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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLUMBIA (DC), DISTRICT OF</name>
        <lei>N/A</lei>
        <title>District of Columbia Income Tax Revenue</title>
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          <isin value="US25477GYP44"/>
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        <curCd>USD</curCd>
        <valUSD>537634.6</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-01</maturityDt>
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          <annualizedRt>5.25</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL ED FACS FIN CORP</name>
        <lei>N/A</lei>
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          <isin value="US645424BP67"/>
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        <curCd>USD</curCd>
        <valUSD>1090155.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY (NY)</name>
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        <title>New York City Municipal Water Finance Authority</title>
        <cusip>64972GB60</cusip>
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          <isin value="US64972GB602"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2115685.6</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-15</maturityDt>
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          <annualizedRt>5.25</annualizedRt>
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        <name>KANSAS DEPARTMENT OF TRANSPORTATION (KS)</name>
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        <curCd>USD</curCd>
        <valUSD>1125787</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
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          <annualizedRt>5</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MASSACHUSETTS STATE TRANSN FUNDING REV</name>
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        <title>Commonwealth of Massachusetts Transportation Fund Revenue</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <name>WASHINGTON METROPOLITAN AREA TRANSIT AUTHORITY (DC)</name>
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          <isin value="US93878YDY23"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1957456.2</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAVANNAH-GEORGIA CONVENTION CENTER AUTHORITY (GA)</name>
        <lei>N/A</lei>
        <title>Savannah Georgia Convention Center Authority</title>
        <cusip>804828AC5</cusip>
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          <isin value="US804828AC50"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>402649.96</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>ILLINOIS (IL), STATE OF</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
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        <curCd>USD</curCd>
        <valUSD>916691.46</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSPORTATION CORP</name>
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        <curCd>USD</curCd>
        <valUSD>1041836.5</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>ILLINOIS (IL), STATE OF</name>
        <lei>54930048FV8RWPR02D67</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <name>WISCONSIN HEALTH AND EDUCATIONAL FACILITIES AUTHORITY (WI)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO, COMMONWEALTH OF</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>PHILADELPHIA (PA), CITY OF</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KALAMAZOO MICH ECONOMIC DEV CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES UNIFIED SCHOOL DISTRICT (CA)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORTH CAROLINA MEDICAL CARE COMMISSION (NC)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PHILADELPHIA (PA), CITY OF</name>
        <lei>549300H8UJ7V5WU5IA90</lei>
        <title>Philadelphia Gas Works Co</title>
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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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        <name>CHICAGO ILL</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BLACK BELT ENERGY GAS DISTRICT (THE) (AL)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BIRMINGHAM SPECIAL CARE FACILITIES FINANCING (AL)</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS (IL), STATE OF</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <name>BLACK BELT ENERGY GAS DISTRICT (THE) (AL)</name>
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          <isin value="US09182TGW18"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
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          <annualizedRt>5</annualizedRt>
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        <name>PORT OF PORTLAND THE (OR)</name>
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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>2054-07-01</maturityDt>
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          <annualizedRt>5.25</annualizedRt>
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        <name>OHIO VALLEY ELECTRIC CORP</name>
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        <title>Ohio Air Quality Development Authority</title>
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        <balance>1370000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>4.35</annualizedRt>
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        <name>NEW HOPE CULTURAL EDUCATION FACILITIES FINANCE CORP (TX)</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>COLUMBIA (DC), DISTRICT OF</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5</annualizedRt>
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        <name>MIAMI-DADE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (FL)</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>NORTHAMPTON COUNTY GENERAL PURPOSE AUTHORITY (PA)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY (OH)</name>
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          <isin value="US118217CZ97"/>
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        <fairValLevel>2</fairValLevel>
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        <name>AUSTIN TEX</name>
        <lei>IW10PQVTU7HKS3JMW253</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO AIR QUALITY DEVELOPMENT AUTHORITY (OH)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY (CA)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LEE CNTY FLA INDL DEV AUTH</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-10-01</maturityDt>
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        <name>PHILADELPHIA (PA), CITY OF</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-01</maturityDt>
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          <annualizedRt>5</annualizedRt>
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        <name>GEORGIA MUNICIPAL ELECTRIC AUTHORITY (GA)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
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          <annualizedRt>5</annualizedRt>
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        <name>ILLINOIS STATE TOLL HIGHWAY AUTHORITY (THE) (IL)</name>
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        <title>Illinois State Toll Highway Authority</title>
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          <isin value="US452252PX10"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2105219.4</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>COLUMBIA (DC), DISTRICT OF</name>
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        <curCd>USD</curCd>
        <valUSD>15271.19</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      <invstOrSec>
        <name>UTILITY DEBT SECURITIZATION AUTHORITY (NY)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5</annualizedRt>
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        <name>OMAHA PUB PWR DIST NEB</name>
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        <title>Omaha Public Power District</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SUFFOLK REGL OFF-TRACK BETTING CORP N Y</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN AIRLINES INC</name>
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        <title>Tulsa Municipal Airport Trust Trustees/OK</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHANDLER INDUSTRIAL DEVELOPMENT AUTHORITY (AZ)</name>
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        <title>Chandler Industrial Development Authority</title>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIANA ST FIN AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN DIEGO COUNTY REGIONAL AIRPORT AUTHORITY (CA)</name>
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        <title>San Diego County Regional Airport Authority</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SUFFOLK REGL OFF-TRACK BETTING CORP N Y</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TEXAS TRANSPORTATION COMMISSION (TX)</name>
        <lei>N/A</lei>
        <title>Central Texas Turnpike System</title>
        <cusip>88283KBZ0</cusip>
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          <isin value="US88283KBZ03"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1129409.5</valUSD>
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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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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>OHIO STATE HIGHER EDUCATIONAL FACILITY COMMISSION (OH)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ARIZONA INDUSTRIAL DEVELOPMENT AUTHORITY (THE) (AZ)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ILLINOIS (IL), STATE OF</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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        <name>MONTANA FAC FIN AUTH</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 (CO), CITY AND COUNTY OF</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW JERSEY TRANSPORTATION TRUST FUND AUTHORITY (NJ)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUERTO RICO SALES TAX FINANCING CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAN FRANCISCO CITY AND COUNTY AIRPORT COMMISSION (CA)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IOWA FINANCE AUTHORITY (IA)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK (IN)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TRIBOROUGH BRDG &amp; TUNL AUTH N Y</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HAWAII (HI), STATE OF</name>
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        <title>State of Hawaii Airports System Revenue</title>
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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>CHICAGO TRANSIT AUTHORITY (IL)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>OKLAHOMA DEVELOPMENT FINANCE AUTHORITY (THE) (OK)</name>
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        <title>Oklahoma Development Finance Authority</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC ENERGY AUTHORITY OF KENTUCKY (KY)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HARRIS COUNTY HOSPITAL DISTRICT (TX)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEW YORK &amp; NEW JERSEY PORT AUTHORITY (THE) (NY)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BOARD OF REGENTS OF TEXAS STATE UNIVERSITY SYSTEM (TX)</name>
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          <isin value="US88278PJ964"/>
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        <fairValLevel>2</fairValLevel>
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        <name>CONNECTICUT (CT), STATE OF</name>
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          <ticker value="CTSGEN"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-10-01</maturityDt>
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        <name>DENVER CITY AND COUNTY SCHOOL DISTRICT N.1 (CO)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NEVADA (NV), STATE OF</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5</annualizedRt>
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        <name>TARRANT CNTY TEX CULTURAL ED FACS FIN CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC FINANCE AUTHORITY (WI)</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>EL PASO INDEPENDENT SCHOOL DISTRICT (TX)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HARRIS CNTY TEX CULTURAL ED FACS FIN CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BUILD NYC RESOURCE CORP (NY)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>BLACK BELT ENERGY GAS DISTRICT (THE) (AL)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CHERRY CREEK SCHOOL DISTRICT N.5 (CO)</name>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ORANGE COUNTY HEALTH FACILITIES AUTHORITY (FL)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ARKANSAS DEVELOPMENT FINANCE AUTHORITY (AR)</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-09-01</maturityDt>
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          <annualizedRt>4.25</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CHICAGO ILL</name>
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        <valUSD>510505.2</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-11-01</maturityDt>
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          <annualizedRt>5</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MICHIGAN ST TRUNK LINE</name>
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        <title>State of Michigan Trunk Line Revenue</title>
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          <isin value="US5946954R69"/>
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        <balance>1000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-15</maturityDt>
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          <annualizedRt>5.5</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>TEXAS PRIVATE ACTIVITY BD SURFACE TRANSPORTATION CORP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-30</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <title>New York Transportation Development Corp</title>
        <cusip>650116JQ0</cusip>
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          <isin value="US650116JQ04"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALACHUA CNTY FLA HEALTH FACS AUTH</name>
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        <title>Alachua County Health Facilities Authority</title>
        <cusip>010684BL1</cusip>
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          <isin value="US010684BL14"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1593273.75</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>PENNSYLVANIA (PA), STATE OF</name>
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        <cusip>70914PZ62</cusip>
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          <isin value="US70914PZ622"/>
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        <balance>2000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <name>NEW HAMPSHIRE HEALTH AND EDUCATIONAL FACILITIES AUTHORITY (NH)</name>
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        <cusip>64461XMF9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25</annualizedRt>
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        <name>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PA)</name>
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        <title>Pennsylvania Economic Development Financing Authority</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6</annualizedRt>
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        <name>STATE BUILDING AUTHORITY (MI)</name>
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        <title>Michigan State Building Authority</title>
        <cusip>594615NP7</cusip>
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        <balance>1580000</balance>
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        <valUSD>1788445.92</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5</annualizedRt>
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        <name>TEXAS MUNICIPAL GAS ACQUISITION AND SUPPLY CORP I (TX)</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25</annualizedRt>
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        <name>LOUDOUN (VA), COUNTY OF</name>
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        <balance>2000000</balance>
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        <valUSD>2070396.8</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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        <name>NORTH TEXAS TOLLWAY AUTHORITY (THE)</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>North Texas Tollway Authority</title>
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          <isin value="US66285WJ565"/>
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        <valUSD>549128.55</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>WATERTOWN MASS</name>
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        <valUSD>966361.9</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4</annualizedRt>
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        <name>PUBLIC FINANCE AUTHORITY (WI)</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74442PL29</cusip>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1026556.2</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>2055-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDIANAPOLIS LOCAL PUBLIC IMPROVEMENT BOND BANK (IN)</name>
        <lei>549300LX8ESJHDSESB87</lei>
        <title>Indianapolis Local Public Improvement Bond Bank</title>
        <cusip>45528VFS3</cusip>
        <identifiers>
          <isin value="US45528VFS34"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1055058.2</valUSD>
        <pctVal>0.5022370277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</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>MIAMI-DADE (FL), COUNTY OF</name>
        <lei>N/A</lei>
        <title>County of Miami-Dade FL Aviation Revenue</title>
        <cusip>593340AA0</cusip>
        <identifiers>
          <isin value="US593340AA01"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1043121.8</valUSD>
        <pctVal>0.4965549695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</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>COLORADO HEALTH FACILITIES AUTHORITY (CO)</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
        <cusip>19648FVJ0</cusip>
        <identifiers>
          <isin value="US19648FVJ01"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>901645</valUSD>
        <pctVal>0.4292080805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</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>PENNSYLVANIA ECONOMIC DEVELOPMENT FINANCING AUTHORITY (PA)</name>
        <lei>N/A</lei>
        <title>Pennsylvania Economic Development Financing Authority</title>
        <cusip>70870JFM5</cusip>
        <identifiers>
          <isin value="US70870JFM53"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1842411</valUSD>
        <pctVal>0.8770388444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</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>LOWER COLORADO RIVER AUTHORITY (TX)</name>
        <lei>549300QJFPW2NNBYR215</lei>
        <title>Lower Colorado River Authority</title>
        <cusip>54811GR85</cusip>
        <identifiers>
          <isin value="US54811GR857"/>
        </identifiers>
        <balance>575000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>631247.19</valUSD>
        <pctVal>0.3004912075</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ILLINOIS ST</name>
        <lei>N/A</lei>
        <title>IL ILS 5.25 04/01/2044</title>
        <cusip>452153RF8</cusip>
        <identifiers>
          <isin value="US452153RF85"/>
        </identifiers>
        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3248676</valUSD>
        <pctVal>1.5464600704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</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>PUBLIC FINANCE AUTHORITY (WI)</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74442PF67</cusip>
        <identifiers>
          <isin value="US74442PF671"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1044850.4</valUSD>
        <pctVal>0.4973778312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</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>PORT SEATTLE WASH</name>
        <lei>549300T9UCDUJ3GZL429</lei>
        <title>Port of Seattle WA</title>
        <cusip>7353894D7</cusip>
        <identifiers>
          <isin value="US7353894D73"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1073775</valUSD>
        <pctVal>0.5111467447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.5</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>WEST JEFFERSON INDUSTRIAL DEVELOPMENT BOARD (AL)</name>
        <lei>N/A</lei>
        <title>AL WESPOL 12/01/2038</title>
        <cusip>95345PAB4</cusip>
        <identifiers>
          <isin value="US95345PAB40"/>
        </identifiers>
        <balance>1450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1450000</valUSD>
        <pctVal>0.6902403016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3</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>CHICAGO CITY BOARD OF EDUCATION (IL)</name>
        <lei>N/A</lei>
        <title>Chicago Board of Education Dedicated Capital Improvement Tax</title>
        <cusip>167510BJ4</cusip>
        <identifiers>
          <isin value="US167510BJ40"/>
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        <balance>570000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599532.33</valUSD>
        <pctVal>0.2853940526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75</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>SAN DIEGO COUNTY REGIONAL AIRPORT AUTHORITY (CA)</name>
        <lei>N/A</lei>
        <title>San Diego County Regional Airport Authority</title>
        <cusip>79739GTD8</cusip>
        <identifiers>
          <isin value="US79739GTD87"/>
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        <balance>1600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1692316.16</valUSD>
        <pctVal>0.8055895288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOSTON (MA), CITY OF</name>
        <lei>N/A</lei>
        <title>City of Boston MA</title>
        <cusip>100853M98</cusip>
        <identifiers>
          <isin value="US100853M987"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2786360</valUSD>
        <pctVal>1.3263848047</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</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>SALES TAX SECURITIZATION CORP ILL</name>
        <lei>N/A</lei>
        <title>Sales Tax Securitization Corp</title>
        <cusip>79467BKG9</cusip>
        <identifiers>
          <isin value="US79467BKG94"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1086857</valUSD>
        <pctVal>0.5173741403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>LAKES OF SARASOTA CMNTY DEV DIST 2</name>
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        <title>Lakes of Sarasota Community Development District 2</title>
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          <isin value="US51207BAH24"/>
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        <balance>760000</balance>
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        <curCd>USD</curCd>
        <valUSD>766518.37</valUSD>
        <pctVal>0.3648840489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.7</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-25</ncom:dateSigned>
      <ncom:nameOfApplicant>Federated Hermes Municipal Bond Fund, Inc.</ncom:nameOfApplicant>
      <ncom:signature>Stephen Van Meter</ncom:signature>
      <ncom:signerName>Federated Hermes Municipal Bond Fund, Inc.</ncom:signerName>
      <ncom:title>Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
