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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (CHF-Riverside I, LLC - UCR Dundee-Glasgow Student Housing)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State of California</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Children's Trust Fund</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Rancho Mirage (City of), CA (Reassessment District No. R22-85)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Public Finance Authority (Enso Village) (Green Bonds)</name>
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        <cusip>13057GAA7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Hemet Unified School District</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Romoland School District Community Facilities No. 2004-1</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Clarita (City of), CA Community Facilities District No. 2002-1 (Valencia Town Center)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (Bold Program)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (Bella Mente Montessori Academy)</name>
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        <name>Marina (City of), CA Redevelopment Agency Successor Agency</name>
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        <name>Redwood City (City of), CA (Community Facilities District No. 99-1)</name>
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        <name>California (State of) Public Finance Authority (Trinity Classical Academy)</name>
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        <name>AES PUERTO RICO Inc.</name>
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        <name>California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>254900UTAMSIX5XRDK86</lei>
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        <name>Fresno (City of), CA Joint Powers Financing Authority (Master Lease)</name>
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        <name>Mountain House Public Financing Authority (Green Bonds)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ontario Public Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US68304RES58"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Clara (County of), CA Housing Authority</name>
        <lei>N/A</lei>
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          <isin value="US801617DY45"/>
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        <fairValLevel>2</fairValLevel>
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        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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          <isin value="US13079PB930"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>Ontario (City of), CA (Countryside Phase 2 South-Facilities)</name>
        <lei>254900FN91TH1F225693</lei>
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        <cusip>68304NFV6</cusip>
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          <isin value="US68304NFV64"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Community Choice Financing Authority (Green Bonds)</name>
        <lei>549300X8VKJ215S2R571</lei>
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          <isin value="US13013JCS33"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Ontario (City of), CA Community Facilities District No. 25 (Park Place Facilities Phase II)</name>
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        <title>Ontario (City of), CA Community Facilities District No. 25 (Park Place Facilities Phase II), Series 2019, RB</title>
        <cusip>68303WAY6</cusip>
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          <isin value="US68303WAY66"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>San Clemente (City of), CA</name>
        <lei>254900UTAMSIX5XRDK86</lei>
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        <cusip>797214CR2</cusip>
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          <isin value="US797214CR26"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Riverside Unified School District (Community Facilities District No. 33)</name>
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        <cusip>769069P82</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Three Rivers Levee Improvement Authority (Community Facilities District No. 2006-1)</name>
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        <title>Three Rivers Levee Improvement Authority (Community Facilities District No. 2006-1), Series 2021, Ref. RB</title>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Educational Facilities Authority (Art Center College of Design)</name>
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        <cusip>130179PK4</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California (State of) Statewide Communities Development Authority (John Muir Health)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13080ST38</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) School Finance Authority (TEACH Public Schools)</name>
        <lei>N/A</lei>
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        <cusip>13058THK9</cusip>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>San Bernardino (County of), CA Redevelopment Agency Successor Agency (San Sevaine Redevelopment)</name>
        <lei>N/A</lei>
        <title>San Bernardino (County of), CA Redevelopment Agency Successor Agency (San Sevaine Redevelopment), Series 2016 B, Ref. RB</title>
        <cusip>79687DBB0</cusip>
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          <isin value="US79687DBB01"/>
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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>Roseville (City of), CA (Villages at Sierra Vista Community Facilities District No. 1 - Public Facilities)</name>
        <lei>549300OH100KESVPND17</lei>
        <title>Roseville (City of), CA (Villages at Sierra Vista Community Facilities District No. 1 - Public Facilities), Series 2020, RB</title>
        <cusip>777870J80</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>California (State of) Health Facilities Financing Authority (City of Hope)</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California (State of) Health Facilities Financing Authority (City of Hope), Series 2019, RB</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Statewide Communities Development Authority (John Muir Health)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (John Muir Health), Series 2018 A, Ref. RB</title>
        <cusip>13080STN4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Huntington Beach (City of), CA (Community Facilities District No. 2003-1 - Huntington Center)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Riverside Unified School District (Community Facilities District No. 32)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Jose (City of), CA (Fallen Leaves Apartments)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern California Public Power Authority (Clean Energy)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Educational Facilities Authority (Loma Linda University)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Children's Trust Fund</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>549300EIUFISISP8X671</lei>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Lake Elsinore (City of), CA (Nichols Ranch)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Pollution Control Financing Authority (Waste Management, Inc.)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>549300EIUFISISP8X671</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>Huntington Beach (City of), CA (Community Facilities District No. 2003-1 - Huntington Center)</name>
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        <title>Huntington Beach (City of), CA (Community Facilities District No. 2003-1 - Huntington Center), Series 2013, Ref. RB</title>
        <cusip>446188EL4</cusip>
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          <isin value="US446188EL42"/>
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        <valUSD>1115000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Linxs APM)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048VBT4</cusip>
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          <isin value="US13048VBT44"/>
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        <curCd>USD</curCd>
        <valUSD>8576907.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Romoland School District Community Facilities No. 2004-1</name>
        <lei>N/A</lei>
        <title>Romoland School District Community Facilities No. 2004-1, Series 2013, RB</title>
        <cusip>776192LB0</cusip>
        <identifiers>
          <isin value="US776192LB07"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500705.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Desert (City of), CA</name>
        <lei>N/A</lei>
        <title>Palm Desert (City of), CA, Series 2021 A, Ref. RB</title>
        <cusip>696627EP9</cusip>
        <identifiers>
          <isin value="US696627EP96"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294122.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Riverside (County of), CA Public Financing Authority (Redevelopment Project Area No. 1, Desert Communities Development)</name>
        <lei>N/A</lei>
        <title>Riverside (County of), CA Public Financing Authority (Redevelopment Project Area No. 1, Desert Communities Development), Series 2024, Ref. RB</title>
        <cusip>76912TNZ2</cusip>
        <identifiers>
          <isin value="US76912TNZ20"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1109275.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Santa Clarita (City of), CA Community Facilities District No. 2002-1 (Valencia Town Center)</name>
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        <title>Santa Clarita (City of), CA Community Facilities District No. 2002-1 (Valencia Town Center), Series 2012, Ref. RB</title>
        <cusip>801687BY9</cusip>
        <identifiers>
          <isin value="US801687BY91"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Unified School District (Community Facilities District No. 33)</name>
        <lei>N/A</lei>
        <title>Riverside Unified School District (Community Facilities District No. 33), Series 2021, RB</title>
        <cusip>769069P90</cusip>
        <identifiers>
          <isin value="US769069P902"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175783.04000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Orange (County of), CA Community Facilities District No. 2016-1 (Village of Esencia)</name>
        <lei>N/A</lei>
        <title>Orange (County of), CA Community Facilities District No. 2016-1 (Village of Esencia), Series 2016 A, RB</title>
        <cusip>68423PWT3</cusip>
        <identifiers>
          <isin value="US68423PWT38"/>
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        <balance>1350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1351666.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Public Finance Authority (California University of Science and Medicine)</name>
        <lei>N/A</lei>
        <title>California (State of) Public Finance Authority (California University of Science and Medicine), Series 2019 A, RB</title>
        <cusip>13057EDH4</cusip>
        <identifiers>
          <isin value="US13057EDH45"/>
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        <balance>7900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8131172.96000000</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>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.)</name>
        <lei>N/A</lei>
        <title>Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.), Series 2019, Ref. RB</title>
        <cusip>888804CT6</cusip>
        <identifiers>
          <isin value="US888804CT68"/>
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        <balance>11715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11491921.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Adelanto (City of), CA Public Financing Authority</name>
        <lei>N/A</lei>
        <title>Adelanto (City of), CA Public Financing Authority, Series 1996 B, RB</title>
        <cusip>00679PCH5</cusip>
        <identifiers>
          <isin value="US00679PCH55"/>
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        <balance>480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>486830.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fullerton Joint Union High School District</name>
        <lei>N/A</lei>
        <title>Fullerton Joint Union High School District, Series 2026, GO Bonds</title>
        <cusip>359796LU1</cusip>
        <identifiers>
          <isin value="US359796LU17"/>
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        <balance>2930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3271387.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Roseville Joint Union High School District (Election of 2016)</name>
        <lei>N/A</lei>
        <title>Roseville Joint Union High School District (Election of 2016), Series 2017 A, GO Bonds</title>
        <cusip>777849QW3</cusip>
        <identifiers>
          <isin value="US777849QW36"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10062213.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>California (State of) School Finance Authority (Classical Academies Oceanside)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Classical Academies Oceanside), Series 2017 A, Ref. RB</title>
        <cusip>13058TGH7</cusip>
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          <isin value="US13058TGH77"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>801307.28000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palomar Health</name>
        <lei>N/A</lei>
        <title>Palomar Health, Series 2016, Ref. RB</title>
        <cusip>697528AQ0</cusip>
        <identifiers>
          <isin value="US697528AQ06"/>
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        <balance>1625000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1626273.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Northern Mariana Islands (Commonwealth of)</name>
        <lei>N/A</lei>
        <title>Northern Mariana Islands (Commonwealth of), Series 2007 A, Ref. GO Bonds</title>
        <cusip>66537EAY8</cusip>
        <identifiers>
          <isin value="US66537EAY86"/>
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        <balance>705000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>692436.62000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (NCROC-Paradise Valley Estates)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (NCROC-Paradise Valley Estates), Series 2019, RB</title>
        <cusip>13048VGY8</cusip>
        <identifiers>
          <isin value="US13048VGY83"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3043693.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (NorthBay Healthcare Group)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (NorthBay Healthcare Group), Series 2015, RB</title>
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          <isin value="US13048TVD26"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.)</name>
        <lei>N/A</lei>
        <title>California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.), Series 2023, RB</title>
        <cusip>13054WBC0</cusip>
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          <isin value="US13054WBC01"/>
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        <curCd>USD</curCd>
        <valUSD>2668501.25000000</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>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>9845007J7054602FF597</lei>
        <title>California (State of), Series 2023, GO Bonds</title>
        <cusip>13063D4D7</cusip>
        <identifiers>
          <isin value="US13063D4D74"/>
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        <curCd>USD</curCd>
        <valUSD>5274736.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series 2020 A, RB</title>
        <cusip>13080SYV0</cusip>
        <identifiers>
          <isin value="US13080SYV05"/>
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        <balance>5420000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5233740.62000000</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>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (NorthBay Healthcare Group)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (NorthBay Healthcare Group), Series 2015, RB</title>
        <cusip>13048TVE0</cusip>
        <identifiers>
          <isin value="US13048TVE09"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1100082.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Unified School District (Community Facilities District No. 33)</name>
        <lei>N/A</lei>
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        <cusip>769069P74</cusip>
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          <isin value="US769069P746"/>
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        <curCd>USD</curCd>
        <valUSD>313870.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Diego (City of), CA Community Facilities District No. 3</name>
        <lei>N/A</lei>
        <title>San Diego (City of), CA Community Facilities District No. 3, Series 2013, Ref. RB</title>
        <cusip>79727QBY3</cusip>
        <identifiers>
          <isin value="US79727QBY35"/>
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        <balance>720000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>720888.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Community Medical Centers)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Community Medical Centers), Series 2017 A, Ref. RB</title>
        <cusip>13048TR62</cusip>
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          <isin value="US13048TR628"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4014588.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Burbank-Glendale-Pasadena Airport Authority</name>
        <lei>N/A</lei>
        <title>Burbank-Glendale-Pasadena Airport Authority, Series 2024 B, RB</title>
        <cusip>120827DY3</cusip>
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          <isin value="US120827DY38"/>
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        <balance>2250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2392602.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>San Diego (City of), CA (Assessment District No. 4096)</name>
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        <title>San Diego (City of), CA (Assessment District No. 4096), Series 2013, Ref. RB</title>
        <cusip>797283TK4</cusip>
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          <isin value="US797283TK46"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Health Facilities Financing Authority (Commonspirit Health)</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <cusip>13032UY36</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>California (State of) Enterprise Development Authority (Heights Christian Schools)</name>
        <lei>549300544P6FSHU1HB46</lei>
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        <cusip>13068WAE1</cusip>
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          <isin value="US13068WAE12"/>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (Eskaton Properties, Inc.)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Eskaton Properties, Inc.), Series 2024, Ref. RB</title>
        <cusip>13048VZ84</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (Community Medical Centers)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Community Medical Centers), Series 2017 A, Ref. RB</title>
        <cusip>13048TR54</cusip>
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          <isin value="US13048TR545"/>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Pollution Control Financing Authority (Plant Bonds)</name>
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        <cusip>13054WAD9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) School Finance Authority (Escuela Popular)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Escuela Popular), Series 2017, RB</title>
        <cusip>13059THP7</cusip>
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          <isin value="US13059THP75"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>San Clemente (City of), CA</name>
        <lei>254900UTAMSIX5XRDK86</lei>
        <title>San Clemente (City of), CA, Series 2021, Ref. RB</title>
        <cusip>797214CN1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Three Rivers Levee Improvement Authority (Community Facilities District No. 2006-1)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Public Finance Authority (California Crosspoint Academy)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Pollution Control Financing Authority (Poseidon Resources L.P.)</name>
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          <isin value="US13054WBB28"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Vallejo (City of), CA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of)</name>
        <lei>9845007J7054602FF597</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Health Facilities Financing Authority (Cedars-Sinai Medical Center)</name>
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        <cusip>13032UBG2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>West Patterson Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>955232FH1</cusip>
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          <isin value="US955232FH19"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Riverside Unified School District (Community Facilities District No. 33)</name>
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        <cusip>769069P41</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Woodland (City of), CA Community Facilities District 2004-1</name>
        <lei>N/A</lei>
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        <cusip>979568GT3</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) School Finance Authority (Granada Hills Charter Obligated Group)</name>
        <lei>N/A</lei>
        <title>California (State of) School Finance Authority (Granada Hills Charter Obligated Group), Series 2024, RB</title>
        <cusip>13059TJC4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>South Tahoe Joint Powers Financing Authority (South Tahoe Redevelopment Project Area No. 1)</name>
        <lei>N/A</lei>
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        <cusip>84049BHK1</cusip>
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          <isin value="US84049BHK17"/>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (Humangood - California Obligated Group)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Humangood - California Obligated Group), Series 2019 A, Ref. RB</title>
        <cusip>13048VLB2</cusip>
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          <isin value="US13048VLB26"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Los Angeles Unified School District (Election of 2004)</name>
        <lei>N/A</lei>
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        <cusip>544647KS8</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Chula Vista (City of), CA Municipal Financing Authority</name>
        <lei>N/A</lei>
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        <cusip>17131DAL1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Jurupa Community Services District</name>
        <lei>N/A</lei>
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          <isin value="US48210CCU09"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-09-01</maturityDt>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
        <lei>54930055TIDYHNDP4F84</lei>
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        <cusip>79766DRZ4</cusip>
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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>2045-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>University of California</name>
        <lei>N/A</lei>
        <title>University of California, Series 2018 AZ, Ref. RB</title>
        <cusip>91412HBB8</cusip>
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          <isin value="US91412HBB87"/>
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        <balance>6500000.00000000</balance>
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        <valUSD>6600596.60000000</valUSD>
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        <name>California (State of) Statewide Financing Authority (Pooled Tobacco Securitization Program)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego (City of), CA (Assessment District No. 4096)</name>
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        <name>Valley (City of), CA Sanitary District</name>
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        <lei>N/A</lei>
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        <name>Victorville (City of), CA Redevelopment Agency</name>
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        <name>California (State of) School Finance Authority (Aspire Public Schools Obligated Group)</name>
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        <name>Imperial Irrigation District</name>
        <lei>N/A</lei>
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        <name>California (State of) Municipal Finance Authority (CHF-Riverside I, LLC - UCR Dundee-Glasgow Student Housing)</name>
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        <name>California (State of) Municipal Finance Authority (Community Medical Centers)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Pollution Control Financing Authority (Southern California Water Co.)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>Simi Valley (City of), CA Community Development Agency (Merged Tapo Canyon &amp; West End Community Development)</name>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California Health Facilities Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>State of California</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Rib Floater Trust Various States</name>
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        <fairValLevel>2</fairValLevel>
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        <name>University of California</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (Community Medical Centers)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Hollister (City of), CA Redevelopment Agency Successor Agency (Hollister Community Development)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Romoland School District Community Facilities No. 2004-1</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>California Enterprise Development Authority</name>
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        <name>Puerto Rico (Commonwealth of) Industrial, Tourist, Educational, Medical &amp; Environmental Control Facilities Financing Authority (AES Puerto Rico)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Downey (City of), CA Community Development Commission (Downey Redevelopment)</name>
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        <cusip>260883BF9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>Mountain House Public Financing Authority (Green Bonds)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California School Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego (City of), CA (Assessment District No. 4096)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles (City of), CA Department of Water &amp; Power</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Choice Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California Municipal Finance Authority</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Riverside Unified School District (Community Facilities District No. 33)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California Community Choice Financing Authority</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego (City of), CA (Assessment District No. 4096)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Perris (City of), CA Joint Powers Authority</name>
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        <name>Southern California Tobacco Securitization Authority (San Diego County Asset Securitization Corp.)</name>
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        <name>San Luis Obispo (County of), CA (Paso Robles Courthouse)</name>
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        <name>California Community Choice Financing Authority (Clean Energy) (Green Bonds)</name>
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        <name>Tender Option Bond Trust Receipts/Certificates</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Public Works Board (California Community Colleges)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) School Finance Authority (Granada Hills Charter Obligated Group)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Los Angeles Unified School District/CA</name>
        <lei>N/A</lei>
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          <isin value="US544647MF47"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Blythe (City of), CA Financing Authority (City Hall &amp; County Courthouse)</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>PRHTA Custodial Trust</name>
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          <isin value="US69378NAA63"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <name>Three Rivers Levee Improvement Authority (Community Facilities District No. 2006-1)</name>
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        <cusip>88563DAM7</cusip>
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          <isin value="US88563DAM74"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Community Choice Financing Authority (Green Bonds)</name>
        <lei>549300X8VKJ215S2R571</lei>
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        <cusip>13013JCM6</cusip>
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          <isin value="US13013JCM62"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</name>
        <lei>N/A</lei>
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        <cusip>120827FE5</cusip>
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          <isin value="US120827FE55"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-07-01</maturityDt>
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        <name>Inland Valley Development Agency</name>
        <lei>N/A</lei>
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        <cusip>45750TAC7</cusip>
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          <isin value="US45750TAC71"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Colton (City of), CA Public Financing Authority</name>
        <lei>N/A</lei>
        <title>Colton (City of), CA Public Financing Authority, Series 2007 A, RB</title>
        <cusip>196904GY6</cusip>
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          <isin value="US196904GY64"/>
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        <balance>15000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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        <name>State of California</name>
        <lei>9845007J7054602FF597</lei>
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        <cusip>13063ENW2</cusip>
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          <isin value="US13063ENW20"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Calplant I, LLC</name>
        <lei>N/A</lei>
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        <cusip>13136CAN3</cusip>
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          <isin value="US13136CAN39"/>
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        <curCd>USD</curCd>
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        <fairValLevel>3</fairValLevel>
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          <annualizedRt>15.00000000</annualizedRt>
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        <name>Natomas Unified School District</name>
        <lei>5493003NJ3RTOZO25E38</lei>
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        <cusip>63877NMD6</cusip>
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          <isin value="US63877NMD65"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>California (State of) Municipal Finance Authority (CHF-Davis I, LLC - West Village Student Housing)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13049YBF7</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Santa Nella (County of), CA Water District</name>
        <lei>N/A</lei>
        <title>Santa Nella (County of), CA Water District, Series 1998, Ref. RB</title>
        <cusip>802504CX6</cusip>
        <identifiers>
          <isin value="US802504CX66"/>
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        <balance>10000.00000000</balance>
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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>2028-09-02</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>San Jose (City of), CA</name>
        <lei>N/A</lei>
        <title>San Jose (City of), CA, Series 2017 A, Ref. RB</title>
        <cusip>798136VU8</cusip>
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          <isin value="US798136VU88"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Pollution Control Financing Authority (Plant Bonds)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Silicon Valley Tobacco Securitization Authority (Santa Clara)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Statewide Communities Development Authority (Statewide Community Infrastructure Program)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>San Jose (City of), CA (Orvieto Family Apartments)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>South San Francisco (City of), CA Public Facilities Financing Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) School Finance Authority (Alliance for College-Ready Public Schools)</name>
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        <cusip>13059TBS7</cusip>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Palomar Health</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Susanville (City of), CA (Natural Gas Enterprise Ref.)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-01</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (NorthBay Healthcare Group)</name>
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        <cusip>13048TN66</cusip>
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          <isin value="US13048TN668"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-01</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (United Airlines, Inc.)</name>
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        <title>California (State of) Municipal Finance Authority (United Airlines, Inc.), Series 2019, RB</title>
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          <isin value="US13050RAA05"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of)</name>
        <lei>9845007J7054602FF597</lei>
        <title>California (State of), Series 1997, GO Bonds</title>
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          <isin value="US13063CAU45"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
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      <invstOrSec>
        <name>Sacramento (County of), CA Public Financing Authority</name>
        <lei>N/A</lei>
        <title>Sacramento (County of), CA Public Financing Authority, Series 2003 A, RB</title>
        <cusip>786129AV8</cusip>
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          <isin value="US786129AV86"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10021.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Bold Program)</name>
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        <title>California (State of) Municipal Finance Authority (Bold Program), Series 2021 B, RB</title>
        <cusip>13051ABY3</cusip>
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          <isin value="US13051ABY38"/>
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        <balance>915000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>831070.71000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Ontario (City of), CA (Countryside Phase 2 South-Facilities)</name>
        <lei>254900FN91TH1F225693</lei>
        <title>Ontario (City of), CA (Countryside Phase 2 South-Facilities), Series 2024, RB</title>
        <cusip>68304NFS3</cusip>
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          <isin value="US68304NFS36"/>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>242071.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Puerto Rico (Commonwealth of)</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Puerto Rico (Commonwealth of), Series 2021 A, GO Bonds</title>
        <cusip>74514L3R6</cusip>
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          <isin value="US74514L3R62"/>
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        <balance>214890.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>157038.02000000</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>2033-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>San Jose (City of), CA</name>
        <lei>N/A</lei>
        <title>San Jose (City of), CA, Series 2017 A, Ref. RB</title>
        <cusip>798136VR5</cusip>
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          <isin value="US798136VR59"/>
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        <balance>3765000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3789840.72000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hemet Unified School District</name>
        <lei>54930041KL801EWMW566</lei>
        <title>Hemet Unified School District, Series 2021, Ref. RB</title>
        <cusip>423540EV1</cusip>
        <identifiers>
          <isin value="US423540EV18"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>390851.48000000</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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          <couponKind>Fixed</couponKind>
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        <name>California (State of) Health Facilities Financing Authority (Providence Health &amp; Services)</name>
        <lei>5493007RI8BUDOGHZ546</lei>
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        <cusip>13033L3Z8</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Linxs APM)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Linxs APM), Series 2018, RB</title>
        <cusip>13048VCC0</cusip>
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          <isin value="US13048VCC00"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California (State of) Municipal Finance Authority (Linxs APM)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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          <isin value="US13048VBY39"/>
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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>2043-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California (State of) Statewide Communities Development Authority (Loma Linda University Medical Center)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
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        <cusip>13080SEV2</cusip>
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        <valUSD>3002250.00000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>San Francisco (City &amp; County of), CA Airport Commission (San Francisco International Airport)</name>
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        <cusip>79766DNL9</cusip>
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          <isin value="US79766DNL90"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Municipal Finance Authority (Community Medical Centers)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (Community Medical Centers), Series 2017 A, Ref. RB</title>
        <cusip>13048TR21</cusip>
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          <isin value="US13048TR214"/>
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        <curCd>USD</curCd>
        <valUSD>2010504.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Palm Desert (City of), CA</name>
        <lei>N/A</lei>
        <title>Palm Desert (City of), CA, Series 2021 A, Ref. RB</title>
        <cusip>696627EM6</cusip>
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          <isin value="US696627EM65"/>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Sonora Union High School District (Election of 2012)</name>
        <lei>N/A</lei>
        <title>Sonora Union High School District (Election of 2012), Series 2013 A, GO Bonds</title>
        <cusip>835648AL0</cusip>
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          <isin value="US835648AL02"/>
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          <isin value="US13078YSY22"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-02</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California (State of) Health Facilities Financing Authority (Children's Hospital Los Angeles)</name>
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        <cusip>13032UNG9</cusip>
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          <isin value="US13032UNG93"/>
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        <valUSD>3608390.69000000</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>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Unified School District (Community Facilities District No. 33)</name>
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        <cusip>769069P66</cusip>
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          <isin value="US769069P662"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Los Angeles (City of), CA Department of Airports</name>
        <lei>N/A</lei>
        <title>Los Angeles (City of), CA Department of Airports, Series 2017 A, RB</title>
        <cusip>544445CZ0</cusip>
        <identifiers>
          <isin value="US544445CZ07"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2002690.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Palm Desert (City of), CA</name>
        <lei>N/A</lei>
        <title>Palm Desert (City of), CA, Series 2021 A, Ref. RB</title>
        <cusip>696627EL8</cusip>
        <identifiers>
          <isin value="US696627EL82"/>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>317145.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Mountain House Public Financing Authority (Green Bonds)</name>
        <lei>N/A</lei>
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        <cusip>62412PBJ4</cusip>
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          <isin value="US62412PBJ49"/>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>497752.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>State of California</name>
        <lei>9845007J7054602FF597</lei>
        <title>State of California, Series 2025, GO Bonds</title>
        <cusip>13063ENB8</cusip>
        <identifiers>
          <isin value="US13063ENB82"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3176751.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Three Rivers Levee Improvement Authority (Community Facilities District No. 2006-1)</name>
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        <cusip>88563DAP0</cusip>
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          <isin value="US88563DAP06"/>
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        <curCd>USD</curCd>
        <valUSD>263064.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Puerto Rico Sales Tax Financing Corp.</name>
        <lei>549300EIUFISISP8X671</lei>
        <title>Puerto Rico Sales Tax Financing Corp., Series 2018 A-1, RB</title>
        <cusip>74529JPW9</cusip>
        <identifiers>
          <isin value="US74529JPW98"/>
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        <balance>4000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3785.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Imperial (City of), CA Public Financing Authority (Water Facility)</name>
        <lei>N/A</lei>
        <title>Imperial (City of), CA Public Financing Authority (Water Facility), Series 2012, RB</title>
        <cusip>452671AL4</cusip>
        <identifiers>
          <isin value="US452671AL48"/>
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        <balance>735000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>735880.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Fresno (City of), CA</name>
        <lei>N/A</lei>
        <title>Fresno (City of), CA, Series 2023 A, Ref. RB</title>
        <cusip>358100FS9</cusip>
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          <isin value="US358100FS95"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Riverside Unified School District (Election of 2016)</name>
        <lei>N/A</lei>
        <title>Riverside Unified School District (Election of 2016), Series 2019 B, GO Bonds</title>
        <cusip>769059ZU3</cusip>
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          <isin value="US769059ZU39"/>
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        <balance>4250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3630173.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>San Jose (City of), CA</name>
        <lei>N/A</lei>
        <title>San Jose (City of), CA, Series 2017 A, Ref. RB</title>
        <cusip>798136VP9</cusip>
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          <isin value="US798136VP93"/>
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        <valUSD>503961.30000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California (State of) Statewide Communities Development Authority (University of California - Irvine East Campus Apartments - CHF-Irvine, LLC)</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California (State of) Statewide Communities Development Authority (University of California - Irvine East Campus Apartments - CHF-Irvine, LLC)</title>
        <cusip>13078RGC8</cusip>
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          <isin value="US13078RGC88"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Puerto Rico (Commonwealth of)</name>
        <lei>549300X44HXPLJU48U63</lei>
        <title>Puerto Rico (Commonwealth of), Series 2021 A-1, GO Bonds</title>
        <cusip>74514L3G0</cusip>
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          <isin value="US74514L3G08"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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        <name>Rancho Cucamonga (City of), CA (Community Facilities District No. 2003-01 - Improvement Area No. 1)</name>
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        <title>Rancho Cucamonga (City of), CA (Community Facilities District No. 2003-01 - Improvement Area No. 1), Series 2013, Ref. RB</title>
        <cusip>752117PF2</cusip>
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          <isin value="US752117PF28"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>California (State of) Housing Finance Agency</name>
        <lei>549300BOPCVLBA552Z14</lei>
        <title>California (State of) Housing Finance Agency, Series 2021-1A, Revenue Ctfs.</title>
        <cusip>13033DAE5</cusip>
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          <isin value="US13033DAE58"/>
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        <balance>5145880.52000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4902454.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300KTNI2GCJNX2U48</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego (City of), CA (Assessment District No. 4096)</name>
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        <fairValLevel>2</fairValLevel>
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        <cusip>13013JDR4</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Statewide Communities Development Authority (NCCD-Hooper Street LLC-California College of the Arts)</name>
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        <cusip>13081CAB4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Tustin (City of), CA Community Facilities District (Tustin Legacy/John Laing Homes)</name>
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        <title>Tustin (City of), CA Community Facilities District (Tustin Legacy/John Laing Homes), Series 2013, Ref. RB</title>
        <cusip>901047EB2</cusip>
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          <isin value="US901047EB23"/>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>California (State of) Health Facilities Financing Authority (Commonspirit Health)</name>
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        <cusip>13032UXB9</cusip>
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          <isin value="US13032UXB96"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>California (State of) Municipal Finance Authority (CHF-Riverside II, LLC - UCR North District Phase I Student Housing)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (CHF-Riverside II, LLC - UCR North District Phase I Student Housing), Series 2019, RB</title>
        <cusip>13049YEE7</cusip>
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          <isin value="US13049YEE77"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>Truckee (Town of), CA Donner Public Utility District (Community Facilities District No. 04-1)</name>
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        <cusip>897817BN1</cusip>
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          <isin value="US897817BN12"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (CHF-Riverside I, LLC - UCR Dundee-Glasgow Student Housing)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>California (State of) Municipal Finance Authority (CHF-Riverside I, LLC - UCR Dundee-Glasgow Student Housing), Series 2018, RB</title>
        <cusip>13049YCZ2</cusip>
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        <name>San Mateo &amp; Foster (Cities of), CA Public Financing Authority (Clean Water Program)</name>
        <lei>N/A</lei>
        <title>San Mateo &amp; Foster (Cities of), CA Public Financing Authority (Clean Water Program), Series 2019, RB</title>
        <cusip>79905VAW1</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Riverside Unified School District (Community Facilities District No. 32)</name>
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        <cusip>769069M28</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Pollution Control Financing Authority (CalPlant I) (Green Bonds)</name>
        <lei>N/A</lei>
        <title>California (State of) Pollution Control Financing Authority (CalPlant I) (Green Bonds), Series 2020, RB</title>
        <cusip>130536RM9</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>California (State of) Municipal Finance Authority (Eskaton Properties, Inc.)</name>
        <lei>5493000UQOV6R4ZWS346</lei>
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        <cusip>13048VZ50</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>San Diego (City of), CA (Assessment District No. 4096)</name>
        <lei>N/A</lei>
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        <cusip>797283TM0</cusip>
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          <isin value="US797283TM02"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Orange (County of), CA Community Facilities District No. 2016-1 (Esencia Village)</name>
        <lei>N/A</lei>
        <title>Orange (County of), CA Community Facilities District No. 2016-1 (Esencia Village), Series 2016 A, RB</title>
        <cusip>68423PXA3</cusip>
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          <isin value="US68423PXA38"/>
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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>2046-08-15</maturityDt>
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        <name>Sacramento (City of), CA (2019 Sacramento Tourism Infrastructure District - Convention Center Ballroom)</name>
        <lei>N/A</lei>
        <title>Sacramento (City of), CA (2019 Sacramento Tourism Infrastructure District - Convention Center Ballroom), Series 2019, RB</title>
        <cusip>785843AS2</cusip>
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          <isin value="US785843AS21"/>
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        <balance>1760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1746509.78000000</valUSD>
        <pctVal>0.178767232897</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>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>Vallejo (City of), CA</name>
        <lei>N/A</lei>
        <title>Vallejo (City of), CA, Series 2003 A, RB</title>
        <cusip>91919TAS4</cusip>
        <identifiers>
          <isin value="US91919TAS42"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5000.00000000</valUSD>
        <pctVal>0.000511784230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>City of Los Angeles Department of Airports</name>
        <lei>N/A</lei>
        <title>City of Los Angeles Department of Airports, Series 2020 C, RB</title>
        <cusip>544445RF8</cusip>
        <identifiers>
          <isin value="US544445RF87"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5051732.50000000</valUSD>
        <pctVal>0.517079406427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</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>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>AIM Tax-Exempt Funds (Invesco Tax-Exempt Funds)</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Principal Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
