Quarterly Holdings Report
for
Fidelity® California Municipal Income Fund
May 31, 2021
CFL-QTLY-0721
1.802197.117
Schedule of Investments May 31, 2021 (Unaudited)
Showing Percentage of Net Assets
| Municipal Bonds - 96.8% | |||
| Principal Amount (000s) | Value (000s) | ||
| California - 96.7% | |||
| ABAG Fin. Auth. for Nonprofit Corps. Rev. (Sharp HealthCare Proj.) Series 2012 A: | |||
| 5% 8/1/24 (Pre-Refunded to 2/1/22 @ 100) | $1,050 | $1,084 | |
| 5% 8/1/25 (Pre-Refunded to 2/1/22 @ 100) | 1,245 | 1,285 | |
| 5% 8/1/27 (Pre-Refunded to 2/1/22 @ 100) | 300 | 310 | |
| 5% 8/1/28 (Pre-Refunded to 2/1/22 @ 100) | 400 | 413 | |
| ABC Unified School District Series 1997 C: | |||
| 0% 8/1/31 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,810 | 2,378 | |
| 0% 8/1/32 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 3,900 | 3,222 | |
| Alameda Corridor Trans. Auth. Rev.: | |||
| Series 2013 A: | |||
| 5% 10/1/24 | 11,530 | 12,766 | |
| 5% 10/1/25 | 5,245 | 5,805 | |
| Series 2016 B: | |||
| 5% 10/1/34 | 2,530 | 2,998 | |
| 5% 10/1/35 | 4,000 | 4,733 | |
| Anaheim Pub. Fing. Auth. Lease Rev. (Anaheim Pub. Impt. Proj.): | |||
| Series 1997 A, 6% 9/1/24 (FSA Insured) | 900 | 987 | |
| Series 1997 C, 0% 9/1/22 (FSA Insured) | 5,150 | 5,122 | |
| Antelope Valley Cmnty. College District Series A: | |||
| 5% 8/1/31 | 1,325 | 1,626 | |
| 5% 8/1/32 | 1,345 | 1,652 | |
| 5% 8/1/33 | 1,805 | 2,213 | |
| 5% 8/1/34 | 3,000 | 3,671 | |
| 5% 8/1/35 | 4,000 | 4,896 | |
| Bay Area Toll Auth. San Francisco Bay Toll Bridge Rev. Bonds: | |||
| Series 2018 A, 2.625%, tender 4/1/26 (a) | 3,000 | 3,255 | |
| Series 2021 A, 2%, tender 4/1/28 (a) | 17,000 | 18,158 | |
| Series B, 2.85%, tender 4/1/25 (a) | 7,000 | 7,571 | |
| Series C, 2.1%, tender 4/1/22 (a) | 7,000 | 7,045 | |
| Series H, 2.125%, tender 4/1/25 (a) | 4,000 | 4,210 | |
| Beverly Hills Fin. Auth. Rev. (2007 Rfdg. Proj.) Series A: | |||
| 5% 6/1/25 (Pre-Refunded to 6/1/22 @ 100) | 4,355 | 4,569 | |
| 5% 6/1/28 (Pre-Refunded to 6/1/22 @ 100) | 3,045 | 3,195 | |
| California County Tobacco Securitization Agcy. Tobacco Settlement Asset-Backed Series 2020 A: | |||
| 5% 6/1/27 | 400 | 503 | |
| 5% 6/1/28 | 420 | 540 | |
| 5% 6/1/29 | 500 | 658 | |
| 5% 6/1/30 | 300 | 401 | |
| 5% 6/1/31 | 300 | 399 | |
| 5% 6/1/32 | 250 | 331 | |
| 5% 6/1/33 | 250 | 329 | |
| California Dept. of Wtr. Resources Series AI, 5% 12/1/25 (Pre-Refunded to 12/1/21 @ 100) | 2,700 | 2,766 | |
| California Edl. Facilities Auth. Rev.: | |||
| (Pomona College Proj.) Series 2005 A, 0% 7/1/38 | 3,155 | 2,251 | |
| (Santa Clara Univ. Proj.): | |||
| Series 1999, 5.25% 9/1/26 (AMBAC Insured) | 7,910 | 9,491 | |
| Series 2017 C: | |||
| 5% 4/1/30 | 650 | 819 | |
| 5% 4/1/31 | 890 | 1,117 | |
| 5% 4/1/33 | 1,245 | 1,555 | |
| Series 2018 A: | |||
| 5% 10/1/34 | 760 | 951 | |
| 5% 10/1/36 | 840 | 1,045 | |
| 5% 10/1/38 | 620 | 768 | |
| 5% 10/1/42 | 4,000 | 4,915 | |
| 5% 10/1/46 | 6,235 | 7,614 | |
| Series 2021 A: | |||
| 5% 4/1/29 | 400 | 521 | |
| 5% 4/1/30 | 425 | 563 | |
| 5% 4/1/31 | 460 | 621 | |
| California Gen. Oblig.: | |||
| Series 2002, 5% 10/1/32 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 10 | 10 | |
| Series 2004: | |||
| 5.25% 4/1/27 | 5 | 5 | |
| 5.25% 4/1/29 | 5 | 5 | |
| 5.25% 12/1/33 | 105 | 105 | |
| 5.5% 4/1/28 | 5 | 5 | |
| 5.5% 4/1/30 | 25 | 25 | |
| Series 2007: | |||
| 5.625% 5/1/26 | 120 | 120 | |
| 5.75% 5/1/30 | 90 | 90 | |
| Series 2012, 5.25% 4/1/35 | 3,500 | 3,647 | |
| Series 2019, 5% 10/1/25 | 5,720 | 6,853 | |
| Series 2020: | |||
| 4% 3/1/23 | 5,000 | 5,338 | |
| 4% 3/1/24 | 7,500 | 8,282 | |
| 4% 11/1/39 | 5,500 | 6,720 | |
| 5% 11/1/27 | 2,000 | 2,540 | |
| 5% 11/1/28 | 5,005 | 6,486 | |
| 5% 3/1/32 | 4,800 | 6,352 | |
| 5% 3/1/33 | 5,000 | 6,596 | |
| Series 2021: | |||
| 5% 9/1/28 (b) | 10,000 | 12,790 | |
| 5% 12/1/46 | 1,500 | 1,946 | |
| California Health Facilities Fing. Auth. Rev.: | |||
| (Children's Hosp. of Orange County Proj.) Series 2012 A: | |||
| 5% 11/15/22 | 2,500 | 2,657 | |
| 5% 11/15/23 | 2,000 | 2,122 | |
| (Lucile Salter Packrd Chil Hosp. Proj.) Series 2017 A, 5% 11/15/42 | 1,750 | 2,127 | |
| (Stanford Health Proj.) Series 2017 A: | |||
| 5% 11/15/35 | 3,405 | 4,278 | |
| 5% 11/15/36 | 5,000 | 6,275 | |
| 5% 11/15/37 | 3,000 | 3,759 | |
| Bonds: | |||
| (Providence St. Jospeh Health) Series 2016 B3, 2%, tender 10/1/25 (a) | 8,190 | 8,736 | |
| Series 2019 B, 5%, tender 10/1/27 (a) | 7,700 | 9,708 | |
| Series 2011 D: | |||
| 5% 8/15/22 (Pre-Refunded to 8/15/21 @ 100) | 900 | 909 | |
| 5% 8/15/23 (Pre-Refunded to 8/15/21 @ 100) | 700 | 707 | |
| Series 2016 A, 5% 11/15/46 (Pre-Refunded to 11/15/25 @ 100) | 3,335 | 4,008 | |
| Series 2017 A: | |||
| 4% 11/1/38 | 5,475 | 6,423 | |
| 5% 11/15/32 | 1,400 | 1,758 | |
| Series 2018 A, 5% 11/15/27 | 500 | 635 | |
| Series 2020 A, 4% 4/1/49 | 7,000 | 8,100 | |
| California Hsg. Fin. Agcy.: | |||
| Series 2019 A, 4% 3/20/33 | 6,849 | 8,085 | |
| Series 2021 1, 3.5% 11/20/35 | 6,183 | 7,243 | |
| California Infrastructure & Econ. Dev. Series 2019: | |||
| 5% 8/1/44 | 7,610 | 9,587 | |
| 5% 8/1/49 | 11,000 | 13,774 | |
| California Infrastructure and Econ. Dev. Bank Rev.: | |||
| Bonds (Los Angeles County Museum of Art Proj.) Series 2021 A, 1.2%, tender 6/1/28 (a) | 7,000 | 6,930 | |
| Series 2020, 4% 7/1/50 | 7,125 | 8,223 | |
| California Muni. Fin. Auth.: | |||
| (Orange County Civic Ctr. Infrastructure Impt. Prog.) Series 2017 A: | |||
| 5% 6/1/32 | 2,750 | 3,382 | |
| 5% 6/1/33 | 2,320 | 2,849 | |
| 5% 6/1/34 | 5,290 | 6,487 | |
| 5% 6/1/35 | 5,110 | 6,258 | |
| 5% 6/1/36 | 5,830 | 7,126 | |
| 5% 6/1/37 | 3,000 | 3,659 | |
| Series 2019 A, 2.65% 8/1/36 | 9,817 | 10,498 | |
| California Muni. Fin. Auth. Rev.: | |||
| (Biola Univeristy, Inc. Proj.) Series 2017: | |||
| 5% 10/1/25 | 305 | 359 | |
| 5% 10/1/26 | 715 | 864 | |
| 5% 10/1/28 | 2,130 | 2,609 | |
| 5% 10/1/32 | 1,000 | 1,207 | |
| (Channing House Proj.) Series 2017 A: | |||
| 4% 5/15/29 | 2,000 | 2,342 | |
| 4% 5/15/30 | 1,575 | 1,829 | |
| 4% 5/15/31 | 2,150 | 2,486 | |
| 4% 5/15/32 | 1,000 | 1,152 | |
| 5% 5/15/33 | 895 | 1,108 | |
| 5% 5/15/34 | 1,000 | 1,238 | |
| (Institute On Aging Proj.) Series 2017: | |||
| 5% 8/15/27 | 230 | 287 | |
| 5% 8/15/29 | 245 | 304 | |
| 5% 8/15/30 | 225 | 278 | |
| 5% 8/15/33 | 750 | 923 | |
| 5% 8/15/36 | 1,435 | 1,758 | |
| (Pomona College Proj.) Series 2017: | |||
| 4% 1/1/37 (Pre-Refunded to 1/1/28 @ 100) | 1,250 | 1,498 | |
| 4% 1/1/38 (Pre-Refunded to 1/1/28 @ 100) | 1,500 | 1,798 | |
| 5% 1/1/32 (Pre-Refunded to 1/1/28 @ 100) | 1,000 | 1,262 | |
| 5% 1/1/33 (Pre-Refunded to 1/1/28 @ 100) | 500 | 631 | |
| (Univ. of Verne Proj.) Series 2017 A: | |||
| 5% 6/1/27 | 1,000 | 1,245 | |
| 5% 6/1/28 | 1,000 | 1,242 | |
| 5% 6/1/30 | 1,555 | 1,915 | |
| 5% 6/1/32 | 1,000 | 1,228 | |
| 5% 6/1/33 | 1,000 | 1,226 | |
| 5% 6/1/35 | 1,000 | 1,222 | |
| 5% 6/1/43 | 3,750 | 4,522 | |
| Series 2016 A, 5% 11/1/36 (c) | 1,000 | 1,154 | |
| Series 2017 A: | |||
| 5% 7/1/29 | 575 | 695 | |
| 5% 7/1/31 | 1,000 | 1,199 | |
| 5% 7/1/32 | 1,400 | 1,674 | |
| 5% 7/1/33 | 1,000 | 1,193 | |
| 5% 7/1/34 | 1,395 | 1,661 | |
| 5% 7/1/35 | 1,500 | 1,784 | |
| 5% 7/1/36 | 1,500 | 1,780 | |
| 5% 7/1/37 | 1,250 | 1,481 | |
| Series 2017 B: | |||
| 5% 7/1/28 | 1,250 | 1,524 | |
| 5% 7/1/29 | 1,300 | 1,572 | |
| 5% 7/1/30 | 750 | 902 | |
| 5% 7/1/31 | 800 | 959 | |
| 5% 7/1/32 | 1,385 | 1,656 | |
| Series 2017: | |||
| 5% 10/1/27 | 500 | 618 | |
| 5% 10/1/36 | 1,250 | 1,498 | |
| 5% 10/1/37 | 500 | 598 | |
| 5% 10/1/39 | 1,750 | 2,083 | |
| Series 2018: | |||
| 5% 10/1/31 | 200 | 248 | |
| 5% 10/1/32 | 225 | 278 | |
| 5% 10/1/33 | 225 | 277 | |
| 5% 10/1/34 | 225 | 277 | |
| 5% 10/1/35 | 225 | 276 | |
| 5% 10/1/36 | 250 | 306 | |
| 5% 10/1/37 | 550 | 672 | |
| 5% 10/1/38 | 345 | 421 | |
| Series 2019 A: | |||
| 5% 4/1/30 | 3,000 | 3,844 | |
| 5% 4/1/31 | 2,000 | 2,551 | |
| 5% 4/1/32 | 3,000 | 3,815 | |
| 5% 4/1/35 | 1,780 | 2,232 | |
| 5% 4/1/36 | 1,125 | 1,408 | |
| 5% 4/1/37 | 1,475 | 1,841 | |
| 5% 4/1/40 | 2,500 | 3,101 | |
| 5% 4/1/41 | 3,865 | 4,784 | |
| Series 2019: | |||
| 5% 7/1/34 | 825 | 1,049 | |
| 5% 7/1/39 | 1,000 | 1,253 | |
| 5% 7/1/49 | 2,100 | 2,582 | |
| California Muni. Fin. Auth. Solid Waste Rev. Bonds (Republic Svcs., Inc. Proj.) Series 2010, 0.15%, tender 7/1/21 (a) | 7,000 | 7,000 | |
| California Muni. Fin. Auth. Sr Living Series 2019: | |||
| 5% 11/15/39 | 1,155 | 1,356 | |
| 5% 11/15/49 | 2,500 | 2,899 | |
| California Muni. Fin. Auth. Student Hsg.: | |||
| (CHF Davis II, L.L.C. Orchard Park Student Hsg. Proj.) Series 2021, 4% 5/15/46 (Build America Mutual Assurance Insured) | 2,000 | 2,378 | |
| (CHF-Davis I, LLC - West Village Student Hsg. Proj.) Series 2018: | |||
| 5% 5/15/26 | 4,210 | 5,035 | |
| 5% 5/15/27 | 4,635 | 5,674 | |
| 5% 5/15/34 | 10,000 | 12,269 | |
| (CHF-Riverside I, LLC - UCR Dundee-Glasgow Student Hsg. Proj.) Series 2018: | |||
| 5% 5/15/33 | 1,345 | 1,652 | |
| 5% 5/15/35 | 1,955 | 2,386 | |
| 5% 5/15/36 | 1,500 | 1,825 | |
| 5% 5/15/43 | 1,500 | 1,793 | |
| California Poll. Cont. Fing. Auth. Solid Waste Disp. Rev. Bonds: | |||
| (Republic Svcs., Inc. Proj.) Series 2017 A1, 0.18%, tender 7/15/21 (a)(c)(d) | 5,000 | 5,000 | |
| (Waste Mgmt., Inc. Proj.) Series 2002 C, 3.25%, tender 6/3/24 (a)(d) | 7,500 | 8,149 | |
| California Pub. Fin. Auth. Rev. Series 2021 A: | |||
| 4% 10/15/26 | 415 | 476 | |
| 4% 10/15/27 | 400 | 465 | |
| 4% 10/15/28 | 360 | 423 | |
| California Pub. Fin. Auth. Univ. Hsg. Rev.: | |||
| (Claremont Colleges Proj.) Series 2017 A, 5% 7/1/27 (c) | 1,465 | 1,231 | |
| (NCCD - Claremont Properties LLC - Claremont Colleges Proj.) Series 2017 A, 5% 7/1/47 (c) | 1,500 | 1,260 | |
| California Pub. Works Board Lease Rev.: | |||
| (Coalinga State Hosp. Proj.) Series 2013 E, 5% 6/1/29 | 7,000 | 7,657 | |
| (Dept. of Corrections & Rehab. Proj.) Series 2011 C: | |||
| 5% 10/1/27 | 9,530 | 9,683 | |
| 5.25% 10/1/24 | 4,170 | 4,240 | |
| 5.25% 10/1/25 | 2,875 | 2,923 | |
| 5.75% 10/1/31 | 4,000 | 4,074 | |
| (Various Cap. Projs.): | |||
| Series 2012 A: | |||
| 5% 4/1/24 | 1,000 | 1,041 | |
| 5% 4/1/25 | 5,300 | 5,514 | |
| Series 2012 G, 5% 11/1/25 | 2,500 | 2,670 | |
| Series 2016 D, 4% 4/1/33 | 1,660 | 1,931 | |
| (Various Judicial Council Projs.) Series 2011 D: | |||
| 5% 12/1/22 (Pre-Refunded to 12/1/21 @ 100) | 3,000 | 3,072 | |
| 5% 12/1/23 (Pre-Refunded to 12/1/21 @ 100) | 2,800 | 2,867 | |
| Series A, 5% 9/1/29 | 1,425 | 1,630 | |
| California State Univ. Rev. Bonds Series 2016 B1, 1.6%, tender 11/1/26 (a) | 5,000 | 5,211 | |
| California Statewide Cmntys. Dev. Auth.: | |||
| Series 2016: | |||
| 5% 5/15/34 | 1,250 | 1,464 | |
| 5% 5/15/35 | 4,725 | 5,524 | |
| 5% 5/15/40 | 2,250 | 2,607 | |
| Series 2017, 5% 5/15/47 | 1,000 | 1,177 | |
| California Statewide Cmntys. Dev. Auth. Hosp. Rev. Series 2018: | |||
| 5% 1/1/33 | 1,595 | 1,950 | |
| 5% 1/1/38 | 3,240 | 3,865 | |
| 5% 1/1/43 | 7,300 | 8,655 | |
| California Statewide Cmntys. Dev. Auth. Rev.: | |||
| (Huntington Memorial Hosp. Proj.) Series 2018: | |||
| 5% 7/1/27 | 245 | 300 | |
| 5% 7/1/28 | 660 | 827 | |
| 5% 7/1/29 | 695 | 862 | |
| 5% 7/1/30 | 730 | 899 | |
| 5% 7/1/31 | 765 | 939 | |
| 5% 7/1/32 | 805 | 985 | |
| 5% 7/1/33 | 845 | 1,032 | |
| 5% 7/1/34 | 885 | 1,078 | |
| 5% 7/1/35 | 925 | 1,125 | |
| 5% 7/1/36 | 500 | 607 | |
| 5% 7/1/37 | 650 | 787 | |
| 5% 7/1/38 | 500 | 604 | |
| 5% 7/1/43 | 1,250 | 1,498 | |
| 5% 7/1/48 | 9,000 | 10,720 | |
| (Lancer Edl. Student Hsg. Proj.) Series 2019 A: | |||
| 5% 6/1/34 (c) | 375 | 457 | |
| 5% 6/1/39 (c) | 475 | 572 | |
| 5% 6/1/51 (c) | 1,440 | 1,702 | |
| (Viamonte Sr. Living 1 Proj.) Series 2018 B, 3% 7/1/27 | 3,000 | 3,005 | |
| Series 2015: | |||
| 5% 2/1/35 | 1,900 | 2,027 | |
| 5% 2/1/45 | 4,440 | 4,662 | |
| Series 2016: | |||
| 5% 10/1/26 | 1,125 | 1,380 | |
| 5% 10/1/27 | 2,360 | 2,879 | |
| 5% 10/1/28 | 1,230 | 1,492 | |
| 5% 10/1/29 | 675 | 814 | |
| 5% 10/1/30 | 1,100 | 1,321 | |
| 5% 10/1/33 | 1,850 | 2,207 | |
| Series 2017 A, 5% 11/1/32 (c) | 1,135 | 1,353 | |
| Series 2018 A, 5% 3/1/42 | 7,500 | 9,096 | |
| Carlsbad Unified School District: | |||
| Series 2009 B, 6% 5/1/34 (Pre-Refunded to 5/1/24 @ 100) | 5,300 | 6,164 | |
| Series 2017 A: | |||
| 4% 5/1/31 | 1,500 | 1,761 | |
| 4% 5/1/32 | 1,150 | 1,346 | |
| 4% 5/1/33 | 1,375 | 1,599 | |
| 4% 5/1/34 | 1,375 | 1,590 | |
| Chaffey Unified High School District Series 2017 C, 5.25% 8/1/47 | 6,460 | 8,044 | |
| Corona-Norco Unified School District Series 2013 A: | |||
| 5% 9/1/25 (Pre-Refunded to 9/1/23 @ 100) | 645 | 715 | |
| 5% 9/1/28 (Pre-Refunded to 9/1/23 @ 100) | 1,250 | 1,386 | |
| 5% 9/1/32 (Pre-Refunded to 9/1/23 @ 100) | 1,125 | 1,247 | |
| 5% 9/1/35 (Pre-Refunded to 9/1/23 @ 100) | 585 | 648 | |
| Desert Sands Unified School District Series 2013 B: | |||
| 5% 6/1/27 (Pre-Refunded to 6/1/23 @ 100) | 2,000 | 2,195 | |
| 5% 6/1/28 (Pre-Refunded to 6/1/23 @ 100) | 2,000 | 2,195 | |
| 5% 6/1/29 (Pre-Refunded to 6/1/23 @ 100) | 1,650 | 1,811 | |
| 5% 6/1/30 (Pre-Refunded to 6/1/23 @ 100) | 2,500 | 2,744 | |
| 5% 6/1/31 (Pre-Refunded to 6/1/23 @ 100) | 1,750 | 1,921 | |
| Eastern Muni. Wtr. District Fing. Auth. Series 2020 A: | |||
| 5% 7/1/29 | 250 | 331 | |
| 5% 7/1/30 | 250 | 337 | |
| El Camino Hosp. District Series 2006, 0% 8/1/27 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,425 | 1,328 | |
| El Dorado County Gen. Oblig. Series 2012, 5% 9/1/23 | 1,345 | 1,425 | |
| El Dorado Irr. Distr. Rev. Series 2016 C, 5% 3/1/36 (Pre-Refunded to 3/1/26 @ 100) | 330 | 400 | |
| Elk Grove Fin. Auth. Spl. Tax Rev.: | |||
| (Elk Grove Cfd Laguna Ridge Proj.) Series 2016, 5% 9/1/41 | 4,500 | 5,226 | |
| Series 2015: | |||
| 5% 9/1/27 | 1,940 | 2,288 | |
| 5% 9/1/28 | 4,125 | 4,853 | |
| 5% 9/1/29 | 4,325 | 5,089 | |
| 5% 9/1/30 (Build America Mutual Assurance Insured) | 1,135 | 1,335 | |
| 5% 9/1/31 (Build America Mutual Assurance Insured) | 1,750 | 2,057 | |
| 5% 9/1/32 (Build America Mutual Assurance Insured) | 1,615 | 1,898 | |
| Series 2016: | |||
| 5% 9/1/27 | 1,875 | 2,265 | |
| 5% 9/1/28 | 1,500 | 1,797 | |
| 5% 9/1/29 | 2,000 | 2,381 | |
| 5% 9/1/30 | 1,720 | 2,036 | |
| 5% 9/1/31 | 2,500 | 2,949 | |
| Elk Grove Unified School District Spl. Tax (Cmnty. Facilities District #1 Proj.) Series 1995, 6.5% 12/1/24 (AMBAC Insured) | 2,280 | 2,536 | |
| Empire Union School District Spl. Tax (Cmnty. Facilities District No. 1987 Proj.) Series 2002 A: | |||
| 0% 10/1/24 (AMBAC Insured) | 1,665 | 1,611 | |
| 0% 10/1/25 (AMBAC Insured) | 1,665 | 1,583 | |
| Encinitas Union School District Series 1996, 0% 8/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,000 | 1,000 | |
| Escondido Union High School District Series 2008 A: | |||
| 0% 8/1/33 (Assured Guaranty Corp. Insured) | 5,655 | 4,553 | |
| 0% 8/1/34 (Assured Guaranty Corp. Insured) | 3,500 | 2,744 | |
| Foothill-De Anza Cmnty. College District Series 1999 B, 0% 8/1/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 5,000 | 4,927 | |
| Foothill/Eastern Trans. Corridor Agcy. Toll Road Rev. Series 2015 A, 0% 1/15/33 (FSA Insured) | 9,000 | 7,030 | |
| Golden State Tobacco Securitization Corp. Tobacco Settlement Rev.: | |||
| Series 2005 A, 0% 6/1/27 (AMBAC Insured) | 5,390 | 5,047 | |
| Series 2013 A, 5% 6/1/30 | 6,000 | 6,526 | |
| Series 2015 A, 5% 6/1/33 | 2,355 | 2,755 | |
| Series 2017 A1: | |||
| 5% 6/1/21 | 2,000 | 2,000 | |
| 5% 6/1/22 | 2,000 | 2,094 | |
| 5% 6/1/23 | 2,000 | 2,185 | |
| 5% 6/1/24 | 3,000 | 3,404 | |
| 5% 6/1/25 | 3,050 | 3,577 | |
| 5% 6/1/29 | 3,000 | 3,668 | |
| Series A, 0% 6/1/24 (AMBAC Insured) | 8,030 | 7,906 | |
| Grossmont-Cuyamaca Cmnty. College District Series 2021 C, 4% 8/1/46 (b) | 4,250 | 5,146 | |
| Irvine Reassessment District 12-1 Ltd. Oblig.: | |||
| Series 2012: | |||
| 4% 9/2/21 | 1,750 | 1,767 | |
| 5% 9/2/23 | 1,000 | 1,060 | |
| 5% 9/2/25 | 500 | 529 | |
| Series 2013: | |||
| 5% 9/2/24 | 825 | 914 | |
| 5% 9/2/26 | 800 | 883 | |
| Series 2019: | |||
| 4% 9/2/38 | 1,000 | 1,168 | |
| 4% 9/2/39 | 1,000 | 1,165 | |
| 5% 9/2/44 | 2,545 | 3,210 | |
| La Quinta Redev. Agcy.: | |||
| (La Quinta Redev. Proj. Areas No. 1 and 2) Series 2014 A: | |||
| 5% 9/1/25 (Pre-Refunded to 9/1/24 @ 100) | 2,000 | 2,306 | |
| 5% 9/1/26 (Pre-Refunded to 9/1/24 @ 100) | 1,860 | 2,144 | |
| 5% 9/1/27 (Pre-Refunded to 9/1/24 @ 100) | 1,725 | 1,989 | |
| 5% 9/1/28 (Pre-Refunded to 9/1/24 @ 100) | 1,000 | 1,153 | |
| 5% 9/1/29 (Pre-Refunded to 9/1/24 @ 100) | 1,250 | 1,441 | |
| Series 2013 A: | |||
| 5% 9/1/24 (Pre-Refunded to 9/1/23 @ 100) | 3,830 | 4,246 | |
| 5% 9/1/25 (Pre-Refunded to 9/1/23 @ 100) | 4,085 | 4,528 | |
| 5% 9/1/26 (Pre-Refunded to 9/1/23 @ 100) | 4,105 | 4,550 | |
| Ladera Ranch Cmnty. Facilities District 2004-1 Series 2014 A: | |||
| 5% 8/15/27 | 1,765 | 1,817 | |
| 5% 8/15/28 | 1,960 | 2,017 | |
| 5% 8/15/29 | 4,225 | 4,347 | |
| 5% 8/15/30 | 4,555 | 4,686 | |
| Long Beach Bond Fin. Auth. Lease Series 2012 A: | |||
| 5% 8/1/24 | 1,000 | 1,055 | |
| 5% 8/1/25 | 1,000 | 1,055 | |
| 5% 8/1/26 | 1,000 | 1,055 | |
| 5% 8/1/27 | 1,000 | 1,055 | |
| 5% 8/1/28 | 1,000 | 1,055 | |
| 5% 8/1/29 | 1,000 | 1,054 | |
| 5% 8/1/30 | 1,000 | 1,053 | |
| 5% 8/1/31 | 1,000 | 1,052 | |
| Long Beach Bond Fin. Auth. Natural Gas Purchase Rev. Series 2007 A, 5.25% 11/15/21 | 3,790 | 3,877 | |
| Long Beach Cmnty. College Series 2008 A: | |||
| 0% 6/1/28 (FSA Insured) | 2,995 | 2,726 | |
| 0% 6/1/31 (FSA Insured) | 8,285 | 6,946 | |
| Long Beach Hbr. Rev.: | |||
| Series 2017 A: | |||
| 5% 5/15/26 (d) | 1,110 | 1,334 | |
| 5% 5/15/27 (d) | 2,000 | 2,463 | |
| 5% 5/15/29 (d) | 1,350 | 1,657 | |
| 5% 5/15/30 (d) | 1,300 | 1,592 | |
| 5% 5/15/31 (d) | 2,400 | 2,932 | |
| 5% 5/15/32 (d) | 1,760 | 2,147 | |
| 5% 5/15/33 (d) | 1,350 | 1,643 | |
| 5% 5/15/34 (d) | 1,650 | 2,004 | |
| 5% 5/15/35 (d) | 2,500 | 3,034 | |
| 5% 5/15/36 (d) | 3,000 | 3,634 | |
| 5% 5/15/37 (d) | 2,755 | 3,330 | |
| Series 2019 A, 5% 5/15/44 | 10,000 | 12,668 | |
| Long Beach Unified School District Series 2009: | |||
| 5.25% 8/1/33 | 410 | 411 | |
| 5.75% 8/1/33 | 170 | 171 | |
| Los Angeles Cmnty. College District Series 2017 J, 4% 8/1/33 | 2,500 | 2,970 | |
| Los Angeles Cmnty. Redev. Agcy. Lease Rev. (Vermont Manchester Social Svcs. Proj.) Series 2005, 5% 9/1/21 (AMBAC Insured) | 2,805 | 2,815 | |
| Los Angeles County Ctfs. of Prtn. (Disney Concert Hall Parking Garage Proj.) Series 2012, 5% 3/1/23 | 1,600 | 1,729 | |
| Los Angeles County Reg'l. Fin. Auth. (MonteCedro, Inc. Proj.) Series 2014 A, 5% 11/15/44 | 2,250 | 2,373 | |
| Los Angeles Dept. Arpt. Rev.: | |||
| Series 2015 A: | |||
| 5% 5/15/24 (d) | 795 | 903 | |
| 5% 5/15/25 (d) | 2,250 | 2,640 | |
| 5% 5/15/26 (d) | 1,715 | 2,010 | |
| 5% 5/15/27 (d) | 1,250 | 1,460 | |
| 5% 5/15/28 (d) | 1,260 | 1,467 | |
| 5% 5/15/29 (d) | 1,575 | 1,828 | |
| 5% 5/15/30 (d) | 1,400 | 1,622 | |
| Series 2015 D: | |||
| 5% 5/15/23 (d) | 1,390 | 1,520 | |
| 5% 5/15/28 (d) | 1,950 | 2,271 | |
| 5% 5/15/29 (d) | 2,550 | 2,960 | |
| 5% 5/15/30 (d) | 2,000 | 2,316 | |
| 5% 5/15/31 (d) | 2,540 | 2,942 | |
| 5% 5/15/41 (d) | 3,240 | 3,725 | |
| Series 2016 A: | |||
| 5% 5/15/29 (d) | 2,500 | 3,008 | |
| 5% 5/15/30 (d) | 2,530 | 3,043 | |
| 5% 5/15/31 (d) | 3,000 | 3,606 | |
| 5% 5/15/32 (d) | 3,710 | 4,458 | |
| 5% 5/15/33 (d) | 2,000 | 2,398 | |
| 5% 5/15/35 (d) | 2,020 | 2,421 | |
| 5% 5/15/42 (d) | 7,500 | 8,934 | |
| Series 2016 B: | |||
| 5% 5/15/22 (d) | 1,000 | 1,046 | |
| 5% 5/15/26 (d) | 1,600 | 1,935 | |
| 5% 5/15/27 (d) | 1,000 | 1,205 | |
| 5% 5/15/36 (d) | 3,600 | 4,307 | |
| 5% 5/15/41 (d) | 3,750 | 4,472 | |
| Series 2017 B: | |||
| 5% 5/15/23 (d) | 1,000 | 1,093 | |
| 5% 5/15/24 (d) | 1,905 | 2,163 | |
| 5% 5/15/25 (d) | 1,750 | 2,053 | |
| Series 2018 D, 5% 5/15/48 (d) | 2,000 | 2,454 | |
| Series 2018, 5% 5/15/43 (d) | 10,000 | 12,355 | |
| Series 2019 A, 5% 5/15/49 (d) | 4,950 | 6,066 | |
| Series 2019 D, 5% 5/15/49 (d) | 5,625 | 6,960 | |
| Series A: | |||
| 5% 5/15/30 (d) | 700 | 864 | |
| 5% 5/15/51 (d) | 12,270 | 15,595 | |
| Series B, 5% 5/15/48 | 6,200 | 8,053 | |
| Series F: | |||
| 4% 5/15/49 (d) | 5,000 | 5,729 | |
| 5% 5/15/30 (d) | 2,480 | 3,174 | |
| 5% 5/15/34 (d) | 950 | 1,197 | |
| 5% 5/15/44 (d) | 13,685 | 16,874 | |
| Los Angeles Dept. of Wtr. & Pwr. Rev.: | |||
| Series 2015 A: | |||
| 5% 7/1/28 | 3,400 | 3,951 | |
| 5% 7/1/30 | 6,000 | 6,958 | |
| Series 2016 B, 5% 7/1/42 | 4,595 | 5,447 | |
| Series B: | |||
| 5% 7/1/40 | 16,500 | 21,690 | |
| 5% 7/1/50 | 17,155 | 22,209 | |
| Los Angeles Dept. of Wtr. & Pwr. Wtrwks. Rev. Series 2020 A: | |||
| 5% 7/1/47 | 3,030 | 3,930 | |
| 5% 7/1/50 | 1,255 | 1,625 | |
| Los Angeles Hbr. Dept. Rev.: | |||
| Series 2016 A, 5% 8/1/24 (d) | 1,500 | 1,705 | |
| Series 2019 A, 5% 8/1/22 (d) | 150 | 158 | |
| Los Angeles Muni. Impt. Corp. Lease Rev.: | |||
| Series 2014 A: | |||
| 5% 5/1/24 (Escrowed to Maturity) | 325 | 370 | |
| 5% 5/1/25 (Pre-Refunded to 5/1/24 @ 100) | 540 | 615 | |
| 5% 5/1/29 (Pre-Refunded to 5/1/24 @ 100) | 500 | 569 | |
| 5% 5/1/30 (Pre-Refunded to 5/1/24 @ 100) | 1,000 | 1,138 | |
| 5% 5/1/31 (Pre-Refunded to 5/1/24 @ 100) | 1,555 | 1,770 | |
| Series 2014 B: | |||
| 5% 5/1/24 (Escrowed to Maturity) | 200 | 228 | |
| 5% 5/1/25 (Pre-Refunded to 5/1/24 @ 100) | 225 | 256 | |
| 5% 5/1/29 (Pre-Refunded to 5/1/24 @ 100) | 500 | 569 | |
| 5% 5/1/30 (Pre-Refunded to 5/1/24 @ 100) | 400 | 455 | |
| 5% 5/1/31 (Pre-Refunded to 5/1/24 @ 100) | 400 | 455 | |
| Series 2016 B, 5% 11/1/36 | 1,500 | 1,808 | |
| Los Angeles Unified School District Series C, 4% 7/1/44 | 5,000 | 5,977 | |
| Los Angeles Wastewtr. Sys. Rev. Series 2012 B, 5% 6/1/28 | 4,800 | 5,027 | |
| Manhattan Beach Unified School District Series 2020 B, 4% 9/1/45 | 3,500 | 4,201 | |
| Merced Union High School District Series A, 0% 8/1/22 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,100 | 1,096 | |
| Middle Fork Proj. Fin. Auth. Series 2020: | |||
| 5% 4/1/27 | 190 | 230 | |
| 5% 4/1/28 | 3,350 | 4,130 | |
| Modesto Elementary School District, Stanislaus County Series A: | |||
| 0% 8/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,000 | 1,999 | |
| 0% 8/1/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,800 | 2,700 | |
| Modesto Gen. Oblig. Ctfs. of Prtn.: | |||
| (Cmnty. Ctr. Refing. Proj.) Series A, 5% 11/1/23 (AMBAC Insured) | 935 | 944 | |
| (Golf Course Refing. Proj.) Series B, 5% 11/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 605 | 622 | |
| Modesto Irrigation District Fing. Auth. Series 2019 A, 5% 10/1/39 | 1,500 | 1,916 | |
| Monrovia Unified School District Series B, 0% 8/1/33 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,625 | 2,063 | |
| Montebello Pub. Fing. Auth. (Montebello Home2 Suites by Hilton Hotel Proj.) Series 2016 A: | |||
| 5% 6/1/30 | 1,640 | 1,790 | |
| 5% 6/1/31 | 500 | 545 | |
| 5% 6/1/32 | 500 | 546 | |
| 5% 6/1/33 | 1,800 | 1,963 | |
| 5% 6/1/34 | 1,345 | 1,466 | |
| 5% 6/1/35 | 1,895 | 2,065 | |
| 5% 6/1/36 | 2,000 | 2,177 | |
| 5% 6/1/41 | 6,155 | 6,682 | |
| Moreland School District Series 2003 B, 0% 8/1/27 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,485 | 1,371 | |
| Muroc Jt Unified School District Series 2016 B, 5.25% 8/1/47 | 4,375 | 5,478 | |
| Murrieta Pub. Fing. Auth. Spl. Tax Series 2012: | |||
| 5% 9/1/23 | 1,650 | 1,747 | |
| 5% 9/1/25 | 1,000 | 1,056 | |
| 5% 9/1/26 | 1,155 | 1,218 | |
| Murrieta Valley Unified School District: | |||
| Series 2008, 0% 9/1/32 (FSA Insured) | 5,000 | 4,137 | |
| Series 2015: | |||
| 4% 9/1/24 (FSA Insured) | 330 | 369 | |
| 5% 9/1/25 (FSA Insured) | 680 | 791 | |
| 5% 9/1/26 (FSA Insured) | 500 | 583 | |
| 5% 9/1/26 (FSA Insured) | 1,500 | 1,749 | |
| 5% 9/1/27 (FSA Insured) | 455 | 529 | |
| North City West School Facilities Fing. Auth. Spl. Tax Series 2005 B, 5.25% 9/1/23 (AMBAC Insured) | 1,530 | 1,695 | |
| Northern California Energy Auth. Bonds Series 2018, 4%, tender 7/1/24 (a) | 10,250 | 11,306 | |
| Northern California Pwr. Agcy. Rev. (Hydroelectric #1 Proj.) Series 1986 A, 7.5% 7/1/23 (Pre-Refunded to 7/1/21 @ 100) | 1,800 | 1,811 | |
| Northern California Transmission Agcy. Rev. Series 2016 A: | |||
| 5% 5/1/36 | 2,390 | 2,864 | |
| 5% 5/1/38 | 2,265 | 2,707 | |
| 5% 5/1/39 | 1,500 | 1,790 | |
| Norwalk-Mirada Unified School District Series 2009 D, 0% 8/1/33 (FSA Insured) | 5,755 | 4,600 | |
| Oakland Gen. Oblig. Series 2015 A: | |||
| 5% 1/15/28 | 1,225 | 1,449 | |
| 5% 1/15/29 | 1,650 | 1,949 | |
| 5% 1/15/30 | 1,665 | 1,964 | |
| 5% 1/15/31 | 1,520 | 1,791 | |
| Oakland Redev. Agcy. Sub Tax Allocation (Central District Redev. Proj.) Series 1993 A, 5% 9/1/21 (Escrowed to Maturity) | 150 | 152 | |
| Oakland Unified School District Alameda County Series 2015 A: | |||
| 5% 8/1/30 | 1,250 | 1,468 | |
| 5% 8/1/30 (FSA Insured) | 1,570 | 1,851 | |
| 5% 8/1/40 | 3,500 | 4,100 | |
| Oakland-Alameda County Coliseum Auth. (Oakland Coliseum Proj.) Series 2012 A: | |||
| 5% 2/1/22 | 2,935 | 3,018 | |
| 5% 2/1/23 | 5,000 | 5,139 | |
| Oceanside Unified School District Series A, 0% 8/1/31 (Assured Guaranty Corp. Insured) | 5,000 | 4,211 | |
| Ontario Int'l. Arpt. Auth.: | |||
| Series 2021 A, 5% 5/15/46 (FSA Insured) | 4,315 | 5,602 | |
| Series 2021 B: | |||
| 4% 5/15/35 (FSA Insured) (d) | 1,120 | 1,361 | |
| 4% 5/15/36 (FSA Insured) (d) | 775 | 939 | |
| 4% 5/15/37 (FSA Insured) (d) | 700 | 845 | |
| 4% 5/15/38 (FSA Insured) (d) | 800 | 964 | |
| 4% 5/15/39 (FSA Insured) (d) | 555 | 667 | |
| 4% 5/15/40 (FSA Insured) (d) | 685 | 821 | |
| Orange County San District Waste Series 2016 A: | |||
| 5% 2/1/35 | 5,490 | 6,552 | |
| 5% 2/1/36 | 6,630 | 7,902 | |
| Oxnard Union High School District Gen. Oblig. Series B, 5% 8/1/45 | 5,000 | 6,195 | |
| Palmdale Elementary School District Spl. Tax Series 2017 A, 5% 8/1/41 (FSA Insured) | 1,275 | 1,545 | |
| Palomar Cmnty. College District Series 2017, 5% 8/1/35 | 1,410 | 1,753 | |
| Palomar Health Rev.: | |||
| Series 2016, 5% 11/1/36 | 12,970 | 14,986 | |
| Series 2017, 5% 11/1/42 | 3,000 | 3,486 | |
| Palomar Pomerado Health Series 2004 A, 0% 8/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 4,870 | 4,591 | |
| Perris Union High School District Series A, 4% 9/1/48 (FSA Insured) | 11,000 | 12,888 | |
| Placer County Union High School District Series A, 0% 8/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,000 | 999 | |
| Pomona Calif Wtsw Rev. (Wtr. Facilities Proj.) Series 2017, 4% 5/1/37 | 4,335 | 4,981 | |
| Port of Oakland Rev.: | |||
| Series 2012 P: | |||
| 5% 5/1/22 (d) | 4,000 | 4,166 | |
| 5% 5/1/24 (Pre-Refunded to 5/1/22 @ 100) (d) | 3,070 | 3,206 | |
| Series 2017 D: | |||
| 5% 11/1/25 (d) | 5,135 | 6,072 | |
| 5% 11/1/26 (d) | 2,285 | 2,779 | |
| 5% 11/1/27 (d) | 4,000 | 4,986 | |
| 5% 11/1/28 (d) | 4,925 | 6,104 | |
| 5% 11/1/29 (d) | 4,200 | 5,192 | |
| Series 2021 H, 5% 5/1/28 (d) | 2,125 | 2,675 | |
| Poway California Redev. Agcy. Successor Series A: | |||
| 5% 6/15/27 | 2,385 | 2,984 | |
| 5% 6/15/28 | 2,190 | 2,609 | |
| 5% 12/15/28 | 2,200 | 2,615 | |
| 5% 12/15/29 | 4,825 | 5,721 | |
| 5% 12/15/30 | 3,500 | 4,694 | |
| Poway Unified School District: | |||
| (District #2007-1 School Facilities Proj.) Series 2008 A, 0% 8/1/32 | 13,070 | 10,739 | |
| Series 2011, 0% 8/1/46 | 10,150 | 5,051 | |
| Series B: | |||
| 0% 8/1/33 | 4,840 | 3,873 | |
| 0% 8/1/35 | 9,000 | 6,845 | |
| 0% 8/1/37 | 6,325 | 4,536 | |
| 0% 8/1/41 | 5,130 | 3,253 | |
| Poway Unified School District Pub. Fing.: | |||
| Series 2013, 5% 9/15/26 | 930 | 1,028 | |
| Series 2015 A: | |||
| 5% 9/1/30 | 1,495 | 1,734 | |
| 5% 9/1/31 | 1,260 | 1,458 | |
| 5% 9/1/32 | 1,795 | 2,070 | |
| 5% 9/1/33 | 2,740 | 3,152 | |
| 5% 9/1/34 | 1,225 | 1,408 | |
| 5% 9/1/35 | 1,580 | 1,813 | |
| 5% 9/1/36 | 3,395 | 3,883 | |
| Rancho Cucamonga Redev. Agcy. (Rancho Redev. Proj.) Series 2014: | |||
| 5% 9/1/25 (FSA Insured) | 1,775 | 2,026 | |
| 5% 9/1/26 (FSA Insured) | 1,350 | 1,538 | |
| 5% 9/1/27 (FSA Insured) | 1,700 | 1,933 | |
| 5% 9/1/28 (FSA Insured) | 1,700 | 1,929 | |
| 5% 9/1/29 (FSA Insured) | 1,850 | 2,095 | |
| Richmond Wastewtr. Rev. Series 2019 A: | |||
| 4% 8/1/49 | 4,000 | 4,639 | |
| 5% 8/1/39 | 390 | 496 | |
| 5% 8/1/44 | 2,135 | 2,680 | |
| Riverside County Trans. Commission Toll Rev. Series 2013 A: | |||
| 5.75% 6/1/44 | 2,500 | 2,720 | |
| 5.75% 6/1/48 | 5,000 | 5,440 | |
| Riverside Elec. Rev. Series 2019 A, 5% 10/1/43 | 3,840 | 4,856 | |
| Riverside Swr. Rev. Series 2015 A: | |||
| 5% 8/1/26 | 1,710 | 2,025 | |
| 5% 8/1/27 | 1,725 | 2,037 | |
| 5% 8/1/28 | 1,935 | 2,281 | |
| 5% 8/1/29 | 2,330 | 2,744 | |
| Rocklin Unified School District Series 2002: | |||
| 0% 8/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,610 | 2,580 | |
| 0% 8/1/24 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 6,370 | 6,230 | |
| 0% 8/1/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 6,725 | 6,482 | |
| 0% 8/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 5,365 | 5,084 | |
| 0% 8/1/27 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 6,500 | 6,038 | |
| Roseville City School District Series 2002 A: | |||
| 0% 8/1/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,745 | 1,679 | |
| 0% 8/1/27 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,940 | 1,797 | |
| Sacramento City Fing. Auth. Rev. Series A, 0% 12/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 6,000 | 5,645 | |
| Sacramento City Unified School District Series 2007, 0% 7/1/28 (FSA Insured) | 1,450 | 1,310 | |
| Sacramento County Arpt. Sys. Rev.: | |||
| Series 2016 B: | |||
| 5% 7/1/35 | 790 | 946 | |
| 5% 7/1/36 | 2,000 | 2,391 | |
| 5% 7/1/41 | 6,430 | 7,684 | |
| Series 2018 C: | |||
| 5% 7/1/34 (d) | 4,000 | 4,929 | |
| 5% 7/1/35 (d) | 5,000 | 6,153 | |
| 5% 7/1/36 (d) | 7,500 | 9,208 | |
| Series 2018 E: | |||
| 5% 7/1/33 | 1,315 | 1,640 | |
| 5% 7/1/34 | 1,000 | 1,245 | |
| 5% 7/1/35 | 1,000 | 1,243 | |
| Sacramento Muni. Util. District Elec. Rev.: | |||
| Series 2012 Y, 5% 8/15/27 | 2,800 | 2,963 | |
| Series 2013 A, 5% 8/15/41 | 2,810 | 3,083 | |
| Series 2016 D, 5% 8/15/28 | 2,500 | 3,234 | |
| Sacramento TOT Rev. Series A: | |||
| 5% 6/1/34 | 700 | 853 | |
| 5% 6/1/35 | 2,065 | 2,513 | |
| 5% 6/1/36 | 2,215 | 2,690 | |
| 5% 6/1/37 | 2,405 | 2,914 | |
| 5% 6/1/38 | 1,240 | 1,499 | |
| 5% 6/1/43 | 6,000 | 7,188 | |
| San Bernardino Cmnty. College District Series 2019 A, 4% 8/1/44 | 2,000 | 2,303 | |
| San Bernardino County Ctfs. of Prtn.: | |||
| (Cap. Facilities Proj.) Series B, 6.875% 8/1/24 (Escrowed to Maturity) | 6,860 | 7,622 | |
| (Med. Ctr. Fing. Proj.) Series 1994, 5.5% 8/1/22 (Escrowed to Maturity) | 10,000 | 10,341 | |
| San Bernardino Unified School District Gen. Oblig. Series 2013 A: | |||
| 5% 8/1/23 (Escrowed to Maturity) | 1,100 | 1,210 | |
| 5% 8/1/24 (Escrowed to Maturity) | 1,250 | 1,379 | |
| San Diego Assoc. of Governments (Mid-Coast Corridor Transit Proj.) Series 2019 A, 1.8% 11/15/27 | 7,505 | 7,894 | |
| San Diego California Assn. Govts. South Bay (South Bay Expressway Proj.) Series 2017 A: | |||
| 5% 7/1/29 | 1,660 | 2,044 | |
| 5% 7/1/31 | 2,000 | 2,450 | |
| 5% 7/1/33 | 1,735 | 2,122 | |
| 5% 7/1/34 | 1,380 | 1,685 | |
| 5% 7/1/35 | 1,500 | 1,829 | |
| 5% 7/1/36 | 1,980 | 2,410 | |
| 5% 7/1/38 | 2,000 | 2,425 | |
| 5% 7/1/42 | 5,000 | 6,022 | |
| San Diego County Reg'l. Arpt. Auth. Arpt. Rev.: | |||
| (Sub Lien Proj.): | |||
| Series 2017 B: | |||
| 5% 7/1/24 (d) | 1,000 | 1,139 | |
| 5% 7/1/25 (d) | 515 | 606 | |
| 5% 7/1/27 (d) | 500 | 619 | |
| 5% 7/1/28 (d) | 1,000 | 1,237 | |
| 5% 7/1/29 (d) | 1,725 | 2,127 | |
| 5% 7/1/30 (d) | 2,915 | 3,583 | |
| 5% 7/1/31 (d) | 1,250 | 1,531 | |
| 5% 7/1/32 (d) | 1,300 | 1,594 | |
| 5% 7/1/33 (d) | 1,330 | 1,627 | |
| 5% 7/1/34 (d) | 1,000 | 1,221 | |
| 5% 7/1/36 (d) | 1,500 | 1,825 | |
| 5% 7/1/37 (d) | 750 | 910 | |
| 5% 7/1/47 (d) | 5,250 | 6,341 | |
| Series A, 5% 7/1/26 (d) | 690 | 833 | |
| Series 2000 B, 5% 7/1/22 | 4,000 | 4,210 | |
| Series 2013 B, 5% 7/1/38 (d) | 7,000 | 7,614 | |
| Series 2017A, 5% 7/1/42 | 5,810 | 7,111 | |
| Series 2019 B: | |||
| 5% 7/1/28 (d) | 820 | 1,035 | |
| 5% 7/1/49 (d) | 3,250 | 3,982 | |
| Series 2020 B: | |||
| 5% 7/1/29 | 2,720 | 3,551 | |
| 5% 7/1/30 | 2,550 | 3,390 | |
| Series 2020 C, 5% 7/1/23 (d) | 585 | 641 | |
| San Diego Pub. Facilities Fing. Auth. Lease Rev.: | |||
| (Cap. Impt. Proj.) Series 2012 A, 5% 4/15/23 | 1,710 | 1,783 | |
| Series 2015 A, 5% 10/15/44 | 4,005 | 4,664 | |
| Series 2016: | |||
| 5% 10/15/29 | 2,000 | 2,361 | |
| 5% 10/15/30 | 1,000 | 1,179 | |
| 5% 10/15/31 | 650 | 765 | |
| San Diego Unified School District: | |||
| (Convention Ctr. Proj.) Series 2012, 0% 7/1/45 | 4,770 | 2,755 | |
| Series 2008 C, 0% 7/1/37 | 1,300 | 955 | |
| Series 2008 E, 0% 7/1/47 (e) | 8,700 | 8,437 | |
| Series A, 4% 7/1/50 | 5,000 | 5,975 | |
| San Francisco Bay Area Rapid Transit District Sales Tax Rev. Series 2019 A: | |||
| 4% 7/1/38 | 3,040 | 3,544 | |
| 4% 7/1/39 | 2,075 | 2,415 | |
| San Francisco City & County Arpts. Commission Int'l. Arpt. Rev.: | |||
| Series 2014 A, 5% 5/1/40 (d) | 1,865 | 2,085 | |
| Series 2016 A: | |||
| 5% 5/1/28 | 2,280 | 2,751 | |
| 5% 5/1/29 | 1,225 | 1,471 | |
| 5% 5/1/30 | 330 | 395 | |
| 5% 5/1/32 | 1,000 | 1,195 | |
| Series 2016 B: | |||
| 5% 5/1/41 (d) | 9,695 | 11,548 | |
| 5% 5/1/46 (d) | 23,000 | 27,301 | |
| Series 2017 A, 5% 5/1/42 (d) | 3,205 | 3,903 | |
| Series 2017 D, 5% 5/1/25 (d) | 2,250 | 2,636 | |
| Series 2019 A: | |||
| 5% 5/1/36 (d) | 10,000 | 12,552 | |
| 5% 5/1/37 (d) | 5,595 | 7,004 | |
| 5% 1/1/47 (d) | 6,005 | 7,326 | |
| 5% 5/1/49 (d) | 12,645 | 15,505 | |
| Series 2019 B, 5% 5/1/49 | 5,000 | 6,218 | |
| Series 2019 E, 5% 5/1/50 (d) | 7,000 | 8,574 | |
| Series A, 5% 5/1/44 (d) | 14,620 | 16,348 | |
| San Francisco City & County Redev. Spl. Tax (Mission Bay South Pub. Impt. Proj.) Series 2013 A: | |||
| 5% 8/1/23 | 1,000 | 1,055 | |
| 5% 8/1/24 | 750 | 790 | |
| San Jacinto Unified School District Series 2014: | |||
| 5% 8/1/25 (FSA Insured) | 875 | 1,000 | |
| 5% 8/1/26 (FSA Insured) | 1,055 | 1,203 | |
| 5% 8/1/27 (FSA Insured) | 1,250 | 1,422 | |
| 5% 8/1/28 (FSA Insured) | 1,250 | 1,422 | |
| 5% 8/1/29 (FSA Insured) | 3,150 | 3,582 | |
| 5% 8/1/30 (FSA Insured) | 4,070 | 4,629 | |
| 5% 8/1/31 (FSA Insured) | 650 | 739 | |
| San Joaquin Hills Trans. Corridor Agcy. Toll Road Rev. Series 1993, 0% 1/1/27 (Escrowed to Maturity) | 4,000 | 3,796 | |
| San Jose Int. Arpt. Rev.: | |||
| Series 2017 A: | |||
| 5% 3/1/27 (d) | 2,480 | 3,046 | |
| 5% 3/1/29 (d) | 735 | 905 | |
| 5% 3/1/31 (d) | 1,100 | 1,336 | |
| 5% 3/1/32 (d) | 850 | 1,033 | |
| 5% 3/1/33 (d) | 1,095 | 1,327 | |
| 5% 3/1/34 (d) | 1,250 | 1,512 | |
| 5% 3/1/35 (d) | 3,475 | 4,198 | |
| 5% 3/1/36 (d) | 2,250 | 2,713 | |
| 5% 3/1/37 (d) | 2,250 | 2,708 | |
| 5% 3/1/41 (d) | 10,235 | 12,302 | |
| Series 2017 B: | |||
| 5% 3/1/29 | 200 | 246 | |
| 5% 3/1/30 | 250 | 307 | |
| 5% 3/1/32 | 235 | 287 | |
| 5% 3/1/33 | 250 | 305 | |
| 5% 3/1/34 | 500 | 608 | |
| 5% 3/1/37 | 3,000 | 3,644 | |
| Series 2021 A: | |||
| 4% 3/1/34 (d) | 2,000 | 2,431 | |
| 5% 3/1/24 (d) | 1,000 | 1,125 | |
| 5% 3/1/25 (d) | 500 | 582 | |
| 5% 3/1/26 (d) | 1,550 | 1,853 | |
| 5% 3/1/27 (d) | 750 | 921 | |
| 5% 3/1/28 (d) | 1,270 | 1,592 | |
| 5% 3/1/29 (d) | 1,000 | 1,279 | |
| 5% 3/1/30 (d) | 1,275 | 1,656 | |
| 5% 3/1/31 (d) | 1,600 | 2,113 | |
| 5% 3/1/32 (d) | 2,000 | 2,632 | |
| 5% 3/1/33 (d) | 1,500 | 1,968 | |
| San Marcos Redev. Agcy. Successor Series 2015 A: | |||
| 5% 10/1/27 | 1,650 | 1,954 | |
| 5% 10/1/29 | 675 | 796 | |
| 5% 10/1/30 | 2,000 | 2,350 | |
| 5% 10/1/31 | 2,310 | 2,713 | |
| San Marcos Unified School District Series 2010 B: | |||
| 0% 8/1/35 | 3,675 | 2,779 | |
| 0% 8/1/37 | 1,900 | 1,354 | |
| 0% 8/1/47 | 9,000 | 4,673 | |
| San Mateo County Cmnty. College District Series 2019: | |||
| 5% 9/1/36 | 1,000 | 1,302 | |
| 5% 9/1/37 | 1,000 | 1,297 | |
| 5% 9/1/38 | 760 | 983 | |
| 5% 9/1/39 | 1,000 | 1,291 | |
| 5% 9/1/40 | 1,100 | 1,417 | |
| San Mateo County Joint Powers Fing. Auth. Series 2019 A: | |||
| 5% 7/15/24 | 4,000 | 4,592 | |
| 5% 7/15/26 | 4,000 | 4,907 | |
| San Mateo Foster City (Clean Wtr. Prog.) Series 2019, 5% 8/1/49 | 8,000 | 10,242 | |
| San Mateo Unified School District (Election of 2000 Proj.) Series B: | |||
| 0% 9/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,000 | 1,986 | |
| 0% 9/1/25 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,490 | 1,447 | |
| 0% 9/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,500 | 1,435 | |
| San Pablo Redev. Agcy. Series 2014 A: | |||
| 5% 6/15/25 (FSA Insured) | 825 | 933 | |
| 5% 6/15/26 (FSA Insured) | 860 | 970 | |
| 5% 6/15/27 (FSA Insured) | 1,770 | 1,989 | |
| 5% 6/15/28 (FSA Insured) | 1,865 | 2,089 | |
| 5% 6/15/29 (FSA Insured) | 1,780 | 1,992 | |
| 5% 6/15/30 (FSA Insured) | 1,150 | 1,287 | |
| 5% 6/15/31 (FSA Insured) | 1,000 | 1,119 | |
| Sanger Unified School District Series 1999, 5.6% 8/1/23 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 220 | 231 | |
| Santa Barbara Fing. Auth. (Arpt. Proj.) Series 2019: | |||
| 5% 4/1/30 | 1,000 | 1,298 | |
| 5% 4/1/32 | 1,365 | 1,756 | |
| 5% 4/1/34 | 1,000 | 1,279 | |
| 5% 4/1/36 | 2,135 | 2,720 | |
| 5% 4/1/37 | 1,000 | 1,271 | |
| 5% 4/1/38 | 845 | 1,071 | |
| Santa Clara Elec. Rev. Series 2011 A, 6% 7/1/31 (Pre-Refunded to 7/1/21 @ 100) | 3,000 | 3,014 | |
| Santa Monica Pub. Fin. Rev.: | |||
| (City Svcs. Bldg. Proj.) Series 2017: | |||
| 4% 7/1/39 | 790 | 916 | |
| 5% 7/1/36 | 2,380 | 2,966 | |
| 5% 7/1/37 | 1,780 | 2,214 | |
| (Downtown Fire Station Proj.) Series 2018, 5% 7/1/42 | 1,250 | 1,547 | |
| Santa Monica-Malibu Unified School District Series 2017 C: | |||
| 4% 7/1/36 | 435 | 516 | |
| 4% 7/1/37 | 475 | 562 | |
| 4% 7/1/38 | 450 | 531 | |
| 4% 7/1/39 | 550 | 648 | |
| 5% 7/1/30 | 250 | 315 | |
| 5% 7/1/31 | 350 | 440 | |
| 5% 7/1/32 | 255 | 320 | |
| 5% 7/1/33 | 250 | 313 | |
| 5% 7/1/34 | 315 | 394 | |
| 5% 7/1/35 | 400 | 500 | |
| Santa Rosa Wastewtr. Rev. Series 2002 B: | |||
| 0% 9/1/22 (AMBAC Insured) | 2,900 | 2,889 | |
| 0% 9/1/25 (AMBAC Insured) | 6,800 | 6,549 | |
| Shasta Union High School District: | |||
| Series 2002, 0% 8/1/26 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,000 | 948 | |
| Series 2003, 0% 5/1/28 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 3,340 | 3,047 | |
| South Bayside Waste Mgmt. Auth.: | |||
| Series 2019 A: | |||
| 5% 9/1/42 (FSA Insured) | 1,255 | 1,561 | |
| 5% 9/1/42 (Pre-Refunded to 9/1/29 @ 100) | 45 | 59 | |
| Series 2019 B: | |||
| 5% 9/1/21 (d) | 1,205 | 1,219 | |
| 5% 9/1/21 (Escrowed to Maturity) (d) | 40 | 40 | |
| 5% 9/1/24 (d) | 425 | 487 | |
| 5% 9/1/24 (Escrowed to Maturity) (d) | 15 | 17 | |
| South Orange County Pub. Fin. Auth. Series 2016: | |||
| 5% 4/1/34 | 2,000 | 2,376 | |
| 5% 4/1/36 | 3,000 | 3,548 | |
| South Orange County Pub. Fing. Auth. Spl. Tax Rev. Series 2014 A: | |||
| 5% 8/15/23 | 1,000 | 1,035 | |
| 5% 8/15/26 | 1,975 | 2,042 | |
| 5% 8/15/27 | 700 | 724 | |
| 5% 8/15/28 | 1,000 | 1,034 | |
| South San Francisco Pub. Fing. Auth. (Cmnty. Civic Campus And Multiple Cap. Projs.) Series 2021 A, 4% 6/1/46 (b) | 5,000 | 6,001 | |
| Southern California Pub. Pwr. Auth. Rev. Bonds Series 2020 C, 0.65%, tender 7/1/25 (a) | 10,000 | 9,972 | |
| Southwestern Cmnty. College District Gen. Oblig.: | |||
| Series 2000, 0% 8/1/27 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,495 | 2,340 | |
| Series 2004, 0% 8/1/28 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,500 | 2,291 | |
| Stockton Pub. Fing. Auth. Wtr. Rev. Series 2018 A: | |||
| 4% 10/1/37 | 2,000 | 2,311 | |
| 5% 10/1/35 | 1,000 | 1,260 | |
| 5% 10/1/36 | 1,585 | 1,992 | |
| Stockton Unified School District Gen. Oblig.: | |||
| Series 2012 A: | |||
| 5% 8/1/24 (FSA Insured) | 300 | 341 | |
| 5% 8/1/25 (FSA Insured) | 750 | 858 | |
| 5% 8/1/27 (FSA Insured) | 265 | 302 | |
| 5% 8/1/28 (FSA Insured) | 510 | 581 | |
| 5% 8/1/38 (FSA Insured) | 2,500 | 2,830 | |
| 5% 8/1/42 (FSA Insured) | 4,650 | 5,265 | |
| Series 2012: | |||
| 5% 7/1/23 (FSA Insured) | 1,270 | 1,335 | |
| 5% 7/1/24 (FSA Insured) | 1,350 | 1,419 | |
| 5% 7/1/25 (FSA Insured) | 1,060 | 1,113 | |
| 5% 7/1/26 (FSA Insured) | 1,110 | 1,166 | |
| 5% 7/1/27 (FSA Insured) | 1,065 | 1,119 | |
| 5% 1/1/29 (FSA Insured) | 600 | 630 | |
| Successor Agcy. to the Redev. Agcy. of Pittsburg (Los Medanos Cmnty. Dev. Proj.) Series 2016 A: | |||
| 5% 9/1/24 (FSA Insured) | 2,440 | 2,791 | |
| 5% 9/1/25 (FSA Insured) | 3,500 | 4,137 | |
| 5% 9/1/26 (FSA Insured) | 3,000 | 3,651 | |
| 5% 9/1/27 (FSA Insured) | 4,030 | 4,900 | |
| 5% 9/1/28 (FSA Insured) | 3,500 | 4,252 | |
| 5% 9/1/29 (FSA Insured) | 2,000 | 2,427 | |
| Tobacco Securitization Auth. Southern California Tobacco Settlement Series 2019 A1: | |||
| 5% 6/1/24 | 1,000 | 1,142 | |
| 5% 6/1/26 | 1,000 | 1,221 | |
| Tulare Swr. Rev. Series 2015: | |||
| 5% 11/15/24 (FSA Insured) | 820 | 943 | |
| 5% 11/15/25 (FSA Insured) | 800 | 949 | |
| 5% 11/15/26 (FSA Insured) | 965 | 1,153 | |
| 5% 11/15/27 (FSA Insured) | 1,500 | 1,786 | |
| 5% 11/15/28 (FSA Insured) | 1,165 | 1,384 | |
| Turlock Irrigation District Rev. Series 2020: | |||
| 5% 1/1/31 | 6,375 | 8,432 | |
| 5% 1/1/32 | 6,695 | 8,831 | |
| 5% 1/1/41 | 4,000 | 5,160 | |
| Union Elementary School District Series A, 0% 9/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,995 | 2,994 | |
| Univ. of California Regents Med. Ctr. Pool Rev. Series 2013 J, 5% 5/15/48 | 7,300 | 7,883 | |
| Univ. of California Revs.: | |||
| Series 2017 AV, 5% 5/15/34 | 2,000 | 2,485 | |
| Series 2019 BB, 5% 5/15/49 | 2,000 | 2,527 | |
| Series 2020 BE, 4% 5/15/50 | 6,855 | 8,119 | |
| Series 2021, 5% 5/15/46 | 5,000 | 6,540 | |
| Upland Gen. Oblig. Ctfs. of Prtn. (San Antonio Cmnty. Hosp.,CA. Proj.) Series 2017: | |||
| 4% 1/1/35 | 1,000 | 1,095 | |
| 4% 1/1/36 | 1,000 | 1,093 | |
| 5% 1/1/30 | 1,335 | 1,589 | |
| 5% 1/1/31 | 1,350 | 1,600 | |
| 5% 1/1/32 | 1,400 | 1,655 | |
| 5% 1/1/33 | 2,835 | 3,343 | |
| 5% 1/1/34 | 2,230 | 2,623 | |
| Vacaville Unified School District Series 2014 C: | |||
| 5% 8/1/23 (Build America Mutual Assurance Insured) | 930 | 1,028 | |
| 5% 8/1/26 (Build America Mutual Assurance Insured) | 1,295 | 1,483 | |
| Walnut Valley Unified School District Series D: | |||
| 0% 8/1/30 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,875 | 2,475 | |
| 0% 8/1/31 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,900 | 2,435 | |
| 0% 8/1/32 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 1,315 | 1,077 | |
| Washington Township Health Care District Gen. Oblig. Series 2013 B: | |||
| 5% 8/1/43 | 5,000 | 5,564 | |
| 5.5% 8/1/38 | 1,500 | 1,692 | |
| 5.5% 8/1/40 | 5,000 | 5,642 | |
| Washington Township Health Care District Rev.: | |||
| Series 2017 B: | |||
| 5% 7/1/30 | 2,500 | 2,977 | |
| 5% 7/1/32 | 1,350 | 1,589 | |
| 5% 7/1/33 | 1,000 | 1,174 | |
| Series 2019 A: | |||
| 5% 7/1/30 | 1,000 | 1,241 | |
| 5% 7/1/31 | 875 | 1,079 | |
| 5% 7/1/32 | 890 | 1,088 | |
| 5% 7/1/36 | 750 | 899 | |
| Series A: | |||
| 4% 7/1/33 | 260 | 299 | |
| 4% 7/1/35 | 300 | 342 | |
| 5% 7/1/30 | 300 | 379 | |
| 5% 7/1/31 | 325 | 408 | |
| West Contra Costa Unified School District: | |||
| Series 2012 D, 0% 8/1/33 (FSA Insured) | 1,675 | 1,326 | |
| Series 2014 A: | |||
| 5% 8/1/23 | 365 | 401 | |
| 5% 8/1/25 | 2,555 | 2,919 | |
| 5% 8/1/26 | 2,550 | 2,910 | |
| 5% 8/1/27 | 1,150 | 1,309 | |
| 5% 8/1/28 | 1,000 | 1,138 | |
| 5% 8/1/29 | 1,675 | 1,907 | |
| Western Riverside County Trust & Wastewtr. Fin. Auth. Series 2009: | |||
| 5.5% 9/1/34 (Assured Guaranty Corp. Insured) | 1,750 | 1,757 | |
| 5.625% 9/1/39 (Assured Guaranty Corp. Insured) | 2,250 | 2,258 | |
| Yuba City Unified School District Series A, 0% 9/1/21 (Nat'l. Pub. Fin. Guarantee Corp. Insured) | 2,090 | 2,088 | |
| TOTAL CALIFORNIA | 2,227,870 | ||
| Guam - 0.1% | |||
| Guam Int'l. Arpt. Auth. Rev.: | |||
| Series 2013 C, 6.375% 10/1/43 (d) | 480 | 519 | |
| Series C, 5% 10/1/21 (Escrowed to Maturity) (d) | 390 | 396 | |
| TOTAL GUAM | 915 | ||
| TOTAL MUNICIPAL BONDS | |||
| (Cost $2,047,841) | 2,228,785 | ||
| Municipal Notes - 3.5% | |||
| California - 3.5% | |||
| California Gen. Oblig. Series 2005 B5, 0.01% 6/1/21, LOC MUFG Union Bank NA, VRDN (a) | 5,000 | $5,000 | |
| California Muni. Fin. Auth. Student Hsg. Participating VRDN Series 2021 XL 01 73, 0.15% 6/4/21 (Liquidity Facility JPMorgan Chase Bank) (a)(f)(g) | 3,700 | 3,700 | |
| California Pub. Fin. Auth. Rev. Series 2017 C, 0.01% 6/1/21, LOC Barclays Bank PLC, VRDN (a) | 2,500 | 2,500 | |
| California Statewide Cmntys. Dev. Auth. Rev. Participating VRDN Series 2017, 0.12% 6/4/21 (Liquidity Facility Deutsche Bank AG New York Branch) (a)(f)(g) | 3,850 | 3,850 | |
| Contra Costa County Schools TRAN Series A, 2% 12/1/21 | 3,400 | 3,427 | |
| Eastern California Muni. Wtr. District Wtr. and Wasterwater Series 2018 A, 0.01% 6/1/21 (Liquidity Facility Bank of America NA), VRDN (a) | 2,345 | 2,345 | |
| Irvine Impt. Bond Act of 1915 (Assessment District #97-17 Proj.) Series 1998, 0.01% 6/1/21, LOC State Street Bank & Trust Co., Boston, VRDN (a) | 4,100 | 4,100 | |
| Los Angeles Dept. of Wtr. & Pwr. Rev.: | |||
| Series 2002 A7, 0.01% 6/1/21 (Liquidity Facility Bank of America NA), VRDN (a) | 7,400 | 7,400 | |
| Series 2021 A1, 0.01% 6/1/21 (Liquidity Facility Royal Bank of Canada), VRDN (a) | 9,350 | 9,350 | |
| Series A3, 0.01% 6/1/21 (Liquidity Facility Royal Bank of Canada), VRDN (a) | 6,000 | 6,000 | |
| Los Angeles Dept. of Wtr. & Pwr. Wtrwks. Rev.: | |||
| Series 2001 B4, 0.01% 6/1/21 (Liquidity Facility Citibank NA), VRDN (a) | 2,300 | 2,300 | |
| Series 2019 A1, 0.01% 6/1/21 (Liquidity Facility Toronto-Dominion Bank), VRDN (a) | 12,460 | 12,460 | |
| Los Angeles Multi-family Hsg. Rev. Series 1994 A, 0.02% 6/1/21, LOC JPMorgan Chase Bank, VRDN (a)(d) | 1,311 | 1,311 | |
| River Islands Pub. Fing. Auth. Participating VRDN Series MIZ 90 26, 0.35% 7/2/21 (Liquidity Facility Mizuho Cap. Markets Llc) (a)(f)(g)(h) | 9,945 | 9,945 | |
| Sacramento County Hsg. Auth. Multi-family Hsg. Rev. Participating VRDN Series MIZ 90 58, 0.35% 7/2/21 (Liquidity Facility Mizuho Cap. Markets Llc) (a)(f)(g) | 1,425 | 1,425 | |
| Southern California Pub. Pwr. Auth. Rev. Series 2020 3, 0.01% 6/1/21, LOC U.S. Bank NA, Cincinnati, VRDN (a) | 6,500 | 6,500 | |
| TOTAL MUNICIPAL NOTES | |||
| (Cost $81,614) | 81,613 | ||
| TOTAL INVESTMENT IN SECURITIES - 100.3% | |||
| (Cost $2,129,455) | 2,310,398 | ||
| NET OTHER ASSETS (LIABILITIES) - (0.3)% | (6,597) | ||
| NET ASSETS - 100% | $2,303,801 |
Security Type Abbreviations
VRDN – VARIABLE RATE DEMAND NOTE (A debt instrument that is payable upon demand, either daily, weekly or monthly)
Legend
(a) Coupon rates for floating and adjustable rate securities reflect the rates in effect at period end.
(b) Security or a portion of the security purchased on a delayed delivery or when-issued basis.
(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $12,729,000 or 0.6% of net assets.
(d) Private activity obligations whose interest is subject to the federal alternative minimum tax for individuals.
(e) Security initially issued in zero coupon form which converts to coupon form at a specified rate and date. The rate shown is the rate at period end.
(f) Provides evidence of ownership in one or more underlying municipal bonds.
(g) Coupon rates are determined by re-marketing agents based on current market conditions.
(h) Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues). At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $9,945,000 or 0.4% of net assets.
Additional information on each restricted holding is as follows:
| Security | Acquisition Date | Acquisition Cost (000s) |
| River Islands Pub. Fing. Auth. Participating VRDN Series MIZ 90 26, 0.35% 7/2/21 (Liquidity Facility Mizuho Cap. Markets Llc) | 8/14/20 - 12/1/20 | $9,945 |
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund’s valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. Municipal securities are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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