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        <fairValLevel>2</fairValLevel>
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        <name>SAN JOSE CALIF UNI SCH DIST SANTA CLARA CNTY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</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 DORADO CALIF IRR DIST CTFS PARTN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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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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        <name>ROSEVILLE CALIF FIN AUTH ELEC SYS REV</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>SAN DIEGO CNTY CALIF REGL TRANSN COMMN SALES TAX REV</name>
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        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
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        <name>PLACENTIA-YORBA LINDA CALIF UNI SCH DIST CTFS PARTN</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FONTANA CALIF PUB FACS FING AUTH LEASE REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WTR REV</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>CHULA VISTA CALIF ELEM SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CALIF WASTEWATER SYS REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SACRAMENTO CALIF CITY FING AUTH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WASTEWATER REV</name>
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          <isin value="US79768HFL78"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>SAN JOSE CALIF UNI SCH DIST SANTA CLARA CNTY</name>
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        <cusip>798186Q47</cusip>
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          <isin value="US798186Q477"/>
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        <curCd>USD</curCd>
        <valUSD>2150000.00000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FONTANA CALIF PUB FACS FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>FONTANA PUBLIC FACILITIES FINANCING AUTHORITY</title>
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        <identifiers>
          <isin value="US34461BCD64"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>507261.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</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>EL DORADO CALIF IRR DIST CTFS PARTN</name>
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        <title>EL DORADO IRRIGATION DISTRICT</title>
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          <isin value="US283059GH07"/>
          <other otherDesc="Internal" value="283059GH0"/>
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        <balance>715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>755841.73000000</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>2043-03-01</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>
        <name>IMPERIAL CALIF IRR DIST ELEC REV</name>
        <lei>N/A</lei>
        <title>IMPERIAL IRRIGATION DISTRICT ELECTRIC SYSTEM REVEN</title>
        <cusip>452650LY8</cusip>
        <identifiers>
          <isin value="US452650LY86"/>
          <other otherDesc="Internal" value="452650LY8"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>456384.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</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>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <title>CALIFORNIA STATE PUBLIC WORKS BOARD</title>
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          <isin value="US13068LYY54"/>
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        <balance>1820000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1822213.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAN MATEO CALIF UN HIGH SCH DIST</name>
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          <isin value="US799017SB54"/>
          <other otherDesc="Internal" value="799017SB5"/>
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        <balance>1940000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1942013.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EAST SIDE UN HIGH SCH DIST CALIF SANTA CLARA CNTY</name>
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        <cusip>275282TN1</cusip>
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          <isin value="US275282TN17"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>461091.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <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>SAN FRANCISCO CALIF CITY &amp; CNTY UNI SCH DIST</name>
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          <isin value="US79771TKY28"/>
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        <valUSD>500737.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CARLSBAD CALIF UNI SCH DIST</name>
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          <isin value="US142665EG95"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAN JOAQUIN CALIF DELTA CMNTY COLLEGE DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
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          <isin value="US13063ELH70"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA EDL FACS AUTH REV</name>
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          <isin value="US130179WD25"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SACRAMENTO CALIF MUN UTIL DIST ELEC REV</name>
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          <isin value="US786005N959"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LONG BEACH CALIF UNI SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SANTA BARBARA CALIF FIN AUTH LEASE REV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WASTEWATER REV</name>
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          <isin value="US79768HHN17"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MOUNT SAN ANTONIO CALIF CMNTY COLLEGE DIST</name>
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          <isin value="US623040PX47"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <title>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</title>
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          <isin value="US13032UJ338"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>SAN DIEGO CALIF UNI SCH DIST</name>
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          <isin value="US797356MU35"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN DIEGO CALIF PUB FACS FING AUTH LEASE REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAN DIEGO CALIF CMNTY COLLEGE DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAN MATEO CALIF UN HIGH SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA EDL FACS AUTH REV IAM COML PAPER NTS TAX EXEMPT STANFORD UNIV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>HAYWARD CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN DIEGO CALIF UNI SCH DIST</name>
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        <name>SANTA MONICA-MALIBU UNI SCH DIST CALIF</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CORONA-NORCO CALIF UNI SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
        <lei>N/A</lei>
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          <isin value="US544532JP06"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SALINAS CALIF UN HIGH SCH DIST</name>
        <lei>N/A</lei>
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          <isin value="US794896HK95"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA PUB FIN AUTH REV</name>
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          <isin value="US13057EHQ08"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SANTA MONICA-MALIBU UNI SCH DIST CALIF</name>
        <lei>N/A</lei>
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          <isin value="US802498A888"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CNTY CALIF PUB WKS FING AUTH LEASE REV</name>
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          <isin value="US54473EZB37"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANAHEIM CALIF HSG &amp; PUB IMPT AUTH REV</name>
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          <isin value="US032556QF22"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>LONG BEACH CALIF UNI SCH DIST</name>
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        <title>LONG BEACH UNIFIED SCHOOL DISTRICT</title>
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          <isin value="US542433A807"/>
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        <valUSD>3351322.20000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CLOVIS CALIF UNI SCH DIST</name>
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        <cusip>189342U22</cusip>
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          <isin value="US189342U228"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MORENO VALLEY CALIF UNI SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SOUTH TAHOE CALIF JT PWRS FING AUTH LEASE REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>State of California</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SUNNYVALE CALIF SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SOUTHWESTERN CMNTY COLLEGE DIST CALIF</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>STOCKTON CALIF UNI SCH DIST CTFS PARTN</name>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <name>WEST CONTRA COSTA CALIF UNI SCH DIST</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>BURBANK CALIF UNI SCH DIST</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <name>SAN DIEGO CNTY CALIF REGL TRANSN COMMN SALES TAX REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>IMPERIAL CALIF IRR DIST ELEC REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <isin value="US13063EKM74"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA ST UNIV REV</name>
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          <isin value="US13077DYL09"/>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CALIF UNI SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>LAKE CNTY CALIF PUB FING AUTH LEASE REV</name>
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          <isin value="US508210AT88"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BlackRock Liquidity Funds: MuniCash; Institutional Shares</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
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        <name>State of California</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAN LUIS OBISPO CNTY CALIF CMNTY COLLEGE DIST</name>
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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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        <name>SAN JOAQUIN CNTY CALIF TRANSN AUTH SALES TAX REV</name>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LA MESA-SPRING VY CALIF SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CLOVIS CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLETA CALIF UN SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>EL MONTE CALIF UN HIGH SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>PARAMOUNT CALIF UNI SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
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          <isin value="US797669XB94"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BELMONT-REDWOOD SHORES CALIF SCH DIST BELMONT ELEM SCHS FACS IMPT DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAN JUAN CALIF UNI SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RIVERSIDE CALIF ELEC REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN DIEGO CALIF PUB FACS FING AUTH WTR REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>TRACY CALIF PUB FING AUTH LEASE REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>7481948.96000000</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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      <invstOrSec>
        <name>LOS ANGELES CALIF MUN IMPT CORP LEASE REV</name>
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          <isin value="US544587G516"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BEAUMONT CALIF PUB IMPT AUTH WASTEWATER REV</name>
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          <isin value="US074428BC61"/>
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        <valUSD>321184.92000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>PAJARO VALLEY CALIF UNI SCH DIST</name>
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          <isin value="US695802ST61"/>
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        <valUSD>338155.35000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>STOCKTON CALIF UNI SCH DIST</name>
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          <isin value="US861419D480"/>
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        <curCd>USD</curCd>
        <valUSD>525000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <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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      <invstOrSec>
        <name>UNIVERSITY CALIF REVS</name>
        <lei>N/A</lei>
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          <isin value="US91412HHA41"/>
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        <balance>805000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>849202.39000000</valUSD>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>UNIVERSITY CALIF REVS</name>
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          <isin value="US91412HHF38"/>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>SAN JUAN CALIF UNI SCH DIST</name>
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        <balance>300000.00000000</balance>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SAN JOAQUIN CALIF DELTA CMNTY COLLEGE DIST</name>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>OAK GROVE CALIF SCH DIST</name>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>FOOTHILL-DE ANZA CALIF CMNTY COLLEGE DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>EL CAMINO CALIF CMNTY COLLEGE DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>GARDEN GROVE CALIF PUB FING AUTH LEASE REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST UNIV REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CNTY CALIF MET TRANSN AUTH SALES TAX REV</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR WTRWKS REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHULA VISTA CALIF ELEM SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>OAKLAND CALIF UNI SCH DIST ALAMEDA CNTY</name>
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          <isin value="US672325H836"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
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          <isin value="US13063ETK28"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CAMPBELL CALIF UN HIGH SCH DIST</name>
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          <isin value="US134159WV03"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST</name>
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          <isin value="US13063EAW66"/>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE CMNTYS DEV AUTH REV VRDO IAM COML PAPER 3/A2 SER 2009 B2</name>
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        <title>CALIFORNIA STATEWIDE COM</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DESERT SANDS CALIF UNI SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>BAY AREA TOLL AUTH CALIF TOLL BRDG REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CALIF DEPT WTR &amp; PWR REV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CNTY CALIF MET TRANSN AUTH SALES TAX REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN JACINTO CALIF UNI SCH DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>RIVERSIDE CALIF CMNTY COLLEGE DIST</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>LOS ANGELES CNTY CALIF MET TRANSN AUTH SALES TAX REV</name>
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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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        <name>SAN DIEGO CALIF PUB FACS FING AUTH WTR REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CALIFORNIA ST PUB WKS BRD LEASE REV</name>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY ARPTS COMMN INTL ARPT REV</name>
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        <name>LOS ANGELES CNTY CALIF MET TRANSN AUTH SALES TAX REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SALINAS CALIF UN HIGH SCH DIST</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ANAHEIM CALIF HSG &amp; PUB IMPT AUTH REV</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SAN FRANCISCO CALIF CITY &amp; CNTY PUB UTILS COMMN WASTEWATER REV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SACRAMENTO CALIF TRANSN AUTH SALES TAX REV</name>
        <lei>N/A</lei>
        <title>SACRAMENTO TRANSPORTATION AUTHORITY SALES TAX REVE</title>
        <cusip>786074BZ6</cusip>
        <identifiers>
          <isin value="US786074BZ60"/>
          <other otherDesc="Internal" value="786074BZ6"/>
        </identifiers>
        <balance>3015000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3325512.74000000</valUSD>
        <pctVal>0.470385240402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST SALES TAX REV</name>
        <lei>N/A</lei>
        <title>SAN FRANCISCO BAY AREA RAPID TRANSIT DISTRICT SALE</title>
        <cusip>797669ZC5</cusip>
        <identifiers>
          <isin value="US797669ZC59"/>
          <other otherDesc="Internal" value="797669ZC5"/>
        </identifiers>
        <balance>1045000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1047188.75000000</valUSD>
        <pctVal>0.148122160528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HEALTH FACS FING AUTH REV</name>
        <lei>N/A</lei>
        <title>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</title>
        <cusip>13032UWZ7</cusip>
        <identifiers>
          <isin value="US13032UWZ73"/>
          <other otherDesc="Internal" value="13032UWZ7"/>
        </identifiers>
        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>420026.31000000</valUSD>
        <pctVal>0.059411643331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CUPERTINO CALIF UN SCH DIST CTFS PARTN</name>
        <lei>N/A</lei>
        <title>CUPERTINO UNION SCHOOL DISTRICT</title>
        <cusip>231241CX6</cusip>
        <identifiers>
          <isin value="US231241CX66"/>
          <other otherDesc="Internal" value="231241CX6"/>
        </identifiers>
        <balance>540000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>608308.33000000</valUSD>
        <pctVal>0.086043651736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LOS ANGELES CALIF UNI SCH DIST</name>
        <lei>N/A</lei>
        <title>LOS ANGELES UNIFIED SCHOOL DISTRICT CA</title>
        <cusip>544647JJ0</cusip>
        <identifiers>
          <isin value="US544647JJ06"/>
          <other otherDesc="Internal" value="544647JJ0"/>
        </identifiers>
        <balance>1855000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1985654.51000000</valUSD>
        <pctVal>0.280865733216</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PASADENA CALIF AREA CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>PASADENA AREA COMMUNITY COLLEGE DISTRICT</title>
        <cusip>702185FB0</cusip>
        <identifiers>
          <isin value="US702185FB00"/>
          <other otherDesc="Internal" value="702185FB0"/>
        </identifiers>
        <balance>1090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1090000.00000000</valUSD>
        <pctVal>0.154177701943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State of California</name>
        <lei>9845007J7054602FF597</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063C6C9</cusip>
        <identifiers>
          <isin value="US13063C6C91"/>
          <other otherDesc="Internal" value="13063C6C9"/>
        </identifiers>
        <balance>1600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1600616.32000000</valUSD>
        <pctVal>0.226403069643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="Provincial" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY CALIF REVS</name>
        <lei>N/A</lei>
        <title>UNIVERSITY OF CALIFORNIA</title>
        <cusip>91412HRX3</cusip>
        <identifiers>
          <isin value="US91412HRX34"/>
          <other otherDesc="Internal" value="91412HRX3"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267789.38000000</valUSD>
        <pctVal>0.037878120379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA</title>
        <cusip>13063EPS9</cusip>
        <identifiers>
          <isin value="US13063EPS99"/>
          <other otherDesc="Internal" value="13063EPS9"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75133.80000000</valUSD>
        <pctVal>0.010627483139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LAKE CNTY CALIF PUB FING AUTH LEASE REV</name>
        <lei>N/A</lei>
        <title>LAKE COUNTY PUBLIC FINANCING AUTHORITY</title>
        <cusip>508210AS0</cusip>
        <identifiers>
          <isin value="US508210AS06"/>
          <other otherDesc="Internal" value="508210AS0"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258386.29000000</valUSD>
        <pctVal>0.036548077436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA ST DEPT WTR RES CENT VY PROJ REV</name>
        <lei>N/A</lei>
        <title>STATE OF CALIFORNIA DEPARTMENT OF WATER RESOURCES</title>
        <cusip>13067WLZ3</cusip>
        <identifiers>
          <isin value="US13067WLZ31"/>
          <other otherDesc="Internal" value="13067WLZ3"/>
        </identifiers>
        <balance>3600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3625463.16000000</valUSD>
        <pctVal>0.512812457331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly total returns reported under item B.5.a do not include any sales or redemption charges, as applicable." noteItem="B.5.a"/>
      <explntrNote note="For purposes of Item C.6 identifying restricted securities, a security that is subject to Rule 144A under the Securities Act of 1933, as amended, is identified as a restricted security only if the fund cannot sell the security to qualified institutional buyers at the report date due to the restrictions under Rule 144A." noteItem="C.6"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Dimensional ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>Randy Olson</ncom:signature>
      <ncom:signerName>Randy Olson</ncom:signerName>
      <ncom:title>Chief Compliance Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
