLevel>2</fairValLevel>
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        <name>York County Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southeast Energy Authority A Cooperative District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pennsylvania Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Colorado Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Transportation Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Washington Health Care Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>California Community Choice Financing Authority</name>
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          <isin value="US13013JHG40"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Rum River Special Education Cooperative</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico Electric Power Authority</name>
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        <invCountry>PR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arizona Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Black Belt Energy Gas District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Small Business Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Berks County Municipal Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Will County Community Unit School District No. 209-U Wilmington</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EP Essential Housing WF PFC</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <invCountry>PR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-07-01</maturityDt>
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        <name>City of Garden City KS</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EP Royal Estates PFC</name>
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          <isin value="US29415NAA54"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Chester County Health and Education Facilities Authority</name>
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        <title>Chester County Health and Education Facilities Authority</title>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Albany Hospital Facility Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alabama Special Care Facilities Financing Authority-Birmingham AL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Michigan State Housing Development Authority</name>
        <lei>549300NSWW1HVXE93T03</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Development Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Vermont Student Assistance Corp.</name>
        <lei>549300VHYVRSKNFRSZ91</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Everett Housing Authority/WA</name>
        <lei>N/A</lei>
        <title>Everett Housing Authority</title>
        <cusip>30002GAG4</cusip>
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          <isin value="US30002GAG47"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Ohio Air Quality Development Authority</name>
        <lei>549300DZUU80AYOR6M80</lei>
        <title>Ohio Air Quality Development Authority, Series 2014C</title>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Palm Beach FL</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Allentown Commercial and Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <name>Delaware State Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
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          <isin value="US65000BLN63"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Pasco FL Solid Waste Disposal &amp; Resource Recovery System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Municipal Electric Authority of Georgia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Memorial City Redevelopment Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Gunnison County Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arizona Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <cusip>63608TBG4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Business Finance Authority</name>
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        <cusip>644684EN8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Cook County Community College District No. 508</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Palm Beach County Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Central Valley Energy Authority</name>
        <lei>254900G5IPQ9MA3FRJ55</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Alaska Housing Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Dorchester SC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Port of Portland OR Airport Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Municipal Electric Authority of Georgia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Department of Housing &amp; Community Affairs</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Health and Education Facilities Authority Act</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Jersey Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Choice Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>South Manvel Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lee County Industrial Development Authority/FL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brook View Infrastructure Financing District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Dowdell Public Utility District/TX</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rogers County Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Topeka KS</name>
        <lei>549300NFEU1XBKVICM54</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Greater Asheville Regional Airport Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California School Finance Authority</name>
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          <isin value="US13058TMY37"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Arizona Industrial Development Authority</name>
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          <isin value="US04052BSW53"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Utah Charter School Finance Authority</name>
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          <isin value="US91754T5S89"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Rhode Island Student Loan Authority</name>
        <lei>N/A</lei>
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          <isin value="US762323DL49"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-01</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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          <isin value="US45204FM850"/>
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        <curCd>USD</curCd>
        <valUSD>691923.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of Pompano Beach FL</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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          <isin value="US64542UHX54"/>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Kalispell MT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brazos Higher Education Authority, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Norman Regional Hospital Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Knox County Health Educational &amp; Housing Facility Board</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Oregon Coast Community College District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Idaho Housing &amp; Finance Association</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Environmental Facilities Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Private Colleges &amp; Universities Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Palm Beach FL Airport System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>South Jersey Transportation Authority</name>
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          <isin value="US838536MH03"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Arizona Industrial Development Authority</name>
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          <isin value="US04052BTS33"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2060-07-01</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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        <name>Energy Southeast A Cooperative District</name>
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          <isin value="US292723CN18"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-09-01</maturityDt>
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        <name>Public Finance Authority</name>
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        <title>Public Finance Authority</title>
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          <isin value="US74442PZG35"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>New York State Dormitory Authority</name>
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          <isin value="US65000B7W22"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Public Finance Authority</name>
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        <title>Public Finance Authority</title>
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          <isin value="US74448FAC59"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.10000000</annualizedRt>
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        <name>New Mexico Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Allentown Neighborhood Improvement Zone Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Indiana Secondary Market for Education Loans, Inc.</name>
        <lei>549300M19IK303TD4597</lei>
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          <isin value="US45505NAH70"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63607WBD5</cusip>
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          <isin value="US63607WBD56"/>
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        <curCd>USD</curCd>
        <valUSD>206204.32000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.16679480</annualizedRt>
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      <invstOrSec>
        <name>City of Farmington NM</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>City of Houston TX Airport System Revenue</name>
        <lei>N/A</lei>
        <title>City of Houston, Series 2023A</title>
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          <isin value="US442349GK61"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1095382.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Multifamily ML Certificates</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series 2024-ML21, Class AUS</title>
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          <isin value="US3137HC2E14"/>
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        <curCd>USD</curCd>
        <valUSD>389928.89000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-25</maturityDt>
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      <invstOrSec>
        <name>STC Metropolitan District No. 2</name>
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          <isin value="US85780TAW36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>County of Owen KY</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Public Finance Authority</name>
        <lei>5493004S6D3NA627K012</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Village of Bellwood IL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Build NYC Resource Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vermont Student Assistance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Housing Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
        <lei>N/A</lei>
        <title>Harris County Cultural Education Facilities Finance Corp., Series 2026A</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Government Nashville &amp; Davidson County Health &amp; Educational Facilities Bonds</name>
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        <title>Metropolitan Government Nashville &amp; Davidson County Health &amp; Educational Facilities Bonds</title>
        <cusip>592041WA1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>South Carolina Jobs-Economic Development Authority</name>
        <lei>5493006X47I9VG3DL112</lei>
        <title>South Carolina Jobs-Economic Development Authority, Series 2025 A</title>
        <cusip>837036HE5</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Business Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chicago O'Hare International Airport</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Finance Authority of Maine</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Westchester County Industrial Development Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Higher Educational Facility Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Colorado Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>EP Cimarron Ventanas PFC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southeast Energy Authority A Cooperative District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pennsylvania Economic Development Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California School Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hanover Area School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lee County Industrial Development Authority/FL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Black Belt Energy Gas District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Berks County Municipal Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arizona Industrial Development Authority</name>
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          <isin value="US04052BTB08"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Idaho Housing &amp; Finance Association</name>
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          <isin value="US45129GLA12"/>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina Medical Care Commission</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Love Field Airport Modernization Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Arlington Higher Education Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Fort Worth TX</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Affordable Housing Opportunities Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Michigan Strategic Fund</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hampshire Business Finance Authority</name>
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        <name>Chicago Board of Education</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Florida Development Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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          <isin value="US79766DVR78"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Maricopa County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Carthage Independent School District</name>
        <lei>N/A</lei>
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          <isin value="US146735FA89"/>
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        <curCd>USD</curCd>
        <valUSD>254959.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Greater Orlando Aviation Authority</name>
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          <isin value="US3922745F94"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Texas Municipal Power Agency</name>
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          <isin value="US882555C785"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Chattanooga Health Educational &amp; Housing Facility Board</name>
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          <isin value="US162410DN10"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Park Creek Metropolitan District</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
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          <isin value="US650116GP57"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Missouri Development Finance Board</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rhode Island Student Loan Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DeKalb County Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tennergy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Colorado Health Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Mount Vernon IL</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Black Belt Energy Gas District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Florida Local Government Finance Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>North Carolina State Education Assistance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Indiana County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Michigan State Housing Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <name>Iowa Student Loan Liquidity Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>South Carolina Jobs-Economic Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Texas Public Finance Authority</name>
        <lei>N/A</lei>
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          <isin value="US88277PAE51"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>North Texas Higher Education Authority, Inc.</name>
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          <isin value="US66286UAK51"/>
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        <curCd>USD</curCd>
        <valUSD>419641.52000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kansas Development Finance Authority</name>
        <lei>549300WTL7BL8KBDPR87</lei>
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          <isin value="US48542XAC56"/>
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        <curCd>USD</curCd>
        <valUSD>176356.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.17000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hanover Area School District</name>
        <lei>N/A</lei>
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          <isin value="US411147PA38"/>
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        <curCd>USD</curCd>
        <valUSD>157786.40000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Municipal Electric Authority of Georgia</name>
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        <curCd>USD</curCd>
        <valUSD>533547.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Los Angeles County Development Authority</name>
        <lei>N/A</lei>
        <title>Los Angeles County Development Authority</title>
        <cusip>54465JAC7</cusip>
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          <isin value="US54465JAC71"/>
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        <balance>221000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222174.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>West Virginia Economic Development Authority</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority</title>
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          <isin value="US95648VBK44"/>
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        <curCd>USD</curCd>
        <valUSD>327743.66000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Hampshire Business Finance Authority</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Washoe NV</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. IV</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Austin Convention Enterprises, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Connecticut Housing Finance Authority</name>
        <lei>5493003DXX0NRJKSH186</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Austin Convention Enterprises, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Minnetonka Independent School District No. 276</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Main Street Natural Gas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Washington State Housing Finance Commission</name>
        <lei>549300YL1HU59NREG764</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>City of Lavon TX</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bristol Township School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Finance Authority</name>
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          <isin value="US45203H5E85"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-15</maturityDt>
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        <name>Klickitat County Public Utility District No. 1</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Indiana Secondary Market for Education Loans, Inc.</name>
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          <isin value="US45505NAS36"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Buckeye Tobacco Settlement Financing Authority</name>
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        <title>Buckeye Tobacco Settlement Financing Authority</title>
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          <isin value="US118217CR71"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Illinois Finance Authority</name>
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          <isin value="US45203EAG44"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-01</maturityDt>
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        <name>Main Street Natural Gas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Beach Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>District of Columbia</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kentucky Public Energy Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Delaware State Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wisconsin Health &amp; Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Las Varas Public Facility Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Infirmary Health System Special Care Facilities Financing Authority of Mobile</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Black Belt Energy Gas District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Miami-Dade Seaport Department</name>
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        <name>Middle-Income Housing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Tempe Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Alaska Railroad Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Main Street Natural Gas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Atlanta Development Authority (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>New York Transportation Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>West Central Ohio Port Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Toll Road Investors Partnership II LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Development Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Galveston TX Wharves &amp; Terminal Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California School Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Territory of Guam</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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          <isin value="US74444VBL36"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Brazos Higher Education Authority, Inc.</name>
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          <isin value="US10623ACS06"/>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Warren OH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Housing Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Utah Housing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Philadelphia PA Airport Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FW Ramble Public Facility Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Private Activity Bond Surface Transportation Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Toll Road Investors Partnership II LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mississippi Home Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Finance Authority</name>
        <lei>549300ZG6UBPNNNRN315</lei>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Doylestown Hospital Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Middleton Community Development District A</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Metropolitan Washington Airports Authority Aviation Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Waco Independent School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mississippi Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Genesee County Funding Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>New York City Housing Development Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Grand Parkway Transportation Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sierra Vista Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Development Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Build NYC Resource Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Small Business Financing Authority</name>
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        <name>Build NYC Resource Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Central Texas Regional Mobility Authority</name>
        <lei>N/A</lei>
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          <isin value="US155498HB76"/>
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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>Chicago Board of Education Dedicated Capital Improvement Tax</name>
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          <isin value="US167510AE61"/>
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        <curCd>USD</curCd>
        <valUSD>462162.16000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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      <invstOrSec>
        <name>Wayne County Airport Authority</name>
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          <isin value="US944514T998"/>
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        <curCd>USD</curCd>
        <valUSD>766908.17000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Waco Independent School District</name>
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          <isin value="US929845VT92"/>
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        <curCd>USD</curCd>
        <valUSD>94440.02000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-15</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>District of Columbia Housing Finance Agency</name>
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          <isin value="US25477TBB26"/>
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        <curCd>USD</curCd>
        <valUSD>113644.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Pennsylvania Economic Development Financing Authority Parking System Revenue</name>
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        <title>Pennsylvania Economic Development Financing Authority Parking System, Series 2024 C</title>
        <cusip>70870EFH7</cusip>
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          <isin value="US70870EFH71"/>
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        <curCd>USD</curCd>
        <valUSD>1090074.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Atlanta Urban Residential Finance Authority</name>
        <lei>N/A</lei>
        <title>Atlanta Urban Residential Finance Authority, Series 2024A</title>
        <cusip>04785WAA0</cusip>
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          <isin value="US04785WAA09"/>
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        <curCd>USD</curCd>
        <valUSD>1038786.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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        <name>Industrial Development Authority of the City of Phoenix Arizona (The)</name>
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          <isin value="US71884RAA05"/>
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        <valUSD>1599841.44000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>3.00000070</annualizedRt>
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        <name>Tennessee Energy Acquisition Corp.</name>
        <lei>549300OJ2Z8PGEY46K92</lei>
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        <cusip>880443JM9</cusip>
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          <isin value="US880443JM96"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Charleston Housing Authority/SC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Finance Authority of Maine</name>
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          <isin value="US56042TEP93"/>
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        <fairValLevel>2</fairValLevel>
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        <name>New Hope Cultural Education Facilities Finance Corp.</name>
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          <isin value="US64542UGZ12"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Illinois Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Houston TX Airport System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>New York State Energy Research &amp; Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern California Public Power Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Pasco FL Solid Waste Disposal &amp; Resource Recovery System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lehigh County General Purpose Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Air Quality Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arkansas Development Finance Authority</name>
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        <name>Charlotte County Industrial Development Authority/FL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Travis County Housing Finance Corp.</name>
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        <name>Louisa Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Oregon Health &amp; Science University</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Municipal Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Grand River Hospital District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Black Belt Energy Gas District</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>EHOVE Joint Vocational School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tulsa County Home Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Massachusetts Development Finance Agency</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Choice Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lamar Consolidated Independent School District</name>
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        <curCd>USD</curCd>
        <valUSD>103103.81000000</valUSD>
        <pctVal>0.026714903259</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sterling Ranch Community Authority Board</name>
        <lei>N/A</lei>
        <title>Sterling Ranch Community Authority Board, Series 2025A</title>
        <cusip>85950NBW9</cusip>
        <identifiers>
          <isin value="US85950NBW92"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>262157.55000000</valUSD>
        <pctVal>0.067926816544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3P0</cusip>
        <identifiers>
          <isin value="US74514L3P07"/>
        </identifiers>
        <balance>42214.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36226.71000000</valUSD>
        <pctVal>0.009386588653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Tazewell County School District No. 52 Washington</name>
        <lei>549300QOXDTJ5PAYVW27</lei>
        <title>Tazewell County School District No. 52 Washington, Series 2025</title>
        <cusip>877690EH6</cusip>
        <identifiers>
          <isin value="US877690EH60"/>
        </identifiers>
        <balance>225000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>262293.21000000</valUSD>
        <pctVal>0.067961966979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>New York Transportation Development Corp.</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp.</title>
        <cusip>650116DM5</cusip>
        <identifiers>
          <isin value="US650116DM53"/>
        </identifiers>
        <balance>270000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285824.43000000</valUSD>
        <pctVal>0.074059067231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Texas Municipal Gas Acquisition &amp; Supply Corp. VI</name>
        <lei>254900OCOQCKZZ4U6C83</lei>
        <title>Texas Municipal Gas Acquisition &amp; Supply Corp. VI, Series 2025</title>
        <cusip>88256FAK8</cusip>
        <identifiers>
          <isin value="US88256FAK84"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1592662.95000000</valUSD>
        <pctVal>0.412669877415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts Development Finance Agency</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency, Series 2026H</title>
        <cusip>57585BSM1</cusip>
        <identifiers>
          <isin value="US57585BSM18"/>
        </identifiers>
        <balance>1750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1906725.63000000</valUSD>
        <pctVal>0.494045668606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Adams &amp; Arapahoe Counties Joint School District 28J Aurora</name>
        <lei>N/A</lei>
        <title>Adams &amp; Arapahoe Counties Joint School District 28J Aurora</title>
        <cusip>005484DA5</cusip>
        <identifiers>
          <isin value="US005484DA58"/>
        </identifiers>
        <balance>540000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>583515.04000000</valUSD>
        <pctVal>0.151192742963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Savannah Georgia Convention Center Authority</name>
        <lei>N/A</lei>
        <title>Savannah Georgia Convention Center Authority, Series 2025B</title>
        <cusip>804828AD3</cusip>
        <identifiers>
          <isin value="US804828AD34"/>
        </identifiers>
        <balance>865000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>869565.21000000</valUSD>
        <pctVal>0.225310300974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3T2</cusip>
        <identifiers>
          <isin value="US74514L3T29"/>
        </identifiers>
        <balance>149060.84000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99870.76000000</valUSD>
        <pctVal>0.025877197863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Puerto Rico</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Commonwealth of Puerto Rico</title>
        <cusip>74514L3J4</cusip>
        <identifiers>
          <isin value="US74514L3J47"/>
        </identifiers>
        <balance>40810.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44554.82000000</valUSD>
        <pctVal>0.011544458987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Municipal Series Trust</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
