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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>County of Allen OH Hospital Facilities Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Altmar-Parish-Williamstown Central School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Alvin Independent School District/TX</name>
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        <fairValLevel>2</fairValLevel>
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        <name>American Municipal Power, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arkansas Development Finance Authority</name>
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        <name>Arlington Independent School District/TX</name>
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        <name>City of Atlanta GA</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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        <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>Dallas Area Rapid Transit</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>Denver City and County School District No. 1</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FYI Properties</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Fairfax County Industrial Development Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Florence Independent School 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>Florida Local Government Finance Commission</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Florida Lottery Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Florida Department of Management Services</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Florida Department of Transportation</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Georgetown TX Utility System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City of Gloucester City NJ</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Golden State Tobacco Securitization Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gouverneur Central School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Grand River Dam Authority</name>
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          <isin value="US386442VJ37"/>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Grand River Dam Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Grand River Dam Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Great Lakes Water Authority Water Supply 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>Great Lakes Water Authority Water Supply System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Greater Orlando Aviation Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Territory of Guam</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>County of Hamilton OH</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Hamilton OH Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <name>Harris County Cultural Education Facilities Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>County of Harris TX Toll Road Revenue</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>County of Harris TX Toll Road Revenue</name>
        <lei>N/A</lei>
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          <isin value="US41423PCV76"/>
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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>Town of Hatfield MA</name>
        <lei>N/A</lei>
        <title>Town of Hatfield</title>
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          <isin value="US418866DH96"/>
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        <curCd>USD</curCd>
        <valUSD>4006240.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>County of Hawaii HI</name>
        <lei>N/A</lei>
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          <isin value="US419722L438"/>
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        <curCd>USD</curCd>
        <valUSD>50085.33000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</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>State of Hawaii</name>
        <lei>N/A</lei>
        <title>State of Hawaii, Series FH</title>
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          <isin value="US419792MK97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Hawaii</name>
        <lei>N/A</lei>
        <title>State of Hawaii, Series FK</title>
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          <isin value="US419792RG31"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>County of Hays TX</name>
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          <isin value="US421020B319"/>
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        <valUSD>25384.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Henry County Hospital Authority</name>
        <lei>N/A</lei>
        <title>Henry County Hospital Authority, Piedmont Henry Hospital Project, Series 2014A</title>
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        <identifiers>
          <isin value="US426357GG85"/>
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        <valUSD>1391719.85000000</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>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Highland Park Independent School District/Dallas County</name>
        <lei>N/A</lei>
        <title>Highland Park Independent School District, Series 2024</title>
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          <isin value="US430686RR83"/>
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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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hillsborough County Industrial Development Authority</name>
        <lei>N/A</lei>
        <title>Hillsborough County Industrial Development Authority, Baycare Health System, Series 2024E</title>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Township of Hillside NJ</name>
        <lei>N/A</lei>
        <title>Township of Hillside, Series 2025</title>
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          <isin value="US432673HN49"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>City &amp; County of Honolulu HI</name>
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        <fairValLevel>2</fairValLevel>
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        <name>City &amp; County of Honolulu HI</name>
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          <isin value="US438687UF01"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>City &amp; County Honolulu HI Wastewater System Revenue</name>
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          <isin value="US438701G991"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Hornell City School District</name>
        <lei>N/A</lei>
        <title>Hornell City School District, Series 2025</title>
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          <isin value="US440614LQ60"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>City of Houston TX</name>
        <lei>549300C64URYS0WQQY42</lei>
        <title>City of Houston, Public Improvement, Series 2019A</title>
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          <isin value="US4423314Y74"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>City of Houston TX</name>
        <lei>549300C64URYS0WQQY42</lei>
        <title>City of Houston, Series 2017A</title>
        <cusip>442331U44</cusip>
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          <isin value="US442331U448"/>
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        <balance>265000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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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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        <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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        <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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        <fairValLevel>2</fairValLevel>
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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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>N/A</lei>
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        <name>County of Montgomery TX</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of North Carolina</name>
        <lei>N/A</lei>
        <title>State of North Carolina, Series 2018A</title>
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          <isin value="US6582563L45"/>
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        <curCd>USD</curCd>
        <valUSD>50000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of North Carolina</name>
        <lei>N/A</lei>
        <title>State of North Carolina, Series 2016A</title>
        <cusip>658256Z54</cusip>
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          <isin value="US658256Z544"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of North Carolina</name>
        <lei>N/A</lei>
        <title>State of North Carolina, Limited Obligation, Series 2017B</title>
        <cusip>65829QCY8</cusip>
        <identifiers>
          <isin value="US65829QCY89"/>
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        <balance>525000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>535866.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Harris County Regional Water Authority</name>
        <lei>N/A</lei>
        <title>North Harris County Regional Water Authority, Senior Lien, Series 2016</title>
        <cusip>65956NGQ3</cusip>
        <identifiers>
          <isin value="US65956NGQ34"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75902.04000000</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>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Harris County Regional Water Authority</name>
        <lei>N/A</lei>
        <title>North Harris County Regional Water Authority, Senior Lien, Series 2016</title>
        <cusip>65956NGR1</cusip>
        <identifiers>
          <isin value="US65956NGR17"/>
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        <balance>530000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>536346.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Harris County Regional Water Authority</name>
        <lei>N/A</lei>
        <title>North Harris County Regional Water Authority, Senior Lien, Series 2016</title>
        <cusip>65956NGS9</cusip>
        <identifiers>
          <isin value="US65956NGS99"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>192216.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Middlesex Regional School District/MA</name>
        <lei>N/A</lei>
        <title>North Middlesex Regional School District</title>
        <cusip>661139NU5</cusip>
        <identifiers>
          <isin value="US661139NU51"/>
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        <balance>5700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5732067.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Borough of North Slope AK</name>
        <lei>N/A</lei>
        <title>Borough of North Slope, Series 2025</title>
        <cusip>662523X53</cusip>
        <identifiers>
          <isin value="US662523X538"/>
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        <balance>2875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2948031.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority, Second Tier, Series 2019B</title>
        <cusip>66285WZJ8</cusip>
        <identifiers>
          <isin value="US66285WZJ88"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75927.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>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>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority, Second Tier, Series 2019B</title>
        <cusip>66285WZL3</cusip>
        <identifiers>
          <isin value="US66285WZL35"/>
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        <balance>215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>227446.69000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Northern Illinois Municipal Power Agency</name>
        <lei>VWCV6ROJUT9NS55JU583</lei>
        <title>Northern Illinois Municipal Power Agency, Series 2016A</title>
        <cusip>665250CK0</cusip>
        <identifiers>
          <isin value="US665250CK01"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>176889.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Northern Illinois Municipal Power Agency</name>
        <lei>VWCV6ROJUT9NS55JU583</lei>
        <title>Northern Illinois Municipal Power Agency, Series 2016A</title>
        <cusip>665250CN4</cusip>
        <identifiers>
          <isin value="US665250CN40"/>
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        <balance>1185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1196218.28000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Infrastructure Improvement, Series 2020B</title>
        <cusip>6775222S2</cusip>
        <identifiers>
          <isin value="US6775222S25"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4016140.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <cusip>677522BX1</cusip>
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          <isin value="US677522BX12"/>
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        <curCd>USD</curCd>
        <valUSD>140990.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>State of Ohio</name>
        <lei>5493005LEB5E170OMX59</lei>
        <title>State of Ohio, Infrastructure Improvement, Series 2025A</title>
        <cusip>677523KL5</cusip>
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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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        <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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      </invstOrSec>
      <invstOrSec>
        <name>Orange County School Board</name>
        <lei>549300SEFJ368NVQXL34</lei>
        <title>Orange County School Board, Series 2017B</title>
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          <isin value="US684517SD85"/>
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        <curCd>USD</curCd>
        <valUSD>2245551.98000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Orange County School Board</name>
        <lei>549300SEFJ368NVQXL34</lei>
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          <isin value="US684517SH99"/>
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        <curCd>USD</curCd>
        <valUSD>89188.37000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange County Convention Center/Orlando</name>
        <lei>N/A</lei>
        <title>Orange County Convention Center, Series 2017</title>
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        <identifiers>
          <isin value="US684545A715"/>
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        <curCd>USD</curCd>
        <valUSD>564134.48000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange County Public Facilities Co.</name>
        <lei>N/A</lei>
        <title>Orange County Public Facilities Co., Series 2017</title>
        <cusip>684618CM1</cusip>
        <identifiers>
          <isin value="US684618CM15"/>
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        <curCd>USD</curCd>
        <valUSD>176380.16000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Town of Orange MA</name>
        <lei>N/A</lei>
        <title>Town of Orange</title>
        <cusip>685066EW8</cusip>
        <identifiers>
          <isin value="US685066EW80"/>
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        <balance>2900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2921468.99000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>State of Oregon Department of Transportation</name>
        <lei>N/A</lei>
        <title>State of Oregon Department of Transportation, Series A</title>
        <cusip>68607DSW6</cusip>
        <identifiers>
          <isin value="US68607DSW64"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>227440.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>State of Oregon</name>
        <lei>549300R5SUGZRD8KP359</lei>
        <title>State of Oregon, Article XI-M Seismic Project &amp; Article XI-Q State Project, Series F</title>
        <cusip>68609BSM0</cusip>
        <identifiers>
          <isin value="US68609BSM09"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30037.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>State of Oregon</name>
        <lei>549300R5SUGZRD8KP359</lei>
        <title>State of Oregon, Article XI-G Project, Series 2025G</title>
        <cusip>68609USA4</cusip>
        <identifiers>
          <isin value="US68609USA42"/>
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        <curCd>USD</curCd>
        <valUSD>3498528.26000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Orlando Utilities Commission</name>
        <lei>549300EJR7JVMRXL5D66</lei>
        <title>Orlando Utilities Commission, Series 2020A</title>
        <cusip>686507JP0</cusip>
        <identifiers>
          <isin value="US686507JP06"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25804.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Owego Apalachin Central School District</name>
        <lei>N/A</lei>
        <title>Owego Apalachin Central School District, Series 2025A</title>
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          <isin value="US690632HU19"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <name>Owego Apalachin Central School District</name>
        <lei>N/A</lei>
        <title>Owego Apalachin Central School District, Series 2025B</title>
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          <isin value="US690632HV91"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Beach County School District</name>
        <lei>N/A</lei>
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          <isin value="US696550C261"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Beach County School District</name>
        <lei>N/A</lei>
        <title>Palm Beach County School District, Series 2018A</title>
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          <isin value="US696550D822"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Palm Beach County School District</name>
        <lei>N/A</lei>
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          <isin value="US696550F314"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Palm Beach County School District</name>
        <lei>N/A</lei>
        <title>Palm Beach County School District, Series 2018C</title>
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          <isin value="US696550G635"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Beach County School District</name>
        <lei>N/A</lei>
        <title>Palm Beach County School District, Series 2022B</title>
        <cusip>696550J45</cusip>
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          <isin value="US696550J456"/>
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        <balance>190000.00000000</balance>
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        <valUSD>190683.05000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Beach County Solid Waste Authority</name>
        <lei>N/A</lei>
        <title>Palm Beach County Solid Waste Authority, Series 2015</title>
        <cusip>696560KB6</cusip>
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          <isin value="US696560KB69"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80543.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>City of Palm Coast FL Utility Revenue</name>
        <lei>N/A</lei>
        <title>City of Palm Coast Utility System, Series 2026</title>
        <cusip>69661KDV9</cusip>
        <identifiers>
          <isin value="US69661KDV98"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3224747.10000000</valUSD>
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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>Pennsylvania Economic Development Financing Authority</name>
        <lei>N/A</lei>
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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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        <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>PMA Levy &amp; Aid Anticipation Notes Program</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Rib Floater Trust Various States</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>City of Richmond VA Public Utility Revenue</name>
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        <name>Ridge Road Fire District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Riley County Unified School District No. 383 Manhattan-Ogden</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rutherford County Health &amp; Educational Facilities Board</name>
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        <name>City of Salt Lake City UT Airport Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Salt River Project Agricultural Improvement &amp; Power 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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Tarrant County Cultural Education Facilities Finance Corp.</name>
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        <name>Tarrant County Cultural Education Facilities Finance 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>Tarrant Regional Water District Water Supply System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tarrant Regional Water District Water Supply System Revenue</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tarrant Regional Water District Water Supply System Revenue</name>
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        <cusip>876443WG3</cusip>
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          <isin value="US876443WG38"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Tennessee Energy Acquisition Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tennessee State School Bond Authority</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Permanent University Fund - Texas A&amp;M University System</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Home Collaborative</name>
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        <fairValLevel>2</fairValLevel>
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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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        <name>Texas Public Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Texas</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of Texas</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>State of Texas</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>State of Texas</name>
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        <title>State of Texas, Veterans Housing Assistance Program, Series 2008B</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>State of Texas</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>State of Texas</name>
        <lei>549300X9CH74QB747L76</lei>
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          <isin value="US882725CQ52"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Texas State Technical College</name>
        <lei>N/A</lei>
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          <isin value="US88276REY45"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas State University System</name>
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          <isin value="US88278PN420"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isin value="US88278PN594"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Transportation Commission</name>
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          <isin value="US882830CG56"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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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>Tobacco Settlement Financing Corp.</name>
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        <name>Tobacco Settlement Financing Corp.</name>
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        <name>Tobacco Settlement Financing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tri-County Metropolitan Transportation District of Oregon</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>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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        <fairValLevel>2</fairValLevel>
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        <name>Borough of Wood-Ridge NJ</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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    <explntrNotes>
      
      
      
      
      
      
      
      
    </explntrNotes>
    <signature>
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      <ncom:nameOfApplicant>JPMorgan Trust IV</ncom:nameOfApplicant>
      <ncom:signature>Timothy J. Clemens</ncom:signature>
      <ncom:signerName>Timothy J. Clemens</ncom:signerName>
      <ncom:title>Treasurer and Principal Financial Officer</ncom:title>
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  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
