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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK CITY NY MUNI WTR FIN AUTH WTR &amp; SWR SYS REVENUE</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>New York City Municipal Water Finance Authority</title>
        <cusip>64972GU28</cusip>
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          <isin value="US64972GU289"/>
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        <curCd>USD</curCd>
        <valUSD>2200000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>MIZUHO FLOATER/RESIDUAL TRUST VARIOUS STATES</name>
        <lei>N/A</lei>
        <title>Mizuho Floater/Residual Trust</title>
        <cusip>60700HD89</cusip>
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          <isin value="US60700HD894"/>
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        <curCd>USD</curCd>
        <valUSD>2530000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.32000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BARTOW-CARTERSVILLE GA JT DEV AUTH REVENUE</name>
        <lei>N/A</lei>
        <title>Bartow-Cartersville Joint Development Authority</title>
        <cusip>06962PCD7</cusip>
        <identifiers>
          <isin value="US06962PCD78"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12000000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.44000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDIANA ST FIN AUTH ENVRNMNTL REVENUE</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority</title>
        <cusip>455054AD8</cusip>
        <identifiers>
          <isin value="US455054AD89"/>
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        <balance>19900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19900000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.45000000</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>CRAWFORD CNTY IA MEMORIAL HOSP REVENUE</name>
        <lei>N/A</lei>
        <title>Crawford County Memorial Hospital Inc</title>
        <cusip>224832BA2</cusip>
        <identifiers>
          <isin value="US224832BA23"/>
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        <balance>2515000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2526215.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW MEXICO ST MTGE FIN AUTH</name>
        <lei>N/A</lei>
        <title>New Mexico Mortgage Finance Authority</title>
        <cusip>64720AAB8</cusip>
        <identifiers>
          <isin value="US64720AAB89"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1500011.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-09-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.00000000</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>CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
        <cusip>130536QW8</cusip>
        <identifiers>
          <isin value="US130536QW85"/>
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        <balance>1250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1252646.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHOENIX AZ INDL DEV AUTH SOL WST REVENUE</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>Industrial Development Authority of the City of Phoenix/The</title>
        <cusip>71884RAA0</cusip>
        <identifiers>
          <isin value="US71884RAA05"/>
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        <balance>12100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12100000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BlackRock Liquidity Funds MuniCash</name>
        <lei>549300RWBJ885673DL84</lei>
        <title>BlackRock Liquidity Funds MuniCash</title>
        <cusip>09248U841</cusip>
        <identifiers>
          <isin value="US09248U8412"/>
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        <balance>100371.19000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100381.22000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARYLAND ST INDL DEV FING AUTH PORT FACS REVENUE</name>
        <lei>N/A</lei>
        <title>Maryland Industrial Development Financing Authority</title>
        <cusip>574076AA3</cusip>
        <identifiers>
          <isin value="US574076AA35"/>
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        <balance>49905000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49905000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.23000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IOWA ST FIN AUTH SOL WST DISP REVENUE</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>Iowa Finance Authority</title>
        <cusip>46245EAW7</cusip>
        <identifiers>
          <isin value="US46245EAW75"/>
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        <balance>6630000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6630000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.33000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048RAT4</cusip>
        <identifiers>
          <isin value="US13048RAT41"/>
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        <balance>4500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4496973.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEXAS ST MUNI GAS ACQUISITION &amp; SPLY CORP V GAS SPLY REVENUE</name>
        <lei>254900XZ4J30QIJO9G03</lei>
        <title>Texas Municipal Gas Acquisition &amp; Supply Corp V</title>
        <cusip>88256RAM8</cusip>
        <identifiers>
          <isin value="US88256RAM88"/>
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        <balance>305000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>313828.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BERKELEY CNTY SC INDL DEV REVENUE</name>
        <lei>N/A</lei>
        <title>County of Berkeley SC</title>
        <cusip>084185DC8</cusip>
        <identifiers>
          <isin value="US084185DC87"/>
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        <balance>4105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4105000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MIZUHO FLOATER/RESIDUAL TRUST VARIOUS STATES</name>
        <lei>N/A</lei>
        <title>Mizuho Floater/Residual Trust</title>
        <cusip>60700HE88</cusip>
        <identifiers>
          <isin value="US60700HE884"/>
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        <balance>2523878.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2523878.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.32000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
        <cusip>130536RL1</cusip>
        <identifiers>
          <isin value="US130536RL12"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>999541.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>NEW YORK ST ENVRNMNTL FACS CORP SOL WST DISP REVENUE</name>
        <lei>549300QJ33JJW73OQO60</lei>
        <title>New York State Environmental Facilities Corp</title>
        <cusip>649852AN0</cusip>
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          <isin value="US649852AN06"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
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          <isin value="US65000B5U83"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>California Pollution Control Financing Authority</title>
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          <isin value="US130536RN77"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE</name>
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        <title>Black Belt Energy Gas District</title>
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          <isin value="US09182TGN19"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE</name>
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        <title>New York City Housing Development Corp</title>
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          <isin value="US64972E3D99"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-11-01</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV</name>
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        <title>Pennsylvania Economic Development Financing Authority</title>
        <cusip>708692BV9</cusip>
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          <isin value="US708692BV94"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>POUGHKEEPSIE CITY NY</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHATTANOOGA TN HLTH EDUCTNL &amp; HSG FAC BRD REVENUE</name>
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        <cusip>162410CB8</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV</name>
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        <title>Pennsylvania Economic Development Financing Authority</title>
        <cusip>708692CB2</cusip>
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          <isin value="US708692CB22"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.88000000</annualizedRt>
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      <invstOrSec>
        <name>PEFA INC IA GAS PROJ REVENUE</name>
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          <isin value="US70556CAB00"/>
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        <curCd>USD</curCd>
        <valUSD>25144165.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PORT OF PORT ARTHUR TX NAV DIST</name>
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        <title>Port of Port Arthur Navigation District</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>IOWA ST FIN AUTH SOL WST FACSREVENUE</name>
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        <title>Iowa Finance Authority</title>
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          <isin value="US46246YAA01"/>
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        <fairValLevel>2</fairValLevel>
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        <name>PORT OF CORPUS CHRISTI TX AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC FIN AUTH WI SOL WST DISP REVENUE</name>
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        <title>Public Finance Authority</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</name>
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        <title>California Municipal Finance Authority</title>
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          <isin value="US13048RAH03"/>
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        <fairValLevel>2</fairValLevel>
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        <name>HARRIS CNTY TX CULTURAL EDU FACS FIN CORP MED FACS REVENUE</name>
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        <title>Harris County Cultural Education Facilities Finance Corp</title>
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          <isin value="US414008CX87"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FLORIDA ST HSG FIN CORP MF MTGE REVENUE</name>
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        <title>Florida Housing Finance Corp</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.08000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <cusip>56035DBG6</cusip>
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          <isin value="US56035DBG60"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AUSTIN TX ARPT SYS REVENUE</name>
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          <isin value="US052398HY38"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE</name>
        <lei>549300NY5M0QVZ6X4U26</lei>
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        <cusip>56035DCR1</cusip>
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          <isin value="US56035DCR17"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>MISSION TX ECON DEV CORP SOL WST DISP REVENUE</name>
        <lei>N/A</lei>
        <title>Mission Economic Development Corp</title>
        <cusip>605155BQ2</cusip>
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          <isin value="US605155BQ24"/>
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        <curCd>USD</curCd>
        <valUSD>3000000.00000000</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>MEADE CNTY KY INDL BLDG REVENUE</name>
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          <isin value="US583022AD04"/>
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        <curCd>USD</curCd>
        <valUSD>24800000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048RAJ6</cusip>
        <identifiers>
          <isin value="US13048RAJ68"/>
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        <balance>7250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7244610.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>KENTUCKY ST ECON DEV FIN AUTH SOL WST DISP REVENUE</name>
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        <title>Kentucky Economic Development Finance Authority</title>
        <cusip>49126RAC0</cusip>
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          <isin value="US49126RAC07"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3500000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035RQ56</cusip>
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          <isin value="US88035RQ563"/>
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        <curCd>USD</curCd>
        <valUSD>600000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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        <name>NEWARK NJ</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>HLTH CARE AUTH FOR BAPTIST HLTH AL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LEWISBURG TN INDL DEV BRD SOL WST DISP REVENUE</name>
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          <isin value="US528236AC69"/>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO ST HOSP REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MIAMI-DADE CNTY FL INDL DEV AUTH SOL WST DISP REVENUE</name>
        <lei>549300RM19LZY32DAU30</lei>
        <title>Miami-Dade County Industrial Development Authority</title>
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          <isin value="US59333GAL23"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
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      <invstOrSec>
        <name>MISSOURI ST DEV FIN BRD CULTURAL FACS REVENUE</name>
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        <title>Missouri Development Finance Board</title>
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          <isin value="US606037AW94"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>IOWA ST FIN AUTH SOL WST DISPREVENUE</name>
        <lei>549300NQVL49BTHOW391</lei>
        <title>Iowa Finance Authority</title>
        <cusip>46245EAY3</cusip>
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        <name>abrdn Ultra Short Municipal Income Active ETF</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GUTHRIE CNTY HOSP IA HOSP REVENUE</name>
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        <valUSD>3842325.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV</name>
        <lei>N/A</lei>
        <title>Pennsylvania Economic Development Financing Authority</title>
        <cusip>708692BZ0</cusip>
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          <isin value="US708692BZ09"/>
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        <curCd>USD</curCd>
        <valUSD>501111.35000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>PORT OF PORT ARTHUR TX NAV DIST</name>
        <lei>N/A</lei>
        <title>Port of Port Arthur Navigation District</title>
        <cusip>735220AT2</cusip>
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          <isin value="US735220AT28"/>
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        <curCd>USD</curCd>
        <valUSD>3300000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>WEST VIRGINIA ST ECON DEV AUTH SOL WST DISP FACS</name>
        <lei>549300WW88TKKF5H1220</lei>
        <title>West Virginia Economic Development Authority</title>
        <cusip>95648VBZ1</cusip>
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          <isin value="US95648VBZ13"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10000000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.47000000</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>CENTRL BRADFORD PROGRESS AUTHPA</name>
        <lei>N/A</lei>
        <title>Central Bradford Progress Authority</title>
        <cusip>152691BE0</cusip>
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          <isin value="US152691BE06"/>
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        <balance>21355000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21355000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.71000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048RAK3</cusip>
        <identifiers>
          <isin value="US13048RAK32"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1499437.80000000</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>2051-07-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEXAS ST MUNI GAS ACQUISITION &amp; SPLY CORP VI GAS SPLY REV</name>
        <lei>254900OCOQCKZZ4U6C83</lei>
        <title>Texas Municipal Gas Acquisition &amp; Supply Corp VI</title>
        <cusip>88256FAA0</cusip>
        <identifiers>
          <isin value="US88256FAA03"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252636.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OHIO ST HOSP REVENUE</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio</title>
        <cusip>67756CFG8</cusip>
        <identifiers>
          <isin value="US67756CFG87"/>
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        <balance>3700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3700000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.35000000</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>LOUISVILLE &amp; JEFFERSON CNTY KY REGL ARPT AUTH</name>
        <lei>N/A</lei>
        <title>Louisville Regional Airport Authority</title>
        <cusip>546598AA1</cusip>
        <identifiers>
          <isin value="US546598AA16"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1600000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>KENTUCKY ST ECON DEV FIN AUTH</name>
        <lei>N/A</lei>
        <title>Kentucky Economic Development Finance Authority</title>
        <cusip>49126KJU6</cusip>
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          <isin value="US49126KJU60"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1701722.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035PHF8</cusip>
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          <isin value="US88035PHF80"/>
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        <valUSD>16970000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>CUMBERLAND CNTY NC INDL FACS &amp; POLL CONTROL FING AUTH SOL WS</name>
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          <isin value="US230589AB90"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>3.13000000</annualizedRt>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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          <isin value="US88035TNX45"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
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        <name>OHIO CNTY WV CNTY COMMISSION SPL DIST EXCISE TAX REVENUE</name>
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          <isin value="US67732PEJ30"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PORT OF CORPUS CHRISTI TX AUTH</name>
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          <isin value="US733908AQ09"/>
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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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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>GLEN COVE NY</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-04</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MEADE CNTY KY INDL BLDG REVENUE</name>
        <lei>N/A</lei>
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          <isin value="US583022AE86"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Floating</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITIZENS MO MEMORIAL HOSP DIST POLK CNTY</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PORT OF PORT ARTHUR TX NAV DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <isin value="US67884XCU90"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MIAMI-DADE CNTY FL INDL DEV AUTH SOL WST DISP REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RED CEDAR WI INDL DEV REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>WEST VIRGINIA ST HOSP FIN AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MISSION TX ECON DEV CORP SOL WST DISP 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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        <fairValLevel>2</fairValLevel>
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        <name>MISSION TX ECON DEV CORP SOL WST DISP REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PHILADELPHIA PA AUTH FOR INDLDEV REVENUES</name>
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        <fairValLevel>2</fairValLevel>
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        <name>MISSISSIPPI ST BUSINESS FIN CORP GULF OPPORTUNITY ZONE REVEN</name>
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        <title>Mississippi Business Finance Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MISSISSIPPI ST BUSINESS FIN CORP</name>
        <lei>549300DYV074JUDKBQ77</lei>
        <title>Mississippi Business Finance Corp</title>
        <cusip>605279MJ4</cusip>
        <identifiers>
          <isin value="US605279MJ47"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
        <pctVal>0.044799215518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.48000000</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>DODGE CITY KS INDL REVENUE</name>
        <lei>N/A</lei>
        <title>City of Dodge City KS</title>
        <cusip>256335GL8</cusip>
        <identifiers>
          <isin value="US256335GL86"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000000.00000000</valUSD>
        <pctVal>0.089598431036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.47000000</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>BLOUNT CNTY TN PUBLIC BLDG AUTH</name>
        <lei>549300RHIJ2ZP4C8W404</lei>
        <title>Public Building Authority of Blount County Tennessee/The</title>
        <cusip>095175EY7</cusip>
        <identifiers>
          <isin value="US095175EY70"/>
        </identifiers>
        <balance>19510000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19510000.00000000</valUSD>
        <pctVal>1.748065389514</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.38000000</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>BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE</name>
        <lei>549300I8V0Z68JQCB679</lei>
        <title>Black Belt Energy Gas District</title>
        <cusip>09182NCB4</cusip>
        <identifiers>
          <isin value="US09182NCB47"/>
        </identifiers>
        <balance>2500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2526050.75000000</valUSD>
        <pctVal>0.226330183917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Floating</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>CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California Municipal Finance Authority</title>
        <cusip>13048RAR8</cusip>
        <identifiers>
          <isin value="US13048RAR84"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>999547.90000000</valUSD>
        <pctVal>0.089557923585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.88000000</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>PHILADELPHIA PA</name>
        <lei>549300IVFOPB4AG7UL47</lei>
        <title>City of Philadelphia PA</title>
        <cusip>717813LJ6</cusip>
        <identifiers>
          <isin value="US717813LJ69"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5000000.00000000</valUSD>
        <pctVal>0.447992155180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.15000000</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>CHANDLER AZ INDL DEV AUTH INDL DEV REVENUE</name>
        <lei>N/A</lei>
        <title>Chandler Industrial Development Authority</title>
        <cusip>158862CA8</cusip>
        <identifiers>
          <isin value="US158862CA82"/>
        </identifiers>
        <balance>2200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2226819.54000000</valUSD>
        <pctVal>0.199519536984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Floating</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>TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES</name>
        <lei>N/A</lei>
        <title>Tender Option Bond Trust Receipts/Certificates</title>
        <cusip>88035PNZ7</cusip>
        <identifiers>
          <isin value="US88035PNZ70"/>
        </identifiers>
        <balance>5555000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5555000.00000000</valUSD>
        <pctVal>0.497719284405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.19000000</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>FLORIDA INSURANCE ASSISTANCE INTERLOCAL AGY</name>
        <lei>N/A</lei>
        <title>Florida Insurance Assistance Interlocal Agency Inc</title>
        <cusip>34074EAF6</cusip>
        <identifiers>
          <isin value="US34074EAF60"/>
        </identifiers>
        <balance>27000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27000000.00000000</valUSD>
        <pctVal>2.419157637975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.83000000</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>JOHNSON CITY NY</name>
        <lei>549300LRO82Q9UD0VD27</lei>
        <title>Village of Johnson City NY</title>
        <cusip>478232RC7</cusip>
        <identifiers>
          <isin value="US478232RC70"/>
        </identifiers>
        <balance>4750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4751461.58000000</valUSD>
        <pctVal>0.425723502696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</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>MONTGOMERY CNTY PA HGR EDU &amp; HLTH AUTH</name>
        <lei>N/A</lei>
        <title>Montgomery County Higher Education and Health Authority</title>
        <cusip>613603ZL6</cusip>
        <identifiers>
          <isin value="US613603ZL64"/>
        </identifiers>
        <balance>12400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12400000.00000000</valUSD>
        <pctVal>1.111020544847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.90000000</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>DIST OF COLUMBIA</name>
        <lei>549300HWFOZXPKGOX654</lei>
        <title>District of Columbia</title>
        <cusip>25476FJ74</cusip>
        <identifiers>
          <isin value="US25476FJ748"/>
        </identifiers>
        <balance>19000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19000000.00000000</valUSD>
        <pctVal>1.702370189686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.27000000</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>MISSISSIPPI ST BUSINESS FIN COMMISSION GULF OPPORTUNITY ZONE</name>
        <lei>549300DYV074JUDKBQ77</lei>
        <title>Mississippi Business Finance Corp</title>
        <cusip>60528ACA0</cusip>
        <identifiers>
          <isin value="US60528ACA07"/>
        </identifiers>
        <balance>4810000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4810000.00000000</valUSD>
        <pctVal>0.430968453283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.45000000</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>MISSISSIPPI ST BUSINESS FIN CORP</name>
        <lei>549300DYV074JUDKBQ77</lei>
        <title>Mississippi Business Finance Corp</title>
        <cusip>605279GX0</cusip>
        <identifiers>
          <isin value="US605279GX05"/>
        </identifiers>
        <balance>52825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52825000.00000000</valUSD>
        <pctVal>4.733037119482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.22000000</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="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-14</ncom:dateSigned>
      <ncom:nameOfApplicant>abrdn Funds</ncom:nameOfApplicant>
      <ncom:signature>Michael Marsico</ncom:signature>
      <ncom:signerName>Michael Marsico</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
