<SEC-DOCUMENT>0001752724-24-273647.txt : 20241127
<SEC-HEADER>0001752724-24-273647.hdr.sgml : 20241127
<ACCEPTANCE-DATETIME>20241127105913
ACCESSION NUMBER:		0001752724-24-273647
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240930
FILED AS OF DATE:		20241127
DATE AS OF CHANGE:		20241127
PERIOD START:           	20240930

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			abrdn National Municipal Income Fund
		CENTRAL INDEX KEY:			0000895574
		ORGANIZATION NAME:           	
		IRS NUMBER:				411737161
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0330

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07410
		FILM NUMBER:		241508006

	BUSINESS ADDRESS:	
		STREET 1:		C/O ABRDN
		STREET 2:		1900 MARKET STREET, SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103
		BUSINESS PHONE:		215-405-5700

	MAIL ADDRESS:	
		STREET 1:		C/O ABRDN
		STREET 2:		1900 MARKET STREET, SUITE 200
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Delaware Investments National Municipal Income Fund
		DATE OF NAME CHANGE:	20081209

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELAWARE INVESTMENTS FLORIDA INSURED MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	20020327

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VOYAGEUR FLORIDA INSURED MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	19930519
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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          <maturityDt>2048-12-01</maturityDt>
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          <annualizedRt>6.88000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE</name>
        <lei>549300SQWVHKBRF8D702</lei>
        <title>New York City Housing Development Corp</title>
        <cusip>64972E4H9</cusip>
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          <isin value="US64972E4H94"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>512372.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <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>BUCKEYE OH TOBACCO SETTLEMENT FING AUTH</name>
        <lei>N/A</lei>
        <title>Buckeye Tobacco Settlement Financing Authority</title>
        <cusip>118217CX4</cusip>
        <identifiers>
          <isin value="US118217CX40"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2799579.00000000</valUSD>
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        <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>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TAMPA FL CAPITAL IMPT CIGARETTE TAX ALLOCATION</name>
        <lei>N/A</lei>
        <title>City of Tampa FL</title>
        <cusip>875146BC5</cusip>
        <identifiers>
          <isin value="US875146BC54"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>940545.30000000</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>2049-09-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLIFTON TX HGR EDU FIN CORP EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Clifton Higher Education Finance Corp</title>
        <cusip>187145SV0</cusip>
        <identifiers>
          <isin value="US187145SV04"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35761.77000000</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>2053-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARICOPA CNTY AZ INDL DEV AUTH HOSP REVENUE</name>
        <lei>N/A</lei>
        <title>Maricopa County Industrial Development Authority</title>
        <cusip>56678PBL0</cusip>
        <identifiers>
          <isin value="US56678PBL04"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>773232.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOBACCO SECURITIZATION AUTH STHRN CA TOBACCO SETTLEMENT REVE</name>
        <lei>N/A</lei>
        <title>Tobacco Securitization Authority of Southern California</title>
        <cusip>888804BB6</cusip>
        <identifiers>
          <isin value="US888804BB69"/>
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        <balance>3015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>530303.53000000</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>2046-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MET NASHVILLE TN ARPT AUTH ARPT REVENUE</name>
        <lei>549300IC0HNF8TDXEE63</lei>
        <title>Metropolitan Nashville Airport Authority/The</title>
        <cusip>592190MR0</cusip>
        <identifiers>
          <isin value="US592190MR01"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2517081.25000000</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>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY S E AL A COOPERATIVE DIST ENERGY SPLY REVENUE</name>
        <lei>2549001SMMZ81MXBXZ89</lei>
        <title>Energy Southeast A Cooperative District</title>
        <cusip>292723BN2</cusip>
        <identifiers>
          <isin value="US292723BN27"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1107001.20000000</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>Floating</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp</title>
        <cusip>650116GZ3</cusip>
        <identifiers>
          <isin value="US650116GZ30"/>
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        <balance>2950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3081276.77000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>INLAND EMPIRE CA TOBACCO SECURITIZATION AUTH TOB SETTLEMENT</name>
        <lei>N/A</lei>
        <title>Inland Empire Tobacco Securitization Corp</title>
        <cusip>45734TAG9</cusip>
        <identifiers>
          <isin value="US45734TAG94"/>
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        <balance>3900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>303607.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-06-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PENNSYLVANIA ST TURNPIKE COMMISSION OIL FRANCHISE TAX REVENU</name>
        <lei>549300J8LLBYEYEXZJ24</lei>
        <title>Pennsylvania Turnpike Commission Oil Franchise Tax Revenue</title>
        <cusip>709221WA9</cusip>
        <identifiers>
          <isin value="US709221WA92"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2009919.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KNOX CNTY TN HLTH EDUCTNL &amp; HSG FAC BRD STUDENT HSG REVENUE</name>
        <lei>N/A</lei>
        <title>Knox County Health Educational &amp; Housing Facility Board</title>
        <cusip>499526AU5</cusip>
        <identifiers>
          <isin value="US499526AU52"/>
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        <balance>450000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH STUDENT HSG REVENUE</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority</title>
        <cusip>45471FAZ4</cusip>
        <identifiers>
          <isin value="US45471FAZ45"/>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>CLIFTON TX HGR EDU FIN CORP EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Clifton Higher Education Finance Corp</title>
        <cusip>187145UE5</cusip>
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          <isin value="US187145UE50"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AUSTIN TX ARPT SYS REVENUE</name>
        <lei>N/A</lei>
        <title>City of Austin TX Airport System Revenue</title>
        <cusip>052398HW7</cusip>
        <identifiers>
          <isin value="US052398HW71"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2113819.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE</name>
        <lei>549300I8V0Z68JQCB679</lei>
        <title>Black Belt Energy Gas District</title>
        <cusip>09182TDL8</cusip>
        <identifiers>
          <isin value="US09182TDL89"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>661084.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MUNI ELEC AUTH OF GEORGIA</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
        <title>Municipal Electric Authority of Georgia</title>
        <cusip>626207Z64</cusip>
        <identifiers>
          <isin value="US626207Z645"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3816395.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>INLAND EMPIRE CA TOBACCO SECURITIZATION AUTH TOB SETTLEMENT</name>
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          <isin value="US45734TAH77"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MARYLAND ST ECON DEV CORP</name>
        <lei>549300JJ16DDBSZWSN94</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH MUNI CTFS</name>
        <lei>N/A</lei>
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        <cusip>63607WAQ7</cusip>
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          <isin value="US63607WAQ78"/>
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      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST FUND AUTH</name>
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        <title>New Jersey Transportation Trust Fund Authority</title>
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          <isin value="US64613CAY49"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-15</maturityDt>
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        <name>GDB DEBT RECOVERY AUTH OF CMWLTH PUERTO RICO</name>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-08-20</maturityDt>
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        <name>WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE</name>
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        <title>Westchester County Local Development Corp</title>
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          <isin value="US95737TBB17"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-01</maturityDt>
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        <name>FLORIDA ST DEV FIN CORP</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp</title>
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          <isin value="US340618DR59"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NEW JERSEY ST HSG &amp; MTGE FIN AGY MF CONDUIT REVENUE</name>
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        <title>New Jersey Housing &amp; Mortgage Finance Agency</title>
        <cusip>646127FN5</cusip>
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          <isin value="US646127FN55"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2065-12-20</maturityDt>
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      <invstOrSec>
        <name>JACKSONVILLE PUBLIC EDUCTNL BLDG AUTH</name>
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        <title>Jacksonville Public Educational Building Authority</title>
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          <isin value="US469480AT45"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-08-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>SALT RIVER AZ PROJ AGRIC IMPT&amp; PWR DIST ELEC SYS REVENUE</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
        <title>Salt River Project Agricultural Improvement &amp; Power District</title>
        <cusip>79574CEB5</cusip>
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        <balance>3000000.00000000</balance>
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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>2047-01-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ARLINGTON TX HGR EDU FIN CORP EDU REVENUE</name>
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        <title>Arlington Higher Education Finance Corp</title>
        <cusip>041807GZ5</cusip>
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          <isin value="US041807GZ51"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-15</maturityDt>
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        <name>ILLINOIS ST FIN AUTH REVENUE</name>
        <lei>549300ZG6UBPNNNRN315</lei>
        <title>Illinois Finance Authority</title>
        <cusip>45204FQC2</cusip>
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          <isin value="US45204FQC22"/>
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          <maturityDt>2051-08-15</maturityDt>
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        <name>CALIFORNIA ST INFRASTRUCTURE &amp; ECON DEV BANK REVENUE</name>
        <lei>549300C1OG9RDIM8ET06</lei>
        <title>California Infrastructure &amp; Economic Development Bank</title>
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        <name>NATIONAL FIN AUTH NH MUNI CTFS</name>
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        <title>New Hampshire Business Finance Authority</title>
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        <name>COLORADO ST HLTH FACS AUTH REVENUE</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
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          <isin value="US19648FNG53"/>
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        <name>NEW HOPE CULTURAL EDU FACS FIN CORP TX SENIOR LIVING REVENUE</name>
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        <title>New Hope Cultural Education Facilities Finance Corp</title>
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        <name>LOUISIANA PUB FACS AUTH REVENUE</name>
        <lei>549300RQIPT5S4P4M065</lei>
        <title>Louisiana Public Facilities Authority</title>
        <cusip>546399SZ0</cusip>
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          <isin value="US546399SZ00"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>LONDON TX INDEP SCH DIST</name>
        <lei>N/A</lei>
        <title>London Independent School District</title>
        <cusip>542119KX9</cusip>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL EDU FACS FIN CORP TX SENIOR LIVING REVENUE</name>
        <lei>N/A</lei>
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          <isin value="US64542PCM59"/>
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      <invstOrSec>
        <name>ST CLOUD MN CHRT SCH LEASE REVENUE</name>
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          <isin value="US788326AD85"/>
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        <curCd>USD</curCd>
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          <maturityDt>2046-04-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ARLINGTON TX HGR EDU FIN CORP EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Arlington Higher Education Finance Corp</title>
        <cusip>041807KZ0</cusip>
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          <isin value="US041807KZ06"/>
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        <curCd>USD</curCd>
        <valUSD>842102.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-06-15</maturityDt>
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      <invstOrSec>
        <name>BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE</name>
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        <title>Black Belt Energy Gas District</title>
        <cusip>09182TCR6</cusip>
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          <isin value="US09182TCR68"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CHICAGO IL BRD OF EDU DEDICATED CAPITAL IMPT TAX</name>
        <lei>54930099NR6T9V7LVB43</lei>
        <title>Chicago Board of Education Dedicated Capital Improvement Tax</title>
        <cusip>167510AM8</cusip>
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          <isin value="US167510AM87"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-04-01</maturityDt>
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      <invstOrSec>
        <name>INDIANA ST FIN AUTH STUDENT HSG REVENUE</name>
        <lei>549300PS0PAS7NDSSI20</lei>
        <title>Indiana Finance Authority</title>
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          <isin value="US45471FAY79"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLORADO ST EDUCTNL &amp; CULTURAL FACS AUTH REVENUE</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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      <invstOrSec>
        <name>ESCAMBIA CNTY FL HLTH FACS AUTH</name>
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          <maturityDt>2050-08-15</maturityDt>
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        <name>SUFFOLK REGL OFF-TRACK BETTING CORP NY REV</name>
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        <name>HUNTINGDON CNTY PA GEN AUTH REVENUE</name>
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      <invstOrSec>
        <name>CALIFORNIA ST SCH FACS FING AUTH REVENUE</name>
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        <title>California School Facilities Financing Authority</title>
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          <isin value="US13058RAU86"/>
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      <invstOrSec>
        <name>PUBLIC AUTH FOR COLORADO ST ENERGY NATURAL GAS PURCHASE REVE</name>
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        <name>PUBLIC FIN AUTH WI LIMITED OBLIG PILOT REVENUE</name>
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        <title>Public Finance Authority</title>
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        <name>BLACK BELT ENERGY GAS DIST AL GAS PROJECT REVENUE</name>
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        <title>Black Belt Energy Gas District</title>
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          <isin value="US09182TAW71"/>
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        <name>MUNI ELEC AUTH OF GA</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
        <title>Municipal Electric Authority of Georgia</title>
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      <invstOrSec>
        <name>HILLSBOROUGH CNTY FL INDL DEVAUTH HOSP REVENUE</name>
        <lei>N/A</lei>
        <title>Hillsborough County Industrial Development Authority</title>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE</name>
        <lei>N/A</lei>
        <title>Texas Private Activity Bond Surface Transportation Corp</title>
        <cusip>882667AN8</cusip>
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          <isin value="US882667AN81"/>
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        <curCd>USD</curCd>
        <valUSD>4078963.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YSZ0</cusip>
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          <isin value="US65820YSZ06"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>222107.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO ST EDUCTNL &amp; CULTURAL FACS AUTH REVENUE</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational &amp; Cultural Facilities Authority</title>
        <cusip>19645RC82</cusip>
        <identifiers>
          <isin value="US19645RC829"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501485.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE</name>
        <lei>N/A</lei>
        <title>Metropolitan Washington Airports Authority Aviation Revenue</title>
        <cusip>592647GP0</cusip>
        <identifiers>
          <isin value="US592647GP00"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5184615.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL PROJS FL FIN AUTH STUDENT HSG REVENUE</name>
        <lei>N/A</lei>
        <title>Capital Projects Finance Authority/FL</title>
        <cusip>140427CC7</cusip>
        <identifiers>
          <isin value="US140427CC78"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1008334.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROOKLYN PK MN CHRT SCH LEASE REVENUE</name>
        <lei>549300SRSB2KMQNYBB75</lei>
        <title>City of Brooklyn Park MN</title>
        <cusip>114224AC2</cusip>
        <identifiers>
          <isin value="US114224AC21"/>
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        <balance>860000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>860258.43000000</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>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLORADO ST HLTH FACS AUTH REVENUE</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
        <cusip>19648A5H4</cusip>
        <identifiers>
          <isin value="US19648A5H44"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>343614.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>IRVINE CA FACS FING AUTH LEASE REVENUE</name>
        <lei>N/A</lei>
        <title>Irvine Facilities Financing Authority</title>
        <cusip>46360XAQ7</cusip>
        <identifiers>
          <isin value="US46360XAQ79"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5015086.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>APPLE VLY MN SENIOR LIVING REVENUE</name>
        <lei>549300AMWD6044L1SO95</lei>
        <title>City of Apple Valley MN</title>
        <cusip>03789YDS2</cusip>
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          <isin value="US03789YDS28"/>
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        <balance>685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>440177.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST HGR EDU FACS AUTH</name>
        <lei>N/A</lei>
        <title>Washington Higher Education Facilities Authority</title>
        <cusip>9397815M8</cusip>
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          <isin value="US9397815M81"/>
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        <balance>3000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2883630.30000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHICAGO IL BRD OF EDU DEDICATED CAPITAL IMPT TAX</name>
        <lei>N/A</lei>
        <title>Chicago Board of Education Dedicated Capital Improvement Tax</title>
        <cusip>167510BH8</cusip>
        <identifiers>
          <isin value="US167510BH83"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>622435.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI HOTEL REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
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          <isin value="US74447DAD93"/>
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          <maturityDt>2062-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COLORADO ST HLTH FACS AUTH REVENUE</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
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          <isin value="US19648FTH72"/>
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        <balance>500000.00000000</balance>
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          <maturityDt>2049-05-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK ST THRUWAY AUTH PERSONAL INCOME TAX REVENUE</name>
        <lei>N/A</lei>
        <title>New York State Thruway Authority</title>
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          <isin value="US650028ZN61"/>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2053-03-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SAINT PAUL MN HSG &amp; REDEV AUTH CHRT SCH LEASE REVENUE</name>
        <lei>549300FQCUW4VH929113</lei>
        <title>Housing &amp; Redevelopment Authority of The City of St Paul Minnesota</title>
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          <isin value="US852297CH13"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WASHINGTON ST HSG FIN COMMISSION NONPROFIT REVENUE</name>
        <lei>549300YL1HU59NREG764</lei>
        <title>Washington State Housing Finance Commission</title>
        <cusip>93978LGR1</cusip>
        <identifiers>
          <isin value="US93978LGR15"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.38000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MARYLAND ST ECON DEV CORP</name>
        <lei>549300JJ16DDBSZWSN94</lei>
        <title>Maryland Economic Development Corp</title>
        <cusip>574205HG8</cusip>
        <identifiers>
          <isin value="US574205HG85"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>523454.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL EDU FACS FIN CORP TX SENIOR LIVING REVENUE</name>
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        <cusip>64542PCP8</cusip>
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          <isin value="US64542PCP80"/>
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        <valUSD>189000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>SAINT CLAIR CNTY IL CMNTY UNIT SCH DIST #187 CAHOKIA</name>
        <lei>N/A</lei>
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        <cusip>788550MQ1</cusip>
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          <isin value="US788550MQ18"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TEXAS ST PRIV ACTIVITY BOND SURFACE TRANSPRTN CORP REVENUE</name>
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          <isin value="US882667AM09"/>
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        <curCd>USD</curCd>
        <valUSD>955043.83000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CLIFTON TX HGR EDU FIN CORP EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Clifton Higher Education Finance Corp</title>
        <cusip>187145SA6</cusip>
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          <isin value="US187145SA66"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2010156.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
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        <name>PUBLIC FIN AUTH WI CHRT SCH REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
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        <cusip>744396JZ6</cusip>
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          <isin value="US744396JZ62"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>719393.08000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>CUYAHOGA CNTY OH HOSP REVENUE</name>
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          <isin value="US2322655V62"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE</name>
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          <isin value="US14054WAR60"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.13000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>UNION CNTY OR HOSP FAC AUTH</name>
        <lei>N/A</lei>
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        <cusip>906420CH5</cusip>
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          <isin value="US906420CH58"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501424.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SAINT CLAIR CNTY IL CMNTY UNIT SCH DIST #187 CAHOKIA</name>
        <lei>N/A</lei>
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        <cusip>788550MP3</cusip>
        <identifiers>
          <isin value="US788550MP35"/>
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        <curCd>USD</curCd>
        <valUSD>341860.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
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        <securityLending>
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        <name>ARIZONA ST INDL DEV AUTH SENIOR LIVING REVENUE</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052TBU8</cusip>
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          <isin value="US04052TBU88"/>
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        <curCd>USD</curCd>
        <valUSD>32375.00000000</valUSD>
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          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BROOKLYN PK MN CHRT SCH LEASE REVENUE</name>
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          <isin value="US114224AD04"/>
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          <maturityDt>2039-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>NEW YORK NY</name>
        <lei>549300ABYZD2SFD5JB29</lei>
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          <isin value="US64966QL578"/>
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          <maturityDt>2047-10-01</maturityDt>
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        <name>NATIONAL FIN AUTH NH MUNI CTFS</name>
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          <isin value="US63607WAW47"/>
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        <name>OTSEGO CHRT SCH LEASE REVENUE</name>
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        <name>SIERRA VISTA AZ INDL DEV AUTH AUTH ED FAC REV</name>
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          <isin value="US82652UAW27"/>
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        <name>TOBACCO SECURITIZATION AUTH STHRN CA TOBACCO SETTLEMENT REVE</name>
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          <isin value="US888804BA86"/>
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        <name>SKAGIT CNTY WA PUBLIC HOSP DIST #1</name>
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          <maturityDt>2054-12-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>BURBANK GLENDALE PASADENA CA ARPT AUTH ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</title>
        <cusip>120827EE6</cusip>
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          <isin value="US120827EE64"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE</name>
        <lei>549300KOSU8OC75V9238</lei>
        <title>Westchester County Local Development Corp</title>
        <cusip>95737TFM3</cusip>
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          <isin value="US95737TFM36"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-01</maturityDt>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI MF HSG REVENUE</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
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          <isin value="US74441XHS18"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE</name>
        <lei>N/A</lei>
        <title>New York Liberty Development Corp</title>
        <cusip>649519EG6</cusip>
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          <isin value="US649519EG63"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5498036.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.88000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IDAHO ST HSG &amp; FIN ASSN</name>
        <lei>5493002WM3NYB1LQB744</lei>
        <title>Idaho Housing &amp; Finance Association</title>
        <cusip>45129WQH6</cusip>
        <identifiers>
          <isin value="US45129WQH69"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1017162.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTH CAROLINA ST JOBS-ECON DEV AUTH HLTH FACS REVENUE</name>
        <lei>5493006X47I9VG3DL112</lei>
        <title>South Carolina Jobs-Economic Development Authority</title>
        <cusip>837032CE9</cusip>
        <identifiers>
          <isin value="US837032CE90"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2547136.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>APPLE VLY MN SENIOR LIVING REVENUE</name>
        <lei>549300AMWD6044L1SO95</lei>
        <title>City of Apple Valley MN</title>
        <cusip>03789YDH6</cusip>
        <identifiers>
          <isin value="US03789YDH62"/>
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        <balance>715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>435744.02000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>MONTGOMERY CNTY PA HGR EDU &amp; HLTH AUTH</name>
        <lei>N/A</lei>
        <title>Montgomery County Higher Education and Health Authority</title>
        <cusip>613603YX1</cusip>
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          <isin value="US613603YX12"/>
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        <valUSD>3640790.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport</title>
        <cusip>167593L59</cusip>
        <identifiers>
          <isin value="US167593L593"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2567275.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>ARIZONA ST INDL DEV AUTH SENIOR LIVING REVENUE</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052TCX1</cusip>
        <identifiers>
          <isin value="US04052TCX19"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19588.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>SHELBY CNTY TENN HEALTH EDL &amp; HSG FAC BRD STUDENT HSG REVENU</name>
        <lei>N/A</lei>
        <title>Shelby County Health &amp; Educational Facilities Board</title>
        <cusip>82170LAB1</cusip>
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          <isin value="US82170LAB18"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-06-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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        <name>PALOMAR HLTH CA REVENUE</name>
        <lei>N/A</lei>
        <title>Palomar Health</title>
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          <isin value="US697528AP23"/>
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          <maturityDt>2030-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>IDAHO ST HLTH FACS AUTH REVENUE</name>
        <lei>549300X43KY1C2WW0J97</lei>
        <title>Idaho Health Facilities Authority</title>
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          <isin value="US451295D225"/>
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          <maturityDt>2051-03-01</maturityDt>
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        <name>COLORADO ST EDUCTNL &amp; CULTURAL FACS AUTH REVENUE</name>
        <lei>549300BJRX2FHSSZP042</lei>
        <title>Colorado Educational &amp; Cultural Facilities Authority</title>
        <cusip>19645RB42</cusip>
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          <isin value="US19645RB425"/>
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          <maturityDt>2045-12-15</maturityDt>
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        <name>FLORIDA ST DEV FIN CORP</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp</title>
        <cusip>340618DV6</cusip>
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          <isin value="US340618DV61"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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          <maturityDt>2053-07-01</maturityDt>
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        <name>NEW HOPE CULTURAL EDU FACS FIN CORP TX SENIOR LIVING REVENUE</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp</title>
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          <isin value="US64542PCL76"/>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MASSACHUSETTS ST PORT AUTH</name>
        <lei>254900JRR8IDSSKWCL90</lei>
        <title>Massachusetts Port Authority</title>
        <cusip>575896RS6</cusip>
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          <isin value="US575896RS64"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2046-07-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NATIONAL FIN AUTH NH REVENUE</name>
        <lei>N/A</lei>
        <title>New Hampshire Business Finance Authority</title>
        <cusip>63607YBJ8</cusip>
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          <isin value="US63607YBJ82"/>
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        <balance>1250000.00000000</balance>
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        <debtSec>
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      <invstOrSec>
        <name>GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE</name>
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        <name>PUBLIC FIN AUTH WI EDUCTNL REVENUE</name>
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        <title>Public Finance Authority</title>
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          <isin value="US74445GAQ55"/>
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          <maturityDt>2049-06-15</maturityDt>
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      <invstOrSec>
        <name>NEW YORK ST MTGE AGY HOMEOWNER MTGE REVENUE</name>
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          <isin value="US64988YSG34"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MINNEAPOLIS MN SENIOR HSG &amp; HLTHCARE REVENUE</name>
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          <isin value="US603787AL62"/>
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        <name>DIST OF COLUMBIA REVENUE</name>
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        <name>COLORADO ST HLTH FACS AUTH REVENUE</name>
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        <name>ARLINGTON TX HGR EDU FIN CORP EDU REVENUE</name>
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        <name>COLORADO ST HLTH FACS AUTH REVENUE</name>
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        <name>MASSACHUSETTS ST DEV FIN AGY REVENUE</name>
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      <invstOrSec>
        <name>CLIFTON TX HGR EDU FIN CORP EDU REVENUE</name>
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        <name>SAN FRANCISCO CA CITY &amp; CNTY DCNTY DEV SPL TAX DIST NO</name>
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        <name>NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HAYWARD MN HLTH CARE FACS REVENUE</name>
        <lei>549300YF6QD4DXUDGL81</lei>
        <title>City of Hayward MN</title>
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          <isin value="US421306AC54"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TEXAS ST MUNI GAS ACQUISITION&amp; SPLY CORP IV</name>
        <lei>549300PTUE847QDBBW22</lei>
        <title>Texas Municipal Gas Acquisition &amp; Supply Corp IV</title>
        <cusip>88256PAT7</cusip>
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          <isin value="US88256PAT75"/>
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        <curCd>USD</curCd>
        <valUSD>2558476.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</title>
        <cusip>74529JQH1</cusip>
        <identifiers>
          <isin value="US74529JQH13"/>
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        <balance>19613000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4810815.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO IL BRD OF EDU DEDICATED CAPITAL IMPT TAX</name>
        <lei>N/A</lei>
        <title>Chicago Board of Education Dedicated Capital Improvement Tax</title>
        <cusip>167510BM7</cusip>
        <identifiers>
          <isin value="US167510BM78"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4487186.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MUNI ELEC AUTH OF GA</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
        <title>Municipal Electric Authority of Georgia</title>
        <cusip>62620HDK5</cusip>
        <identifiers>
          <isin value="US62620HDK59"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5153669.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>Chicago O'Hare International Airport</title>
        <cusip>167593KZ4</cusip>
        <identifiers>
          <isin value="US167593KZ49"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>750327.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEWARK HGR EDU FIN CORP TX EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Newark Higher Education Finance Corp</title>
        <cusip>650346GN3</cusip>
        <identifiers>
          <isin value="US650346GN36"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4003526.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.38000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SAINT PAUL MN HSG &amp; REDEV AUTH CHRT SCH LEASE REVENUE</name>
        <lei>549300FQCUW4VH929113</lei>
        <title>Housing &amp; Redevelopment Authority of The City of St Paul Minnesota</title>
        <cusip>852297AX8</cusip>
        <identifiers>
          <isin value="US852297AX80"/>
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        <balance>630000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>631915.89000000</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>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MASSACHUSETTS ST DEV FIN AGY REVENUE</name>
        <lei>549300UZSVMFXJK08K70</lei>
        <title>Massachusetts Development Finance Agency</title>
        <cusip>57584Y6G9</cusip>
        <identifiers>
          <isin value="US57584Y6G93"/>
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        <balance>580000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>614665.21000000</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>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FOUNTAIN CO URBAN RENEWAL AUTH TAX INCR REVENUE</name>
        <lei>N/A</lei>
        <title>Fountain Urban Renewal Authority</title>
        <cusip>35069WAD5</cusip>
        <identifiers>
          <isin value="US35069WAD56"/>
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        <balance>655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>636125.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>GREATER OUACHITA WTR CO INC LA WTRWKS &amp; SWR SYS REVENUE</name>
        <lei>N/A</lei>
        <title>Greater Ouachita Water Co</title>
        <cusip>392276BC4</cusip>
        <identifiers>
          <isin value="US392276BC45"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1018633.80000000</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>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLIFTON TX HGR EDU FIN CORP EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Clifton Higher Education Finance Corp</title>
        <cusip>187145UF2</cusip>
        <identifiers>
          <isin value="US187145UF26"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>483861.55000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARIZONA ST INDL DEV AUTH EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Arizona Industrial Development Authority</title>
        <cusip>04052BRW6</cusip>
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          <isin value="US04052BRW62"/>
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        <balance>1115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1025168.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE</name>
        <lei>549300X8VKJ215S2R571</lei>
        <title>California Community Choice Financing Authority</title>
        <cusip>13013JCM6</cusip>
        <identifiers>
          <isin value="US13013JCM62"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2160765.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW HOPE CULTURAL EDU FACS FIN CORP TX SENIOR LIVING REVENUE</name>
        <lei>N/A</lei>
        <title>New Hope Cultural Education Facilities Finance Corp</title>
        <cusip>64542PAW5</cusip>
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          <isin value="US64542PAW59"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SALT LAKE CITY UT ARPT REVENUE</name>
        <lei>N/A</lei>
        <title>City of Salt Lake City UT Airport Revenue</title>
        <cusip>795576LC9</cusip>
        <identifiers>
          <isin value="US795576LC93"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1925296.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OSCEOLA AR SOL WST DIST REVENUE</name>
        <lei>N/A</lei>
        <title>City of Osceola AR</title>
        <cusip>688008AB7</cusip>
        <identifiers>
          <isin value="US688008AB76"/>
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        <balance>1165000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1171685.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE</name>
        <lei>N/A</lei>
        <title>New York Transportation Development Corp</title>
        <cusip>650116GN0</cusip>
        <identifiers>
          <isin value="US650116GN00"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>565331.30000000</valUSD>
        <pctVal>0.373544943876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</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>CAPITAL TRUST AUTH FL EDUCTNL FACS REVENUE</name>
        <lei>N/A</lei>
        <title>Capital Trust Authority</title>
        <cusip>14054WAQ8</cusip>
        <identifiers>
          <isin value="US14054WAQ87"/>
        </identifiers>
        <balance>205000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216734.22000000</valUSD>
        <pctVal>0.143208012798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</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>COLORADO ST HLTH FACS AUTH REVENUE</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
        <cusip>19648FHS6</cusip>
        <identifiers>
          <isin value="US19648FHS65"/>
        </identifiers>
        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>742541.48000000</valUSD>
        <pctVal>0.490637287325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLORADO ST HLTH FACS AUTH REVENUE</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>Colorado Health Facilities Authority</title>
        <cusip>19648AQ99</cusip>
        <identifiers>
          <isin value="US19648AQ993"/>
        </identifiers>
        <balance>1660000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1115754.06000000</valUSD>
        <pctVal>0.737239009625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>CLIFTON TX HGR EDU FIN CORP EDU REVENUE</name>
        <lei>N/A</lei>
        <title>Clifton Higher Education Finance Corp</title>
        <cusip>187145UR6</cusip>
        <identifiers>
          <isin value="US187145UR63"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202162.18000000</valUSD>
        <pctVal>0.133579478408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</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>MINNEAPOLIS MN SENIOR HSG &amp; HLTHCARE REVENUE</name>
        <lei>54930069TEI1INHRHS55</lei>
        <title>City of Minneapolis MN</title>
        <cusip>603787AK8</cusip>
        <identifiers>
          <isin value="US603787AK89"/>
        </identifiers>
        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213877.40000000</valUSD>
        <pctVal>0.141320357424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APPLE VLY MN SENIOR LIVING REVENUE</name>
        <lei>549300AMWD6044L1SO95</lei>
        <title>City of Apple Valley MN</title>
        <cusip>03789YDT0</cusip>
        <identifiers>
          <isin value="US03789YDT01"/>
        </identifiers>
        <balance>1035000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>586147.31000000</valUSD>
        <pctVal>0.387299206707</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>NORTH CAROLINA ST MED CARE COMMISSION RETMNT FACS REVENUE</name>
        <lei>549300FH6KOXGCHQYG81</lei>
        <title>North Carolina Medical Care Commission</title>
        <cusip>65820YSY3</cusip>
        <identifiers>
          <isin value="US65820YSY31"/>
        </identifiers>
        <balance>790000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>826996.10000000</valUSD>
        <pctVal>0.546441019204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</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>NEW YORK ST MTGE AGY HOMEOWNER MTGE REVENUE</name>
        <lei>N/A</lei>
        <title>State of New York Mortgage Agency Homeowner Mortgage Revenue</title>
        <cusip>64988YZG5</cusip>
        <identifiers>
          <isin value="US64988YZG50"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5090021.00000000</valUSD>
        <pctVal>3.363251970612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MISSISSIPPI ST BUSINESS FIN CORP</name>
        <lei>549300DYV074JUDKBQ77</lei>
        <title>Mississippi Business Finance Corp</title>
        <cusip>605279GX0</cusip>
        <identifiers>
          <isin value="US605279GX05"/>
        </identifiers>
        <balance>2940000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2940000.00000000</valUSD>
        <pctVal>1.942616895608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>New York State Dormitory Authority</title>
        <cusip>64990GZS4</cusip>
        <identifiers>
          <isin value="US64990GZS47"/>
        </identifiers>
        <balance>5600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4434324.16000000</valUSD>
        <pctVal>2.929997630551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT</name>
        <lei>N/A</lei>
        <title>Golden State Tobacco Securitization Corp</title>
        <cusip>38122ND90</cusip>
        <identifiers>
          <isin value="US38122ND906"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1581730.05000000</valUSD>
        <pctVal>1.045134530415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2024-10-28</ncom:dateSigned>
      <ncom:nameOfApplicant>abrdn National Municipal Income Fund</ncom:nameOfApplicant>
      <ncom:signature>Sharon Ferrari</ncom:signature>
      <ncom:signerName>Sharon Ferrari</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
