UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-04474
Name of Registrant: Vanguard California Tax-Free Funds
| Address of Registrant: | P.O. Box 2600 |
| Valley Forge, PA 19482 |
| Name and address of agent for service: | Heidi Stam, Esquire |
| P.O. Box 876 | |
| Valley Forge, PA 19482 |
Registrant’s telephone number, including area code: (610) 669-1000
Date of fiscal year end: November 30
Date of reporting period: December 1, 2015 – May 31, 2016
Item 1: Reports to Shareholders
Semiannual Report | May 31, 2016
Vanguard California Tax-Exempt Funds
Vanguard California Tax-Exempt Money Market Fund
Vanguard California Intermediate-Term Tax-Exempt Fund
Vanguard California Long-Term Tax-Exempt Fund
Vanguard’s Principles for Investing Success
We want to give you the best chance of investment success. These principles, grounded in Vanguard’s research and experience, can put you on the right path.
Goals. Create clear, appropriate investment goals.
Balance. Develop a suitable asset allocation using broadly diversified funds. Cost. Minimize cost.
Discipline. Maintain perspective and long-term discipline.
A single theme unites these principles: Focus on the things you can control.
We believe there is no wiser course for any investor.
| Contents | |
| Your Fund’s Total Returns. | 1 |
| Chairman’s Letter. | 2 |
| Advisor’s Report. | 9 |
| California Tax-Exempt Money Market Fund. | 13 |
| California Intermediate-Term Tax-Exempt Fund. | 32 |
| California Long-Term Tax-Exempt Fund. | 134 |
| About Your Fund’s Expenses. | 172 |
| Trustees Approve Advisory Arrangements. | 174 |
| Glossary. | 175 |
Please note: The opinions expressed in this report are just that—informed opinions. They should not be considered promises or advice. Also, please keep in mind that the information and opinions cover the period through the date on the front of this report. Of course, the risks of investing in your fund are spelled out in the prospectus.
See the Glossary for definitions of investment terms used in this report.
About the cover: Pictured is a sailing block on the Brilliant, a 1932 schooner docked in Mystic, Connecticut. A type of pulley, the sailing block helps coordinate the setting of the sails. At Vanguard, the intricate coordination of technology and people allows us to help millions of clients around the world reach their financial goals.
Your Fund’s Total Returns
| Six Months Ended May 31, 2016 | |||||
| Taxable- | |||||
| SEC | Equivalent | Income | Capital | Total | |
| Yield | Yield | Returns | Returns | Returns | |
| Vanguard California Tax-Exempt Money Market Fund | 0.25% | 0.51% | 0.04% | 0.00% | 0.04% |
| California Tax-Exempt Money Market Funds Average | 0.02 | ||||
| California Tax-Exempt Money Market Funds Average: Derived from data provided by Lipper, a Thomson Reuters Company. | |||||
| Vanguard California Intermediate-Term Tax-Exempt Fund | |||||
| Investor Shares | 1.25% | 2.55% | 1.34% | 1.78% | 3.12% |
| Admiral™ Shares | 1.33 | 2.71 | 1.38 | 1.78 | 3.16 |
| Barclays Municipal California Intermediate Bond Index | 2.53 | ||||
| California Intermediate Municipal Debt Funds Average | 2.55 | ||||
| California Intermediate Municipal Debt Funds Average: Derived from data provided by Lipper, a Thomson Reuters Company. | |||||
| Vanguard California Long-Term Tax-Exempt Fund | |||||
| Investor Shares | 1.65% | 3.36% | 1.74% | 2.56% | 4.30% |
| Admiral Shares | 1.73 | 3.53 | 1.78 | 2.56 | 4.34 |
| Barclays CA Municipal Bond Index | 3.44 | ||||
| California Municipal Debt Funds Average | 4.14 | ||||
California Municipal Debt Funds Average: Derived from data provided by Lipper, a Thomson Reuters Company.
7-day SEC yield for the California Tax-Exempt Money Market Fund; 30-day SEC yield for the California Intermediate-Term Tax-Exempt Fund and California Long-Term Tax-Exempt Fund.
The calculation of taxable-equivalent yield assumes a typical itemized tax return and is based on the maximum federal tax rate of 43.4% and the maximum income tax rate for the state. Local taxes were not considered. Please see the prospectus for a detailed explanation of the calculation.
Admiral Shares carry lower expenses and are available to investors who meet certain account-balance requirements.
Chairman’s Letter
Dear Shareholder,
The broad U.S. municipal bond market advanced in each of the six months ended May 31, 2016, to return more than 3% for the period. California’s tax-exempt bond market returned about the same.
In this favorable environment, Vanguard California Intermediate-Term Tax-Exempt Fund returned more than 3% and Vanguard California Long-Term Tax-Exempt Fund returned more than 4%. Price appreciation accounted for more than half of each fund’s result. Both funds outperformed their benchmark indexes and the average return of their peers.
As bond prices and yields move in opposite directions, the 30-day SEC yield for Investor Shares of the Intermediate-Term Fund dropped from 1.57% at the end of November to 1.25% at the end of May. Longer-term yields fell even more, from 2.13% to 1.65% for Investor Shares of the Long-Term Fund, adding more heft to its price gains.
At the other end of the maturity spectrum, short-term municipal yields rose—but with a lag—after the Federal Reserve raised its interest rate target in December. Vanguard California Tax-Exempt Money Market Fund’s month-end yield remained at 0.01% from November through February before rising by the end of the period to 0.25%—a level not seen since 2009. The fund’s six-month return inched up to 0.04%; its peer average was 0.02%.
2
Please note that the funds are permitted to invest in securities whose income is subject to the alternative minimum tax (AMT). As of May 31, neither the Intermediate-Term Fund nor the Long-Term Fund owned securities that would generate income distributions subject to the AMT, but the Money Market Fund did.
Before moving on to the markets, here’s a brief update on money market reforms. As we’ve mentioned before, the Securities and Exchange Commission adopted core reforms that will take effect in October. Their impact on your fund will be minimal. Vanguard plans to designate all of our
tax-exempt money market funds, including California’s, as retail funds, and they will continue to seek to maintain a stable share price of $1.
Bonds enjoyed a strong ride after some early weakness
The broad U.S. taxable bond market returned about 3% for the half year, behind the broad tax-exempt market. After dipping in December, taxable bonds climbed. The yield of the 10-year U.S. Treasury note closed at 1.85% at the end of May, down from 2.22% six months earlier.
| Market Barometer | |||
| Total Returns | |||
| Periods Ended May 31, 2016 | |||
| Six | One | Five Years | |
| Months | Year | (Annualized) | |
| Bonds | |||
| Barclays U.S. Aggregate Bond Index (Broad taxable | |||
| market) | 3.12% | 2.99% | 3.33% |
| Barclays Municipal Bond Index (Broad tax-exempt market) | 3.42 | 5.87 | 5.07 |
| Citigroup Three-Month U.S. Treasury Bill Index | 0.10 | 0.12 | 0.05 |
| Stocks | |||
| Russell 1000 Index (Large-caps) | 1.64% | 0.78% | 11.44% |
| Russell 2000 Index (Small-caps) | -2.86 | -5.97 | 7.86 |
| Russell 3000 Index (Broad U.S. market) | 1.29 | 0.22 | 11.15 |
| FTSE All-World ex US Index (International) | -1.14 | -10.87 | 0.52 |
| CPI | |||
| Consumer Price Index | 1.22% | 1.02% | 1.23% |
3
The period began with the Fed’s long-anticipated but small increase in short-term interest rates. Through the succeeding months, mixed signals from Fed officials—as well as from global economic data—created uncertainty about when the next increase might occur.
Money market funds and savings accounts produced limited returns as the Fed’s target rate of 0.25%–0.5% remained historically low, despite December’s quarter-percentage-point rise.
International bond markets (as measured by the Barclays Global Aggregate Index ex USD) returned more than 9%. In a reversal from the trend of recent years, many foreign currencies strengthened against the dollar, boosting international bond returns for U.S. investors. Even without this currency benefit, international bond returns were solidly positive.
In a tale of two halves, stocks fell and then rose
U.S. stocks advanced about 1% for the six months. Equities retreated over the first three months before rebounding, partly as a sharp recovery in oil prices seemed to alleviate fears of a global economic slowdown.
| Expense Ratios | |||
| Your Fund Compared With Its Peer Group | |||
| Investor | Admiral | Peer Group | |
| Shares | Shares | Average | |
| California Tax-Exempt Money Market Fund | 0.16% | — | 0.07% |
| California Intermediate-Term Tax-Exempt | |||
| Fund | 0.20 | 0.12% | 0.75 |
| California Long-Term Tax-Exempt Fund | 0.20 | 0.12 | 0.94 |
The fund expense ratios shown are from the prospectus dated March 29, 2016, and represent estimated costs for the current fiscal year. For the six months ended May 31, 2016, the funds’ annualized expense ratios were: for the California Tax-Exempt Money Market Fund, 0.10%; for the California Intermediate-Term Tax-Exempt Fund, 0.20% for Investor Shares and 0.12% for Admiral Shares; and for the California Long-Term Tax-Exempt Fund, 0.20% for Investor Shares and 0.12% for Admiral Shares. The six-month expense ratio for the California Tax-Exempt Money Market Fund reflects a temporary reduction in operating expenses (described in Note B of the Notes to Financial Statements). Before this reduction, the fund’s annualized six-month expense ratio was 0.16%. Peer-group expense ratios are derived from data provided by Lipper, a Thomson Reuters Company, and capture information through year-end 2015.
Peer groups: For the California Tax-Exempt Money Market Fund, California Tax-Exempt Money Market Funds; for the California Intermediate-Term Tax-Exempt Fund, California Intermediate Municipal Debt Funds; for the California Long-Term Tax-Exempt Fund, California Municipal Debt Funds. In most, if not all, cases, the expense ratios for funds in the peer groups are based on net operating expenses after reimbursement and/or fee waivers by fund sponsors. In contrast, the Vanguard money market funds’ expense ratios in the table above do not reflect expense reductions.
4
International stocks fared worse than their U.S. counterparts, returning about –1%. Emerging-market stocks rose a bit, while stocks from the developed markets of Europe and the Pacific region declined.
European stocks lagged amid investor anxiety in the lead-up to the United Kingdom’s June vote on whether to remain in the European Union.
| The potential upside of rising rates |
| Bond fund investors may wonder about the effect of rising interest rates on bond prices— |
| even though the Federal Reserve has raised rates more slowly than anticipated. |
| Initially, as interest rates go up, the market value of bonds in a portfolio will decline, bringing |
| their yields closer to those of newer issues. However, the opportunity to reinvest cash flow |
| into higher-yielding bonds over time can benefit investors who can wait. |
| Consider a hypothetical example of an intermediate-term investment-grade taxable bond fund |
| yielding 2.25%. Assume rates rise by a quarter of a percentage point every January and July |
| from 2016 through 2019, ending at 4.25%. Although the cumulative total return would decline |
| initially, by mid-2023, it would be higher than if rates hadn’t changed. The bond math would be |
| similar for municipal bonds. Of course, the pace and magnitude of rate increases would affect |
| the time until breakeven. |
| The silver lining of higher yields |
| Cumulative rate of return |
| Notes: This hypothetical example shows the impact on a generic, taxable intermediate-term bond fund if the Federal Reserve raised |
| short-term interest rates by a quarter of a percentage point every January and July from 2016 through 2019. Intermediate-term rates |
| are assumed to rise by the same amount. The bond fund has a duration of 5.5 years. (Duration is a measure of the sensitivity of |
| bond—and bond mutual fund—prices to interest rate movements.) |
| Source: Vanguard. |
5
The quest for yield boosted returns of longer-dated bonds
Through May, the broad municipal bond market posted 11 consecutive monthly gains. This strong performance reflected some factors shared with taxable bonds and some factors specific to the tax-exempt market.
Investors often turn to the relative safety of higher-quality bonds during periods of uncertainty and stock market distress. This was especially evident in January, when many U.S. and international stock markets fell into or near bear market territory, in part because of concerns about the pace of global growth. (A decline of 20% or more lasting at least two months generally qualifies as a bear market for stocks.)
The broad taxable and tax-exempt bond markets both returned more than 1% in January, their best monthly result of the half year. And as negative interest rates became more common in Europe and Japan during the period, international buyers sought the still positive yields on U.S. bonds—both taxable and tax-exempt.
In addition, municipal bonds benefited from favorable supply-and-demand trends. Nationwide, the dollar volume of munis issued during the fiscal half year was lower than during the year-earlier period. And demand was robust, not only for a safe harbor. The higher yields offered on longer-term bonds attracted investors—especially amid a subdued outlook for inflation (with oil prices still relatively low) and muted expectations of further rate hikes. (Although rising rates can hurt bond prices in the near term, they can offer long-term upside, as explained in the box on page 5.)
California muni bonds were lifted by this generally rising tide and by the state’s relative fiscal stability. Strong demand persisted, and new-money bond issuance was tempered.
The return of the California Long-Term Fund, with its longer-maturity holdings, was more than a percentage point ahead of that of the California Intermediate-Term Fund, although the latter also tilts toward longer-term bonds. The funds’ advisor, Vanguard Fixed Income Group, continued pursuing a similar strategy for both funds. It generally underweighted the shorter end of the maturity spectrum, where interest rates rose (and future hikes were on the table), and favored higher-yielding bonds with somewhat lower, but still investment-grade, credit ratings. This strategy was successful, as it was in the previous fiscal year.
None of the California funds had any exposure to bonds issued from Puerto Rico, whose debt relief negotiations are ongoing. (Because the commonwealth’s bonds are exempt from federal, state, and local income tax, they often appear in state and national muni bond funds.)
For more about the funds’ strategy and performance, please see the Advisor’s Report that follows this letter.
6
Consider rebalancing to manage your risk
After you’ve created an investment portfolio—with a diversified mix of stock, bond, and money market funds tailored to your goals, time horizon, and risk tolerance—what next?
As stocks and bonds rise or fall over time, and that portfolio drifts from its original asset allocation, you should consider rebalancing back to your targets. Just one year of outsized returns can throw your allocation out of whack. Take, for example, a year like 2013, when the broad U.S. stock market returned nearly 34% and the broad taxable bond market declined. A hypothetical simple portfolio that tracked the broad U.S. market indexes and started the year with 60% stocks and 40% bonds would have ended with a more aggressive mix of 67% stocks and 33% bonds.
Rebalancing means shifting assets away from areas that have performed well toward those that have fallen behind, to restore the portfolio’s original asset allocation. That isn’t easy or intuitive, but it helps manage risk, because over time, riskier assets tend to grow faster. (For more on this, see Best Practices for Portfolio Rebalancing, at vanguard.com/research.)
You might consider, for example, monitoring your portfolio annually or semiannually and rebalancing when your allocations shift about 5 percentage points from their targets. And be aware of the tax implications.
Keeping your asset allocation from drifting too far off target can help you stay on track with the investment plan you’ve crafted to meet your financial goals.
As always, thank you for investing with Vanguard.
Sincerely,
F. William McNabb III
Chairman and Chief Executive Officer
June 14, 2016
7
| Your Fund’s Performance at a Glance | ||||
| November 30, 2015, Through May 31, 2016 | ||||
| Distributions Per Share | ||||
| Starting | Ending | Income | Capital | |
| Share Price | Share Price | Dividends | Gains | |
| Vanguard California Tax-Exempt Money Market | ||||
| Fund | $1.00 | $1.00 | $0.000 | $0.000 |
| Vanguard California Intermediate-Term | ||||
| Tax-Exempt Fund | ||||
| Investor Shares | $11.79 | $12.00 | $0.157 | $0.000 |
| Admiral Shares | 11.79 | 12.00 | 0.161 | 0.000 |
| Vanguard California Long-Term Tax-Exempt | ||||
| Fund | ||||
| Investor Shares | $12.12 | $12.43 | $0.208 | $0.000 |
| Admiral Shares | 12.12 | 12.43 | 0.213 | 0.000 |
8
Advisor’s Report
For the six months ended May 31, 2016, Vanguard California Tax-Exempt Money Market Fund returned 0.04%; the average return of peer funds was 0.02%.
Vanguard California Intermediate-Term Tax-Exempt Fund returned 3.12% for Investor Shares and 3.16% for Admiral Shares; Vanguard California Long-Term Tax-Exempt Fund returned 4.30% for Investor Shares and 4.34% for Admiral Shares. Both funds outperformed their state-specific benchmarks and the average return of their peers. The Barclays California Municipal Bond Index was in line with the broad national municipal market (as represented by the Barclays Municipal Bond Index).
The investment environment
As the funds’ fiscal year began, the market expected the Federal Reserve to increase interest rates for the first time in nearly a decade. It did so two weeks later, raising the federal funds target range by a quarter percentage point, to 0.25%–0.5%. The Fed cited considerable improvement in labor market conditions and reasonable confidence that inflation would rise over the medium term to the Fed’s 2% objective. Future rate hikes were expected to be gradual, and the Fed reaffirmed its data-dependent stance.
A global growth scare and steep declines in commodity prices early in 2016, however, ran contrary to expectations and triggered
| Yields of Tax-Exempt Municipal Securities | ||
| (AAA-Rated General-Obligation Issues) | ||
| November 30, | May 31, | |
| Maturity | 2015 | 2016 |
| 2 years | 0.72% | 0.72% |
| 5 years | 1.26 | 1.09 |
| 10 years | 2.02 | 1.66 |
| 30 years | 2.96 | 2.45 |
| Source: Vanguard. |
9
a large risk-off move in global financial markets. The Fed began to sound less eager to raise rates as it evaluated how deteriorating economic conditions abroad might impede the United States from reaching the central bank’s employment and inflation targets. Market expectations adjusted down from four rate hikes in 2016 to two.
The U.S. economy grew 1.4% in the fourth quarter of 2015, bringing growth for the calendar year to 2.4%. In 2016, for the third consecutive year, the economy got off to a weak start—this time with 0.8% growth in the first quarter. The still strong U.S. dollar, combined with weaker global economic and financial conditions overall, is believed to be behind the slowdown. But we expect growth to return to about 2% over the coming year.
The employment picture also weakened this spring. After increasing from December through March at an average rate of well over 200,000 jobs per month, nonfarm payrolls grew by about 123,000 in April and only 38,000 in May. As the supply of job-seekers shrank, the national unemployment rate fell to 4.7% in May. Inflation stayed fairly steady, with core inflation year-over-year rising at a 2.0% rate last November and 2.2% in May.
As negative interest rates spread across Europe, and with the Bank of Japan surprising markets in late January by introducing a negative-rate policy for certain deposits, U.S. bonds fared well. Investors also sought higher-quality bonds as a safe harbor from stock market volatility. For the six months, the broad U.S. taxable bond market returned 3.12% and the Barclays U.S. Treasury Index returned 2.92%.
Treasury yields generally rose in anticipation of the Fed’s December rate increase, closing out that month above November levels. Except for the shortest maturities, yields then fell as prospects for global growth and inflation dimmed. With short-term rates inching up, the yield curve (or the difference between the yield of the 30-year and 1-year Treasuries) flattened. At the end of May, the yield of the benchmark 10-year Treasury note stood at 1.85%, down from 2.22% at the end of November.
The Barclays Municipal Bond Index returned 3.42% for the period—half a percentage point more than the broad Treasury index. Some of the most notable outperformance came from long-term munis. Munis’ strength came in part from robust demand; in 2016, municipal bond funds industrywide have experienced net cash inflows every week through May.
Improving credit quality across much of the municipal market boosted demand. Lighter supply also helped: nationwide, tax-exempt bond issuance for the first five months of 2016 was nearly 8% below the year-earlier level. In contrast, issuance increased in California. Much of the supply in the state consisted of refundings, as issuers continued to take advantage of favorable market conditions to lower debt service costs.
10
In mid-June, after the close of the reporting period, the California State Legislature approved a budget for fiscal 2017, which begins July 1. This marks the sixth consecutive on-time budget approval, after many earlier years of late passage.
In addition to fiscal discipline, California’s financial situation has continued to improve, driven in part by improving state and national economic conditions and a voter-approved tax hike that took effect in 2013. Although revenues dipped below forecasts, the state did not need to issue revenue anticipation notes in fiscal 2016 (for the first time in more than a decade) and does not expect to do so for the new fiscal year.
With drought conditions easing somewhat, thanks to El Niño storms, mandatory statewide restrictions imposed last year on urban water use were suspended in May. We continue, however, to monitor the drought’s impact.
Management of the funds
In both bond funds, we maintained our strategy of favoring longer maturities, which again proved rewarding. For example, in the Intermediate-Term Fund, our sizable stake in bonds maturing in 10–20 years boosted our performance over the benchmark—which is made up of bonds maturing in 10 years or less. We did begin to pull back to a more neutral stance as valuations at the short end of the yield curve normalized and expectations for a slower Fed rate-hike cycle grew.
We still favored some lower-rated (but still investment-grade) bonds, which helped as investors kept reaching for yield. Favoring sectors that tend to offer wider credit spreads, including hospital and university revenue bonds, also helped. Our holdings of local general obligation bonds also performed well; because the state’s GO bonds are heavily represented in the funds’ benchmarks, we consistently underweight them to help ensure proper diversification, investing instead in state GOs and other bonds. And, although California terminated its redevelopment agencies some years ago, they continue to exist to service their bonds—which we have been purchasing and which have performed well for us.
We continued to overweight premium callable bonds, which outperformed. They will remain a core strategy for us, as they would provide some protection to the funds if rates were to rise sharply.
A look ahead
Interest rates are likely to remain range- bound for some time, with the U.S. growth pace setting a floor on how low they can go and weakness in the global economy capping how high they can rise. Given that future Fed hikes depend on economic data at home and abroad, rate volatility may remain elevated. The above-average liquidity in our California funds should position us to take advantage of any buying opportunities that arise from such dislocation.
11
The Fed left rates unchanged at its May meeting and seems on track to continue tightening at a much slower pace than in previous cycles. That slower pace and possibly a lower terminal short-term interest rate would most likely keep municipal rates below what we’ve seen over the past ten to 15 years.
We are starting the second half of the fiscal year more neutral on duration and yield-curve positioning but will make tactical adjustments as seasonal opportunities arise.
On the money market front, as previously reported, we plan to designate the California Tax-Exempt Money Market Fund as a retail fund, along with all our national and state-specific tax-exempt money market funds—giving investors continued access to these stable-value offerings.
As always, our experienced team of portfolio managers, traders, and credit analysts will seek to add value to the portfolios through security selection by identifying bonds that are mispriced by the market.
Christopher W. Alwine, CFA, Principal,
Head of Municipal Group
John M. Carbone, Principal,
Portfolio Manager
James M. D’Arcy, CFA, Portfolio Manager
Adam Ferguson, CFA, Portfolio Manager
Vanguard Fixed Income Group
June 20, 2016
12
California Tax-Exempt Money Market Fund
Fund Profile
As of May 31, 2016
| Financial Attributes | |
| Ticker Symbol | VCTXX |
| Expense Ratio1 | 0.16% |
| 7-Day SEC Yield | 0.25% |
| Average Weighted | |
| Maturity | 13 days |
| Distribution by Credit Quality (% of portfolio) | |
| First Tier | 100.0% |
A First Tier security is one that is eligible for money market funds and has been rated in the highest short-term rating category for debt obligations by nationally recognized statistical rating organizations. Credit-quality ratings are obtained from Moody's, Fitch, and S&P. For securities rated by all three agencies, where two of them are in agreement and assign the highest rating category, the highest rating applies. If a security is only rated by two agencies, and their ratings are in different categories, the lower of the ratings applies. An unrated security is First Tier if it represents quality comparable to that of a rated security, as determined in accordance with SEC Rule 2a-7. For more information about these ratings, see the Glossary entry for Credit Quality.
1 The expense ratio shown is from the prospectus dated March 29, 2016, and represents estimated costs for the current fiscal year. For the six months ended May 31, 2016, the annualized expense ratio was 0.10%, reflecting a temporary reduction in operating expenses (described in Note B of the Notes to Financial Statements). Before this reduction, the annualized six-month expense ratio was 0.16%.
13
California Tax-Exempt Money Market Fund
Performance Summary
Investment returns will fluctuate. All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) The returns shown do not reflect taxes that a shareholder would pay on fund distributions. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the fund. The fund’s 7-day SEC yield reflects its current earnings more closely than do the average annual returns.
| Fiscal-Year Total Returns (%): November 30, 2005, Through May 31, 2016 | ||
| CA Tax-Exempt | ||
| Money | ||
| Funds | ||
| Fiscal Year | Total Returns | Total Returns |
| 2006 | 3.24% | 2.78% |
| 2007 | 3.55 | 3.06 |
| 2008 | 2.21 | 1.81 |
| 2009 | 0.37 | 0.17 |
| 2010 | 0.11 | 0.01 |
| 2011 | 0.07 | 0.01 |
| 2012 | 0.03 | 0.00 |
| 2013 | 0.01 | 0.00 |
| 2014 | 0.01 | 0.00 |
| 2015 | 0.01 | 0.00 |
| 2016 | 0.04 | 0.02 |
| 7-day SEC yield (5/31/2016): 0.25% | ||
| California Tax-Exempt Money Market Funds Average: Derived from data provided by Lipper, a Thomson Reuters Company. | ||
| Note: For 2016, performance data reflect the six months ended May 31, 2016. | ||
Average Annual Total Returns: Periods Ended March 31, 2016
This table presents returns through the latest calendar quarter—rather than through the end of the fiscal period.
Securities and Exchange Commission rules require that we provide this information.
| Inception | One | Five | Ten | |
| Date | Year | Years | Years | |
| California Tax-Exempt Money | ||||
| Market Fund | 6/1/1987 | 0.01% | 0.02% | 0.86% |
See Financial Highlights for dividend information.
14
California Tax-Exempt Money Market Fund
Financial Statements (unaudited)
Statement of Net Assets
As of May 31, 2016
The fund reports a complete list of its holdings in various monthly and quarterly regulatory filings. The fund publishes its holdings on a monthly basis at vanguard.com and files them with the Securities and Exchange Commission on Form N-MFP. The fund’s Form N-MFP filings become public 60 days after the relevant month-end, and may be viewed at sec.gov or via a link on the “Portfolio Holdings” page on vanguard.com. For the second and fourth fiscal quarters, the lists appear in the fund’s semiannual and annual reports to shareholders. For the first and third fiscal quarters, the fund files the lists with the SEC on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website at sec.gov. Forms N-Q may also be reviewed and copied at the SEC’s Public Reference Room (see the back cover of this report for further information).
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Tax-Exempt Municipal Bonds (101.5%) | ||||
| California (101.5%) | ||||
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Branson School) VRDO | 0.400% | 6/7/16 LOC | 21,700 | 21,700 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Computer History Museum) | ||||
| VRDO | 0.400% | 6/7/16 LOC | 7,000 | 7,000 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Lakeside Village Apartments) | ||||
| VRDO | 0.400% | 6/7/16 LOC | 23,300 | 23,300 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Public Policy Institute) VRDO | 0.400% | 6/7/16 LOC | 12,705 | 12,705 |
| Anaheim CA Housing Finance Agency Home | ||||
| Mortgage Revenue VRDO | 0.430% | 6/7/16 LOC | 5,485 | 5,485 |
| 1 Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) TOB VRDO | 0.420% | 6/7/16 | 4,910 | 4,910 |
| 1 Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) TOB VRDO | 0.430% | 6/7/16 | 3,700 | 3,700 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) VRDO | 0.380% | 6/7/16 LOC | 11,000 | 11,000 |
| California Community Development Revenue | ||||
| VRDO | 0.360% | 6/7/16 LOC | 2,200 | 2,200 |
| 1 California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) TOB | ||||
| VRDO | 0.420% | 6/7/16 | 4,100 | 4,100 |
| California Department of Water Resources Water | ||||
| System Revenue CP | 0.430% | 6/15/16 | 20,249 | 20,249 |
| 1 California Educational Facilities Authority | ||||
| Revenue (California Institute of Technology) | ||||
| TOB VRDO | 0.440% | 6/7/16 | 3,365 | 3,365 |
| California Educational Facilities Authority | ||||
| Revenue (California Institute of Technology) | ||||
| VRDO | 0.390% | 6/7/16 | 55,800 | 55,800 |
| California Educational Facilities Authority | ||||
| Revenue (Stanford Hospital) CP | 0.500% | 8/3/16 | 33,050 | 33,050 |
| California Educational Facilities Authority | ||||
| Revenue (Stanford University) CP | 0.210% | 7/6/16 | 15,000 | 15,000 |
15
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Educational Facilities Authority | ||||
| Revenue (Stanford University) CP | 0.470% | 9/6/16 | 23,000 | 23,000 |
| California Educational Facilities Authority | ||||
| Revenue (Stanford University) CP | 0.470% | 9/6/16 | 1,200 | 1,200 |
| 1 California Educational Facilities Authority | ||||
| Revenue (Stanford University) TOB VRDO | 0.420% | 6/7/16 | 8,000 | 8,000 |
| 1 California Educational Facilities Authority | ||||
| Revenue (Stanford University) TOB VRDO | 0.440% | 6/7/16 | 3,000 | 3,000 |
| 1 California Educational Facilities Authority | ||||
| Revenue (Stanford University) VRDO | 0.370% | 6/7/16 | 1,000 | 1,000 |
| 1 California Educational Facilities Authority | ||||
| Revenue (Stanford University) VRDO | 0.370% | 6/7/16 | 4,800 | 4,800 |
| California Educational Facilities Authority | ||||
| Revenue (University of San Francisco) VRDO | 0.400% | 6/7/16 LOC | 11,050 | 11,050 |
| 1 California Educational Facilities Authority | ||||
| Revenue (University of Southern California) | ||||
| TOB VRDO | 0.440% | 6/7/16 | 14,800 | 14,800 |
| California GO | 5.000% | 10/1/16 | 1,200 | 1,218 |
| California GO CP | 0.490% | 7/28/16 LOC | 6,200 | 6,200 |
| California GO VRDO | 0.260% | 6/1/16 LOC | 16,485 | 16,485 |
| California GO VRDO | 0.270% | 6/1/16 LOC | 7,150 | 7,150 |
| California GO VRDO | 0.370% | 6/7/16 LOC | 15,000 | 15,000 |
| California GO VRDO | 0.380% | 6/7/16 LOC | 13,470 | 13,470 |
| California GO VRDO | 0.380% | 6/7/16 LOC | 2,400 | 2,400 |
| California GO VRDO | 0.380% | 6/7/16 LOC | 17,100 | 17,100 |
| California GO VRDO | 0.380% | 6/7/16 LOC | 10,500 | 10,500 |
| California GO VRDO | 0.380% | 6/7/16 LOC | 10,000 | 10,000 |
| California GO VRDO | 0.390% | 6/7/16 LOC | 20,000 | 20,000 |
| California Health Facilities Financing Authority | ||||
| Revenue (Adventist Health System/West) VRDO | 0.310% | 6/1/16 LOC | 15,850 | 15,850 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) VRDO | 0.360% | 6/7/16 LOC | 33,850 | 33,850 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) VRDO | 0.380% | 6/7/16 LOC | 6,725 | 6,725 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Orange County) | ||||
| VRDO | 0.390% | 6/7/16 LOC | 8,325 | 8,325 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Orange County) | ||||
| VRDO | 0.390% | 6/7/16 LOC | 16,445 | 16,445 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) TOB VRDO | 0.440% | 6/7/16 | 5,000 | 5,000 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) TOB VRDO | 0.500% | 6/7/16 | 7,055 | 7,055 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) TOB VRDO | 0.500% | 6/7/16 | 6,150 | 6,150 |
| 2 California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) PUT | 0.600% | 12/27/16 | 36,000 | 36,000 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) VRDO | 0.390% | 6/7/16 | 12,000 | 12,000 |
16
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) VRDO | 0.390% | 6/7/16 | 47,000 | 47,000 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) VRDO | 0.360% | 6/7/16 LOC | 3,250 | 3,250 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) VRDO | 0.360% | 6/7/16 LOC | 5,485 | 5,485 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) VRDO | 0.370% | 6/7/16 LOC | 8,000 | 8,000 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) VRDO | 0.390% | 6/7/16 LOC | 21,795 | 21,795 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) TOB VRDO | 0.430% | 6/7/16 | 20,610 | 20,610 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) TOB VRDO | 0.430% | 6/7/16 | 13,700 | 13,700 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) TOB VRDO | 0.440% | 6/7/16 | 3,750 | 3,750 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) TOB VRDO | 0.440% | 6/7/16 | 5,000 | 5,000 |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) TOB VRDO | 0.440% | 6/7/16 | 9,375 | 9,375 |
| California Housing Finance Agency Home | ||||
| Mortgage Revenue VRDO | 0.400% | 6/7/16 LOC | 3,785 | 3,785 |
| California Housing Finance Agency Home | ||||
| Mortgage Revenue VRDO | 0.400% | 6/7/16 LOC | 3,030 | 3,030 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Academy of | ||||
| Sciences) VRDO | 0.260% | 6/1/16 LOC | 8,425 | 8,425 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Los Angeles | ||||
| County Museum of Natural History Foundation) | ||||
| VRDO | 0.260% | 6/1/16 LOC | 17,150 | 17,150 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Los Angeles | ||||
| County Museum of Natural History Foundation) | ||||
| VRDO | 0.260% | 6/1/16 LOC | 12,700 | 12,700 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Pacific Gas & | ||||
| Electric Co.) VRDO | 0.340% | 6/1/16 LOC | 9,100 | 9,100 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (SRI International) | ||||
| VRDO | 0.450% | 6/7/16 LOC | 4,100 | 4,100 |
| California Municipal Finance Authority Recovery | ||||
| Zone Revenue (Chevron USA Inc. Project) VRDO | 0.280% | 6/1/16 | 12,200 | 12,200 |
| California Pollution Control Financing Authority | ||||
| Revenue (Pacific Gas & Electric Co.) VRDO | 0.330% | 6/1/16 LOC | 4,160 | 4,160 |
| California Pollution Control Financing Authority | ||||
| Revenue (Pacific Gas & Electric Co.) VRDO | 0.350% | 6/1/16 LOC | 8,100 | 8,100 |
| California Pollution Control Financing Authority | ||||
| Revenue (Pacific Gas & Electric Co.) VRDO | 0.350% | 6/1/16 LOC | 20,300 | 20,300 |
| California School Cash Reserve Program | ||||
| Authority Revenue | 2.000% | 6/30/16 | 6,650 | 6,659 |
| California School Cash Reserve Program | ||||
| Authority Revenue | 2.000% | 6/30/16 | 13,725 | 13,743 |
17
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| 1 California State University Systemwide Revenue | ||||
| TOB VRDO | 0.430% | 6/7/16 | 7,160 | 7,160 |
| California Statewide Communities Development | �� | |||
| Authority Multifamily Housing Revenue (Canyon | ||||
| Springs Apartments Project) VRDO | 0.430% | 6/7/16 LOC | 11,205 | 11,205 |
| California Statewide Communities Development | ||||
| Authority Multifamily Housing Revenue | ||||
| (Ridgeway Apartments) VRDO | 0.380% | 6/7/16 LOC | 20,715 | 20,715 |
| California Statewide Communities Development | ||||
| Authority Multifamily Housing Revenue (Wilshire | ||||
| Court Project) VRDO | 0.420% | 6/7/16 LOC | 11,900 | 11,900 |
| California Statewide Communities Development | ||||
| Authority Pollution Control Revenue (Chevron | ||||
| USA Inc. Project) VRDO | 0.280% | 6/1/16 | 3,650 | 3,650 |
| California Statewide Communities Development | ||||
| Authority Revenue (Community Hospital of the | ||||
| Monterey Peninsula) VRDO | 0.390% | 6/7/16 LOC | 34,300 | 34,300 |
| California Statewide Communities Development | ||||
| Authority Revenue (John Muir Health) VRDO | 0.300% | 6/1/16 LOC | 3,300 | 3,300 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) CP | 0.450% | 7/6/16 | 1,500 | 1,500 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.350% | 6/7/16 | 3,810 | 3,810 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.350% | 6/7/16 | 1,000 | 1,000 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.360% | 6/7/16 | 3,000 | 3,000 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.360% | 6/7/16 | 1,200 | 1,200 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.360% | 6/7/16 | 13,110 | 13,110 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.360% | 6/7/16 | 35,560 | 35,560 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.360% | 6/7/16 | 16,635 | 16,635 |
| California Statewide Communities Development | ||||
| Authority Revenue (Scripps Health) VRDO | 0.370% | 6/7/16 LOC | 8,000 | 8,000 |
| 1 California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) TOB VRDO | 0.430% | 6/7/16 | 5,770 | 5,770 |
| 1 California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) TOB VRDO | 0.440% | 6/7/16 | 6,230 | 6,230 |
| 1 California Statewide Communities Development | ||||
| Authority Revenue (Trinity Health) TOB VRDO | 0.420% | 6/7/16 | 2,175 | 2,175 |
| 1 Cerritos CA Community College District GO TOB | ||||
| VRDO | 0.450% | 6/7/16 | 7,845 | 7,845 |
| Chino Basin Regional Financing Authority | ||||
| California Revenue (Inland Empire Utilities | ||||
| Agency) VRDO | 0.390% | 6/7/16 LOC | 7,045 | 7,045 |
| Chula Vista CA Multifamily Housing Revenue | ||||
| (Teresina Apartments) VRDO | 0.420% | 6/7/16 LOC | 27,940 | 27,940 |
| Contra Costa CA Municipal Water District | ||||
| Revenue | 4.000% | 10/1/16 | 3,715 | 3,758 |
| Contra Costa CA Municipal Water District | ||||
| Revenue (Extendible) CP | 0.550% | 2/12/17 | 11,000 | 11,000 |
18
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| 1 Cupertino CA Union School District GO TOB | ||||
| VRDO | 0.430% | 6/7/16 | 4,400 | 4,400 |
| 1 Desert CA Community College District GO | ||||
| TOB VRDO | 0.420% | 6/7/16 | 6,000 | 6,000 |
| 1 Desert CA Community College District GO | ||||
| TOB VRDO | 0.450% | 6/7/16 | 7,840 | 7,840 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue CP | 0.100% | 6/1/16 | 10,000 | 10,000 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue CP | 0.440% | 6/3/16 | 5,000 | 5,000 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue CP | 0.410% | 6/15/16 | 10,000 | 10,000 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue CP | 0.430% | 7/5/16 | 28,000 | 28,000 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue CP | 0.430% | 7/7/16 | 10,700 | 10,700 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue CP | 0.440% | 8/1/16 | 10,000 | 10,000 |
| 1 East Bay CA Municipal Utility District Water | ||||
| System Revenue TOB VRDO | 0.400% | 6/7/16 | 9,260 | 9,260 |
| 1 Eastern California Municipal Water District | ||||
| Water & Sewer COP TOB VRDO | 0.430% | 6/7/16 | 1,595 | 1,595 |
| 3 Eastern California Municipal Water District | ||||
| Water & Sewer Revenue PUT | 0.450% | 7/11/16 | 15,700 | 15,700 |
| Eastern California Municipal Water District | ||||
| Water & Wastewater Revenue VRDO | 0.310% | 6/1/16 | 20,275 | 20,275 |
| Eastern California Municipal Water District | ||||
| Water & Wastewater Revenue VRDO | 0.380% | 6/7/16 | 18,700 | 18,700 |
| Elsinore Valley CA Municipal Water District | ||||
| COP VRDO | 0.370% | 6/7/16 LOC | 9,900 | 9,900 |
| Escondido CA Community Development | ||||
| (Escondido Promenade Project) COP VRDO | 0.440% | 6/7/16 LOC | 9,300 | 9,300 |
| Escondido CA Community Development | ||||
| Multifamily Revenue (Heritage Park | ||||
| Apartments) VRDO | 0.430% | 6/7/16 LOC | 4,250 | 4,250 |
| Evergreen CA School District Election GO | 2.000% | 8/1/16 | 2,250 | 2,256 |
| Fremont CA COP VRDO | 0.390% | 6/7/16 LOC | 13,980 | 13,980 |
| Fremont CA COP VRDO | 0.390% | 6/7/16 LOC | 7,740 | 7,740 |
| Fremont CA COP VRDO | 0.390% | 6/7/16 LOC | 26,165 | 26,165 |
| Fresno CA Unified School District GO | 2.000% | 8/1/16 | 1,145 | 1,148 |
| Irvine CA Assessment District No. 00-18 | ||||
| Improvement Revenue VRDO | 0.300% | 6/1/16 LOC | 2,600 | 2,600 |
| Irvine CA Assessment District No. 94-13 | ||||
| Improvement Revenue (Oak Creek) VRDO | 0.300% | 6/1/16 LOC | 8,435 | 8,435 |
| Irvine CA Assessment District No. 97-17 | ||||
| Improvement Revenue VRDO | 0.300% | 6/1/16 LOC | 9,700 | 9,700 |
| Irvine CA Public Facilities & Infrastructure | ||||
| Authority Assessment Revenue VRDO | 0.300% | 6/1/16 LOC | 3,978 | 3,978 |
| Irvine CA Public Facilities & Infrastructure | ||||
| Authority Assessment Revenue VRDO | 0.300% | 6/1/16 LOC | 4,992 | 4,992 |
| 3 Irvine CA Ranch Water District Revenue PUT | 0.480% | 3/17/17 | 4,400 | 4,400 |
| 3 Irvine CA Ranch Water District Revenue PUT | 0.480% | 3/17/17 | 8,300 | 8,300 |
| Irvine CA Ranch Water District Revenue VRDO | 0.310% | 6/1/16 LOC | 21,550 | 21,550 |
19
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Irvine CA Reassessment District No. 05-21 | ||||
| Improvement Revenue VRDO | 0.300% | 6/1/16 LOC | 1,800 | 1,800 |
| Irvine CA Unified School District Community | ||||
| Facilities District No. 09-1 Special Tax Revenue | ||||
| VRDO | 0.310% | 6/1/16 LOC | 15,816 | 15,816 |
| Irvine CA Unified School District Community | ||||
| Facilities District No. 09-1 Special Tax Revenue | ||||
| VRDO | 0.310% | 6/1/16 LOC | 13,175 | 13,175 |
| Irvine CA Unified School District Community | ||||
| Facilities District No. 09-A Special Tax Revenue | ||||
| VRDO | 0.310% | 6/1/16 LOC | 14,800 | 14,800 |
| LA CAP CP | 0.410% | 6/23/16 LOC | 16,000 | 16,000 |
| LA CAP CP | 0.450% | 7/8/16 LOC | 7,290 | 7,290 |
| Livermore CA Redevelopment Agency | ||||
| Multi-Family Housing Revenue (Richards | ||||
| Manor) VRDO | 0.430% | 6/7/16 LOC | 4,770 | 4,770 |
| 1 Long Beach CA Harbor Revenue TOB VRDO | 0.420% | 6/7/16 | 4,000 | 4,000 |
| 1 Los Angeles CA Community College District GO | ||||
| TOB VRDO | 0.440% | 6/7/16 | 15,940 | 15,940 |
| Los Angeles CA Community Redevelopment | ||||
| Agency Multifamily Housing Revenue | ||||
| (Hollywood & Vine Apartments) VRDO | 0.410% | 6/7/16 LOC | 19,200 | 19,200 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.410% | 6/7/16 | 4,700 | 4,700 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.430% | 6/7/16 | 5,000 | 5,000 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.430% | 6/7/16 | 3,700 | 3,700 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.440% | 6/7/16 | 2,500 | 2,500 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.460% | 6/7/16 | 5,020 | 5,020 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.460% | 6/7/16 | 6,665 | 6,665 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.460% | 6/7/16 | 7,545 | 7,545 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.480% | 6/7/16 | 18,885 | 18,885 |
| 1 Los Angeles CA Department of Airports | ||||
| International Airport Revenue TOB VRDO | 0.480% | 6/7/16 | 7,980 | 7,980 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue | 4.000% | 7/1/16 | 7,050 | 7,072 |
| 1 Los Angeles CA Department of Water & | ||||
| Power Revenue TOB VRDO | 0.420% | 6/7/16 | 6,200 | 6,200 |
| 1 Los Angeles CA Department of Water & | ||||
| Power Revenue TOB VRDO | 0.420% | 6/7/16 | 1,150 | 1,150 |
| 1 Los Angeles CA Department of Water & | ||||
| Power Revenue TOB VRDO | 0.420% | 6/7/16 | 13,375 | 13,375 |
| 1 Los Angeles CA Department of Water & | ||||
| Power Revenue TOB VRDO | 0.430% | 6/7/16 | 7,495 | 7,495 |
| 1 Los Angeles CA Department of Water & | ||||
| Power Revenue TOB VRDO | 0.440% | 6/7/16 | 10,900 | 10,900 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.270% | 6/1/16 | 3,800 | 3,800 |
20
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.280% | 6/1/16 | 33,900 | 33,900 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.280% | 6/1/16 | 10,000 | 10,000 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.360% | 6/7/16 | 10,300 | 10,300 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.360% | 6/7/16 | 25,200 | 25,200 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.370% | 6/7/16 | 28,550 | 28,550 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.370% | 6/7/16 | 18,600 | 18,600 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.380% | 6/7/16 | 14,000 | 14,000 |
| Los Angeles CA Department of Water & | ||||
| Power Revenue VRDO | 0.390% | 6/7/16 | 4,200 | 4,200 |
| 1 Los Angeles CA Harbor Department Revenue | ||||
| TOB VRDO | 0.430% | 6/7/16 | 8,150 | 8,150 |
| 1 Los Angeles CA Harbor Department Revenue | ||||
| TOB VRDO | 0.480% | 6/7/16 | 2,220 | 2,220 |
| Los Angeles CA Multifamily Housing Revenue | ||||
| (Queen Portfolio Apartments Project) VRDO | 0.440% | 6/7/16 LOC | 6,595 | 6,595 |
| Los Angeles CA Multifamily Housing Revenue | ||||
| (San Regis Project) VRDO | 0.450% | 6/7/16 LOC | 23,600 | 23,600 |
| Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue CP | 0.460% | 6/1/16 LOC | 5,000 | 5,000 |
| Los Angeles CA Unified School District GO | 3.000% | 7/1/16 | 2,000 | 2,005 |
| Los Angeles CA Unified School District GO | 4.000% | 7/1/16 | 3,750 | 3,761 |
| Los Angeles CA Unified School District GO | 4.750% | 7/1/16 (Prere.) | 6,340 | 6,363 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 3,000 | 3,011 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 1,000 | 1,004 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 2,205 | 2,214 |
| 1 Los Angeles CA Unified School District GO TOB | ||||
| VRDO | 0.430% | 6/7/16 | 6,660 | 6,660 |
| 1 Los Angeles CA Unified School District GO TOB | ||||
| VRDO | 0.430% | 6/7/16 | 9,995 | 9,995 |
| 1 Los Angeles CA Wastewater System Revenue | ||||
| TOB VRDO | 0.430% | 6/7/16 | 7,500 | 7,500 |
| Los Angeles County CA Multifamily Housing | ||||
| Revenue (Valencia Village Project) VRDO | 0.420% | 6/7/16 LOC | 6,325 | 6,325 |
| Los Angeles County CA Schools Pooled | ||||
| Financing Program TRAN | 2.000% | 6/1/16 | 7,500 | 7,500 |
| Los Angeles County CA Schools Pooled | ||||
| Financing Program TRAN | 2.000% | 6/1/16 | 5,500 | 5,500 |
| 1 Los Angeles County CA Unified School District | ||||
| GO TOB VRDO | 0.430% | 6/7/16 | 5,000 | 5,000 |
| Manteca CA Redevelopment Agency Tax | ||||
| Allocation Revenue VRDO | 0.300% | 6/1/16 LOC | 12,515 | 12,515 |
| Metropolitan Water District of Southern | ||||
| California Revenue VRDO | 0.290% | 6/1/16 | 11,900 | 11,900 |
| Metropolitan Water District of Southern | ||||
| California Revenue VRDO | 0.360% | 6/7/16 | 34,645 | 34,645 |
| Metropolitan Water District of Southern | ||||
| California Revenue VRDO | 0.360% | 6/7/16 | 17,200 | 17,200 |
21
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Metropolitan Water District of Southern | ||||
| California Revenue VRDO | 0.360% | 6/7/16 | 24,450 | 24,450 |
| Metropolitan Water District of Southern | ||||
| California Revenue VRDO | 0.380% | 6/7/16 | 14,775 | 14,775 |
| Modesto CA Water Revenue VRDO | 0.390% | 6/7/16 LOC | 10,260 | 10,260 |
| 1 Mountain View-Whisman CA School District | ||||
| GO TOB VRDO | 0.420% | 6/7/16 | 4,800 | 4,800 |
| 1 Nuveen California AMT-Free Municipal Income | ||||
| Fund VRDP VRDO | 0.480% | 6/7/16 LOC | 16,200 | 16,200 |
| 1 Nuveen California Dividend Advantage Municipal | ||||
| Fund 2 VRDP VRDO | 0.510% | 6/7/16 LOC | 30,000 | 30,000 |
| 1 Nuveen California Dividend Advantage Municipal | ||||
| Fund 3 VRDP VRDO | 0.520% | 6/7/16 LOC | 78,900 | 78,900 |
| 1 Nuveen California Dividend Advantage Municipal | ||||
| Fund VRDP VRDO | 0.510% | 6/7/16 LOC | 12,000 | 12,000 |
| 1 Nuveen California Dividend Advantage Municipal | ||||
| Fund VRDP VRDO | 0.520% | 6/7/16 LOC | 24,000 | 24,000 |
| 1 Nuveen California Dividend Advantage Municipal | ||||
| Fund VRDP VRDO | 0.520% | 6/7/16 LOC | 20,800 | 20,800 |
| 1 Nuveen California Dividend Advantage Municipal | ||||
| Fund VRDP VRDO | 0.520% | 6/7/16 LOC | 41,600 | 41,600 |
| 1 Nuveen California Dividend Advantage Municipal | ||||
| Fund VRDP VRDO | 0.520% | 6/7/16 LOC | 40,900 | 40,900 |
| Nuveen Insured California AMT-Free Municipal | ||||
| Income Fund VRDP VRDO | 0.460% | 6/7/16 LOC | 39,500 | 39,500 |
| Orange County CA Apartment Development | ||||
| Revenue VRDO | 0.400% | 6/7/16 LOC | 9,550 | 9,550 |
| Palo Alto CA Unified School District GO | 4.000% | 8/1/16 | 11,000 | 11,065 |
| 1 Peralta CA Community College District Revenue | ||||
| TOB VRDO | 0.440% | 6/7/16 | 19,645 | 19,645 |
| 1 Regents of the University of California Revenue | ||||
| TOB VRDO | 0.410% | 6/7/16 | 5,125 | 5,125 |
| 1 Regents of the University of California Revenue | ||||
| TOB VRDO | 0.430% | 6/7/16 | 3,495 | 3,495 |
| 1 Regents of the University of California Revenue | ||||
| TOB VRDO | 0.430% | 6/7/16 | 6,000 | 6,000 |
| 1 Regents of the University of California Revenue | ||||
| TOB VRDO | 0.440% | 6/7/16 | 4,377 | 4,377 |
| Riverside CA COP VRDO | 0.400% | 6/7/16 LOC | 26,400 | 26,400 |
| Riverside CA Electric Revenue VRDO | 0.390% | 6/7/16 LOC | 40,475 | 40,475 |
| Riverside County CA Revenue (Teeter) | 2.000% | 10/12/16 | 10,000 | 10,052 |
| Riverside County CA Transportation Commission | ||||
| Sales Tax Revenue CP | 0.440% | 7/7/16 LOC | 4,000 | 4,000 |
| Riverside County CA Transportation Commission | ||||
| Sales Tax Revenue VRDO | 0.370% | 6/7/16 | 18,800 | 18,800 |
| Riverside County CA Transportation Commission | ||||
| Sales Tax Revenue VRDO | 0.370% | 6/7/16 | 1,300 | 1,300 |
| Sacramento CA Municipal Utility District | ||||
| Revenue CP | 0.400% | 6/1/16 LOC | 20,000 | 20,000 |
| Sacramento CA Municipal Utility District | ||||
| Revenue CP | 0.500% | 6/1/16 LOC | 15,000 | 15,000 |
| Sacramento CA Municipal Utility District | ||||
| Revenue VRDO | 0.390% | 6/7/16 LOC | 1,960 | 1,960 |
22
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Sacramento CA Municipal Utility District | ||||
| Revenue VRDO | 0.400% | 6/7/16 LOC | 13,700 | 13,700 |
| Sacramento CA Transportation Authority Sales | ||||
| Tax Revenue VRDO | 0.390% | 6/7/16 | 86,400 | 86,400 |
| Sacramento County CA Multifamily Housing | ||||
| Revenue (River Pointe Apartments) VRDO | 0.420% | 6/7/16 LOC | 9,800 | 9,800 |
| Sacramento County CA Multifamily Housing | ||||
| Revenue (River Pointe Apartments) VRDO | 0.450% | 6/7/16 LOC | 12,300 | 12,300 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 6/1/16 (Prere.) | 5,000 | 5,000 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 6/1/16 (Prere.) | 2,500 | 2,500 |
| 1 San Bernardino CA Community College District | ||||
| GO TOB VRDO | 0.420% | 6/7/16 | 4,620 | 4,620 |
| 1 San Bernardino County CA Transportation | ||||
| Authority Revenue TOB VRDO | 0.430% | 6/7/16 | 12,100 | 12,100 |
| 1 San Diego CA Community College District GO | ||||
| TOB VRDO | 0.400% | 6/7/16 | 5,710 | 5,710 |
| 1 San Diego CA Community College District GO | ||||
| TOB VRDO | 0.450% | 6/7/16 | 3,290 | 3,290 |
| San Diego CA Housing Authority Multifamily | ||||
| Housing Revenue (Bay Vista Apartments Project) | ||||
| VRDO | 0.420% | 6/7/16 LOC | 9,690 | 9,690 |
| San Diego CA Housing Authority Multifamily | ||||
| Housing Revenue (Canyon Rim Apartments) | ||||
| VRDO | 0.420% | 6/7/16 LOC | 20,440 | 20,440 |
| 1 San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue TOB VRDO | 0.430% | 6/7/16 | 4,210 | 4,210 |
| 1 San Diego County CA Regional Transportation | ||||
| Commission Sales Tax Revenue TOB VRDO | 0.430% | 6/7/16 | 4,445 | 4,445 |
| San Diego County CA Regional Transportation | ||||
| Commission Sales Tax Revenue VRDO | 0.370% | 6/7/16 | 14,745 | 14,745 |
| San Diego County CA Regional Transportation | ||||
| Commission Sales Tax Revenue VRDO | 0.380% | 6/7/16 | 64,230 | 64,230 |
| San Diego County CA Water Authority Revenue | 5.000% | 7/1/16 | 14,265 | 14,265 |
| San Diego County CA Water Authority Revenue | ||||
| (Extendible) CP | 0.450% | 2/5/17 | 7,500 | 7,500 |
| San Diego County CA Water Authority Revenue | ||||
| (Extendible) CP | 0.550% | 2/6/17 | 12,500 | 12,500 |
| 1 San Diego County CA Water Authority Revenue | ||||
| COP TOB VRDO | 0.420% | 6/7/16 | 10,100 | 10,100 |
| San Diego County CA Water Authority | ||||
| Revenue CP | 0.500% | 6/1/16 | 2,500 | 2,500 |
| San Diego County CA Water Authority | ||||
| Revenue CP | 0.420% | 6/22/16 | 10,000 | 10,000 |
| San Diego County CA Water Authority | ||||
| Revenue CP | 0.460% | 7/12/16 | 5,000 | 5,000 |
| 1 San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue TOB VRDO | 0.430% | 6/7/16 | 9,900 | 9,900 |
| 1 San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue TOB VRDO | 0.430% | 6/7/16 | 3,335 | 3,335 |
| San Francisco CA City & County (Earthquake | ||||
| Safety & Emergency Response) GO | 5.000% | 6/15/16 | 3,700 | 3,707 |
23
| California Tax-Exempt Money Market Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA City & County Finance Corp. | ||||
| Lease Revenue (Moscone Center Expansion) | ||||
| VRDO | 0.380% | 6/7/16 LOC | 10,185 | 10,185 |
| San Francisco CA City & County Finance Corp. | ||||
| Lease Revenue (Moscone Center Expansion) | ||||
| VRDO | 0.390% | 6/7/16 LOC | 40,255 | 40,255 |
| San Francisco CA City & County GO | 2.000% | 6/15/16 | 10,000 | 10,007 |
| San Francisco CA City & County International | ||||
| Airport Revenue CP | 0.520% | 9/7/16 LOC | 10,000 | 10,000 |
| San Francisco CA City & County International | ||||
| Airport Revenue VRDO | 0.360% | 6/7/16 LOC | 6,500 | 6,500 |
| San Francisco CA City & County International | ||||
| Airport Revenue VRDO | 0.380% | 6/7/16 LOC | 24,700 | 24,700 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Sewer Revenue CP | 0.440% | 6/22/16 | 10,000 | 10,000 |
| 1 San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue TOB VRDO | 0.430% | 6/7/16 | 20,000 | 20,000 |
| San Francisco CA City & County Redevelopment | ||||
| Agency Multifamily Housing Revenue (Third & | ||||
| Mission Streets) VRDO | 0.410% | 6/7/16 LOC | 55,100 | 55,100 |
| 1 San Joaquin Delta CA Community College | ||||
| District GO TOB VRDO | 0.500% | 6/7/16 | 4,835 | 4,835 |
| San Jose CA Multifamily Housing Revenue | ||||
| (Cinnabar Commons) VRDO | 0.420% | 6/7/16 LOC | 15,600 | 15,600 |
| San Jose CA Multifamily Housing Revenue | ||||
| (Raintree Apartments) VRDO | 0.450% | 6/7/16 LOC | 10,000 | 10,000 |
| 1 San Jose CA Unified School District Santa Clara | ||||
| County GO TOB VRDO | 0.420% | 6/7/16 | 6,000 | 6,000 |
| 1 San Jose CA Unified School District Santa Clara | ||||
| County GO TOB VRDO | 0.460% | 6/7/16 | 7,310 | 7,310 |
| 1 Santa Monica CA Community College District | ||||
| GO TOB VRDO | 0.420% | 6/7/16 | 1,200 | 1,200 |
| Santa Monica-Malibu CA Unified School District | ||||
| GO | 2.000% | 7/1/16 | 3,860 | 3,865 |
| Southern California Public Power Authority | ||||
| Revenue (Magnolia Power Project) VRDO | 0.360% | 6/7/16 LOC | 3,500 | 3,500 |
| Southern California Public Power Authority | ||||
| Revenue VRDO | 0.380% | 6/7/16 LOC | 22,600 | 22,600 |
| 1 Sweetwater CA Unified School District GO | ||||
| TOB VRDO | 0.430% | 6/7/16 (13) | 2,845 | 2,845 |
| Turlock CA Irrigation District Revenue CP | 0.440% | 6/8/16 LOC | 6,000 | 6,000 |
| 1 University of California Revenue TOB VRDO | 0.430% | 6/7/16 | 3,400 | 3,400 |
| 1 University of California Revenue TOB VRDO | 0.430% | 6/7/16 | 3,040 | 3,040 |
| University of California Revenue VRDO | 0.360% | 6/7/16 | 9,000 | 9,000 |
| University of California Revenue VRDO | 0.390% | 6/7/16 | 104,250 | 104,250 |
| West Valley-Mission CA Community College | ||||
| District GO | 5.000% | 8/1/16 (Prere.) | 1,435 | 1,446 |
| Western Municipal Water District Facilities | ||||
| Authority California Water Revenue VRDO | 0.390% | 6/7/16 LOC | 31,775 | 31,775 |
| Westlands CA Water District COP VRDO | 0.410% | 6/7/16 LOC | 20,795 | 20,795 |
| Total Tax-Exempt Municipal Bonds (Cost $3,272,541) | 3,272,541 | |||
24
| California Tax-Exempt Money Market Fund | |
| Amount | |
| ($000) | |
| Other Assets and Liabilities (-1.5%) | |
| Other Assets | |
| Investment in Vanguard | 267 |
| Receivables for Investment Securities Sold | 1,495 |
| Receivables for Accrued Income | 3,071 |
| Receivables for Capital Shares Issued | 9,821 |
| Other Assets | 6,828 |
| Total Other Assets | 21,482 |
| Liabilities | |
| Payables for Investment Securities Purchased | (56,490) |
| Payables for Capital Shares Redeemed | (6,683) |
| Payables for Distributions | (28) |
| Payables to Vanguard | (7,018) |
| Total Liabilities | (70,219) |
| Net Assets (100%) | |
| Applicable to 3,223,033,130 outstanding $.001 par value shares of | |
| beneficial interest (unlimited authorization) | 3,223,804 |
| Net Asset Value Per Share | $1.00 |
| At May 31, 2016, net assets consisted of: | |
| Amount | |
| ($000) | |
| Paid-in Capital | 3,223,669 |
| Undistributed Net Investment Income | 3 |
| Accumulated Net Realized Gains | 132 |
| Net Assets | 3,223,804 |
• See Note A in Notes to Financial Statements.
1 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2016, the aggregate value of these securities was $751,352,000, representing 23.3% of net assets.
2 The average or expected maturity is shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or the possibility of the issue being called.
3 Adjustable-rate security.
A key to abbreviations and other references follows the Statement of Net Assets.
See accompanying Notes, which are an integral part of the Financial Statements.
25
California Tax-Exempt Money Market Fund
Key to Abbreviations
ARS—Auction Rate Security.
BAN—Bond Anticipation Note.
COP—Certificate of Participation.
CP—Commercial Paper.
FR—Floating Rate.
GAN—Grant Anticipation Note.
GO—General Obligation Bond.
PILOT—Payments in Lieu of Taxes.
PUT—Put Option Obligation.
RAN—Revenue Anticipation Note.
TAN—Tax Anticipation Note.
TOB—Tender Option Bond.
TRAN—Tax Revenue Anticipation Note.
VRDO—Variable Rate Demand Obligation.
VRDP—Variable Rate Demand Preferred.
(ETM)—Escrowed to Maturity.
(Prere.)—Prerefunded.
Scheduled principal and interest payments are guaranteed by:
(1) MBIA (Municipal Bond Investors Assurance).
(2) AMBAC (Ambac Assurance Corporation).
(3) FGIC (Financial Guaranty Insurance Company).
(4) AGM (Assured Guaranty Municipal Corporation).
(5) BIGI (Bond Investors Guaranty Insurance).
(6) Connie Lee Inc.
(7) FHA (Federal Housing Authority).
(8) CapMAC (Capital Markets Assurance Corporation).
(9) American Capital Access Financial Guaranty Corporation.
(10) XL Capital Assurance Inc.
(11) CIFG (CDC IXIS Financial Guaranty).
(12) AGC (Assured Guaranty Corporation).
(13) BHAC (Berkshire Hathaway Assurance Corporation).
(14) NPFG (National Public Finance Guarantee Corporation).
(15) BAM (Build America Mutual Assurance Company).
(16) MAC (Municipal Assurance Corporation).
(17) RAA (Radian Asset Assurance Inc.).
The insurance does not guarantee the market value of the municipal bonds.
LOC—Scheduled principal and interest payments are guaranteed by bank letter of credit.
26
California Tax-Exempt Money Market Fund
Statement of Operations
| Six Months Ended | |
| May 31, 2016 | |
| ($000) | |
| Investment Income | |
| Income | |
| Interest | 3,093 |
| Total Income | 3,093 |
| Expenses | |
| The Vanguard Group—Note B | |
| Investment Advisory Services | 361 |
| Management and Administrative | 1,797 |
| Marketing and Distribution | 469 |
| Custodian Fees | 19 |
| Shareholders’ Reports | 20 |
| Trustees’ Fees and Expenses | 1 |
| Total Expenses | 2,667 |
| Expense Reduction—Note B | (1,001) |
| Net Expenses | 1,666 |
| Net Investment Income | 1,427 |
| Realized Net Gain (Loss) on Investment Securities Sold | 136 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1,563 |
See accompanying Notes, which are an integral part of the Financial Statements.
27
California Tax-Exempt Money Market Fund
Statement of Changes in Net Assets
| Six Months Ended | Year Ended | |
| May 31, | November 30, | |
| 2016 | 2015 | |
| ($000) | ($000) | |
| Increase (Decrease) in Net Assets | ||
| Operations | ||
| Net Investment Income | 1,427 | 346 |
| Realized Net Gain (Loss) | 136 | (6) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 1,563 | 340 |
| Distributions | ||
| Net Investment Income | (1,424) | (346) |
| Realized Capital Gain | — | — |
| Total Distributions | (1,424) | (346) |
| Capital Share Transactions (at $1.00 per share) | ||
| Issued | 1,067,333 | 2,229,455 |
| Issued in Lieu of Cash Distributions | 1,341 | 331 |
| Redeemed | (1,235,633) | (2,424,734) |
| Net Increase (Decrease) from Capital Share Transactions | (166,959) | (194,948) |
| Total Increase (Decrease) | (166,820) | (194,954) |
| Net Assets | ||
| Beginning of Period | 3,390,624 | 3,585,578 |
| End of Period1 | 3,223,804 | 3,390,624 |
| 1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of $3,000 and $0. | ||
See accompanying Notes, which are an integral part of the Financial Statements.
28
California Tax-Exempt Money Market Fund
Financial Highlights
| Six Months | ||||||
| Ended | ||||||
| For a Share Outstanding | May 31, | Year Ended November 30, | ||||
| Throughout Each Period | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Net Asset Value, Beginning of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Investment Operations | ||||||
| Net Investment Income | .0004 | .0001 | .0001 | .0001 | .0003 | .001 |
| Net Realized and Unrealized Gain (Loss) | ||||||
| on Investments | — | — | — | — | — | — |
| Total from Investment Operations | .0004 | .0001 | .0001 | .0001 | .0003 | .001 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.0004) | (.0001) | (.0001) | (.0001) | (.0003) | (.001) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (.0004) | (.0001) | (.0001) | (.0001) | (.0003) | (.001) |
| Net Asset Value, End of Period | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 | $1.00 |
| Total Return1 | 0.04% | 0.01% | 0.01% | 0.01% | 0.03% | 0.07% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $3,224 | $3,391 | $3,586 | $3,872 | $3,813 | $4,131 |
| Ratio of Expenses to | ||||||
| Average Net Assets2 | 0.10% | 0.06% | 0.07% | 0.11% | 0.15% | 0.16% |
| Ratio of Net Investment Income to | ||||||
| Average Net Assets | 0.09% | 0.01% | 0.01% | 0.01% | 0.03% | 0.07% |
| The expense ratio and net investment income ratio for the current period have been annualized. 1 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. 2 The ratio of total expenses to average net assets before an expense reduction was 0.16%, 0.16%, 0.16%, 0.16%, 0.16%, and 0.17%. See Note B in Notes to Financial Statements. | ||||||
See accompanying Notes, which are an integral part of the Financial Statements.
29
California Tax-Exempt Money Market Fund
Notes to Financial Statements
Vanguard California Tax-Exempt Money Market Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund invests in debt instruments of municipal issuers whose ability to meet their obligations may be affected by economic and political developments in the state.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Securities are valued at amortized cost, which approximates market value.
2. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (November 30, 2012–2015), and for the period ended May 31, 2016, and has concluded that no provision for federal income tax is required in the fund’s financial statements.
3. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month.
4. Credit Facility: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $3.1 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.
The fund had no borrowings outstanding at May 31, 2016, or at any time during the period then ended.
5. Other: Interest income is accrued daily. Premiums and discounts on debt securities purchased are amortized and accreted, respectively, to interest income over the lives of the respective securities. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. Vanguard does not require reimbursement in the current period for certain costs of operations (such as deferred compensation/benefits and risk/insurance costs); the fund’s liability for these costs of operations is included in Payables to Vanguard on the Statement of Net Assets.
30
California Tax-Exempt Money Market Fund
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At May 31, 2016, the fund had contributed to Vanguard capital in the amount of $267,000, representing 0.01% of the fund’s net assets and 0.11% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
Vanguard and the board of trustees have agreed to temporarily limit certain net operating expenses in excess of the fund’s daily yield in order to maintain a zero or positive yield for the fund. Vanguard and the board of trustees may terminate the temporary expense limitation at any time. For the period ended May 31, 2016, Vanguard’s expenses were reduced by $1,001,000 (an effective annual rate of 0.06% of the fund’s average net assets); the fund is not obligated to repay this amount to Vanguard.
C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).
At May 31, 2016, 100% of the market value of the fund’s investments was determined using amortized cost, in accordance with rules under the Investment Company Act of 1940. Amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active market, securities valued at amortized cost are considered to be valued using Level 2 inputs.
D. Management has determined that no material events or transactions occurred subsequent to May 31, 2016, that would require recognition or disclosure in these financial statements.
31
California Intermediate-Term Tax-Exempt Fund
Fund Profile
As of May 31, 2016
| Share-Class Characteristics | ||
| Investor | Admiral | |
| Shares | Shares | |
| Ticker Symbol | VCAIX | VCADX |
| Expense Ratio1 | 0.20% | 0.12% |
| 30-Day SEC Yield | 1.25% | 1.33% |
| Financial Attributes | |||
| Barclays | |||
| Muni | Barclays | ||
| CA IT | Municipal | ||
| Bond | Bond | ||
| Fund | Index | Index | |
| Number of Bonds | 2,625 | 1,663 | 48,863 |
| Yield to Maturity | |||
| (before expenses) | 1.5% | 1.3% | 1.8% |
| Average Coupon | 4.4% | 4.8% | 4.8% |
| Average Duration | 5.0 years | 4.9 years | 5.8 years |
| Average Stated | |||
| Maturity | 9.2 years | 7.4 years | 13.0 years |
| Short-Term | |||
| Reserves | 3.0% | — | — |
| Volatility Measures | ||
| Barclays Muni | Barclays | |
| CA IT | Municipal | |
| Bond Index | Bond Index | |
| R-Squared | 0.93 | 0.97 |
| Beta | 1.05 | 0.92 |
| These measures show the degree and timing of the fund’s fluctuations compared with the indexes over 36 months. | ||
| Distribution by Stated Maturity | |
| (% of portfolio) | |
| Under 1 Year | 4.6% |
| 1 - 3 Years | 10.3 |
| 3 - 5 Years | 13.3 |
| 5 - 10 Years | 26.7 |
| 10 - 20 Years | 44.5 |
| 20 - 30 Years | 0.6 |
| Distribution by Credit Quality (% of portfolio) | |
| AAA | 6.6% |
| AA | 73.3 |
| A | 12.9 |
| BBB | 4.8 |
| BB | 0.3 |
| B | 0.3 |
| Not Rated | 1.8 |
Credit-quality ratings are obtained from Moody's and S&P, and the higher rating for each issue is shown. "Not Rated" is used to classify securities for which a rating is not available. Not rated securities include a fund's investment in Vanguard Market Liquidity Fund or Vanguard Municipal Cash Management Fund, each of which invests in high-quality money market instruments and may serve as a cash management vehicle for the Vanguard funds, trusts, and accounts. For more information about these ratings, see the Glossary entry for Credit Quality.
1 The expense ratios shown are from the prospectus dated March 29, 2016, and represent estimated costs for the current fiscal year. For the six months ended May 31, 2016, the annualized expense ratios were 0.20% for Investor Shares and 0.12% for Admiral Shares.
32
California Intermediate-Term Tax-Exempt Fund
Investment Focus
33
California Intermediate-Term Tax-Exempt Fund
Performance Summary
All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
| Fiscal-Year Total Returns (%): November 30, 2005, Through May 31, 2016 | ||||
| Barclays Muni | ||||
| CA IT | ||||
| Investor Shares | Bond Index | |||
| Fiscal Year | Income Returns | Capital Returns | Total Returns | Total Returns |
| 2006 | 4.12% | 1.28% | 5.40% | 5.07% |
| 2007 | 3.99 | -1.53 | 2.46 | 3.84 |
| 2008 | 3.79 | -6.50 | -2.71 | 1.84 |
| 2009 | 4.19 | 6.37 | 10.56 | 9.03 |
| 2010 | 3.79 | 0.64 | 4.43 | 6.89 |
| 2011 | 3.88 | 2.29 | 6.17 | 6.79 |
| 2012 | 3.52 | 6.62 | 10.14 | 9.08 |
| 2013 | 3.12 | -5.03 | -1.91 | -1.15 |
| 2014 | 3.23 | 4.06 | 7.29 | 6.12 |
| 2015 | 2.85 | 0.08 | 2.93 | 2.85 |
| 2016 | 1.34 | 1.78 | 3.12 | 2.53 |
| Note: For 2016, performance data reflect the six months ended May 31, 2016. | ||||
Average Annual Total Returns: Periods Ended March 31, 2016
This table presents returns through the latest calendar quarter—rather than through the end of the fiscal period.
Securities and Exchange Commission rules require that we provide this information.
| Ten Years | ||||||
| Inception Date | One Year | Five Years | Income | Capital | Total | |
| Investor Shares | 3/4/1994 | 4.08% | 5.54% | 3.61% | 0.94% | 4.55% |
| Admiral Shares | 11/12/2001 | 4.17 | 5.63 | 3.69 | 0.94 | 4.63 |
See Financial Highlights for dividend and capital gains information.
34
California Intermediate-Term Tax-Exempt Fund
Financial Statements (unaudited)
Statement of Net Assets
As of May 31, 2016
The fund reports a complete list of its holdings in regulatory filings four times in each fiscal year, at the quarter-ends. For the second and fourth fiscal quarters, the lists appear in the fund’s semiannual and annual reports to shareholders. For the first and third fiscal quarters, the fund files the lists with the Securities and Exchange Commission on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website at sec.gov. Forms N-Q may also be reviewed and copied at the SEC’s Public Reference Room (see the back cover of this report for further information).
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Tax-Exempt Municipal Bonds (100.9%) | ||||
| California (100.6%) | ||||
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Episcopal Senior | ||||
| Communities) | 5.000% | 7/1/23 | 700 | 817 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Episcopal Senior | ||||
| Communities) | 5.000% | 7/1/24 | 1,195 | 1,388 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Episcopal Senior | ||||
| Communities) | 6.000% | 7/1/31 | 2,750 | 3,173 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Episcopal Senior | ||||
| Communities) | 5.000% | 7/1/32 | 1,060 | 1,192 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Eskaton Properties Inc. | ||||
| Obligated Group) | 3.000% | 11/15/16 | 1,220 | 1,229 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Eskaton Properties Inc. | ||||
| Obligated Group) | 5.000% | 11/15/35 | 3,250 | 3,543 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Jackson Laboratory) | 5.000% | 7/1/20 | 850 | 967 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Jackson Laboratory) | 5.000% | 7/1/22 | 555 | 655 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Jackson Laboratory) | 5.000% | 7/1/23 | 1,000 | 1,192 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Jackson Laboratory) | 5.000% | 7/1/24 | 1,265 | 1,495 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Odd Fellows Home) | 5.000% | 4/1/32 | 7,250 | 8,582 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/21 | 1,000 | 1,190 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.250% | 8/1/23 | 1,000 | 1,184 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/24 | 960 | 1,130 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/25 | 950 | 1,113 |
35
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/26 | 2,490 | 2,900 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/28 | 900 | 1,039 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 6.000% | 8/1/30 | 18,120 | 22,133 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/31 | 1,000 | 1,196 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/32 | 1,000 | 1,192 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/34 | 1,780 | 2,110 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/21 | 275 | 325 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/22 | 355 | 426 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/23 | 375 | 457 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/24 | 400 | 493 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/25 | 510 | 624 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/26 | 685 | 829 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/28 | 1,165 | 1,396 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/29 | 1,000 | 1,195 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/30 | 1,425 | 1,693 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/31 | 500 | 592 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Windemere Ranch | ||||
| Infrastructure Financing Program) | 5.000% | 9/2/32 | 525 | 619 |
| Alameda CA Community Improvement | ||||
| Commission Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 9/1/27 (15) | 750 | 909 |
| Alameda CA Community Improvement | ||||
| Commission Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 9/1/28 (15) | 1,000 | 1,207 |
| Alameda CA Community Improvement | ||||
| Commission Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 9/1/30 (15) | 1,680 | 2,019 |
36
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Alameda CA Community Improvement | ||||
| Commission Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 9/1/31 (15) | 1,640 | 1,964 |
| Alameda CA Community Improvement | ||||
| Commission Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 9/1/32 (15) | 3,000 | 3,578 |
| Alameda CA Community Improvement | ||||
| Commission Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 9/1/33 (15) | 2,375 | 2,825 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 0.000% | 10/1/16 (ETM) | 4,655 | 4,645 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.250% | 10/1/17 (Prere.) | 2,000 | 2,122 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.400% | 10/1/17 (Prere.) | 3,805 | 4,045 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 0.000% | 10/1/18 (2) | 300 | 290 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 0.000% | 10/1/19 (2) | 14,290 | 13,560 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 0.000% | 10/1/20 (2) | 14,065 | 13,050 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 4.000% | 10/1/21 | 1,485 | 1,678 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 4.000% | 3/1/22 | 5,500 | 6,364 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/22 | 2,190 | 2,665 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/22 | 1,855 | 2,232 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 4.000% | 10/1/23 | 1,145 | 1,318 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/23 | 2,160 | 2,672 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/24 | 1,160 | 1,433 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/25 | 1,260 | 1,574 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 0.000% | 10/1/29 (2) | 30,240 | 18,469 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 0.000% | 10/1/30 (2) | 9,110 | 5,298 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/34 | 11,000 | 13,235 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/35 | 9,700 | 11,613 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/36 | 6,000 | 7,165 |
| Alameda County CA Joint Powers Authority | ||||
| Lease Revenue | 5.000% | 12/1/32 | 7,000 | 8,521 |
| Alameda County CA Joint Powers Authority | ||||
| Lease Revenue | 5.000% | 12/1/33 | 8,415 | 10,211 |
| Alameda County CA Joint Powers Authority | ||||
| Lease Revenue | 5.000% | 12/1/34 | 4,640 | 5,627 |
| Alameda County CA Unified School District GO | 5.000% | 8/1/34 | 2,890 | 3,540 |
37
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Alum Rock CA Union Elementary School | ||||
| District GO | 5.000% | 8/1/22 (15) | 500 | 608 |
| Alum Rock CA Union Elementary School | ||||
| District GO | 5.000% | 8/1/23 (15) | 800 | 989 |
| Alum Rock CA Union Elementary School | ||||
| District GO | 5.000% | 8/1/24 (15) | 1,000 | 1,251 |
| Alum Rock CA Union Elementary School | ||||
| District GO | 5.000% | 8/1/25 (15) | 1,000 | 1,267 |
| Alvord CA Unified School District GO | 5.900% | 2/1/21 (14) | 2,230 | 2,674 |
| Alvord CA Unified School District GO | 5.900% | 2/1/24 (4) | 3,865 | 4,657 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 4/1/17 (Prere.) | 2,765 | 2,867 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 4/1/17 (Prere.) | 2,910 | 3,017 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 4/1/17 (Prere.) | 3,235 | 3,354 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 4/1/17 (Prere.) | 3,405 | 3,531 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 10/1/21 (14) | 1,660 | 1,719 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 10/1/22 (14) | 1,750 | 1,809 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 10/1/24 (14) | 1,940 | 2,004 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.000% | 10/1/25 (14) | 2,045 | 2,112 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 5.250% | 10/1/30 | 5,585 | 6,527 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 4.000% | 10/1/31 | 12,000 | 13,151 |
| Bakersfield CA Wastewater Revenue | 5.000% | 9/15/17 (Prere.) | 7,600 | 8,029 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/17 (Prere.) | 3,055 | 3,167 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/17 (Prere.) | 3,000 | 3,110 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/18 | 2,610 | 2,708 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.500% | 4/1/18 (Prere.) | 3,875 | 4,213 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/19 (Prere.) | 75 | 83 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.250% | 4/1/19 (Prere.) | 11,355 | 12,715 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/25 | 6,250 | 7,521 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/28 | 5,000 | 6,052 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/28 | 5,000 | 5,992 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/29 | 7,000 | 8,378 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/29 | 8,000 | 9,653 |
38
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/30 | 16,700 | 20,056 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 4.000% | 4/1/31 | 4,000 | 4,486 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/31 | 16,125 | 19,316 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/31 | 7,645 | 9,162 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.219% | 8/1/17 | 27,550 | 27,594 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.450% | 8/1/17 | 12,500 | 12,567 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.500% | 4/2/18 | 14,275 | 14,390 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.875% | 4/1/19 | 4,500 | 4,588 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.875% | 4/1/20 | 25,000 | 25,459 |
| 1 Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.100% | 4/1/21 | 20,500 | 20,368 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 2.000% | 4/1/21 | 34,000 | 35,007 |
| 1 Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.300% | 5/1/23 | 19,000 | 18,789 |
| 1 Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.300% | 5/1/23 | 4,350 | 4,302 |
| 1 Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.500% | 4/1/24 | 6,100 | 6,064 |
| Brea CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | ||||
| (Redevelopment Project AB) | 5.000% | 8/1/21 | 5,500 | 6,515 |
| Brea CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | ||||
| (Redevelopment Project AB) | 5.000% | 8/1/24 | 5,110 | 6,209 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Revenue | 5.000% | 9/2/24 (4) | 1,000 | 1,240 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Revenue | 5.000% | 9/2/25 (4) | 1,430 | 1,767 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Revenue | 5.000% | 9/2/26 (4) | 2,000 | 2,451 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Revenue | 5.000% | 9/2/27 (4) | 2,375 | 2,892 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Revenue | 5.000% | 9/2/29 (4) | 1,240 | 1,496 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Revenue | 5.000% | 9/2/30 (4) | 750 | 902 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Revenue | 5.000% | 9/2/32 (4) | 3,790 | 3,918 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Water Revenue | 5.000% | 7/1/23 | 400 | 497 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Water Revenue | 5.000% | 7/1/24 | 500 | 632 |
| Brentwood CA Infrastructure Financing | ||||
| Authority Water Revenue | 5.000% | 7/1/25 | 500 | 625 |
39
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Brentwood CA Infrastructure Financing Authority | ||||
| Water Revenue | 4.000% | 7/1/30 | 1,700 | 1,891 |
| Brentwood CA Infrastructure Financing Authority | ||||
| Water Revenue | 4.000% | 7/1/31 | 1,980 | 2,193 |
| Brentwood CA Infrastructure Financing Authority | ||||
| Water Revenue | 4.000% | 7/1/32 | 2,085 | 2,298 |
| Brentwood CA Infrastructure Financing Authority | ||||
| Water Revenue | 4.000% | 7/1/33 | 2,165 | 2,378 |
| Brentwood CA Infrastructure Financing Authority | ||||
| Water Revenue | 4.000% | 7/1/34 | 2,210 | 2,431 |
| Burbank CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 12/1/20 (15) | 1,610 | 1,879 |
| Burbank CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 12/1/21 (15) | 1,255 | 1,499 |
| California County CA Tobacco Securitization | ||||
| Agency Revenue | 5.250% | 6/1/21 | 9,650 | 9,843 |
| California County CA Tobacco Securitization | ||||
| Agency Revenue | 5.000% | 6/1/22 | 1,000 | 1,168 |
| California County CA Tobacco Securitization | ||||
| Agency Revenue | 5.000% | 6/1/23 | 2,400 | 2,850 |
| California County CA Tobacco Securitization | ||||
| Agency Revenue | 5.000% | 6/1/24 | 3,840 | 4,618 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/17 | 9,600 | 9,987 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/17 | 25,000 | 26,007 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 4.000% | 5/1/18 | 1,380 | 1,466 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/18 (Prere.) | 28,585 | 30,932 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/18 (Prere.) | 2,720 | 2,943 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/18 (Prere.) | 10,485 | 11,346 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/18 | 18,385 | 19,870 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/18 | 1,810 | 1,956 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/19 | 19,590 | 21,923 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/19 | 1,215 | 1,360 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/20 (Prere.) | 6,715 | 7,747 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/20 (Prere.) | 3,100 | 3,576 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/20 | 18,250 | 21,054 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/20 | 23,890 | 27,561 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/21 | 1,900 | 2,191 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/21 | 11,415 | 12,325 |
40
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/21 | 15,000 | 17,792 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/21 | 6,500 | 7,710 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/21 | 20,000 | 21,594 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/22 | 4,110 | 4,730 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/22 (4) | 1,565 | 1,688 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/22 | 4,190 | 4,519 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/22 | 31,560 | 38,290 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/22 | 5,395 | 5,819 |
| California Department of Water Resources | ||||
| Power Supply Revenue | 5.000% | 5/1/22 (4) | 1,000 | 1,079 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 6/1/18 (Prere.) | 4,905 | 5,325 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 6/1/18 (Prere.) | 8,280 | 8,989 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/19 | 4,350 | 4,966 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/19 (Prere.) | 7,960 | 9,080 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/20 | 1,250 | 1,469 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.250% | 12/1/20 (Prere.) | 2,905 | 3,439 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.250% | 12/1/20 (Prere.) | 3,355 | 3,971 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.250% | 12/1/20 (Prere.) | 3,455 | 4,090 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.250% | 12/1/20 (Prere.) | 1,850 | 2,190 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/21 | 5,645 | 6,811 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/22 | 6,000 | 7,404 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/23 | 10,000 | 12,586 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/24 | 95 | 103 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/24 | 9,500 | 12,143 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/26 | 285 | 309 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/26 | 1,950 | 2,475 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/27 | 840 | 958 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/27 | 4,060 | 5,125 |
41
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.250% | 12/1/27 | 995 | 1,177 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/28 | 3,350 | 3,984 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.250% | 12/1/28 | 1,150 | 1,369 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/29 | 8,255 | 10,074 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/29 | 3,530 | 4,184 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.250% | 12/1/29 | 1,185 | 1,399 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/30 | 2,720 | 3,206 |
| California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/31 | 3,910 | 4,598 |
| 1 California Department of Water Resources Water | ||||
| System Revenue (Central Valley Project) PUT | 0.700% | 12/1/17 | 17,000 | 16,942 |
| California Economic Recovery GO | 5.000% | 7/1/16 (Prere.) | 16,280 | 16,341 |
| California Economic Recovery GO | 5.000% | 7/1/18 (ETM) | 23,110 | 25,167 |
| California Economic Recovery GO | 5.000% | 7/1/18 (ETM) | 6,660 | 7,253 |
| 2 California Economic Recovery GO | 5.000% | 7/1/19 (Prere.) | 43,745 | 49,272 |
| California Economic Recovery GO | 5.000% | 7/1/19 (ETM) | 32,330 | 36,415 |
| California Economic Recovery GO | 5.250% | 7/1/19 (Prere.) | 28,845 | 32,709 |
| California Economic Recovery GO | 5.250% | 7/1/19 (Prere.) | 16,540 | 18,755 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/19 | 1,085 | 1,174 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/20 | 1,040 | 1,153 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/21 | 800 | 906 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/22 | 1,190 | 1,374 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/23 | 1,800 | 2,113 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/24 | 1,900 | 2,260 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/25 | 1,035 | 1,241 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 5.000% | 1/1/26 | 1,000 | 1,297 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 5.000% | 1/1/27 | 700 | 898 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 5.000% | 1/1/30 | 1,750 | 2,199 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 5.000% | 1/1/31 | 1,875 | 2,345 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 5.000% | 1/1/32 | 2,000 | 2,489 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/33 | 3,590 | 4,040 |
| California Educational Facilities Authority | ||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/34 | 3,350 | 3,758 |
42
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Educational Facilities Authority | ||||
| Revenue (College of Arts & Crafts) | 6.875% | 6/1/16 | 400 | 400 |
| California Educational Facilities Authority | ||||
| Revenue (College of Arts) | 5.000% | 6/1/20 | 790 | 869 |
| California Educational Facilities Authority | ||||
| Revenue (College of Arts) | 5.000% | 6/1/23 | 1,195 | 1,348 |
| California Educational Facilities Authority | ||||
| Revenue (College of Arts) | 5.000% | 6/1/24 | 380 | 429 |
| California Educational Facilities Authority | ||||
| Revenue (College of Arts) | 5.250% | 6/1/30 | 1,125 | 1,249 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 4.000% | 10/1/18 | 270 | 290 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 4.000% | 10/1/19 | 200 | 221 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 5.000% | 10/1/20 | 290 | 339 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 5.000% | 10/1/21 | 145 | 174 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 5.000% | 10/1/22 | 125 | 154 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 5.000% | 10/1/23 | 130 | 163 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 5.000% | 10/1/24 | 340 | 435 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 5.000% | 10/1/26 | 260 | 333 |
| California Educational Facilities Authority | ||||
| Revenue (Occidental College) | 5.000% | 10/1/27 | 250 | 318 |
| California Educational Facilities Authority | ||||
| Revenue (Santa Clara University) | 5.000% | 4/1/31 | 1,000 | 1,233 |
| California Educational Facilities Authority | ||||
| Revenue (Santa Clara University) | 5.000% | 4/1/32 | 1,000 | 1,227 |
| California Educational Facilities Authority | ||||
| Revenue (Santa Clara University) | 5.000% | 4/1/33 | 1,545 | 1,891 |
| California Educational Facilities Authority | ||||
| Revenue (Santa Clara University) | 5.000% | 4/1/34 | 2,625 | 3,198 |
| California Educational Facilities Authority | ||||
| Revenue (Santa Clara University) | 5.000% | 4/1/35 | 3,100 | 3,760 |
| California Educational Facilities Authority | ||||
| Revenue (University of Southern California) | 5.000% | 10/1/25 | 5,000 | 6,492 |
| California Educational Facilities Authority | ||||
| Revenue (University of Southern California) | 4.500% | 10/1/33 | 6,115 | 6,416 |
| 3 California Educational Facilities Authority Revenue | ||||
| (University of Southern California) TOB VRDO | 0.440% | 6/7/16 | 614 | 614 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/20 | 1,770 | 2,046 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/21 | 2,100 | 2,478 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/22 | 2,130 | 2,563 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/23 | 1,870 | 2,286 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/24 | 2,500 | 3,101 |
43
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/25 | 2,315 | 2,903 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/31 | 1,005 | 1,236 |
| California GO | 4.000% | 9/1/16 | 15,000 | 15,132 |
| California GO | 5.000% | 9/1/16 (Prere.) | 12,120 | 12,256 |
| California GO | 5.000% | 10/1/16 (Prere.) | 12,500 | 12,687 |
| California GO | 5.000% | 10/1/16 | 11,875 | 12,054 |
| California GO | 5.000% | 10/1/16 (Prere.) | 14,800 | 15,021 |
| California GO | 5.000% | 10/1/16 | 8,000 | 8,120 |
| California GO | 4.500% | 12/1/16 (Prere.) | 1,110 | 1,132 |
| California GO | 5.000% | 12/1/16 | 1,200 | 1,227 |
| California GO | 5.000% | 4/1/17 | 11,000 | 11,400 |
| California GO | 6.000% | 4/1/17 (2) | 680 | 711 |
| 1 California GO | 1.150% | 5/1/17 | 1,000 | 1,002 |
| California GO | 4.000% | 9/1/17 | 1,375 | 1,433 |
| California GO | 5.250% | 2/1/18 (14) | 8,000 | 8,595 |
| California GO | 6.000% | 2/1/18 (2) | 6,240 | 6,786 |
| California GO | 5.000% | 3/1/18 | 1,850 | 1,986 |
| California GO | 5.500% | 4/1/18 | 29,250 | 31,763 |
| 1 California GO | 1.300% | 5/1/18 | 9,230 | 9,286 |
| California GO | 5.000% | 8/1/18 | 1,895 | 1,950 |
| California GO | 5.000% | 8/1/18 | 1,065 | 1,161 |
| California GO | 5.000% | 9/1/18 | 5,200 | 5,684 |
| California GO | 5.000% | 10/1/18 | 14,095 | 15,452 |
| California GO | 5.000% | 10/1/18 | 20,000 | 21,925 |
| California GO | 2.000% | 11/1/18 | 16,545 | 17,006 |
| California GO | 5.000% | 2/1/19 | 4,715 | 5,221 |
| California GO | 5.500% | 4/1/19 | 11,245 | 12,675 |
| California GO | 5.000% | 8/1/19 | 35,445 | 39,906 |
| California GO | 5.000% | 8/1/19 | 25,000 | 28,147 |
| California GO | 4.000% | 9/1/19 | 2,100 | 2,304 |
| California GO | 5.000% | 9/1/19 | 5,000 | 5,645 |
| California GO | 5.000% | 9/1/19 | 9,000 | 10,161 |
| California GO | 5.000% | 10/1/19 | 21,000 | 23,773 |
| California GO | 2.000% | 11/1/19 | 6,695 | 6,926 |
| California GO | 5.000% | 2/1/20 | 2,950 | 3,369 |
| California GO | 5.250% | 2/1/20 | 7,500 | 8,633 |
| California GO | 5.000% | 3/1/20 | 19,535 | 22,368 |
| California GO | 5.000% | 8/1/20 | 14,890 | 15,324 |
| California GO | 5.000% | 9/1/20 | 9,970 | 11,586 |
| California GO | 5.000% | 9/1/20 | 3,690 | 4,288 |
| California GO | 5.000% | 9/1/20 | 6,000 | 6,972 |
| California GO | 5.000% | 10/1/20 | 5,555 | 6,472 |
| California GO | 5.250% | 10/1/20 | 4,500 | 5,141 |
| California GO | 5.000% | 11/1/20 | 47,795 | 55,824 |
| California GO | 5.000% | 2/1/21 | 2,000 | 2,346 |
| California GO | 5.000% | 3/1/21 | 2,250 | 2,584 |
| California GO | 5.000% | 4/1/21 | 2,240 | 2,639 |
| California GO | 5.500% | 4/1/21 | 2,000 | 2,256 |
| California GO | 5.000% | 9/1/21 | 13,700 | 16,302 |
| California GO | 5.000% | 9/1/21 | 1,310 | 1,559 |
| California GO | 5.000% | 9/1/21 | 9,800 | 11,661 |
| California GO | 5.000% | 10/1/21 | 2,575 | 3,069 |
44
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California GO | 5.000% | 11/1/21 | 2,820 | 3,367 |
| California GO | 5.000% | 2/1/22 | 8,125 | 9,753 |
| California GO | 5.000% | 2/1/22 | 1,185 | 1,422 |
| California GO | 5.000% | 4/1/22 | 4,550 | 5,484 |
| California GO | 5.000% | 9/1/22 | 12,710 | 15,464 |
| California GO | 5.000% | 9/1/22 | 10,000 | 12,167 |
| California GO | 5.250% | 9/1/22 | 17,400 | 21,430 |
| California GO | 5.000% | 10/1/22 | 15,000 | 18,284 |
| California GO | 5.000% | 11/1/22 | 31,890 | 38,944 |
| California GO | 5.000% | 2/1/23 | 15,000 | 18,376 |
| California GO | 5.000% | 2/1/23 | 15,880 | 19,197 |
| California GO | 5.000% | 9/1/23 | 7,000 | 8,584 |
| California GO | 5.000% | 9/1/23 | 10,000 | 12,406 |
| California GO | 5.250% | 9/1/23 | 2,455 | 2,966 |
| California GO | 5.000% | 10/1/23 | 12,450 | 15,472 |
| California GO | 5.000% | 10/1/23 | 3,135 | 3,896 |
| California GO | 5.000% | 11/1/23 | 20,000 | 24,898 |
| California GO | 5.000% | 12/1/23 | 7,500 | 7,982 |
| California GO | 5.000% | 2/1/24 | 11,000 | 13,525 |
| California GO | 5.000% | 3/1/24 | 3,000 | 3,437 |
| California GO | 5.000% | 8/1/24 | 10,100 | 10,390 |
| California GO | 5.000% | 8/1/24 | 1,000 | 1,259 |
| California GO | 5.000% | 9/1/24 | 10,000 | 12,268 |
| California GO | 5.000% | 9/1/24 | 1,000 | 1,261 |
| California GO | 5.000% | 10/1/24 | 11,420 | 12,291 |
| California GO | 5.000% | 10/1/24 | 13,440 | 13,647 |
| California GO | 5.000% | 10/1/24 | 8,725 | 11,021 |
| California GO | 5.000% | 11/1/24 | 5,000 | 5,855 |
| California GO | 5.000% | 12/1/24 | 15,500 | 19,439 |
| California GO | 5.000% | 12/1/24 | 2,000 | 2,128 |
| California GO | 5.000% | 2/1/25 | 12,940 | 15,579 |
| California GO | 5.125% | 3/1/25 | 2,100 | 2,258 |
| California GO | 5.000% | 8/1/25 | 18,525 | 19,053 |
| California GO | 5.000% | 9/1/25 | 2,110 | 2,623 |
| California GO | 5.000% | 9/1/25 | 2,185 | 2,670 |
| California GO | 5.000% | 9/1/25 | 1,500 | 1,640 |
| California GO | 5.000% | 9/1/25 | 4,000 | 5,102 |
| California GO | 5.000% | 10/1/25 | 8,490 | 9,138 |
| California GO | 5.000% | 10/1/25 | 13,865 | 17,046 |
| California GO | 5.000% | 11/1/25 | 1,500 | 1,754 |
| California GO | 5.000% | 11/1/25 | 14,125 | 17,671 |
| California GO | 5.000% | 12/1/25 | 21,015 | 22,346 |
| California GO | 5.000% | 3/1/26 | 5,000 | 5,718 |
| California GO | 5.000% | 3/1/26 | 4,540 | 4,540 |
| California GO | 5.000% | 4/1/26 | 27,480 | 29,545 |
| California GO | 5.000% | 9/1/26 | 2,500 | 2,730 |
| California GO | 5.000% | 9/1/26 | 5,500 | 7,085 |
| California GO | 5.000% | 11/1/26 | 7,500 | 8,765 |
| California GO | 5.000% | 4/1/27 | 24,285 | 26,096 |
| California GO | 5.750% | 4/1/27 | 31,455 | 35,694 |
| California GO | 4.500% | 8/1/27 | 8,145 | 8,345 |
| California GO | 5.000% | 9/1/27 | 5,500 | 6,002 |
| California GO | 5.000% | 10/1/27 | 13,875 | 16,894 |
| California GO | 5.250% | 10/1/27 | 5,000 | 6,017 |
45
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California GO | 5.750% | 4/1/28 | 30,000 | 34,061 |
| California GO | 4.500% | 8/1/28 (11) | 3,375 | 3,459 |
| California GO | 5.000% | 8/1/28 | 6,415 | 8,003 |
| California GO | 4.000% | 9/1/28 | 7,000 | 8,176 |
| California GO | 5.000% | 9/1/28 | 17,500 | 19,090 |
| California GO | 5.250% | 9/1/28 | 6,000 | 7,189 |
| California GO | 5.250% | 2/1/29 | 2,790 | 3,348 |
| California GO | 5.000% | 9/1/29 | 16,000 | 17,450 |
| California GO | 5.000% | 9/1/29 | 6,000 | 7,103 |
| California GO | 5.000% | 10/1/29 | 10,245 | 11,003 |
| California GO | 4.500% | 12/1/29 | 2,525 | 2,980 |
| California GO | 5.250% | 3/1/30 | 20,000 | 23,097 |
| California GO | 5.000% | 5/1/30 | 13,870 | 17,035 |
| California GO | 4.500% | 8/1/30 | 3,100 | 3,175 |
| California GO | 5.000% | 9/1/30 | 10,180 | 11,079 |
| California GO | 5.000% | 9/1/30 | 10,000 | 11,810 |
| California GO | 5.000% | 9/1/30 | 9,100 | 11,276 |
| California GO | 5.250% | 9/1/30 | 5,000 | 6,230 |
| California GO | 5.000% | 10/1/30 | 5,800 | 7,186 |
| California GO | 5.000% | 12/1/30 | 3,760 | 4,622 |
| California GO | 5.750% | 4/1/31 | 37,030 | 42,076 |
| California GO | 5.000% | 5/1/31 | 13,000 | 15,917 |
| California GO | 5.000% | 8/1/31 | 10,000 | 12,216 |
| California GO | 5.250% | 8/1/31 | 5,755 | 7,265 |
| California GO | 5.000% | 9/1/31 | 7,000 | 8,256 |
| California GO | 5.000% | 10/1/31 | 5,500 | 6,794 |
| California GO | 5.000% | 12/1/31 | 6,000 | 7,389 |
| California GO | 5.000% | 12/1/31 | 6,500 | 7,938 |
| California GO | 5.000% | 2/1/32 | 2,540 | 2,997 |
| California GO | 5.000% | 8/1/32 | 5,000 | 6,142 |
| California GO | 5.250% | 8/1/32 | 2,000 | 2,515 |
| California GO | 5.000% | 10/1/32 | 23,500 | 28,927 |
| California GO | 4.500% | 12/1/32 (14) | 1,210 | 1,234 |
| California GO | 5.000% | 12/1/32 | 7,000 | 7,443 |
| California GO | 5.000% | 2/1/33 | 1,750 | 2,061 |
| California GO | 5.000% | 2/1/33 | 1,760 | 2,112 |
| California GO | 5.000% | 3/1/33 | 3,395 | 4,127 |
| California GO | 6.000% | 3/1/33 | 12,000 | 14,222 |
| California GO | 5.125% | 4/1/33 | 6,550 | 7,040 |
| California GO | 6.500% | 4/1/33 | 22,715 | 26,279 |
| California GO | 5.000% | 8/1/33 | 1,500 | 1,834 |
| California GO | 5.000% | 9/1/33 | 3,830 | 4,659 |
| California GO | 5.000% | 12/1/33 | 3,120 | 3,786 |
| California GO | 5.000% | 10/1/34 | 9,200 | 11,245 |
| California GO | 5.000% | 8/1/35 | 10,000 | 12,164 |
| California GO | 5.000% | 9/1/35 | 9,805 | 12,119 |
| California GO | 5.000% | 9/1/36 | 10,675 | 13,151 |
| California GO PUT | 4.000% | 12/1/16 | 22,925 | 22,925 |
| 1 California GO PUT | 1.135% | 12/3/18 | 1,000 | 1,003 |
| California GO PUT | 3.000% | 12/1/19 | 52,000 | 54,991 |
| California GO PUT | 4.000% | 12/1/21 | 21,905 | 24,685 |
| 3 California GO TOB VRDO | 0.440% | 6/7/16 (4) | 5,700 | 5,700 |
| California GO VRDO | 0.250% | 6/1/16 LOC | 5,435 | 5,435 |
| California GO VRDO | 0.260% | 6/1/16 LOC | 7,800 | 7,800 |
46
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California GO VRDO | 0.260% | 6/1/16 LOC | 8,700 | 8,700 |
| California GO VRDO | 0.270% | 6/1/16 LOC | 5,450 | 5,450 |
| California Health Facilities Financing Authority | ||||
| Revenue (Adventist Health System/West) | 5.000% | 3/1/25 | 5,700 | 6,890 |
| California Health Facilities Financing Authority | ||||
| Revenue (Adventist Health System/West) | 5.000% | 3/1/26 | 2,000 | 2,400 |
| California Health Facilities Financing Authority | ||||
| Revenue (Adventist Health System/West) | 4.000% | 3/1/33 | 23,205 | 24,876 |
| California Health Facilities Financing Authority | ||||
| Revenue (California-Nevada Methodist Homes) | 5.000% | 7/1/16 (Prere.) | 1,740 | 1,746 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.000% | 3/1/19 | 215 | 239 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.000% | 7/1/19 | 1,000 | 1,126 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.000% | 3/1/20 | 4,750 | 5,447 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.000% | 3/1/21 | 3,810 | 4,496 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.250% | 3/1/22 | 8,000 | 9,495 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.500% | 7/1/25 | 5,300 | 5,771 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.625% | 7/1/25 | 19,820 | 22,567 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.250% | 3/1/27 | 7,500 | 8,798 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 6.000% | 7/1/29 | 4,260 | 4,880 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) VRDO | 0.450% | 6/7/16 LOC | 14,000 | 14,000 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 8/15/16 | 1,640 | 1,655 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 8/15/19 | 1,000 | 1,127 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 8/15/20 | 2,100 | 2,433 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 8/15/21 | 2,000 | 2,379 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 11/15/26 | 6,905 | 8,765 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 11/15/29 | 7,250 | 9,055 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 11/15/31 | 1,600 | 1,985 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Los Angeles) | 5.000% | 11/15/22 | 3,500 | 4,068 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Los Angeles) | 5.000% | 11/15/23 | 1,370 | 1,587 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Los Angeles) | 5.000% | 11/15/24 | 2,910 | 3,366 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Los Angeles) | 5.000% | 11/15/29 | 2,890 | 3,276 |
47
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| 1 California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Los Angeles) | ||||
| PUT | 2.200% | 7/1/17 | 5,255 | 5,290 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Orange County) | 6.250% | 11/1/29 | 5,000 | 5,878 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Orange County) | 5.000% | 11/1/31 | 2,000 | 2,285 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 4.000% | 6/1/16 | 735 | 735 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/19 | 300 | 334 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/21 | 450 | 527 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/22 | 875 | 1,045 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/23 | 760 | 910 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/25 | 310 | 370 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/26 | 805 | 947 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/19 | 800 | 910 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 4.000% | 11/15/20 | 750 | 844 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/21 | 1,400 | 1,678 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/23 | 1,500 | 1,815 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/24 | 1,700 | 2,042 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/25 | 2,250 | 2,682 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/32 | 12,500 | 14,661 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/35 | 3,500 | 4,084 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 3.000% | 2/1/19 | 1,235 | 1,306 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 4.000% | 2/1/20 | 1,715 | 1,900 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/28 | 3,000 | 3,604 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/29 | 1,000 | 1,197 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/30 | 2,205 | 2,621 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/31 | 5,930 | 7,018 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/32 | 2,610 | 3,078 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/33 | 3,295 | 3,863 |
48
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/34 | 2,390 | 2,796 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/35 | 4,020 | 4,689 |
| 3 California Health Facilities Financing Authority | ||||
| Revenue (Kaiser Permanente) TOB VRDO | 0.510% | 6/7/16 LOC | 7,435 | 7,435 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 4.000% | 8/15/19 | 500 | 549 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/21 | 800 | 958 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/21 | 470 | 560 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/22 | 500 | 612 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/22 | 350 | 427 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/23 | 300 | 373 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/30 | 1,655 | 2,084 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/31 | 1,300 | 1,630 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/32 | 1,500 | 1,873 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 5.000% | 8/15/33 | 1,610 | 2,000 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) | 4.000% | 8/15/34 | 1,500 | 1,647 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) PUT | 1.450% | 3/15/17 (Prere.) | 80 | 81 |
| 3 California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospital at Stanford) TOB VRDO | 0.440% | 6/7/16 | 1,665 | 1,665 |
| California Health Facilities Financing Authority | ||||
| Revenue (Marshall Medical Center) | 5.000% | 11/1/24 | 850 | 1,050 |
| California Health Facilities Financing Authority | ||||
| Revenue (Marshall Medical Center) | 5.000% | 11/1/25 | 425 | 520 |
| California Health Facilities Financing Authority | ||||
| Revenue (Marshall Medical Center) | 5.000% | 11/1/26 | 775 | 940 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/18 | 1,320 | 1,451 |
49
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 4.000% | 10/1/19 | 1,500 | 1,650 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/19 | 1,000 | 1,135 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 4.000% | 10/1/20 | 1,800 | 2,030 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 4.000% | 10/1/21 | 1,020 | 1,172 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/21 | 1,000 | 1,202 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 4.000% | 10/1/22 | 2,250 | 2,621 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/22 | 2,400 | 2,946 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/24 | 5,000 | 6,025 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/25 | 5,000 | 5,973 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/17 | 380 | 398 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/18 | 335 | 364 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/20 | 300 | 345 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/21 | 465 | 548 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/22 | 175 | 210 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/24 | 370 | 458 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/25 | 500 | 626 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/26 | 750 | 927 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/28 | 880 | 1,067 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/29 | 855 | 1,033 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/31 | 870 | 1,043 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 6.250% | 10/1/18 (Prere.) | 3,030 | 3,417 |
50
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 6.250% | 10/1/18 (Prere.) | 4,000 | 4,511 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/25 | 2,610 | 3,251 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/26 | 2,700 | 3,336 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/28 | 1,840 | 2,246 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/30 | 4,000 | 4,849 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/31 | 5,000 | 6,039 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/33 | 5,000 | 5,993 |
| California Health Facilities Financing Authority | ||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/34 | 5,650 | 6,749 |
| California Health Facilities Financing Authority | ||||
| Revenue (Rady Children’s Hospital) | 5.000% | 8/15/20 | 500 | 573 |
| California Health Facilities Financing Authority | ||||
| Revenue (Rady Children’s Hospital) | 5.500% | 8/15/26 | 6,000 | 7,287 |
| California Health Facilities Financing Authority | ||||
| Revenue (Rady Children’s Hospital) | 5.000% | 8/15/31 | 2,865 | 3,340 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) | 5.000% | 10/1/17 | 2,515 | 2,659 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) | 5.000% | 10/1/18 | 3,000 | 3,286 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) | 5.000% | 11/15/25 | 750 | 884 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) | 5.000% | 11/15/27 | 850 | 992 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) | 5.000% | 11/15/28 | 1,175 | 1,367 |
| California Health Facilities Financing Authority | ||||
| Revenue (Scripps Health) | 5.000% | 11/15/32 | 1,000 | 1,155 |
| California Health Facilities Financing Authority | �� | |||
| Revenue (St. Joseph Health System) | 5.000% | 7/1/29 | 4,970 | 5,961 |
| California Health Facilities Financing Authority | ||||
| Revenue (St. Joseph Health System) | 5.500% | 7/1/29 | 10,000 | 11,389 |
| California Health Facilities Financing Authority | ||||
| Revenue (St. Joseph Health System) | 5.000% | 7/1/33 | 6,250 | 7,414 |
| California Health Facilities Financing Authority | ||||
| Revenue (St. Joseph Health System) PUT | 5.000% | 10/17/17 | 1,250 | 1,323 |
| California Health Facilities Financing Authority | ||||
| Revenue (St. Joseph Health System) PUT | 5.000% | 10/15/20 | 12,500 | 14,420 |
| California Health Facilities Financing Authority | ||||
| Revenue (Stanford Hospital) | 5.000% | 8/15/19 | 2,000 | 2,262 |
| California Health Facilities Financing Authority | ||||
| Revenue (Stanford Hospital) | 4.000% | 8/15/21 | 2,250 | 2,580 |
| California Health Facilities Financing Authority | ||||
| Revenue (Stanford Hospital) | 5.000% | 8/15/23 | 1,830 | 2,216 |
| California Health Facilities Financing Authority | ||||
| Revenue (Stanford Hospital) | 5.250% | 11/15/31 | 2,000 | 2,351 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 8/15/19 | 2,000 | 2,262 |
51
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 8/15/20 | 2,200 | 2,556 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 8/15/21 | 1,275 | 1,522 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/21 | 500 | 603 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 8/15/22 | 1,090 | 1,329 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/22 | 200 | 246 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/23 | 300 | 375 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/24 | 400 | 507 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/25 | 400 | 513 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.500% | 8/15/26 | 4,750 | 5,650 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/26 | 400 | 508 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/27 | 400 | 502 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.000% | 11/15/28 | 500 | 625 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.250% | 8/15/31 | 5,505 | 6,642 |
| California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) | 5.875% | 8/15/31 | 5,000 | 6,031 |
| California Housing Finance Agency Multifamily | ||||
| Housing Revenue | 0.850% | 8/1/16 | 25 | 25 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue | 5.000% | 10/1/22 | 1,400 | 1,718 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue | 5.000% | 10/1/23 | 1,800 | 2,252 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue | 5.000% | 10/1/24 | 1,175 | 1,497 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue | 5.000% | 10/1/27 | 7,765 | 10,023 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue | 5.000% | 10/1/28 | 4,600 | 5,908 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Academy of | ||||
| Motion Picture Arts & Sciences Obligated Group) | 5.000% | 11/1/20 | 1,000 | 1,164 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Academy of | ||||
| Motion Picture Arts & Sciences Obligated Group) | 5.000% | 11/1/21 | 800 | 954 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Academy of | ||||
| Motion Picture Arts & Sciences Obligated Group) | 5.000% | 11/1/29 | 1,500 | 1,840 |
| 3 California Infrastructure & Economic | ||||
| Development Bank Revenue (Bay Area Toll | ||||
| Bridges Seismic Retrofit) TOB VRDO | 0.480% | 6/1/16 (ETM) | 35,455 | 35,455 |
52
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Independent | ||||
| System Operator Corp. Project) | 5.000% | 2/1/34 | 10,000 | 11,781 |
| 1 California Infrastructure & Economic | ||||
| Development Bank Revenue (Index-Museum | ||||
| Art Project) PUT | 2.065% | 8/1/18 | 6,000 | 6,131 |
| 1 California Infrastructure & Economic | ||||
| Development Bank Revenue (J. Paul Getty | ||||
| Trust) PUT | 0.680% | 4/1/18 | 1,500 | 1,491 |
| 1 California Infrastructure & Economic | ||||
| Development Bank Revenue (J. Paul Getty | ||||
| Trust) PUT | 0.680% | 4/2/18 | 22,470 | 22,333 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Los Angeles | ||||
| County Museum of Natural History Foundation) | ||||
| VRDO | 0.260% | 6/1/16 LOC | 4,100 | 4,100 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Pacific Gas & | ||||
| Electric Co.) VRDO | 0.270% | 6/1/16 LOC | 10,265 | 10,265 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Pacific Gas & | ||||
| Electric Co.) VRDO | 0.270% | 6/1/16 LOC | 5,800 | 5,800 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Science Center | ||||
| Phase II Project) | 5.000% | 5/1/18 (14) | 1,785 | 1,792 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Science Center | ||||
| Phase II Project) | 5.000% | 5/1/19 (14) | 1,040 | 1,044 |
| California Infrastructure & Economic | ||||
| Development Bank Revenue (Science Center | ||||
| Phase II Project) | 5.000% | 5/1/21 (14) | 1,145 | 1,149 |
| California Municipal Finance Authority | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) COP | 5.375% | 2/1/29 | 16,610 | 18,423 |
| California Municipal Finance Authority Mobile | ||||
| Home Park Revenue (Caritas Affordable | ||||
| Housing Inc. Projects) | 5.000% | 8/15/21 | 565 | 653 |
| California Municipal Finance Authority Mobile | ||||
| Home Park Revenue (Caritas Affordable | ||||
| Housing Inc. Projects) | 5.000% | 8/15/23 | 400 | 478 |
| California Municipal Finance Authority Mobile | ||||
| Home Park Revenue (Caritas Affordable | ||||
| Housing Inc. Projects) | 5.000% | 8/15/30 | 1,000 | 1,152 |
| California Municipal Finance Authority Multifamily | ||||
| Housing Revenue (Copper Square Apartments) | ||||
| VRDO | 0.410% | 6/7/16 LOC | 750 | 750 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Electric Utility Distribution System) | 5.000% | 10/1/24 | 1,500 | 1,903 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Electric Utility Distribution System) | 5.000% | 10/1/26 | 5,360 | 6,821 |
| 1 California Municipal Finance Authority Revenue | ||||
| (Anaheim Electric Utility Distribution System) | ||||
| PUT | 0.900% | 4/2/18 | 6,000 | 5,971 |
53
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Water System Project Revenue) | 4.000% | 10/1/31 | 3,955 | 4,449 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Water System Project Revenue) | 4.000% | 10/1/32 | 4,220 | 4,726 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Water System Project Revenue) | 4.000% | 10/1/33 | 4,390 | 4,905 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/19 | 1,450 | 1,579 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/20 | 1,760 | 1,960 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/21 | 1,300 | 1,478 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/22 | 1,000 | 1,158 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/23 | 1,285 | 1,511 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/24 | 1,325 | 1,580 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/25 | 1,180 | 1,421 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/20 | 2,005 | 2,256 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/21 | 1,000 | 1,154 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/22 | 1,000 | 1,177 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/23 | 1,000 | 1,193 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/24 | 500 | 606 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/25 | 650 | 797 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/26 | 700 | 851 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/27 | 600 | 723 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/28 | 750 | 898 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/29 | 1,895 | 2,260 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/31 | 3,470 | 4,095 |
54
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/32 | 3,655 | 4,291 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/33 | 3,835 | 4,480 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/34 | 4,035 | 4,690 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/35 | 4,000 | 4,623 |
| California Municipal Finance Authority Revenue | ||||
| (Eisenhower Medical Center) | 5.125% | 7/1/23 | 1,000 | 1,125 |
| 1 California Municipal Finance Authority Revenue | ||||
| (NorthBay Healthcare Group) PUT | 2.500% | 11/1/16 | 5,000 | 5,002 |
| California Municipal Finance Authority Revenue | ||||
| (University of La Verne) | 5.000% | 6/1/16 | 1,905 | 1,905 |
| California Municipal Finance Authority Revenue | ||||
| (University of La Verne) | 4.750% | 6/1/18 | 2,325 | 2,483 |
| California Municipal Finance Authority Revenue | ||||
| (University of La Verne) | 5.000% | 6/1/19 | 2,375 | 2,622 |
| California Pollution Control Financing Authority | ||||
| Revenue (Pacific Gas & Electric Co.) VRDO | 0.330% | 6/1/16 LOC | 11,200 | 11,200 |
| California Pollution Control Financing Authority | ||||
| Revenue (Pacific Gas & Electric Co.) VRDO | 0.350% | 6/1/16 LOC | 1,200 | 1,200 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 10/1/16 | 3,785 | 3,842 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 6/1/18 | 11,625 | 12,573 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 6/1/19 | 12,200 | 13,629 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 6/1/20 | 4,180 | 4,810 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 9/1/20 | 13,000 | 15,072 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 6/1/21 | 7,375 | 8,721 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 10/1/21 | 1,375 | 1,639 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 6/1/22 | 9,425 | 11,390 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 10/1/22 | 1,500 | 1,827 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 10/1/23 | 2,350 | 2,920 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 9/1/24 | 4,250 | 5,350 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 10/1/24 | 1,925 | 2,427 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 6/1/25 | 2,925 | 3,711 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 9/1/31 | 5,000 | 6,076 |
55
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.750% | 10/1/31 | 6,000 | 7,371 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 9/1/32 | 5,000 | 6,059 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.250% | 10/1/32 | 5,000 | 6,203 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.000% | 9/1/33 | 5,000 | 6,038 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 5.250% | 10/1/33 | 3,000 | 3,709 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 4.500% | 9/1/35 | 25,000 | 28,546 |
| California Public Works Board Lease Revenue | ||||
| (Department of General Services) | 6.000% | 4/1/27 | 5,000 | 5,729 |
| California Public Works Board Lease Revenue | ||||
| (Department of State Hospitals) | 5.000% | 6/1/28 | 5,825 | 7,044 |
| California Public Works Board Lease Revenue | ||||
| (Department of State Hospitals) | 5.000% | 6/1/29 | 8,975 | 10,837 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 12/1/24 | 400 | 480 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/25 | 1,500 | 1,810 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.250% | 12/1/25 | 1,550 | 1,879 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/26 | 1,500 | 1,821 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 12/1/27 | 7,000 | 8,367 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/28 | 2,860 | 3,441 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 12/1/28 | 4,980 | 5,960 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/29 | 2,500 | 3,002 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 12/1/29 | 5,000 | 5,971 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/32 | 3,200 | 3,812 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/33 | 1,650 | 1,964 |
| California Public Works Board Lease Revenue | ||||
| (Regents of The University of California) | 5.000% | 6/1/20 (ETM) | 7,670 | 8,865 |
| California Public Works Board Lease Revenue | ||||
| (Regents of The University of California) | 5.000% | 10/1/20 (ETM) | 2,015 | 2,351 |
| California Public Works Board Lease Revenue | ||||
| (Regents of The University of California) | 5.000% | 10/1/21 (ETM) | 1,650 | 1,975 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/16 | 6,395 | 6,515 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/18 | 4,000 | 4,387 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/18 | 1,080 | 1,188 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 1/1/20 | 10,000 | 11,363 |
56
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 4/1/20 | 4,160 | 4,763 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 5/1/20 | 5,850 | 6,715 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.250% | 11/1/20 | 5,000 | 5,758 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/20 | 1,600 | 1,869 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/21 (Prere.) | 5,000 | 6,001 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/21 (ETM) | 5,400 | 6,494 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/21 (Prere.) | 2,645 | 3,175 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/21 | 2,965 | 3,548 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/21 | 1,110 | 1,328 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 5/1/22 | 2,670 | 3,220 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 9/1/22 (Prere.) | 3,000 | 3,670 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 9/1/22 (Prere.) | 3,000 | 3,670 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/22 | 1,500 | 1,830 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 12/1/22 | 1,195 | 1,461 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.375% | 3/1/23 | 9,065 | 10,516 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 4/1/23 | 4,180 | 5,003 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/23 | 1,000 | 1,213 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/24 | 2,000 | 2,451 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/25 | 3,560 | 4,343 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 5/1/28 | 4,250 | 5,272 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 5/1/29 | 1,140 | 1,406 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 5/1/30 | 1,250 | 1,532 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.500% | 11/1/30 | 5,545 | 6,959 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/31 | 1,650 | 1,967 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.500% | 11/1/31 | 7,000 | 8,763 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/32 | 11,465 | 13,633 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.500% | 11/1/33 | 4,670 | 5,850 |
57
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California State University Systemwide Revenue | 5.000% | 5/1/18 (Prere.) | 8,250 | 8,927 |
| California State University Systemwide Revenue | 5.000% | 5/1/18 (Prere.) | 11,225 | 12,147 |
| California State University Systemwide Revenue | 5.000% | 5/1/18 (Prere.) | 12,125 | 13,121 |
| California State University Systemwide Revenue | 5.000% | 5/1/18 (Prere.) | 4,840 | 5,237 |
| California State University Systemwide Revenue | 5.000% | 5/1/18 (Prere.) | 7,410 | 8,019 |
| California State University Systemwide Revenue | 5.000% | 11/1/18 | 2,200 | 2,420 |
| California State University Systemwide Revenue | 5.250% | 5/1/19 (Prere.) | 3,515 | 3,959 |
| California State University Systemwide Revenue | 5.250% | 5/1/19 (Prere.) | 5,000 | 5,631 |
| California State University Systemwide Revenue | 5.000% | 11/1/19 | 2,300 | 2,612 |
| California State University Systemwide Revenue | 5.000% | 11/1/20 | 1,670 | 1,951 |
| California State University Systemwide Revenue | 5.000% | 11/1/22 | 1,500 | 1,840 |
| California State University Systemwide Revenue | 5.000% | 11/1/23 | 3,960 | 4,759 |
| California State University Systemwide Revenue | 5.000% | 11/1/23 | 5,605 | 7,000 |
| California State University Systemwide Revenue | 5.000% | 11/1/23 | 3,705 | 4,627 |
| California State University Systemwide Revenue | 5.000% | 11/1/24 | 2,915 | 3,470 |
| California State University Systemwide Revenue | 5.000% | 11/1/24 | 440 | 474 |
| California State University Systemwide Revenue | 5.000% | 11/1/24 | 4,505 | 5,726 |
| California State University Systemwide Revenue | 5.000% | 11/1/25 | 1,000 | 1,289 |
| California State University Systemwide Revenue | 5.000% | 11/1/25 | 595 | 641 |
| California State University Systemwide Revenue | 5.000% | 11/1/26 | 2,000 | 2,577 |
| California State University Systemwide Revenue | 5.000% | 11/1/26 | 405 | 436 |
| California State University Systemwide Revenue | 5.000% | 11/1/27 | 2,000 | 2,541 |
| California State University Systemwide Revenue | 5.000% | 11/1/27 | 160 | 172 |
| California State University Systemwide Revenue | 5.000% | 11/1/27 | 5,740 | 6,811 |
| California State University Systemwide Revenue | 5.000% | 11/1/28 | 2,610 | 3,298 |
| California State University Systemwide Revenue | 5.000% | 11/1/28 | 5,000 | 6,255 |
| California State University Systemwide Revenue | 4.000% | 11/1/29 | 3,900 | 4,348 |
| California State University Systemwide Revenue | 5.000% | 11/1/29 | 16,585 | 20,927 |
| California State University Systemwide Revenue | 5.000% | 11/1/30 | 2,920 | 3,660 |
| California State University Systemwide Revenue | 5.000% | 11/1/30 (4) | 250 | 270 |
| California State University Systemwide Revenue | 5.000% | 11/1/30 | 2,000 | 2,517 |
| California State University Systemwide Revenue | 5.000% | 11/1/31 | 10,080 | 12,546 |
| California State University Systemwide Revenue | 5.000% | 11/1/31 | 14,000 | 17,532 |
| California State University Systemwide Revenue | 5.000% | 11/1/31 | 8,900 | 11,044 |
| California State University Systemwide Revenue | 5.000% | 11/1/32 | 12,895 | 15,975 |
| California State University Systemwide Revenue | 5.000% | 11/1/32 | 5,000 | 6,236 |
| California State University Systemwide Revenue | 5.000% | 11/1/33 | 5,775 | 7,127 |
| California State University Systemwide Revenue | 5.000% | 11/1/33 | 10,000 | 12,442 |
| California State University Systemwide Revenue | 4.000% | 11/1/34 | 9,875 | 11,132 |
| California State University Systemwide Revenue | 5.000% | 11/1/34 | 5,000 | 6,139 |
| California State University Systemwide Revenue | 4.000% | 11/1/35 | 8,875 | 9,971 |
| California State University Systemwide Revenue | 5.000% | 11/1/35 | 13,205 | 16,208 |
| California State University Systemwide Revenue | 5.000% | 11/1/35 | 5,975 | 7,321 |
| California State University Systemwide Revenue | 5.000% | 11/1/36 | 3,000 | 3,694 |
| California State University Systemwide Revenue | ||||
| PUT | 4.000% | 11/1/21 | 23,465 | 26,396 |
| California State University Systemwide Revenue | ||||
| PUT | 4.000% | 11/1/23 | 8,000 | 9,244 |
| California Statewide Communities Development | ||||
| Authority Health Facility Revenue (Catholic | ||||
| Healthcare West) | 5.500% | 7/1/31 | 6,320 | 6,640 |
| California Statewide Communities Development | ||||
| Authority Pollution Control Revenue (Southern | ||||
| California Edison Co.) PUT | 1.375% | 4/2/18 | 2,500 | 2,517 |
58
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (899 Charleston Project) | 5.000% | 11/1/19 | 725 | 765 |
| California Statewide Communities Development | ||||
| Authority Revenue (899 Charleston Project) | 5.000% | 11/1/24 | 1,000 | 1,102 |
| California Statewide Communities Development | ||||
| Authority Revenue (899 Charleston Project) | 5.000% | 11/1/29 | 1,650 | 1,751 |
| California Statewide Communities Development | ||||
| Authority Revenue (899 Charleston Project) | 5.000% | 11/1/34 | 3,700 | 3,911 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 3.000% | 3/1/17 | 350 | 356 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 3.000% | 3/1/18 | 450 | 466 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 4.000% | 3/1/19 | 500 | 539 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 4.000% | 3/1/20 | 750 | 824 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/22 | 1,500 | 1,786 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/23 | 1,500 | 1,815 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/24 | 1,000 | 1,231 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/25 | 765 | 952 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/26 | 1,500 | 1,889 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/32 | 5,000 | 6,090 |
| California Statewide Communities Development | ||||
| Authority Revenue (American Baptist Homes) | 2.100% | 10/1/19 | 5,455 | 5,458 |
| California Statewide Communities Development | ||||
| Authority Revenue (American Baptist Homes) | 2.400% | 10/1/20 | 1,450 | 1,451 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/18 | 275 | 301 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/19 (4) | 250 | 283 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/20 (4) | 210 | 244 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/21 (4) | 200 | 237 |
59
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/22 (4) | 200 | 241 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/23 (4) | 400 | 490 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/24 (4) | 500 | 622 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/27 (4) | 1,660 | 2,028 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/28 (4) | 900 | 1,094 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/34 (4) | 2,500 | 2,976 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 3.000% | 11/1/16 | 750 | 758 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 3.000% | 11/1/17 | 750 | 774 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 4.000% | 11/1/18 | 245 | 264 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 4.000% | 11/1/19 | 375 | 413 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/20 | 100 | 116 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 4.000% | 11/1/21 | 345 | 394 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/22 | 375 | 458 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/23 | 275 | 343 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/24 | 300 | 376 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/25 | 355 | 441 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/26 | 325 | 400 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/27 | 750 | 916 |
60
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/28 | 1,310 | 1,594 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/29 | 700 | 850 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/30 | 1,010 | 1,217 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.250% | 11/1/30 | 11,500 | 13,182 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/31 | 1,000 | 1,200 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/32 | 1,690 | 2,022 |
| California Statewide Communities Development | ||||
| Authority Revenue (Daughters of Charity | ||||
| Health System - St. Francis Medical Center) | 5.250% | 7/1/22 | 4,130 | 4,135 |
| California Statewide Communities Development | ||||
| Authority Revenue (Daughters of Charity Health | ||||
| System - St. Francis Medical Center) | 5.500% | 7/1/25 | 1,535 | 1,537 |
| California Statewide Communities Development | ||||
| Authority Revenue (Daughters of Charity Health | ||||
| System) | 5.500% | 7/1/24 | 10,865 | 10,879 |
| California Statewide Communities Development | ||||
| Authority Revenue (Enloe Medical Center) | 5.000% | 8/15/30 | 2,500 | 3,110 |
| California Statewide Communities Development | ||||
| Authority Revenue (Enloe Medical Center) | 5.000% | 8/15/31 | 4,020 | 4,979 |
| California Statewide Communities Development | ||||
| Authority Revenue (Enloe Medical Center) | 5.000% | 8/15/33 | 4,000 | 4,896 |
| California Statewide Communities Development | ||||
| Authority Revenue (Enloe Medical Center) | 5.000% | 8/15/34 | 4,795 | 5,845 |
| California Statewide Communities Development | ||||
| Authority Revenue (Enloe Medical Center) | 5.000% | 8/15/35 | 1,000 | 1,214 |
| California Statewide Communities Development | ||||
| Authority Revenue (Episcopal Communities & | ||||
| Services) | 5.000% | 5/15/18 | 610 | 656 |
| California Statewide Communities Development | ||||
| Authority Revenue (Episcopal Communities & | ||||
| Services) | 5.000% | 5/15/27 | 500 | 576 |
| California Statewide Communities Development | ||||
| Authority Revenue (Episcopal Communities & | ||||
| Services) | 5.000% | 5/15/32 | 680 | 771 |
| California Statewide Communities Development | ||||
| Authority Revenue (Eskaton Properties Inc. | ||||
| Obligated Group) | 5.250% | 11/15/34 | 4,350 | 4,802 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/18 | 500 | 543 |
61
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/18 | 1,035 | 1,039 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/19 | 500 | 560 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/20 | 325 | 373 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/21 | 275 | 323 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/22 | 250 | 299 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/23 | 650 | 789 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/24 | 750 | 925 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/25 | 800 | 971 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/26 | 1,000 | 1,204 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/27 | 2,000 | 2,389 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/28 | 3,000 | 3,566 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/29 | 3,000 | 3,555 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/30 | 4,565 | 5,392 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/31 | 4,000 | 4,708 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/32 | 3,790 | 4,446 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/33 | 2,500 | 2,925 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/34 | 2,000 | 2,334 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) | 5.000% | 4/1/19 | 3,190 | 3,561 |
62
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) | 5.250% | 8/1/31 | 10,000 | 10,069 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) PUT | 5.000% | 5/1/17 | 6,000 | 6,234 |
| California Statewide Communities Development | ||||
| Authority Revenue (Lodi Memorial Hospital) | 5.000% | 12/1/22 | 8,000 | 8,470 |
| California Statewide Communities Development | ||||
| Authority Revenue (Lodi Memorial Hospital) | 5.000% | 12/1/27 | 8,975 | 9,492 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.000% | 12/1/26 | 1,735 | 2,048 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.000% | 12/1/27 | 4,100 | 4,823 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.000% | 12/1/29 | 4,155 | 4,787 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.250% | 12/1/29 | 4,000 | 4,555 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.000% | 12/1/31 | 2,695 | 3,068 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.000% | 12/1/36 | 5,000 | 5,619 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 3.000% | 8/15/17 | 1,250 | 1,285 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/20 | 1,400 | 1,619 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/20 (14) | 2,440 | 2,462 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/21 | 1,000 | 1,186 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/22 | 750 | 908 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/23 | 500 | 618 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/23 (14) | 5,285 | 5,334 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/24 | 760 | 951 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/25 | 1,000 | 1,270 |
63
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/26 | 1,000 | 1,284 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/27 | 1,000 | 1,279 |
| California Statewide Communities Development | ||||
| Authority Revenue (Rady Children’s Hospital - | ||||
| San Diego) | 5.000% | 8/15/28 | 750 | 962 |
| California Statewide Communities Development | ||||
| Authority Revenue (St. Joseph Health System) | 4.500% | 7/1/18 (4) | 5,780 | 5,976 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.000% | 8/15/19 | 530 | 599 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.000% | 8/15/20 | 500 | 583 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.000% | 8/15/22 | 1,050 | 1,285 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.250% | 8/15/31 | 7,500 | 8,768 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.000% | 8/15/32 | 11,820 | 13,985 |
| 3 California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) TOB VRDO | 0.440% | 6/7/16 | 35,963 | 35,963 |
| California Statewide Communities Development | ||||
| Authority Senior Living Health Facility Revenue | ||||
| (Los Angeles Jewish Home for the Aging) | 2.500% | 8/1/20 | 1,170 | 1,177 |
| California Statewide Communities Development | ||||
| Authority Senior Living Health Facility Revenue | ||||
| (Los Angeles Jewish Home for the Aging) | 3.000% | 8/1/21 | 2,600 | 2,619 |
| California Statewide Communities Development | ||||
| Authority Senior Living Revenue (Southern | ||||
| California Presbyterian Homes) | 7.000% | 11/15/29 | 2,000 | 2,332 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 4.000% | 5/15/17 | 4,675 | 4,818 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/17 (ETM) | 1,800 | 1,875 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/18 | 765 | 825 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/18 | 1,000 | 1,078 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.500% | 5/15/18 (Prere.) | 5,000 | 5,474 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/19 | 500 | 556 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/20 | 500 | 570 |
64
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/21 | 825 | 961 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/22 | 2,515 | 2,985 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/23 | 1,250 | 1,510 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/24 | 1,000 | 1,226 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/25 | 1,000 | 1,242 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/26 | 1,710 | 2,144 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/27 | 1,000 | 1,245 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/28 | 2,500 | 3,089 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/29 | 2,000 | 2,463 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.125% | 5/15/31 | 7,000 | 8,088 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/33 | 2,625 | 3,174 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/34 | 1,750 | 2,104 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/35 | 2,000 | 2,391 |
| Capistrano CA Unified School District Special | ||||
| Tax Revenue | 5.000% | 9/1/17 | 1,500 | 1,575 |
| Capistrano CA Unified School District Special | ||||
| Tax Revenue | 5.000% | 9/1/18 (15) | 2,000 | 2,167 |
| Capistrano CA Unified School District Special | ||||
| Tax Revenue | 5.000% | 9/1/19 (15) | 2,080 | 2,313 |
| Capistrano CA Unified School District Special | ||||
| Tax Revenue | 5.000% | 9/1/21 (15) | 5,225 | 5,816 |
| Capistrano CA Unified School District Special | ||||
| Tax Revenue | 4.000% | 9/1/22 (15) | 6,020 | 6,435 |
| Capistrano CA Unified School District Special | ||||
| Tax Revenue | 4.000% | 9/1/24 (15) | 6,860 | 7,284 |
| Carson CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Carson Merged & Amended | ||||
| Project Area) | 5.000% | 10/1/22 | 1,130 | 1,351 |
65
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Carson CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Carson Merged & | ||||
| Amended Project Area) | 5.000% | 10/1/23 | 1,170 | 1,422 |
| Carson CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Redevelopment | ||||
| Project Area No. 1) | 5.000% | 10/1/19 (4) | 800 | 898 |
| Carson CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Redevelopment | ||||
| Project Area No. 1) | 5.000% | 10/1/20 (4) | 785 | 898 |
| Carson CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Redevelopment | ||||
| Project Area No. 1) | 5.000% | 10/1/21 (4) | 850 | 993 |
| Carson CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Redevelopment | ||||
| Project Area No. 1) | 5.000% | 10/1/22 (4) | 600 | 714 |
| Castro Valley CA Unified School District GO | 3.000% | 8/1/16 | 1,000 | 1,004 |
| Castro Valley CA Unified School District GO | 4.000% | 8/1/17 | 500 | 520 |
| Castro Valley CA Unified School District GO | 4.000% | 8/1/18 | 400 | 428 |
| 3 Central Basin Municipal Water District | ||||
| California COP TOB VRDO | 0.440% | 6/7/16 (4) | 7,500 | 7,500 |
| Central CA Unified School District GO | 5.500% | 8/1/29 (12) | 3,000 | 3,433 |
| Central Valley CA Financing Authority | ||||
| Cogeneration Project Revenue (Carson | ||||
| Ice-Gen Project) | 5.000% | 7/1/17 | 1,000 | 1,046 |
| Central Valley CA Financing Authority | ||||
| Cogeneration Project Revenue (Carson | ||||
| Ice-Gen Project) | 5.000% | 7/1/19 | 765 | 857 |
| Central Valley CA Financing Authority | ||||
| Cogeneration Project Revenue (Carson | ||||
| Ice-Gen Project) | 5.250% | 7/1/20 | 1,025 | 1,191 |
| Cerritos CA Community College District GO | 0.000% | 8/1/20 | 500 | 468 |
| Cerritos CA Community College District GO | 0.000% | 8/1/22 | 500 | 445 |
| Cerritos CA Community College District GO | 0.000% | 8/1/23 | 500 | 430 |
| Cerritos CA Community College District GO | 4.000% | 8/1/30 | 3,480 | 3,913 |
| Cerritos CA Community College District GO | 4.000% | 8/1/32 | 2,260 | 2,518 |
| Chabot-Las Positas CA Community College | ||||
| District GO | 5.000% | 8/1/23 | 2,225 | 2,759 |
| Chabot-Las Positas CA Community College | ||||
| District GO | 5.000% | 8/1/27 | 2,500 | 3,007 |
| Chabot-Las Positas CA Community College | ||||
| District GO | 5.000% | 8/1/30 | 7,500 | 8,898 |
| Chabot-Las Positas CA Community College | ||||
| District GO | 5.000% | 8/1/31 | 7,500 | 8,869 |
| Chabot-Las Positas CA Community College | ||||
| District GO | 5.000% | 8/1/32 | 13,000 | 15,335 |
| Chaffey CA Community College District GO | 5.000% | 6/1/32 | 5,000 | 6,116 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/20 | 400 | 373 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/21 | 500 | 455 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/22 | 500 | 439 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/23 | 600 | 506 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/24 | 500 | 407 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/25 | 655 | 506 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/26 | 1,430 | 1,051 |
| Chaffey CA Union High School District GO | 0.000% | 8/1/28 | 2,000 | 1,328 |
66
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Chino CA Public Financing Authority Special | ||||
| Tax Revenue | 5.000% | 9/1/24 (4) | 675 | 824 |
| Chino CA Public Financing Authority Special | ||||
| Tax Revenue | 5.000% | 9/1/25 (4) | 1,000 | 1,230 |
| Chino CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/20 (15) | 625 | 724 |
| Chino CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/27 (15) | 1,195 | 1,455 |
| Chino CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/30 (15) | 1,170 | 1,406 |
| Chula Vista CA Industrial Development Revenue | ||||
| (San Diego Gas & Electric Co.) | 1.650% | 7/1/18 | 6,245 | 6,250 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 2.000% | 9/1/16 | 670 | 672 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 4.000% | 9/1/17 | 700 | 726 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.000% | 9/1/18 | 1,165 | 1,268 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.000% | 9/1/19 | 2,265 | 2,543 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.000% | 9/1/20 | 1,185 | 1,363 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.000% | 9/1/21 | 2,500 | 2,938 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.000% | 9/1/23 | 2,615 | 3,116 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.250% | 9/1/24 | 3,225 | 3,870 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.500% | 9/1/25 | 3,495 | 4,227 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.500% | 9/1/26 | 3,685 | 4,428 |
| Chula Vista CA Municipal Financing Authority | ||||
| Special Tax Revenue | 5.500% | 9/1/27 | 970 | 1,159 |
| Citrus CA Community College District GO | 0.000% | 8/1/33 | 1,000 | 809 |
| Citrus CA Community College District GO | 0.000% | 8/1/35 | 3,150 | 2,509 |
| Clovis CA Unified School District GO | 0.000% | 8/1/18 (14) | 3,645 | 3,557 |
| Coast CA Community College District GO | 0.000% | 8/1/33 | 8,000 | 4,171 |
| Coast CA Community College District GO | 5.000% | 8/1/33 | 3,000 | 3,705 |
| Colton CA Joint Unified School District GO | 4.000% | 8/1/16 (4) | 1,000 | 1,006 |
| Colton CA Joint Unified School District GO | 5.000% | 8/1/23 (4) | 765 | 941 |
| Colton CA Joint Unified School District GO | 5.000% | 8/1/25 (4) | 1,000 | 1,219 |
| Colton CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 2.000% | 8/1/16 | 1,240 | 1,243 |
| Colton CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 4.000% | 8/1/18 | 1,000 | 1,059 |
| Colton CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 8/1/19 | 1,040 | 1,154 |
| Colton CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 8/1/20 (15) | 1,230 | 1,402 |
| Colton CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 8/1/22 (15) | 1,215 | 1,438 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/21 (4) | 2,000 | 1,820 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/22 (4) | 2,750 | 2,436 |
67
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/23 (4) | 2,500 | 2,150 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/24 (4) | 3,000 | 2,509 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/25 (4) | 3,380 | 2,677 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/26 (4) | 3,500 | 2,624 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/27 (4) | 3,000 | 2,116 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/28 (4) | 2,290 | 1,520 |
| Contra Costa CA Community College District GO | 5.000% | 8/1/24 | 4,140 | 5,067 |
| Contra Costa CA Community College District GO | 5.000% | 8/1/32 | 3,000 | 3,652 |
| Contra Costa CA Community College District GO | 5.000% | 8/1/33 | 4,000 | 4,857 |
| Contra Costa CA Municipal Water District | ||||
| Revenue | 3.000% | 10/1/19 | 10,000 | 10,659 |
| Contra Costa CA Transportation Authority Sales | ||||
| Tax Revenue | 5.000% | 3/1/20 (Prere.) | 1,080 | 1,239 |
| Contra Costa CA Transportation Authority Sales | ||||
| Tax Revenue | 5.000% | 3/1/32 | 1,600 | 1,908 |
| Contra Costa CA Transportation Authority Sales | ||||
| Tax Revenue | 5.000% | 3/1/33 | 1,800 | 2,141 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 5.000% | 6/1/17 (Prere.) | 5,195 | 5,422 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 3.000% | 6/1/20 | 1,000 | 1,072 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 5.000% | 6/1/20 | 800 | 920 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 5.000% | 6/1/21 | 700 | 826 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 5.000% | 6/1/22 | 600 | 719 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 5.000% | 6/1/22 (14) | 10,105 | 10,511 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 5.000% | 6/1/23 | 1,130 | 1,378 |
| Contra Costa County CA Public Financing | ||||
| Authority Lease Revenue | 5.000% | 6/1/23 | 2,335 | 2,848 |
| Corona-Norco CA School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/21 | 500 | 588 |
| Corona-Norco CA School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/23 | 500 | 610 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/20 (12) | 1,825 | 1,704 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/21 (12) | 2,010 | 1,836 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/22 (12) | 1,700 | 1,513 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/23 (12) | 1,000 | 866 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/25 (12) | 1,325 | 1,077 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/26 (12) | 1,530 | 1,195 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/27 (12) | 1,500 | 1,117 |
| Corona-Norco CA Unified School District GO | 0.000% | 8/1/28 (12) | 1,290 | 919 |
| Corona-Norco CA Unified School District Special | ||||
| Tax Revenue (Community Facilities District | ||||
| No. 98-1) | 5.000% | 9/1/23 | 1,145 | 1,377 |
| Corona-Norco CA Unified School District Special | ||||
| Tax Revenue (Community Facilities District | ||||
| No. 98-1) | 5.000% | 9/1/24 | 1,325 | 1,608 |
| Corona-Norco CA Unified School District Special | ||||
| Tax Revenue (Community Facilities District | ||||
| No. 98-1) | 5.000% | 9/1/25 | 2,525 | 3,044 |
68
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Corona-Norco CA Unified School District Special | ||||
| Tax Revenue (Community Facilities District | ||||
| No. 98-1) | 5.000% | 9/1/27 | 1,000 | 1,189 |
| Corona-Norco CA Unified School District Special | ||||
| Tax Revenue (Community Facilities District | ||||
| No. 98-1) | 5.000% | 9/1/28 | 1,590 | 1,883 |
| Culver City CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.375% | 11/1/16 (4) | 740 | 743 |
| Cupertino CA Union School District GO | 5.000% | 8/1/25 | 3,235 | 4,066 |
| Cupertino CA Union School District GO | 5.000% | 8/1/32 | 480 | 604 |
| Cupertino CA Union School District GO | 5.000% | 8/1/33 | 545 | 683 |
| Cupertino CA Union School District GO | 5.000% | 8/1/34 | 245 | 306 |
| Del Mar CA Race Track Authority Revenue | 4.000% | 10/1/21 | 1,380 | 1,502 |
| Del Mar CA Race Track Authority Revenue | 5.000% | 10/1/24 | 1,585 | 1,820 |
| Del Mar CA Race Track Authority Revenue | 5.000% | 10/1/26 | 1,745 | 1,978 |
| Del Mar CA Race Track Authority Revenue | 5.000% | 10/1/27 | 1,835 | 2,072 |
| Del Mar CA Race Track Authority Revenue | 5.000% | 10/1/29 | 1,010 | 1,136 |
| Del Mar CA Race Track Authority Revenue | 5.000% | 10/1/35 | 1,665 | 1,865 |
| Desert CA Community College District GO | 4.000% | 8/1/19 | 1,500 | 1,644 |
| Desert CA Community College District GO | 5.000% | 8/1/20 | 1,760 | 2,043 |
| 3 Desert CA Community College District GO | ||||
| TOB VRDO | 0.450% | 6/7/16 | 6,500 | 6,500 |
| East Bay CA Municipal Utility District Waste | ||||
| Water System Revenue | 5.000% | 6/1/35 | 8,455 | 10,519 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/25 | 6,265 | 8,079 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/28 | 5,300 | 7,024 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/30 | 2,005 | 2,317 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/31 | 16,020 | 18,482 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/31 | 3,975 | 4,945 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/32 | 4,015 | 4,976 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/33 | 4,280 | 5,285 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/34 | 1,855 | 2,282 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/35 | 3,050 | 3,738 |
| East Bay CA Regional Park District Revenue | 5.000% | 9/1/28 | 4,415 | 4,956 |
| East Side CA Union High School District Santa | ||||
| Clara County GO | 5.000% | 8/1/29 | 6,000 | 7,321 |
| Eastern California Municipal Water District | ||||
| Water & Sewer | 4.000% | 7/1/18 | 2,000 | 2,132 |
| Eastern California Municipal Water District | ||||
| Water & Sewer | 5.000% | 7/1/19 | 2,030 | 2,279 |
| Eastern California Municipal Water District | ||||
| Water & Sewer | 5.000% | 7/1/20 | 2,500 | 2,889 |
| Eastern California Municipal Water District | ||||
| Water & Sewer | 5.000% | 7/1/21 | 1,500 | 1,780 |
69
| California Intermediate-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/22 | 1,000 | 1,216 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/23 | 1,500 | 1,860 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/24 | 1,000 | 1,262 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/25 | 1,000 | 1,281 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/26 | 1,000 | 1,294 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/27 | 2,445 | 3,134 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/28 | 1,875 | 2,388 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/29 | 3,620 | 4,592 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/31 | 3,000 | 3,771 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/32 | 2,500 | 3,130 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/33 | 3,750 | 4,676 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/34 | 4,720 | 5,861 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/35 | 4,970 | 6,161 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer | 5.000% | 7/1/36 | 2,310 | 2,852 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer COP | 5.000% | 7/1/26 | 5,245 | 5,672 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer COP | 5.000% | 7/1/27 | 6,220 | 6,726 | |
| Eastern California Municipal Water District | |||||
| Water & Sewer COP | 5.000% | 7/1/28 | 1,000 | 1,081 | |
| Eastern California Municipal Water District | |||||
| Water & Wastewater Revenue VRDO | 0.310% | 6/1/16 | 11,300 | 11,300 | |
| 1,3 | Eaton Vance California Municipal Bond Fund II | 1.250% | 7/1/19 | 8,300 | 8,298 |
| El Camino CA Community College District GO | 2.000% | 8/1/17 | 1,750 | 1,778 | |
| El Camino CA Community College District GO | 2.000% | 8/1/17 | 2,200 | 2,235 | |
| El Camino CA Community College District GO | 0.000% | 8/1/29 | 8,065 | 5,486 | |
| El Camino CA Community College District GO | 0.000% | 8/1/32 | 10,000 | 6,091 | |
| El Camino CA Community College District GO | 0.000% | 8/1/33 | 3,500 | 2,054 | |
| El Camino CA Community College District GO | 5.000% | 8/1/34 | 1,100 | 1,372 | |
| El Camino CA Community College District GO | 5.000% | 8/1/35 | 1,230 | 1,527 | |
| El Camino CA Community College District GO | 5.000% | 8/1/36 | 1,400 | 1,729 | |
| El Dorado CA Irrigation District Revenue | 4.500% | 3/1/19 (4) | 2,000 | 2,187 | |
| El Dorado CA Irrigation District Revenue | 4.750% | 3/1/20 (4) | 1,500 | 1,696 | |
| El Dorado CA Irrigation District Revenue | 5.000% | 3/1/21 (4) | 2,280 | 2,668 | |
| El Dorado CA Irrigation District Revenue | 5.000% | 3/1/28 (4) | 1,500 | 1,819 | |
| El Dorado CA Irrigation District Revenue | 5.000% | 3/1/34 (4) | 5,460 | 6,488 | |
| El Dorado County CA Community Facilities | |||||
| District No. 92-1 Special Tax Revenue | 5.000% | 9/1/21 | 2,000 | 2,325 | |
| Elk Grove CA Finance Authority Special Tax | |||||
| Revenue | 3.000% | 9/1/18 | 425 | 443 | |
70
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Elk Grove CA Finance Authority Special Tax | ||||
| Revenue | 4.000% | 9/1/19 | 655 | 712 |
| Elk Grove CA Finance Authority Special Tax | ||||
| Revenue | 4.000% | 9/1/20 | 560 | 618 |
| Elk Grove CA Finance Authority Special Tax | ||||
| Revenue | 5.000% | 9/1/21 | 450 | 526 |
| Elk Grove CA Finance Authority Special Tax | ||||
| Revenue | 5.000% | 9/1/22 | 425 | 504 |
| Elk Grove CA Finance Authority Special Tax | ||||
| Revenue | 5.000% | 9/1/33 (15) | 2,000 | 2,367 |
| Elk Grove CA Finance Authority Special Tax | ||||
| Revenue | 5.000% | 9/1/34 (15) | 3,970 | 4,670 |
| Elk Grove CA Finance Authority Special Tax | ||||
| Revenue | 5.000% | 9/1/35 (15) | 3,735 | 4,371 |
| Encinitas CA Community Facilities District No. 1 | ||||
| Special Tax Revenue | 5.000% | 9/1/28 | 1,000 | 1,161 |
| Encinitas CA Community Facilities District No. 1 | ||||
| Special Tax Revenue | 5.000% | 9/1/29 | 800 | 926 |
| Escondido CA GO | 5.000% | 9/1/22 | 755 | 920 |
| Escondido CA GO | 5.000% | 9/1/23 | 2,030 | 2,525 |
| Escondido CA GO | 5.000% | 9/1/24 | 825 | 1,044 |
| Escondido CA GO | 5.000% | 9/1/25 | 1,000 | 1,282 |
| Evergreen CA School District Election GO | 3.000% | 8/1/17 | 1,500 | 1,541 |
| Evergreen CA School District Election GO | 4.000% | 8/1/34 | 1,070 | 1,197 |
| Evergreen CA School District Election GO | 4.000% | 8/1/36 | 1,870 | 2,071 |
| Fontana CA Community Facilities District No. 22 | ||||
| Special Tax Revenue (Sierra Hills South) | 5.000% | 9/1/26 | 1,725 | 2,052 |
| Fontana CA Community Facilities District No. 22 | ||||
| Special Tax Revenue (Sierra Hills South) | 5.000% | 9/1/27 | 1,810 | 2,151 |
| Fontana CA Community Facilities District No. 22 | ||||
| Special Tax Revenue (Sierra Hills South) | 5.000% | 9/1/28 | 1,900 | 2,247 |
| Fontana CA Public Financing Authority Tax | ||||
| Allocation Revenue | 5.000% | 10/1/21 (2) | 3,335 | 3,347 |
| Fontana CA Public Financing Authority Tax | ||||
| Allocation Revenue | 5.000% | 10/1/23 (2) | 2,875 | 2,886 |
| Fontana CA Public Financing Authority Tax | ||||
| Allocation Revenue | 5.000% | 10/1/24 (2) | 3,575 | 3,588 |
| Fontana CA Public Financing Authority Tax | ||||
| Allocation Revenue | 5.000% | 10/1/26 (2) | 4,480 | 4,496 |
| Fontana CA Unified School District GO | 5.250% | 8/1/18 (Prere.) | 4,350 | 4,775 |
| Foothill-De Anza CA Community College | ||||
| District GO | 4.500% | 8/1/17 (Prere.) | 2,600 | 2,718 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/20 (4) | 3,930 | 3,673 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/21 (4) | 4,115 | 3,752 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/22 (4) | 12,255 | 10,847 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/23 (4) | 16,430 | 14,036 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/24 (4) | 1,880 | 1,555 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/25 | 2,130 | 1,701 |
71
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/26 | 3,000 | 2,437 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/27 | 5,000 | 4,106 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/31 (4) | 1,000 | 889 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 6.250% | 1/15/33 | 5,000 | 5,963 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue PUT | 5.000% | 1/15/18 | 505 | 525 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue PUT | 5.000% | 1/15/20 | 22,880 | 24,993 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue PUT | 5.500% | 1/15/23 | 25,000 | 29,669 |
| Fremont CA Unified School District GO | 4.000% | 8/1/17 | 15,075 | 15,660 |
| Fremont CA Unified School District GO | 5.000% | 8/1/18 | 2,325 | 2,540 |
| Fremont CA Unified School District GO | 5.000% | 8/1/19 | 2,400 | 2,713 |
| Fremont CA Unified School District GO | 5.000% | 8/1/20 | 2,275 | 2,650 |
| Fremont CA Unified School District GO | 4.000% | 8/1/29 | 1,070 | 1,210 |
| Fremont CA Unified School District GO | 4.000% | 8/1/30 | 1,415 | 1,591 |
| Fremont CA Unified School District GO | 4.000% | 8/1/31 | 1,790 | 2,020 |
| Fremont CA Unified School District GO | 4.000% | 8/1/32 | 2,195 | 2,445 |
| Fremont CA Unified School District GO | 4.000% | 8/1/33 | 2,630 | 2,920 |
| Fremont CA Unified School District GO | 4.000% | 8/1/34 | 3,105 | 3,459 |
| Fremont CA Union High School District GO | 4.000% | 8/1/17 | 3,750 | 3,897 |
| Fremont CA Union High School District GO | 4.000% | 8/1/32 | 1,000 | 1,124 |
| Fremont CA Union High School District GO | 4.000% | 8/1/34 | 2,085 | 2,324 |
| Fresno CA Sewer Revenue | 5.000% | 9/1/24 (12) | 830 | 905 |
| Fullerton CA Community Facilities District No. 1 | ||||
| Special Tax Revenue (Amerige Heights) | 5.000% | 9/1/26 | 1,000 | 1,170 |
| Fullerton CA Community Facilities District No. 1 | ||||
| Special Tax Revenue (Amerige Heights) | 5.000% | 9/1/32 | 1,600 | 1,835 |
| Gavilan CA Joint Community College District GO | 5.000% | 8/1/32 | 4,200 | 5,179 |
| Gilroy CA School Facilities Finance Authority | ||||
| Revenue | 5.000% | 8/1/33 | 2,400 | 2,870 |
| Glendale CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue (Central | ||||
| Glendale Redevelopment Project) | 4.000% | 12/1/22 (15) | 1,555 | 1,778 |
| Glendale CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue (Central | ||||
| Glendale Redevelopment Project) | 4.000% | 12/1/23 (15) | 2,310 | 2,670 |
| Glendale CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue (Central | ||||
| Glendale Redevelopment Project) | 5.000% | 12/1/24 (15) | 1,400 | 1,739 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/16 | 3,000 | 3,000 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 3.000% | 6/1/17 | 2,000 | 2,046 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/17 | 610 | 636 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 4.000% | 6/1/18 | 4,000 | 4,247 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/19 | 1,500 | 1,673 |
72
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/20 | 1,750 | 2,012 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/21 | 1,000 | 1,181 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 4.550% | 6/1/22 (4) | 470 | 501 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 4.000% | 6/1/31 | 3,700 | 4,048 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/33 | 7,000 | 8,459 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/33 | 2,465 | 2,480 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/34 | 11,000 | 13,214 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 4.000% | 6/1/35 | 1,170 | 1,245 |
| 3 Golden State Tobacco Securitization Corp. | ||||
| California Revenue TOB VRDO | 0.570% | 6/7/16 LOC | 10,705 | 10,705 |
| Grossmont CA Union High School District GO | 5.000% | 8/1/22 | 1,250 | 1,520 |
| Grossmont CA Union High School District GO | 0.000% | 2/1/25 (4) | 1,400 | 1,104 |
| Grossmont CA Union High School District GO | 0.000% | 8/1/26 (4) | 2,040 | 1,501 |
| Grossmont CA Union High School District GO | 0.000% | 8/1/27 (4) | 2,825 | 1,971 |
| Grossmont CA Union High School District GO | 0.000% | 8/1/28 (4) | 2,905 | 1,912 |
| Grossmont CA Union High School District GO | 0.000% | 8/1/28 | 3,210 | 2,270 |
| Grossmont CA Union High School District GO | 0.000% | 8/1/29 | 6,965 | 4,738 |
| Grossmont CA Union High School District GO | 4.000% | 8/1/33 | 10,000 | 11,222 |
| Grossmont-Cuyamaca CA Community College | ||||
| District GO | 5.000% | 8/1/22 (12) | 5,480 | 5,973 |
| Grossmont-Cuyamaca CA Community College | ||||
| District GO | 5.000% | 8/1/23 (12) | 5,000 | 5,440 |
| Grossmont-Cuyamaca CA Community College | ||||
| District GO | 0.000% | 8/1/25 (12) | 14,010 | 11,337 |
| Grossmont-Cuyamaca CA Community College | ||||
| District GO | 0.000% | 8/1/28 (12) | 21,875 | 15,816 |
| Hanford CA Joint Union High School District | ||||
| Revenue | 5.000% | 8/1/26 (4) | 1,420 | 1,783 |
| Hanford CA Joint Union High School District | ||||
| Revenue | 5.000% | 8/1/28 (4) | 2,575 | 3,187 |
| Hanford CA Joint Union High School District | ||||
| Revenue | 5.000% | 8/1/29 (4) | 2,390 | 2,944 |
| Hanford CA Joint Union High School District | ||||
| Revenue | 5.000% | 8/1/31 (4) | 2,385 | 2,912 |
| Hartnell CA Community College GO | 5.000% | 8/1/21 | 500 | 596 |
| Hartnell CA Community College GO | 5.000% | 8/1/22 | 500 | 610 |
| Hayward CA Unified School District GO | 5.000% | 8/1/30 (4) | 3,465 | 4,159 |
| Hayward CA Unified School District GO | 5.000% | 8/1/30 (4) | 4,930 | 5,917 |
| Hayward CA Unified School District GO | 5.000% | 8/1/31 (4) | 1,500 | 1,793 |
| Hayward CA Unified School District GO | 5.000% | 8/1/32 (4) | 4,240 | 5,053 |
| Hayward CA Unified School District GO | 5.000% | 8/1/32 (4) | 1,700 | 2,026 |
| Hayward CA Unified School District GO | 5.000% | 8/1/33 (4) | 3,045 | 3,619 |
| Hayward CA Unified School District GO | 5.000% | 8/1/33 (4) | 6,130 | 7,285 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 2.000% | 9/1/16 | 250 | 251 |
73
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 3.000% | 9/1/17 | 250 | 255 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 4.000% | 9/1/18 | 280 | 297 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 4.000% | 9/1/19 | 350 | 377 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 4.000% | 9/1/20 | 250 | 273 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/21 | 175 | 203 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/22 | 500 | 589 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/23 | 500 | 597 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/24 | 615 | 741 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/25 | 385 | 462 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/27 | 950 | 1,122 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/29 | 1,255 | 1,466 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/32 | 550 | 634 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/33 | 580 | 666 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/34 | 360 | 412 |
| Hollister CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/27 (15) | 1,000 | 1,219 |
| Hollister CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/28 (15) | 1,235 | 1,498 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/20 | 1,000 | 1,169 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/22 | 525 | 642 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/24 | 670 | 848 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/26 | 1,500 | 1,715 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/27 | 500 | 638 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/28 | 600 | 759 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/31 | 3,000 | 3,742 |
| Indian Wells CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 4.000% | 9/1/18 (4) | 1,000 | 1,063 |
| Indian Wells CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 4.000% | 9/1/19 (4) | 1,225 | 1,331 |
| Indian Wells CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/20 (4) | 1,285 | 1,470 |
| Indian Wells CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/21 (4) | 1,615 | 1,892 |
| Indian Wells CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/22 (4) | 1,195 | 1,423 |
| Indian Wells CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/23 (4) | 750 | 908 |
| Indian Wells CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/24 (4) | 610 | 750 |
74
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Irvine CA Assessment District No. 00-18 | ||||
| Improvement Revenue VRDO | 0.300% | 6/1/16 LOC | 1,300 | 1,300 |
| Irvine CA Assessment District No. 94-13 | ||||
| Improvement Revenue (Oak Creek) VRDO | 0.300% | 6/1/16 LOC | 2,050 | 2,050 |
| Irvine CA Public Facilities & Infrastructure | ||||
| Authority Assessment Revenue VRDO | 0.300% | 6/1/16 LOC | 2,100 | 2,100 |
| Irvine CA Ranch Water District Revenue VRDO | 0.270% | 6/1/16 LOC | 3,400 | 3,400 |
| Irvine CA Ranch Water District Revenue VRDO | 0.280% | 6/1/16 LOC | 2,000 | 2,000 |
| Irvine CA Reassessment District No. 12-1 | ||||
| Improvement Revenue | 4.000% | 9/2/18 | 1,350 | 1,438 |
| Irvine CA Reassessment District No. 12-1 | ||||
| Improvement Revenue | 4.000% | 9/2/19 | 2,000 | 2,178 |
| Irvine CA Reassessment District No. 12-1 | ||||
| Improvement Revenue | 4.000% | 9/2/20 | 2,425 | 2,682 |
| Irvine CA Reassessment District No. 12-1 | ||||
| Improvement Revenue | 4.000% | 9/2/21 | 1,750 | 1,965 |
| Irvine CA Reassessment District No. 12-1 | ||||
| Improvement Revenue | 5.000% | 9/2/23 | 400 | 472 |
| Irvine CA Reassessment District No. 13-1 | ||||
| Improvement Revenue | 5.000% | 9/2/20 | 350 | 406 |
| Irvine CA Reassessment District No. 13-1 | ||||
| Improvement Revenue | 5.000% | 9/2/22 | 1,125 | 1,362 |
| Irvine CA Reassessment District No. 15-1 | ||||
| Improvement Revenue | 5.000% | 9/2/22 | 1,000 | 1,208 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 2.000% | 9/2/16 | 300 | 301 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 3.000% | 9/2/17 | 400 | 411 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 4.000% | 9/2/18 | 500 | 533 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 4.000% | 9/2/20 | 750 | 828 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 5.000% | 9/2/21 | 675 | 784 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 5.000% | 9/2/22 | 650 | 766 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 5.000% | 9/2/23 | 800 | 955 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 5.000% | 9/2/24 | 850 | 1,024 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 5.000% | 9/2/25 | 450 | 545 |
| Irvine CA Reassessment District No. 15-2 | ||||
| Improvement Revenue | 5.000% | 9/2/26 | 800 | 961 |
| Irvine CA Unified School District Community | ||||
| Facilities District No. 09-1 Special Tax | ||||
| Revenue VRDO | 0.310% | 6/1/16 LOC | 3,500 | 3,500 |
| Irvine CA Unified School District Community | ||||
| Facilities District No. 09-A Special Tax | ||||
| Revenue VRDO | 0.310% | 6/1/16 LOC | 5,100 | 5,100 |
| Jefferson CA Union High School District GO | 4.000% | 8/1/18 (15) | 750 | 800 |
| Jefferson CA Union High School District GO | 5.000% | 8/1/19 (15) | 625 | 702 |
| Jefferson CA Union High School District GO | 5.000% | 8/1/20 (15) | 500 | 578 |
| Jefferson CA Union High School District GO | 5.000% | 8/1/21 (15) | 500 | 593 |
75
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Jefferson CA Union High School District GO | 5.000% | 8/1/22 (15) | 700 | 846 |
| Jefferson CA Union High School District GO | 5.000% | 8/1/23 (15) | 1,000 | 1,229 |
| Jefferson CA Union High School District GO | 5.000% | 8/1/24 (15) | 875 | 1,093 |
| Jefferson CA Union High School District GO | 5.000% | 8/1/25 (15) | 860 | 1,085 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 4.000% | 9/1/18 | 770 | 818 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 4.000% | 9/1/19 | 1,095 | 1,186 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 4.000% | 9/1/20 | 1,385 | 1,523 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 5.000% | 9/1/21 | 500 | 586 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 5.000% | 9/1/22 | 1,535 | 1,832 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 5.000% | 9/1/23 | 1,365 | 1,657 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 5.000% | 9/1/24 | 620 | 764 |
| Jurupa CA Public Financing Authority Special | ||||
| Tax Revenue | 5.000% | 9/1/25 | 1,725 | 2,150 |
| Kaweah CA Delta Health Care District Revenue | 4.000% | 6/1/16 | 2,500 | 2,500 |
| Kaweah CA Delta Health Care District Revenue | 5.000% | 6/1/17 | 1,110 | 1,150 |
| Kaweah CA Delta Health Care District Revenue | 5.000% | 6/1/18 | 3,255 | 3,475 |
| Kaweah CA Delta Health Care District Revenue | 5.000% | 6/1/19 | 3,415 | 3,744 |
| Kaweah CA Delta Health Care District Revenue | 5.000% | 6/1/20 | 1,585 | 1,777 |
| Kaweah CA Delta Health Care District Revenue | 5.000% | 6/1/21 | 3,755 | 4,300 |
| Kaweah CA Delta Health Care District Revenue | 5.000% | 6/1/22 | 3,950 | 4,599 |
| Kaweah CA Delta Health Care District Revenue | 4.000% | 6/1/36 | 4,930 | 5,213 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/23 | 750 | 904 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/24 | 1,250 | 1,517 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/25 | 1,250 | 1,507 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/28 | 1,000 | 1,210 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/29 | 1,000 | 1,206 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/30 | 1,500 | 1,765 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/31 | 2,095 | 2,457 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/32 | 1,515 | 1,807 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/34 | 1,050 | 1,243 |
| La Verne CA (Brethren Hillcrest Homes) COP | 5.000% | 5/15/23 | 300 | 348 |
| La Verne CA (Brethren Hillcrest Homes) COP | 5.000% | 5/15/24 | 310 | 358 |
| La Verne CA (Brethren Hillcrest Homes) COP | 5.000% | 5/15/25 | 550 | 631 |
| La Verne CA (Brethren Hillcrest Homes) COP | 5.000% | 5/15/29 | 750 | 845 |
| Lee Lake CA Public Financing Authority Revenue | 5.000% | 9/1/21 | 1,810 | 2,096 |
| Lee Lake CA Public Financing Authority Revenue | 5.000% | 9/1/23 | 2,190 | 2,615 |
| Long Beach CA Community College District GO | 0.000% | 6/1/29 (ETM) | 960 | 729 |
| Long Beach CA Community College District GO | 0.000% | 6/1/29 (4) | 5,420 | 3,833 |
76
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Long Beach CA Finance Authority Lease | ||||
| Revenue | 6.000% | 11/1/17 (2) | 1,210 | 1,239 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.250% | 11/15/19 | 415 | 462 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.250% | 11/15/20 | 3,255 | 3,705 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.250% | 11/15/21 | 500 | 581 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.250% | 11/15/22 | 260 | 307 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.000% | 11/15/24 | 7,905 | 9,403 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 1.830% | 11/15/25 | 16,845 | 16,089 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 1.850% | 11/15/26 | 10,025 | 9,476 |
| Long Beach CA Harbor Revenue | 5.000% | 5/15/33 | 1,000 | 1,226 |
| Long Beach CA Harbor Revenue | 5.000% | 5/15/34 | 2,000 | 2,444 |
| Long Beach CA Harbor Revenue | 5.000% | 5/15/35 | 2,825 | 3,447 |
| Long Beach CA Unified School District GO | 4.000% | 8/1/17 | 2,550 | 2,650 |
| Long Beach CA Unified School District GO | 0.000% | 8/1/27 | 2,500 | 1,792 |
| Long Beach CA Unified School District GO | 5.000% | 8/1/30 | 5,000 | 6,017 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/16 (Prere.) | 15,250 | 15,364 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/17 (Prere.) | 5,000 | 5,255 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/17 (Prere.) | 2,065 | 2,170 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 4,255 | 4,644 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 45 | 49 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 5 | 5 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 6,500 | 7,094 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 5,000 | 5,457 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 35 | 38 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 4,250 | 4,638 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/18 (Prere.) | 20 | 22 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/19 (Prere.) | 6,960 | 7,843 |
| Los Angeles CA Community College District GO | 5.500% | 8/1/19 (Prere.) | 5,000 | 5,712 |
| Los Angeles CA Community College District GO | 6.000% | 8/1/19 (Prere.) | 10,000 | 11,581 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/22 | 3,000 | 3,667 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/24 | 12,420 | 15,799 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/24 | 4,735 | 6,023 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/25 | 10,910 | 14,090 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/27 | 22,535 | 28,423 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/28 | 23,990 | 30,066 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/29 | 6,000 | 7,493 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/30 | 4,045 | 4,583 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/30 | 1,000 | 1,127 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/30 | 7,000 | 8,700 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/31 | 4,320 | 4,895 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/31 | 6,145 | 6,901 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/31 | 20,000 | 24,789 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/32 | 5,205 | 5,873 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/32 | 14,500 | 16,360 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/33 | 19,215 | 21,588 |
| 3 Los Angeles CA Community College District GO | ||||
| TOB VRDO | 0.400% | 6/7/16 | 2,800 | 2,800 |
77
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles CA Community Facilities District | ||||
| No.4 Special Tax Revenue (Playa Vista - | ||||
| Phase 1) | 5.000% | 9/1/23 | 800 | 966 |
| Los Angeles CA Community Facilities District | ||||
| No.4 Special Tax Revenue (Playa Vista - | ||||
| Phase 1) | 5.000% | 9/1/24 | 1,000 | 1,223 |
| Los Angeles CA Community Facilities District | ||||
| No.4 Special Tax Revenue (Playa Vista - | ||||
| Phase 1) | 5.000% | 9/1/25 | 1,500 | 1,817 |
| Los Angeles CA Community Facilities District | ||||
| No.4 Special Tax Revenue (Playa Vista - | ||||
| Phase 1) | 5.000% | 9/1/26 | 1,200 | 1,442 |
| Los Angeles CA Community Facilities District | ||||
| No.4 Special Tax Revenue (Playa Vista - | ||||
| Phase 1) | 5.000% | 9/1/27 | 2,000 | 2,367 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/18 (Prere.) | 4,000 | 4,333 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.250% | 5/15/18 (Prere.) | 3,000 | 3,265 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 4.500% | 5/15/19 | 1,305 | 1,448 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/21 | 1,145 | 1,354 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/22 | 1,000 | 1,219 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/23 | 950 | 1,171 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/23 | 1,420 | 1,725 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/24 | 1,700 | 2,044 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/25 | 1,300 | 1,645 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/25 | 1,500 | 1,800 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/26 | 1,500 | 1,899 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/26 | 5,500 | 6,331 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/27 | 2,000 | 2,508 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/28 | 2,000 | 2,490 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.250% | 5/15/28 | 10,000 | 11,597 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/29 | 1,115 | 1,357 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/29 | 4,385 | 5,026 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.250% | 5/15/29 | 10,000 | 11,576 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/30 | 1,835 | 2,114 |
78
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/30 | 1,200 | 1,455 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/31 | 1,190 | 1,439 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/32 | 1,700 | 2,049 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/33 | 1,510 | 1,815 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/34 | 4,750 | 5,787 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/34 | 4,135 | 4,955 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/35 | 2,000 | 2,417 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/17 | 5,000 | 5,238 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 12/1/18 | 30,630 | 33,820 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 4.000% | 7/1/22 | 1,000 | 1,162 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/22 | 1,000 | 1,222 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/22 | 2,500 | 3,051 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/22 | 10,000 | 11,971 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 4.000% | 7/1/23 | 2,150 | 2,533 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/23 | 5,605 | 6,862 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/23 | 1,750 | 2,179 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/23 | 2,490 | 3,105 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/23 | 1,335 | 1,480 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/24 | 810 | 1,028 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/24 | 3,000 | 3,811 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/24 | 2,770 | 3,054 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/25 | 10,000 | 12,218 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/25 | 500 | 644 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/25 | 1,375 | 1,771 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/26 | 1,500 | 1,816 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/26 | 750 | 966 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/26 | 1,670 | 2,146 |
79
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/26 | 2,350 | 2,583 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/26 | 2,000 | 2,169 |
| 4 Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/26 | 6,000 | 7,707 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/27 | 500 | 638 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/27 | 1,655 | 1,830 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/27 | 5,000 | 5,417 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/28 | 8,000 | 9,941 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/28 | 1,000 | 1,265 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/28 | 2,000 | 2,207 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/29 | 1,500 | 1,856 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/29 | 1,000 | 1,259 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/29 | 1,670 | 1,838 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/30 | 10,000 | 12,323 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/30 | 500 | 627 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/30 | 2,000 | 2,493 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/31 | 15,000 | 18,201 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/31 | 7,000 | 8,592 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/31 (2) | 3,755 | 3,770 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/31 | 1,000 | 1,249 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/31 | 2,500 | 3,104 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/31 | 4,690 | 5,822 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 | 7,500 | 9,167 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 | 14,205 | 17,173 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 | 7,000 | 8,463 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 | 6,730 | 8,229 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 (2) | 1,940 | 2,032 |
80
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 | 3,300 | 4,080 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 | 6,080 | 7,517 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/33 | 1,500 | 1,858 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/33 | 5,000 | 6,026 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/33 | 5,525 | 6,855 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/34 | 12,005 | 14,741 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/34 | 7,500 | 9,102 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/34 | 4,500 | 5,575 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/34 | 2,000 | 2,456 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/34 | 5,305 | 6,514 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/35 | 1,500 | 1,848 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/35 | 2,250 | 2,783 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/36 | 1,050 | 1,289 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.260% | 6/1/16 | 3,000 | 3,000 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.270% | 6/1/16 | 13,700 | 13,700 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.280% | 6/1/16 | 1,100 | 1,100 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.280% | 6/1/16 | 5,500 | 5,500 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.280% | 6/1/16 | 2,600 | 2,600 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.290% | 6/1/16 | 14,200 | 14,200 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.360% | 6/7/16 | 8,400 | 8,400 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.370% | 6/7/16 | 2,400 | 2,400 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue VRDO | 0.380% | 6/7/16 | 19,000 | 19,000 |
| Los Angeles CA GO | 5.000% | 9/1/22 | 10,000 | 12,035 |
| Los Angeles CA GO | 5.000% | 9/1/29 | 5,850 | 6,956 |
| Los Angeles CA GO | 5.000% | 9/1/30 | 5,850 | 6,824 |
| Los Angeles CA Harbor Department Revenue | 5.000% | 8/1/20 | 500 | 580 |
| Los Angeles CA Harbor Department Revenue | 5.000% | 8/1/21 | 750 | 894 |
| Los Angeles CA Harbor Department Revenue | 5.000% | 8/1/25 | 3,795 | 4,539 |
| Los Angeles CA Harbor Department Revenue | 5.000% | 8/1/33 | 2,560 | 3,127 |
| Los Angeles CA Harbor Department Revenue | 5.000% | 8/1/35 | 1,925 | 2,324 |
| Los Angeles CA Harbor Department Revenue | 5.000% | 8/1/36 | 1,985 | 2,388 |
81
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/24 | 6,275 | 7,857 |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/25 | 5,000 | 6,325 |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/25 | 8,000 | 10,120 |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/26 | 3,000 | 3,848 |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/27 | 4,000 | 5,107 |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/29 | 9,805 | 12,334 |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 4.000% | 11/1/33 | 7,400 | 8,290 |
| 4 Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 4.000% | 11/1/35 | 7,000 | 7,748 |
| Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue (Figueroa Plaza) | 5.000% | 8/1/28 (14)(3) | 8,635 | 8,635 |
| Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue (Police Headquarters Facility) | 4.750% | 1/1/17 (Prere.) | 10,000 | 10,245 |
| Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue (Police Headquarters Facility) | 5.000% | 1/1/17 (Prere.) | 14,700 | 15,058 |
| Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue (Police Headquarters Facility) | 5.000% | 1/1/17 (Prere.) | 6,500 | 6,659 |
| Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue (Police Headquarters Facility) | 5.000% | 1/1/17 (Prere.) | 10,830 | 11,101 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 2,355 | 2,364 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 1,630 | 1,636 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 890 | 893 |
| 2 Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 5,000 | 5,018 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 16,760 | 16,821 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 15,940 | 15,998 |
| 2 Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 14,135 | 14,186 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 4,000 | 4,015 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 5,000 | 5,018 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/17 (Prere.) | 3,185 | 3,335 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/17 (4) | 1,000 | 1,047 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/17 (Prere.) | 17,210 | 18,022 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/17 (Prere.) | 12,975 | 13,588 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/17 (Prere.) | 6,000 | 6,283 |
| 2 Los Angeles CA Unified School District GO | 5.000% | 7/1/17 (Prere.) | 5,000 | 5,236 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/17 (4) | 3,515 | 3,681 |
| Los Angeles CA Unified School District GO | 5.500% | 7/1/17 (3) | 2,900 | 3,053 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/19 | 4,860 | 5,468 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/19 | 8,740 | 9,833 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/19 | 53,000 | 59,628 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/19 | 12,690 | 14,277 |
| Los Angeles CA Unified School District GO | 3.000% | 7/1/20 | 16,030 | 17,310 |
| Los Angeles CA Unified School District GO | 3.000% | 7/1/20 | 13,000 | 14,038 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/20 | 15,000 | 17,395 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/20 | 28,975 | 33,601 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/20 (3) | 9,000 | 9,034 |
| Los Angeles CA Unified School District GO | 4.000% | 7/1/21 | 10,000 | 11,382 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/21 | 12,500 | 14,883 |
82
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles CA Unified School District GO | 4.000% | 7/1/22 | 18,320 | 21,187 |
| Los Angeles CA Unified School District GO | 4.500% | 7/1/22 (4) | 5,000 | 5,213 |
| Los Angeles CA Unified School District GO | 4.000% | 7/1/23 | 3,265 | 3,831 |
| Los Angeles CA Unified School District GO | 4.500% | 7/1/23 (4) | 31,065 | 32,397 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/23 | 5,000 | 6,214 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/23 | 3,465 | 4,306 |
| Los Angeles CA Unified School District GO | 4.500% | 7/1/24 (4) | 6,600 | 6,880 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/24 | 13,035 | 16,502 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/24 | 4,000 | 4,765 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/24 | 10,900 | 13,799 |
| Los Angeles CA Unified School District GO | 4.500% | 7/1/25 (14) | 2,600 | 2,707 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/25 | 6,000 | 7,139 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/25 | 1,300 | 1,640 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/25 (2) | 7,880 | 7,909 |
| Los Angeles CA Unified School District GO | 5.250% | 7/1/25 | 1,600 | 1,808 |
| Los Angeles CA Unified School District GO | 4.500% | 7/1/26 (2) | 10,005 | 10,415 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/26 | 5,710 | 6,406 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/26 | 2,500 | 2,971 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/27 | 8,375 | 10,157 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/27 | 1,595 | 1,788 |
| Los Angeles CA Unified School District GO | 4.500% | 1/1/28 (14) | 26,375 | 27,445 |
| Los Angeles CA Unified School District GO | 5.000% | 1/1/28 | 8,395 | 10,146 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/28 (4) | 5,365 | 5,612 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/28 | 2,600 | 3,086 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/28 | 12,000 | 14,861 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/28 (2) | 6,215 | 6,238 |
| Los Angeles CA Unified School District GO | 5.250% | 7/1/28 | 5,000 | 5,834 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/29 | 2,500 | 2,958 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/29 | 17,510 | 21,663 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/30 | 3,000 | 3,556 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/30 | 1,985 | 2,470 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/30 (2) | 5,595 | 5,616 |
| Los Angeles CA Unified School District GO | 4.500% | 7/1/31 (2) | 7,015 | 7,286 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/31 | 3,000 | 3,546 |
| Los Angeles CA Unified School District GO | 4.750% | 7/1/32 (4) | 40,925 | 42,665 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/32 (4) | 3,515 | 3,674 |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/32 | 2,700 | 3,180 |
| Los Angeles CA Unified School District GO | 5.000% | 1/1/34 | 1,385 | 1,556 |
| Los Angeles CA Unified School District GO | 5.000% | 1/1/34 | 1,580 | 1,775 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/20 | 1,800 | 2,083 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/21 | 2,000 | 2,377 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/22 | 2,750 | 3,348 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/23 | 1,250 | 1,555 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/26 | 13,045 | 15,705 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/29 | 10,000 | 11,978 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/31 | 5,420 | 6,596 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/32 | 10,880 | 13,192 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/33 | 16,925 | 20,423 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/33 | 1,500 | 1,851 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/34 | 5,000 | 6,011 |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/35 | 4,500 | 5,391 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Revenue (Union | ||||
| Station Gateway Project) | 5.000% | 7/1/25 | 1,000 | 1,290 |
83
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Revenue (Union | ||||
| Station Gateway Project) | 5.000% | 7/1/26 | 2,000 | 2,554 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/16 | 3,250 | 3,262 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 6/1/19 | 1,600 | 1,796 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/20 | 4,000 | 4,505 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/21 | 3,000 | 3,575 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/22 | 5,075 | 6,193 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/22 | 10,000 | 11,956 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/23 | 10,000 | 11,931 |
| 4 Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/24 | 4,000 | 5,076 |
| Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/24 | 1,255 | 1,529 |
| 4 Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/25 | 6,065 | 7,816 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 9/1/16 (Prere.) | 17,000 | 17,187 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 9/1/16 (Prere.) | 1,940 | 1,961 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/21 | 1,000 | 1,189 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 12/1/21 | 2,440 | 2,922 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/22 | 1,000 | 1,215 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 12/1/22 | 1,275 | 1,560 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/23 | 1,500 | 1,812 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/24 | 1,515 | 1,823 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 12/1/24 | 1,325 | 1,674 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/25 | 1,325 | 1,589 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 12/1/25 | 875 | 1,116 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/30 | 2,500 | 2,975 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/31 | 3,000 | 3,562 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 12/1/33 | 6,190 | 7,562 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Revenue (Regional Park & Open | ||||
| Space District) | 5.250% | 10/1/17 (4) | 1,000 | 1,060 |
84
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles County CA Redevelopment Authority | ||||
| Tax Allocation Revenue (Hollywood/North | ||||
| Hollywood Redevelopment Project) | 5.000% | 7/1/21 | 1,670 | 1,972 |
| Los Angeles County CA Redevelopment Authority | ||||
| Tax Allocation Revenue (Hollywood/North | ||||
| Hollywood Redevelopment Project) | 5.000% | 7/1/22 | 4,555 | 5,489 |
| Los Angeles County CA Redevelopment Authority | ||||
| Tax Allocation Revenue (Hollywood/North | ||||
| Hollywood Redevelopment Project) | 5.000% | 7/1/23 | 2,105 | 2,579 |
| Los Angeles County CA Redevelopment Authority | ||||
| Tax Allocation Revenue (Hollywood/North | ||||
| Hollywood Redevelopment Project) | 5.000% | 7/1/24 | 2,215 | 2,703 |
| Los Angeles County CA Regional Financing | ||||
| Authority Revenue (MonteCedro Inc. Project) | 3.000% | 11/15/20 | 215 | 215 |
| Los Angeles County CA Regional Financing | ||||
| Authority Revenue (MonteCedro Inc. Project) | 3.000% | 11/15/21 | 2,125 | 2,130 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/19 | 730 | 828 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/20 | 1,000 | 1,166 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/29 | 1,370 | 1,700 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/30 | 3,060 | 3,777 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/31 | 4,300 | 5,286 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/32 | 6,000 | 7,354 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/33 | 8,350 | 10,195 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/34 | 4,000 | 4,865 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/35 | 3,790 | 4,592 |
| Los Angeles County CA Unified School | ||||
| District GO | 5.000% | 7/1/21 | 12,500 | 14,883 |
| M-S-R California Energy Authority Revenue | 7.000% | 11/1/34 | 8,600 | 12,873 |
| M-S-R California Energy Authority Revenue | 7.000% | 11/1/34 | 5,965 | 8,928 |
| M-S-R California Energy Authority Revenue | 7.000% | 11/1/34 | 12,665 | 18,957 |
| Manteca CA Unified School District GO | 5.000% | 8/1/18 | 2,215 | 2,414 |
| Manteca CA Unified School District GO | 5.000% | 8/1/19 | 2,495 | 2,811 |
| Manteca CA Unified School District GO | 5.000% | 8/1/20 | 1,000 | 1,161 |
| Manteca CA Unified School District GO | 5.000% | 8/1/21 | 1,000 | 1,191 |
| Manteca CA Unified School District GO | 5.000% | 8/1/22 | 1,000 | 1,216 |
| Manteca CA Unified School District GO | 5.000% | 8/1/23 | 1,100 | 1,366 |
| Marin CA Community College District GO | 5.000% | 8/1/23 | 550 | 687 |
| Marin CA Community College District GO | 5.000% | 8/1/24 | 445 | 566 |
| Marin CA Community College District GO | 5.000% | 8/1/25 | 550 | 710 |
| Marin CA Healthcare District GO | 5.000% | 8/1/28 | 435 | 543 |
| Marin CA Healthcare District GO | 5.000% | 8/1/30 | 500 | 619 |
| Marin CA Healthcare District GO | 5.000% | 8/1/31 | 1,000 | 1,230 |
| Marin CA Healthcare District GO | 5.000% | 8/1/32 | 1,850 | 2,273 |
| Marin CA Healthcare District GO | 5.000% | 8/1/33 | 1,350 | 1,655 |
| Marin CA Healthcare District GO | 5.000% | 8/1/34 | 1,250 | 1,526 |
85
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Marin CA Healthcare District GO | 4.000% | 8/1/35 | 1,750 | 1,955 |
| Marina Coast Water District California Enterprise | ||||
| Revenue | 4.000% | 6/1/22 | 1,090 | 1,250 |
| Marina Coast Water District California Enterprise | ||||
| Revenue COP | 5.000% | 6/1/16 (Prere.) | 3,005 | 3,005 |
| Marysville CA Revenue (Fremont-Rideout Health | ||||
| Group) | 5.250% | 1/1/23 | 1,780 | 2,052 |
| Marysville CA Revenue (Fremont-Rideout Health | ||||
| Group) | 5.250% | 1/1/25 | 2,630 | 3,020 |
| Marysville CA Revenue (Fremont-Rideout Health | ||||
| Group) | 5.250% | 1/1/28 | 1,500 | 1,703 |
| Menlo Park CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/19 | 445 | 502 |
| Menlo Park CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/20 | 400 | 464 |
| Menlo Park CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/21 (4) | 530 | 632 |
| Menlo Park CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/22 (4) | 500 | 607 |
| Menlo Park CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/26 (4) | 1,000 | 1,252 |
| Menlo Park CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/27 (4) | 1,250 | 1,555 |
| Menlo Park CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/29 (4) | 400 | 490 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/17 | 25,000 | 26,197 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/18 | 20,000 | 21,771 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/21 | 2,700 | 3,225 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/23 | 1,000 | 1,250 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/24 | 3,500 | 4,458 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/25 | 3,365 | 4,345 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/26 | 3,250 | 4,157 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/30 | 2,120 | 2,553 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 10/1/30 | 3,585 | 4,294 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 1/1/31 | 1,150 | 1,267 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/31 | 2,250 | 2,703 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/31 | 2,930 | 3,285 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 10/1/31 | 11,065 | 13,227 |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 10/1/32 | 9,965 | 11,912 |
86
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Metropolitan Water District of Southern | ||||
| California Revenue | 5.000% | 7/1/35 | 2,605 | 2,937 |
| 3 Metropolitan Water District of Southern | ||||
| California Revenue TOB VRDO | 0.430% | 6/7/16 | 7,000 | 7,000 |
| Metropolitan Water District of Southern | ||||
| California Revenue VRDO | 0.290% | 6/1/16 | 9,070 | 9,070 |
| Modesto CA Community Facilities District | ||||
| No. 2004-1 Special Tax Revenue (Village One | ||||
| No. 2) | 5.000% | 9/1/29 | 1,625 | 1,869 |
| Modesto CA Community Facilities District | ||||
| No. 2004-1 Special Tax Revenue (Village One | ||||
| No. 2) | 5.000% | 9/1/30 | 1,760 | 2,014 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/16 (Prere.) | 930 | 944 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/16 (Prere.) | 1,155 | 1,172 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/16 (Prere.) | 1,215 | 1,233 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/21 (2) | 1,100 | 1,116 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/22 (2) | 1,360 | 1,380 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/23 (2) | 1,430 | 1,451 |
| Modesto CA Irrigation District COP | 5.000% | 7/1/27 | 3,855 | 4,141 |
| Modesto CA Irrigation District Electric Revenue | 5.000% | 7/1/21 | 1,000 | 1,188 |
| Modesto CA Irrigation District Electric Revenue | 5.000% | 7/1/22 | 1,000 | 1,214 |
| Modesto CA Irrigation District Financing | ||||
| Authority Electric Revenue | 5.000% | 10/1/31 | 1,475 | 1,795 |
| Modesto CA Irrigation District Financing | ||||
| Authority Electric Revenue | 5.000% | 10/1/31 | 1,840 | 2,226 |
| Morgan Hill CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 3/1/23 | 1,330 | 1,608 |
| Morgan Hill CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/23 | 2,550 | 3,112 |
| Morgan Hill CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/28 | 5,075 | 6,050 |
| Morgan Hill CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/29 | 5,430 | 6,449 |
| Morgan Hill CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/31 | 2,990 | 3,522 |
| Morgan Hill CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/32 | 4,315 | 5,070 |
| Morgan Hill CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 9/1/33 | 2,000 | 2,343 |
| Mount Diablo CA Unified School District GO | 4.000% | 8/1/16 | 1,065 | 1,071 |
| Mount Diablo CA Unified School District GO | 5.000% | 8/1/17 | 2,000 | 2,098 |
| Mount Diablo CA Unified School District GO | 5.000% | 8/1/18 | 1,500 | 1,631 |
| Mount Diablo CA Unified School District GO | 5.000% | 8/1/19 | 650 | 732 |
| Mount Diablo CA Unified School District GO | 5.000% | 8/1/20 | 700 | 812 |
| Mount Diablo CA Unified School District GO | 5.000% | 8/1/21 | 765 | 911 |
| Mount San Antonio CA Community College | ||||
| District GO | 0.000% | 8/1/25 | 2,000 | 1,618 |
| Mount San Antonio CA Community College | ||||
| District GO | 0.000% | 8/1/28 | 3,000 | 2,799 |
| Mountain View-Whisman CA School District GO | 5.000% | 9/1/24 | 400 | 511 |
| Mountain View-Whisman CA School District GO | 5.000% | 9/1/25 | 600 | 777 |
| Mountain View-Whisman CA School District GO | 5.000% | 9/1/26 | 1,050 | 1,375 |
| Mountain View-Whisman CA School District GO | 5.000% | 9/1/28 | 750 | 967 |
| Mountain View-Whisman CA School District GO | 5.000% | 9/1/29 | 1,000 | 1,283 |
87
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Murrieta Valley CA Unified School District GO | 1.500% | 9/1/16 (4) | 435 | 436 |
| Murrieta Valley CA Unified School District GO | 2.000% | 9/1/17 (4) | 500 | 508 |
| Murrieta Valley CA Unified School District GO | 3.000% | 9/1/18 (4) | 500 | 523 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/19 (4) | 575 | 649 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/20 (4) | 775 | 899 |
| Murrieta Valley CA Unified School District GO | 4.000% | 9/1/21 (4) | 250 | 284 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/21 (4) | 1,605 | 1,906 |
| Murrieta Valley CA Unified School District GO | 4.000% | 9/1/22 (4) | 320 | 368 |
| Murrieta Valley CA Unified School District GO | 4.000% | 9/1/23 (4) | 850 | 988 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/23 (4) | 1,450 | 1,785 |
| Murrieta Valley CA Unified School District GO | 4.000% | 9/1/24 (4) | 350 | 411 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/25 (4) | 700 | 872 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/25 (4) | 1,400 | 1,744 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/26 (4) | 520 | 641 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/26 (4) | 1,625 | 2,002 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/27 (4) | 465 | 569 |
| Murrieta Valley CA Unified School District GO | 5.000% | 9/1/28 (4) | 300 | 364 |
| Newport Beach CA Revenue (Hoag Memorial | ||||
| Hospital Presbyterian) | 5.875% | 12/1/21 (Prere.) | 5,150 | 6,414 |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/29 | 4,625 | 3,221 |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/30 | 3,000 | 2,008 |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/31 | 1,500 | 963 |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/32 | 14,000 | 8,637 |
| Northern California Gas Authority No. 1 Revenue | 1.019% | 7/1/17 | 6,620 | 6,617 |
| Northern California Power Agency Capital | ||||
| Facilities Revenue | 5.000% | 8/1/20 | 1,000 | 1,129 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/16 | 1,745 | 1,752 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/17 | 3,290 | 3,447 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/20 | 3,500 | 3,923 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/21 | 2,500 | 2,790 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/22 | 3,395 | 3,775 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/28 | 5,000 | 5,961 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/29 | 3,000 | 3,563 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/30 | 1,605 | 1,895 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/31 | 1,600 | 1,889 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/20 | 250 | 289 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/21 | 245 | 291 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/22 | 200 | 244 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/23 | 375 | 465 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/24 | 500 | 632 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/25 | 1,895 | 2,425 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/27 | 1,250 | 1,597 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/28 | 1,000 | 1,268 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/29 | 1,500 | 1,889 |
| Northern California Transmission Agency Revenue | 5.000% | 5/1/31 | 1,250 | 1,557 |
88
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Northern California Transmission Agency | ||||
| Revenue | 5.000% | 5/1/32 | 2,500 | 3,103 |
| Northern California Transmission Agency | ||||
| Revenue | 5.000% | 5/1/33 | 4,245 | 5,243 |
| Northern California Transmission Agency | ||||
| Revenue | 5.000% | 5/1/34 | 3,100 | 3,814 |
| Northern California Transmission Agency | ||||
| Revenue | 5.000% | 5/1/36 | 2,500 | 3,046 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 4.000% | 9/1/16 | 1,450 | 1,460 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 4.000% | 9/1/17 | 1,650 | 1,693 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 4.000% | 9/1/18 | 1,860 | 1,944 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/19 | 2,085 | 2,265 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/20 | 2,340 | 2,587 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/21 | 1,220 | 1,364 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/22 | 1,360 | 1,532 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/23 | 1,500 | 1,701 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/24 | 1,660 | 1,883 |
| Oakland CA GO | 5.000% | 1/15/23 | 5,600 | 6,814 |
| Oakland CA GO | 5.000% | 1/15/31 | 3,000 | 3,418 |
| Oakland CA Joint Powers Financing Authority | ||||
| Lease Revenue (Administration Buildings) | 5.000% | 8/1/23 (12) | 5,000 | 5,408 |
| Oakland CA Joint Powers Financing Authority | ||||
| Lease Revenue (Administration Buildings) | 5.000% | 8/1/24 (12) | 3,810 | 4,113 |
| Oakland CA Joint Powers Financing Authority | ||||
| Lease Revenue (Administration Buildings) | 5.000% | 8/1/25 (12) | 5,405 | 5,822 |
| Oakland CA Joint Powers Financing Authority | ||||
| Lease Revenue (Administration Buildings) | 5.000% | 8/1/26 (12) | 4,190 | 4,502 |
| Oakland CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Central District Project) | 5.000% | 9/1/21 | 3,000 | 3,519 |
| Oakland CA Unified School District GO | 5.000% | 8/1/17 | 2,760 | 2,884 |
| Oakland CA Unified School District GO | 5.000% | 8/1/18 | 6,145 | 6,622 |
| Oakland CA Unified School District GO | 5.000% | 8/1/19 | 6,565 | 7,269 |
| Oakland CA Unified School District GO | 5.000% | 8/1/19 (4) | 13,425 | 14,062 |
| Oakland CA Unified School District GO | 5.000% | 8/1/20 | 5,000 | 5,658 |
| Oakland CA Unified School District GO | 5.000% | 8/1/20 | 2,500 | 2,829 |
| Oakland CA Unified School District GO | 5.000% | 8/1/21 (4) | 3,000 | 3,551 |
89
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Oakland CA Unified School District GO | 5.000% | 8/1/21 | 1,600 | 1,847 |
| Oakland CA Unified School District GO | 5.000% | 8/1/22 (4) | 2,325 | 2,809 |
| Oakland CA Unified School District GO | 5.000% | 8/1/22 | 1,300 | 1,526 |
| Oakland CA Unified School District GO | 5.000% | 8/1/23 (14) | 3,700 | 3,876 |
| Oakland CA Unified School District GO | 5.500% | 8/1/23 | 1,000 | 1,209 |
| Oakland CA Unified School District GO | 5.000% | 8/1/24 | 1,275 | 1,540 |
| Oakland CA Unified School District GO | 5.000% | 8/1/25 (4) | 2,100 | 2,647 |
| Oakland CA Unified School District GO | 5.000% | 8/1/26 | 1,035 | 1,261 |
| Oakland CA Unified School District GO | 5.000% | 8/1/26 (4) | 1,270 | 1,581 |
| Oakland CA Unified School District GO | 5.000% | 8/1/27 (4) | 1,160 | 1,433 |
| Oakland CA Unified School District GO | 5.000% | 8/1/27 | 1,295 | 1,575 |
| Oakland CA Unified School District GO | 5.000% | 8/1/28 (4) | 1,230 | 1,509 |
| Oakland CA Unified School District GO | 5.000% | 8/1/28 | 1,000 | 1,207 |
| Oakland CA Unified School District GO | 6.250% | 8/1/28 | 2,000 | 2,435 |
| Oakland CA Unified School District GO | 5.000% | 8/1/29 | 1,000 | 1,203 |
| Oakland CA Unified School District GO | 5.000% | 8/1/31 | 2,350 | 2,812 |
| Oakland CA Unified School District GO | 5.000% | 8/1/32 | 1,515 | 1,806 |
| Oakland CA Unified School District GO | 5.000% | 8/1/33 | 1,245 | 1,476 |
| Oakland CA Unified School District GO | 5.000% | 8/1/34 | 2,500 | 2,946 |
| Ohlone CA Community College District GO | 5.000% | 8/1/22 | 750 | 912 |
| Ohlone CA Community College District GO | 5.000% | 8/1/31 | 1,770 | 2,061 |
| Ontario CA Public Financing Authority Water | ||||
| Revenue | 5.250% | 7/1/27 | 1,285 | 1,600 |
| Ontario CA Public Financing Authority Water | ||||
| Revenue | 5.250% | 7/1/28 | 1,765 | 2,187 |
| Ontario CA Public Financing Authority Water | ||||
| Revenue | 5.250% | 7/1/29 | 2,280 | 2,823 |
| Ontario CA Public Financing Authority Water | ||||
| Revenue | 5.250% | 7/1/30 | 1,400 | 1,732 |
| Ontario CA Public Financing Authority Water | ||||
| Revenue | 5.250% | 7/1/31 | 2,525 | 3,117 |
| Ontario CA Public Financing Authority Water | ||||
| Revenue | 5.250% | 7/1/32 | 2,660 | 3,272 |
| Ontario CA Public Financing Authority Water | ||||
| Revenue | 5.250% | 7/1/33 | 2,165 | 2,656 |
| Orange County CA Development Agency Tax | ||||
| Allocation Revenue (Santa Ana Heights Project) | 5.000% | 9/1/21 | 1,200 | 1,400 |
| Orange County CA Development Agency Tax | ||||
| Allocation Revenue (Santa Ana Heights Project) | 5.000% | 3/1/22 | 1,230 | 1,448 |
| Orange County CA Development Agency Tax | ||||
| Allocation Revenue (Santa Ana Heights Project) | 5.000% | 9/1/22 | 1,260 | 1,497 |
| Orange County CA Development Agency Tax | ||||
| Allocation Revenue (Santa Ana Heights Project) | 5.000% | 3/1/23 | 1,290 | 1,536 |
| Orange County CA Development Agency Tax | ||||
| Allocation Revenue (Santa Ana Heights Project) | 5.000% | 9/1/23 | 1,320 | 1,584 |
| Orange County CA Sanitation District Wastewater | ||||
| Revenue | 5.000% | 2/1/29 | 2,375 | 3,024 |
| Orange County CA Sanitation District Wastewater | ||||
| Revenue | 5.000% | 2/1/30 | 9,925 | 12,293 |
| Orange County CA Transportation Authority Toll | ||||
| Road Revenue | 5.000% | 8/15/22 | 1,000 | 1,221 |
| Orange County CA Transportation Authority Toll | ||||
| Road Revenue | 5.000% | 8/15/27 | 2,500 | 3,016 |
90
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Orange County CA Transportation Authority Toll | ||||
| Road Revenue | 5.000% | 8/15/28 | 2,545 | 3,071 |
| Orange County CA Water District COP | 5.000% | 8/15/29 | 6,925 | 7,774 |
| Orange County CA Water District Revenue | 5.000% | 8/15/33 | 8,000 | 9,716 |
| Palm Springs CA Unified School District GO | 5.000% | 8/1/28 | 1,000 | 1,160 |
| Palm Springs CA Unified School District GO | 5.000% | 8/1/29 | 1,500 | 1,739 |
| Palm Springs CA Unified School District GO | 5.000% | 8/1/30 | 1,500 | 1,734 |
| Palm Springs CA Unified School District GO | 5.000% | 8/1/31 | 1,500 | 1,734 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/25 | 475 | 598 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/26 | 555 | 703 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/27 | 430 | 542 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/28 | 1,355 | 1,696 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/29 | 1,275 | 1,588 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/31 | 415 | 511 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/32 | 1,435 | 1,759 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/33 | 750 | 916 |
| Palmdale CA Community Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/34 | 500 | 609 |
| Palo Alto CA Improvement Revenue (University | ||||
| Avenue Area Parking) | 4.000% | 9/2/19 | 1,000 | 1,077 |
| Palo Alto CA Improvement Revenue (University | ||||
| Avenue Area Parking) | 4.000% | 9/2/20 | 250 | 273 |
| Palo Alto CA Improvement Revenue (University | ||||
| Avenue Area Parking) | 4.000% | 9/2/21 | 400 | 442 |
| Palo Alto CA Improvement Revenue (University | ||||
| Avenue Area Parking) | 5.000% | 9/2/27 | 1,000 | 1,148 |
| Palo Alto CA Unified School District GO | 0.000% | 8/1/24 | 15,890 | 13,440 |
| Palomar CA Community College District GO | 4.000% | 8/1/33 | 2,140 | 2,401 |
| Palomar CA Community College District GO | 4.000% | 8/1/34 | 2,390 | 2,670 |
| Palomar Pomerado Health California COP | 6.625% | 11/1/29 | 5,000 | 5,571 |
| Palomar Pomerado Health California GO | 5.000% | 8/1/20 (2) | 710 | 713 |
| Palomar Pomerado Health California GO | 0.000% | 8/1/22 (14) | 7,055 | 6,117 |
| Palomar Pomerado Health California GO | 0.000% | 8/1/24 (12) | 5,130 | 4,117 |
| Palomar Pomerado Health California GO | 0.000% | 8/1/27 (12) | 3,095 | 2,169 |
| Palomar Pomerado Health California GO | 0.000% | 8/1/27 (14) | 1,585 | 1,111 |
| Palomar Pomerado Health California GO | 5.000% | 8/1/32 (14) | 11,290 | 11,769 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 2.000% | 8/1/16 | 830 | 832 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 4.000% | 8/1/17 | 880 | 912 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 5.000% | 8/1/18 | 925 | 1,004 |
91
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 5.000% | 8/1/19 | 1,415 | 1,585 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 5.000% | 8/1/20 (4) | 1,505 | 1,727 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 5.000% | 8/1/21 (4) | 1,455 | 1,709 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 5.000% | 8/1/22 (4) | 2,965 | 3,544 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 5.000% | 8/1/23 (4) | 2,485 | 3,024 |
| Paramount CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 0.000% | 8/1/26 (14) | 6,050 | 4,367 |
| Pasadena CA Unified School District GO | 5.000% | 8/1/23 | 835 | 1,036 |
| Pasadena CA Unified School District GO | 5.000% | 8/1/24 | 1,000 | 1,262 |
| Pasadena CA Unified School District GO | 5.000% | 8/1/25 | 750 | 961 |
| Pasadena CA Unified School District GO | 5.000% | 8/1/25 | 1,000 | 1,281 |
| Pasadena CA Unified School District GO | 5.000% | 8/1/26 | 500 | 647 |
| Pasadena CA Unified School District GO | 5.000% | 8/1/26 | 1,000 | 1,293 |
| Pasadena CA Unified School District GO | 5.000% | 5/1/30 | 3,695 | 4,415 |
| Pasadena CA Unified School District GO | 5.000% | 5/1/31 | 1,500 | 1,787 |
| Pasadena CA Unified School District GO | 5.000% | 5/1/32 | 2,000 | 2,375 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 4.000% | 8/1/16 | 1,330 | 1,338 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 8/1/17 | 3,045 | 3,195 |
| 4 Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 9/1/19 (4) | 6,300 | 7,065 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 0.000% | 8/1/20 (2) | 2,460 | 2,268 |
| 4 Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 9/1/20 (4) | 5,880 | 6,759 |
| 4 Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 9/1/21 (4) | 2,000 | 2,351 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 0.000% | 8/1/25 (2) | 2,930 | 2,315 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 8/1/25 (4) | 855 | 1,055 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 8/1/26 (4) | 900 | 1,102 |
92
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 8/1/27 (4) | 1,220 | 1,484 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 8/1/28 (4) | 1,285 | 1,555 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 0.000% | 8/1/29 (2) | 355 | 236 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 5.000% | 8/1/29 (4) | 1,350 | 1,626 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 2.000% | 10/1/16 (4) | 700 | 703 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 2.000% | 10/1/17 (4) | 250 | 254 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 4.000% | 10/1/18 (4) | 300 | 322 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 8/1/19 | 350 | 394 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 8/1/20 | 500 | 580 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 10/1/20 (4) | 325 | 378 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 8/1/21 | 750 | 893 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 10/1/21 (4) | 300 | 357 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 8/1/22 | 1,315 | 1,599 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 10/1/22 (4) | 300 | 363 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 8/1/23 | 2,540 | 3,154 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 10/1/23 (4) | 500 | 613 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 8/1/24 | 1,000 | 1,264 |
| Placentia-Yorba Linda CA Unified School | ||||
| District GO | 5.000% | 8/1/25 | 1,775 | 2,273 |
| Pomona CA Single Family Mortgage Revenue | 7.600% | 5/1/23 (ETM) | 7,250 | 8,912 |
| Pomona CA Unified School District GO | 5.000% | 8/1/22 (15) | 440 | 534 |
| Pomona CA Unified School District GO | 5.000% | 8/1/26 (15) | 450 | 553 |
| Port of Oakland CA Revenue | 5.000% | 11/1/20 (14) | 4,825 | 5,118 |
| Port of Oakland CA Revenue | 5.000% | 11/1/26 (14) | 9,800 | 10,334 |
| Poway CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/22 | 2,215 | 2,675 |
| Poway CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 12/15/22 | 3,535 | 4,316 |
| Poway CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/23 | 3,325 | 4,103 |
| Poway CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 12/15/26 | 1,370 | 1,737 |
| Poway CA Unified School District GO | 4.000% | 9/1/16 | 250 | 252 |
93
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Poway CA Unified School District GO | 0.000% | 8/1/17 | 2,000 | 1,971 |
| Poway CA Unified School District GO | 4.000% | 9/1/17 | 250 | 259 |
| Poway CA Unified School District GO | 0.000% | 8/1/18 | 4,565 | 4,421 |
| Poway CA Unified School District GO | 4.000% | 9/1/18 | 450 | 477 |
| Poway CA Unified School District GO | 0.000% | 8/1/19 | 5,425 | 5,139 |
| Poway CA Unified School District GO | 5.000% | 9/1/19 | 980 | 1,091 |
| Poway CA Unified School District GO | 0.000% | 8/1/20 | 3,280 | 3,030 |
| Poway CA Unified School District GO | 5.000% | 9/1/20 | 610 | 695 |
| Poway CA Unified School District GO | 5.000% | 9/1/21 | 320 | 372 |
| Poway CA Unified School District GO | 5.000% | 9/1/22 | 455 | 538 |
| Poway CA Unified School District GO | 5.000% | 9/1/23 | 1,565 | 1,842 |
| Poway CA Unified School District GO | 5.000% | 8/1/26 | 5,125 | 5,981 |
| Poway CA Unified School District GO | 5.000% | 9/1/26 | 995 | 1,147 |
| Poway CA Unified School District GO | 5.000% | 8/1/27 | 1,625 | 2,028 |
| Poway CA Unified School District GO | 0.000% | 8/1/28 | 9,070 | 6,369 |
| Poway CA Unified School District GO | 5.000% | 9/1/29 | 1,200 | 1,367 |
| Poway CA Unified School District GO | 5.000% | 9/1/30 | 2,555 | 2,901 |
| Poway CA Unified School District GO | 0.000% | 8/1/31 | 1,095 | 691 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/22 (15) | 715 | 846 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 4.000% | 9/15/22 | 435 | 488 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/23 (15) | 1,180 | 1,416 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/24 (15) | 1,000 | 1,213 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/25 (15) | 775 | 951 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/26 (15) | 1,000 | 1,212 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/26 | 935 | 1,113 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/27 | 1,010 | 1,192 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/29 | 1,020 | 1,192 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/30 | 1,000 | 1,164 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/30 | 1,265 | 1,473 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/31 | 1,325 | 1,536 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/32 | 995 | 1,150 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/32 | 1,445 | 1,667 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/33 | 1,555 | 1,786 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/34 | 1,650 | 1,889 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/35 | 1,750 | 1,997 |
94
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Rancho Cucamonga CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Rancho Redevelopment Project) | 4.000% | 9/1/16 | 2,105 | 2,124 |
| Rancho Cucamonga CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Rancho Redevelopment Project) | 5.000% | 9/1/27 (4) | 1,700 | 2,070 |
| Rancho Cucamonga CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Rancho Redevelopment Project) | 5.000% | 9/1/28 (4) | 2,700 | 3,271 |
| Rancho Cucamonga CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Rancho Redevelopment Project) | 5.000% | 9/1/30 (4) | 1,500 | 1,803 |
| Rancho Cucamonga CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Rancho Redevelopment Project) | 5.000% | 9/1/31 (4) | 1,400 | 1,676 |
| Rancho Cucamonga CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Rancho Redevelopment Project) | 5.000% | 9/1/32 (4) | 1,710 | 2,041 |
| Rancho Mirage CA Joint Powers Financing | ||||
| Authority Revenue (Eisenhower Medical Center) | 5.000% | 7/1/27 | 12,000 | 12,444 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 4.000% | 6/1/23 | 325 | 372 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/24 | 300 | 367 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/25 | 375 | 464 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/26 | 675 | 831 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/27 | 1,000 | 1,220 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/28 | 1,000 | 1,214 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/30 | 775 | 937 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/32 | 475 | 569 |
| Redwood City CA Redevelopment Agency | ||||
| Redevelopment Project Area No. 2 Tax | ||||
| Allocation Revenue | 0.000% | 7/15/25 (2) | 3,350 | 2,534 |
| Rio CA Elementary School District Community | ||||
| Facilities District Special Tax Revenue | 5.000% | 9/1/27 | 1,000 | 1,172 |
| Rio CA Elementary School District Community | ||||
| Facilities District Special Tax Revenue | 5.000% | 9/1/28 | 1,000 | 1,167 |
| Rio CA Elementary School District Community | ||||
| Facilities District Special Tax Revenue | 5.000% | 9/1/30 | 1,000 | 1,156 |
| Rio CA Elementary School District Community | ||||
| Facilities District Special Tax Revenue | 5.000% | 9/1/35 | 2,300 | 2,606 |
| Rio Hondo CA Community College District GO | 0.000% | 8/1/31 | 2,000 | 1,232 |
| Riverside CA Community College District GO | 0.000% | 8/1/27 | 2,755 | 1,937 |
| Riverside CA Community College District GO | 0.000% | 8/1/28 | 1,650 | 1,093 |
| Riverside CA Community College District GO | 5.000% | 8/1/28 | 3,060 | 3,866 |
| Riverside CA Electric Revenue | 5.000% | 10/1/24 (4) | 1,000 | 1,094 |
| Riverside CA Electric Revenue | 5.000% | 10/1/25 (4) | 2,000 | 2,186 |
| Riverside CA Electric Revenue | 5.000% | 10/1/26 (4) | 2,500 | 2,731 |
95
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Riverside CA Electric Revenue | 5.000% | 10/1/27 (4) | 3,570 | 3,899 |
| Riverside CA Redevelopment Successor Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/29 | 1,265 | 1,545 |
| Riverside CA Redevelopment Successor Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/31 | 1,045 | 1,265 |
| Riverside CA Redevelopment Successor Agency | ||||
| Tax Allocation Revenue | 5.000% | 10/1/31 (4) | 2,930 | 3,512 |
| Riverside CA Redevelopment Successor Agency | ||||
| Tax Allocation Revenue | 5.000% | 10/1/32 (4) | 3,075 | 3,676 |
| Riverside CA Redevelopment Successor Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/33 | 1,055 | 1,270 |
| Riverside CA Redevelopment Successor Agency | ||||
| Tax Allocation Revenue | 5.000% | 10/1/33 (4) | 1,230 | 1,466 |
| Riverside CA Sewer Revenue | 5.000% | 8/1/20 | 1,635 | 1,890 |
| Riverside CA Sewer Revenue | 5.000% | 8/1/21 | 2,000 | 2,370 |
| Riverside CA Sewer Revenue | 5.000% | 8/1/22 | 2,160 | 2,610 |
| Riverside CA Sewer Revenue | 5.000% | 8/1/23 | 3,750 | 4,601 |
| Riverside CA Sewer Revenue | 5.000% | 8/1/24 | 2,000 | 2,487 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/19 | 1,220 | 1,358 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/20 | 1,280 | 1,457 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/23 | 1,410 | 1,686 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/25 | 1,555 | 1,833 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/26 | 1,615 | 1,890 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/27 | 1,710 | 1,991 |
| Riverside County CA Asset Leasing Corp. | ||||
| Leasehold Revenue (Riverside County Hospital | ||||
| Project) | 5.000% | 6/1/19 | 3,660 | 4,077 |
| Riverside County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/22 | 1,800 | 2,155 |
| Riverside County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/23 | 2,000 | 2,434 |
| Riverside County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/24 | 1,600 | 1,976 |
| Riverside County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/30 | 9,885 | 12,005 |
| Riverside County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/32 | 10,620 | 12,786 |
| Riverside County CA Public Financing Authority | ||||
| Tax Allocation Revenue | 3.000% | 9/1/17 | 1,635 | 1,681 |
| Riverside County CA Public Financing Authority | ||||
| Tax Allocation Revenue | 4.000% | 9/1/18 | 2,460 | 2,629 |
| Riverside County CA Public Financing Authority | ||||
| Tax Allocation Revenue | 4.000% | 9/1/19 | 2,560 | 2,797 |
| Riverside County CA Public Financing Authority | ||||
| Tax Allocation Revenue | 5.000% | 9/1/20 | 2,665 | 3,076 |
| Riverside County CA Public Financing Authority | ||||
| Tax Allocation Revenue | 5.000% | 9/1/21 (4) | 2,550 | 3,017 |
96
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Riverside County CA Public Financing Authority | ||||
| Tax Allocation Revenue | 5.000% | 9/1/22 (4) | 1,830 | 2,210 |
| Riverside County CA Public Financing Authority | ||||
| Tax Allocation Revenue | 5.000% | 9/1/23 (4) | 2,445 | 3,001 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 3.000% | 10/1/16 (4) | 300 | 302 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 4.000% | 10/1/17 (4) | 375 | 391 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 4.000% | 10/1/18 (4) | 500 | 536 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/19 (4) | 1,000 | 1,128 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/21 (4) | 1,150 | 1,362 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/22 (4) | 1,320 | 1,595 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/23 (4) | 1,905 | 2,339 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/24 (4) | 2,005 | 2,500 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/25 (4) | 1,440 | 1,813 |
| Riverside County CA Redevelopment Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/27 (4) | 1,160 | 1,434 |
| Riverside County CA Transportation Commission | ||||
| Sales Tax Revenue | 5.250% | 6/1/30 | 3,000 | 3,698 |
| Riverside County CA Transportation Commission | ||||
| Sales Tax Revenue | 5.250% | 6/1/31 | 4,000 | 4,913 |
| Riverside County CA Transportation Commission | ||||
| Sales Tax Revenue | 5.250% | 6/1/32 | 3,000 | 3,673 |
| Riverside County CA Transportation Commission | ||||
| Sales Tax Revenue | 5.250% | 6/1/33 | 2,000 | 2,442 |
| Riverside County CA Transportation Commission | ||||
| Toll Revenue | 0.000% | 6/1/22 | 2,500 | 2,027 |
| Riverside County CA Transportation Commission | ||||
| Toll Revenue | 0.000% | 6/1/23 | 3,630 | 2,816 |
| Riverside County CA Transportation Commission | ||||
| Toll Revenue | 0.000% | 6/1/24 | 6,985 | 5,191 |
| Riverside County CA Transportation Commission | ||||
| Toll Revenue | 0.000% | 6/1/31 | 5,000 | 2,708 |
| Riverside County CA Transportation Commission | ||||
| Toll Revenue | 0.000% | 6/1/32 | 4,000 | 2,079 |
| Riverside County CA Transportation Commission | ||||
| Toll Revenue | 0.000% | 6/1/33 | 5,500 | 2,740 |
| Riverside County CA Transportation Commission | ||||
| Toll Revenue | 0.000% | 6/1/34 | 3,500 | 1,671 |
| Rocklin CA Unified School District GO | 0.000% | 8/1/23 (14) | 7,030 | 6,078 |
| Rocklin CA Unified School District GO | 0.000% | 8/1/24 (14) | 2,965 | 2,492 |
| Roseville CA Financing Authority Electric System | ||||
| Revenue | 5.000% | 2/1/30 | 750 | 901 |
| Roseville CA Financing Authority Electric System | ||||
| Revenue | 5.000% | 2/1/30 | 6,120 | 6,863 |
| Roseville CA Financing Authority Electric System | ||||
| Revenue | 5.000% | 2/1/31 | 515 | 615 |
97
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Roseville CA Financing Authority Electric System | ||||
| Revenue | 5.000% | 2/1/32 | 1,290 | 1,537 |
| Roseville CA Financing Authority Electric System | ||||
| Revenue | 5.000% | 2/1/33 | 1,000 | 1,188 |
| Roseville CA Financing Authority Electric System | ||||
| Revenue | 5.000% | 2/1/34 | 2,000 | 2,369 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/18 | 4,205 | 4,443 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/19 | 10,000 | 10,827 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/20 | 2,160 | 2,391 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/24 | 600 | 705 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/27 | 200 | 241 |
| Roseville CA Special Tax Revenue | 5.000% | 9/1/20 | 1,055 | 1,218 |
| Roseville CA Special Tax Revenue | 5.000% | 9/1/21 | 500 | 592 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/22 (15) | 445 | 539 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/24 (15) | 300 | 376 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/26 (15) | 280 | 344 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/27 (15) | 425 | 518 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/28 (15) | 250 | 303 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/29 (15) | 500 | 604 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/31 (15) | 1,160 | 1,390 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/33 (15) | 1,280 | 1,526 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/34 (15) | 1,340 | 1,592 |
| Sacramento CA City Financing Authority Revenue | 5.000% | 12/1/19 | 3,990 | 4,523 |
| Sacramento CA City Financing Authority Revenue | 4.000% | 12/1/20 | 3,700 | 4,142 |
| Sacramento CA City Financing Authority Revenue | 5.000% | 12/1/20 | 2,000 | 2,326 |
| Sacramento CA City Financing Authority Revenue | 5.000% | 12/1/32 (15) | 1,200 | 1,449 |
| Sacramento CA City Financing Authority Revenue | 5.000% | 12/1/33 (15) | 1,725 | 2,076 |
| Sacramento CA City Unified School District GO | 5.000% | 7/1/20 (4) | 500 | 578 |
| Sacramento CA City Unified School District GO | 5.000% | 7/1/21 (4) | 400 | 475 |
| Sacramento CA City Unified School District GO | 5.000% | 7/1/22 (4) | 700 | 850 |
| Sacramento CA Cogeneration Authority Revenue | 5.000% | 7/1/17 | 1,250 | 1,309 |
98
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Sacramento CA Cogeneration Authority Revenue | 5.000% | 7/1/18 | 725 | 788 |
| Sacramento CA Cogeneration Authority Revenue | 5.000% | 7/1/19 | 1,155 | 1,296 |
| Sacramento CA Cogeneration Authority Revenue | 5.250% | 7/1/20 | 1,250 | 1,456 |
| Sacramento CA Cogeneration Authority Revenue | 5.250% | 7/1/21 | 1,000 | 1,196 |
| Sacramento CA Financing Authority Lease | ||||
| Revenue | 4.000% | 12/1/18 | 3,660 | 3,934 |
| Sacramento CA Financing Authority Lease | ||||
| Revenue | 5.000% | 12/1/18 | 2,000 | 2,199 |
| Sacramento CA Municipal Utility District Financing | ||||
| Authority Revenue | 5.000% | 7/1/20 | 1,405 | 1,631 |
| Sacramento CA Municipal Utility District Financing | ||||
| Authority Revenue (Cosumnes Project) | 4.750% | 7/1/16 (Prere.) | 1,500 | 1,505 |
| Sacramento CA Municipal Utility District Financing | ||||
| Authority Revenue (Cosumnes Project) | 5.000% | 7/1/16 (Prere.) | 7,710 | 7,738 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 7/1/16 (Prere.) | 4,000 | 4,015 |
| Sacramento CA Municipal Utility District Revenue | 5.250% | 7/1/24 (2) | 10,085 | 12,307 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 8/15/24 (4) | 7,550 | 8,247 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 8/15/25 | 5,455 | 6,666 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 8/15/25 (4) | 15,275 | 16,675 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 8/15/26 (4) | 5,000 | 5,451 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 8/15/27 | 4,905 | 6,066 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 8/15/28 | 2,000 | 2,458 |
| Sacramento CA Municipal Utility District Revenue | 5.000% | 8/15/30 | 6,435 | 7,733 |
| Sacramento CA Regional Transit District Farebox | ||||
| Revenue | 5.000% | 3/1/22 | 1,085 | 1,232 |
| Sacramento CA Regional Transit District Farebox | ||||
| Revenue | 5.000% | 3/1/28 | 2,500 | 2,819 |
| Sacramento CA Regional Transit District Farebox | ||||
| Revenue | 5.000% | 3/1/29 | 2,635 | 2,997 |
| Sacramento CA Regional Transit District Farebox | ||||
| Revenue | 5.000% | 3/1/30 | 2,975 | 3,383 |
| Sacramento CA Regional Transit District Farebox | ||||
| Revenue | 5.000% | 3/1/31 | 3,125 | 3,554 |
| Sacramento CA Transportation Authority Sales | ||||
| Tax Revenue | 5.000% | 10/1/21 | 2,300 | 2,741 |
| Sacramento CA Unified School District GO | 2.000% | 8/1/18 (4) | 1,545 | 1,582 |
| Sacramento CA Unified School District GO | 3.000% | 8/1/19 (4) | 1,215 | 1,289 |
| Sacramento CA Unified School District GO | 3.000% | 8/1/20 (4) | 1,000 | 1,074 |
| Sacramento CA Unified School District GO | 4.000% | 8/1/21 (4) | 1,000 | 1,134 |
| Sacramento CA Unified School District GO | 4.000% | 8/1/22 (4) | 750 | 863 |
| Sacramento CA Unified School District GO | 5.000% | 8/1/23 (4) | 1,105 | 1,358 |
| Sacramento CA Water Revenue | 5.000% | 9/1/27 | 3,210 | 3,946 |
| Sacramento County CA Airport Revenue | 5.000% | 7/1/23 (4) | 2,000 | 2,167 |
| Sacramento County CA Airport Revenue | 5.000% | 7/1/24 (4) | 1,785 | 1,930 |
| Sacramento County CA Airport Revenue | 5.000% | 7/1/24 (4) | 2,500 | 2,706 |
| Sacramento County CA Airport Revenue | 5.000% | 7/1/28 | 1,250 | 1,417 |
| Sacramento County CA Airport Revenue | 5.000% | 7/1/30 | 5,240 | 6,003 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 6/1/16 (Prere.) | 7,030 | 7,030 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 6/1/16 (Prere.) | 5,495 | 5,495 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 6/1/16 (Prere.) | 1,850 | 1,850 |
| San Bernardino CA City Unified School | ||||
| District GO | 5.000% | 8/1/18 | 2,350 | 2,556 |
99
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Bernardino CA City Unified School | ||||
| District GO | 5.000% | 8/1/20 (4) | 765 | 885 |
| San Bernardino CA City Unified School | ||||
| District GO | 5.000% | 8/1/21 (4) | 1,230 | 1,458 |
| San Bernardino CA City Unified School | ||||
| District GO | 5.000% | 8/1/22 (4) | 1,500 | 1,815 |
| San Bernardino CA City Unified School | ||||
| District GO | 5.000% | 8/1/23 (4) | 1,100 | 1,354 |
| San Bernardino CA City Unified School | ||||
| District GO | 5.000% | 8/1/24 (4) | 1,400 | 1,721 |
| San Bernardino CA Community College | ||||
| District GO | 5.000% | 8/1/16 (Prere.) | 12,000 | 12,088 |
| San Bernardino CA Community College | ||||
| District GO | 5.000% | 8/1/24 | 4,375 | 5,437 |
| San Bernardino CA Community College | ||||
| District GO | 5.000% | 8/1/25 | 4,550 | 5,620 |
| San Bernardino CA Community College | ||||
| District GO | 5.000% | 8/1/26 | 4,150 | 5,088 |
| San Bernardino CA Community College | ||||
| District GO | 0.000% | 8/1/29 | 1,000 | 646 |
| San Bernardino CA Community College | ||||
| District GO | 5.000% | 8/1/29 | 5,000 | 6,260 |
| San Bernardino CA Community College | ||||
| District GO | 0.000% | 8/1/30 | 1,100 | 673 |
| San Bernardino CA Community College | ||||
| District GO | 0.000% | 8/1/31 | 1,000 | 581 |
| San Bernardino CA Community College | ||||
| District GO | 5.000% | 8/1/31 | 8,370 | 10,368 |
| San Bernardino CA Community College | ||||
| District GO | 0.000% | 8/1/32 | 1,100 | 606 |
| San Bernardino CA Community College | ||||
| District GO | 0.000% | 8/1/33 | 1,165 | 609 |
| San Bernardino County CA Medical Center COP | 5.500% | 8/1/17 (14) | 1,530 | 1,568 |
| San Bernardino County CA Medical Center COP | 6.500% | 8/1/17 (14) | 1,670 | 1,722 |
| San Bernardino County CA Medical Center COP | 5.500% | 8/1/22 (14) | 8,940 | 10,310 |
| San Bernardino County CA Transportation | ||||
| Authority Revenue | 5.000% | 3/1/31 | 3,355 | 3,961 |
| San Diego CA Community College District GO | 5.000% | 8/1/28 | 4,000 | 4,824 |
| San Diego CA Community College District GO | 5.000% | 8/1/29 | 5,000 | 5,892 |
| San Diego CA Community College District GO | 5.000% | 8/1/30 | 1,250 | 1,532 |
| San Diego CA Community College District GO | 5.000% | 8/1/30 | 8,670 | 10,186 |
| San Diego CA Community College District GO | 5.000% | 8/1/30 | 9,830 | 11,472 |
| San Diego CA Community College District GO | 5.000% | 8/1/31 | 1,000 | 1,222 |
| San Diego CA Community College District GO | 5.000% | 8/1/31 | 3,380 | 3,935 |
| San Diego CA Community College District GO | 5.000% | 8/1/32 | 2,150 | 2,617 |
| San Diego CA Community College District GO | 5.000% | 8/1/32 (4) | 6,100 | 6,403 |
| San Diego CA Community College District GO | 5.000% | 8/1/32 | 2,000 | 2,323 |
| San Diego CA Community Facilities District No. 1 | ||||
| (Miramar Ranch North) Special Tax Revenue | 4.000% | 9/1/17 | 500 | 518 |
| San Diego CA Community Facilities District No. 1 | ||||
| (Miramar Ranch North) Special Tax Revenue | 4.000% | 9/1/18 | 3,260 | 3,463 |
| San Diego CA Community Facilities District No. 1 | ||||
| (Miramar Ranch North) Special Tax Revenue | 5.000% | 9/1/20 | 3,465 | 3,945 |
100
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/19 (Prere.) | 1,825 | 2,045 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/19 (Prere.) | 6,000 | 6,722 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/19 (Prere.) | 3,000 | 3,361 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.250% | 5/15/19 (Prere.) | 2,000 | 2,255 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/20 | 9,685 | 11,188 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.250% | 5/15/20 (Prere.) | 5,000 | 5,815 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/21 | 5,000 | 5,933 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/23 | 10,000 | 12,418 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/34 | 5,000 | 6,225 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/35 | 5,000 | 6,195 |
| San Diego CA Public Facilities Financing Authority | ||||
| Sewer Revenue | 5.000% | 5/15/36 | 5,000 | 6,165 |
| 4 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/21 | 10,000 | 11,876 |
| 4 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/22 | 3,200 | 3,888 |
| 4 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/23 | 6,120 | 7,578 |
| 4 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/24 | 10,010 | 12,601 |
| 4 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/25 | 4,000 | 5,097 |
| 4 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/26 | 10,680 | 13,740 |
| 4 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/27 | 11,760 | 15,014 |
| San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/27 | 4,215 | 4,747 |
| San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.125% | 8/1/28 | 5,000 | 5,644 |
| San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.250% | 8/1/28 | 5,355 | 6,199 |
| San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/30 | 2,000 | 2,419 |
| San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue | 5.000% | 8/1/32 | 4,190 | 5,021 |
| 3 San Diego CA Public Facilities Financing Authority | ||||
| Water Revenue TOB VRDO | 0.430% | 6/7/16 | 9,905 | 9,905 |
| San Diego CA Redevelopment Agency Tax | ||||
| Allocation | 4.000% | 9/1/18 | 2,950 | 3,159 |
| San Diego CA Redevelopment Agency Tax | ||||
| Allocation | 5.000% | 9/1/19 | 1,000 | 1,130 |
| San Diego CA Redevelopment Agency Tax | ||||
| Allocation | 5.000% | 9/1/20 | 1,000 | 1,163 |
101
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Diego CA Redevelopment Agency Tax | ||||
| Allocation | 5.000% | 9/1/21 | 2,000 | 2,384 |
| San Diego CA Redevelopment Agency Tax | ||||
| Allocation | 5.000% | 9/1/22 | 1,000 | 1,216 |
| San Diego CA Redevelopment Agency Tax | ||||
| Allocation | 5.000% | 9/1/23 | 1,000 | 1,239 |
| San Diego CA Unified School District GO | 3.000% | 7/1/17 | 14,500 | 14,872 |
| San Diego CA Unified School District GO | 0.000% | 7/1/18 (14) | 9,500 | 9,253 |
| San Diego CA Unified School District GO | 5.500% | 7/1/20 (4) | 9,490 | 11,203 |
| San Diego CA Unified School District GO | 5.000% | 7/1/21 | 15,000 | 17,876 |
| San Diego CA Unified School District GO | 5.000% | 7/1/22 | 1,500 | 1,830 |
| San Diego CA Unified School District GO | 5.500% | 7/1/22 (4) | 12,790 | 15,994 |
| San Diego CA Unified School District GO | 5.000% | 7/1/23 | 1,925 | 2,400 |
| San Diego CA Unified School District GO | 4.000% | 7/1/24 | 4,000 | 4,777 |
| San Diego CA Unified School District GO | 5.000% | 7/1/24 | 1,735 | 2,204 |
| San Diego CA Unified School District GO | 4.000% | 7/1/25 | 2,500 | 3,009 |
| San Diego CA Unified School District GO | 5.000% | 7/1/25 | 1,695 | 2,183 |
| San Diego CA Unified School District GO | 5.500% | 7/1/25 (14) | 1,000 | 1,339 |
| San Diego CA Unified School District GO | 0.000% | 7/1/26 | 8,425 | 6,558 |
| San Diego CA Unified School District GO | 5.000% | 7/1/26 | 20,000 | 25,582 |
| San Diego CA Unified School District GO | 5.500% | 7/1/26 (4) | 7,490 | 9,954 |
| San Diego CA Unified School District GO | 5.500% | 7/1/26 (4) | 20,885 | 27,755 |
| San Diego CA Unified School District GO | 0.000% | 7/1/27 | 8,500 | 6,297 |
| San Diego CA Unified School District GO | 0.000% | 7/1/28 | 8,000 | 5,714 |
| San Diego CA Unified School District GO | 5.000% | 7/1/28 | 700 | 882 |
| San Diego CA Unified School District GO | 0.000% | 7/1/29 | 3,250 | 2,217 |
| San Diego CA Unified School District GO | 5.000% | 7/1/29 | 3,230 | 4,107 |
| San Diego CA Unified School District GO | 5.000% | 7/1/29 | 750 | 940 |
| San Diego CA Unified School District GO | 0.000% | 7/1/30 | 9,985 | 6,533 |
| San Diego CA Unified School District GO | 0.000% | 7/1/30 | 2,500 | 1,636 |
| San Diego CA Unified School District GO | 5.000% | 7/1/31 | 1,200 | 1,489 |
| San Diego CA Unified School District GO | 4.000% | 7/1/32 | 1,000 | 1,138 |
| San Diego CA Unified School District GO | 4.000% | 7/1/33 | 2,000 | 2,267 |
| San Diego CA Unified School District GO | 4.000% | 7/1/34 | 3,000 | 3,384 |
| San Diego CA Unified School District GO | 4.000% | 7/1/35 | 3,500 | 3,927 |
| San Diego County CA COP | 5.000% | 10/15/24 | 2,115 | 2,679 |
| San Diego County CA COP | 5.000% | 10/15/25 | 5,225 | 6,574 |
| San Diego County CA COP | 5.000% | 10/15/26 | 2,590 | 3,262 |
| San Diego County CA COP | 5.000% | 10/15/27 | 2,000 | 2,507 |
| San Diego County CA COP | 5.000% | 10/15/28 | 1,400 | 1,743 |
| San Diego County CA COP | 5.000% | 10/15/29 | 2,000 | 2,490 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 3.000% | 11/1/16 | 2,195 | 2,219 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 4.000% | 11/1/17 | 510 | 533 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 5.000% | 11/1/18 | 460 | 505 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 5.000% | 11/1/19 | 480 | 543 |
102
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 5.000% | 11/1/22 | 425 | 515 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 4.000% | 11/1/23 | 950 | 1,102 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 5.000% | 11/1/24 | 750 | 937 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 5.000% | 11/1/26 | 1,145 | 1,432 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 5.000% | 11/1/28 | 1,450 | 1,791 |
| San Diego County CA Limited Obligation | ||||
| Revenue (Sanford Burnham Prebys Medical | ||||
| Discovery Institute) | 5.000% | 11/1/30 | 1,205 | 1,471 |
| San Diego County CA Regional Airport Authority | ||||
| Revenue | 5.000% | 7/1/23 | 3,900 | 4,503 |
| San Diego County CA Regional Airport Authority | ||||
| Revenue | 5.000% | 7/1/25 | 9,000 | 10,328 |
| San Diego County CA Regional Airport Authority | ||||
| Revenue | 5.000% | 7/1/26 | 6,000 | 6,868 |
| San Diego County CA Regional Airport Authority | ||||
| Revenue | 5.000% | 7/1/28 | 3,000 | 3,430 |
| San Diego County CA Regional Building Authority | ||||
| Lease Revenue (County Operations Center & | ||||
| Annex Redevelopment Project) | 5.000% | 2/1/19 (Prere.) | 4,285 | 4,755 |
| San Diego County CA Regional Building Authority | ||||
| Lease Revenue (County Operations Center & | ||||
| Annex Redevelopment Project) | 5.000% | 2/1/19 (Prere.) | 4,820 | 5,349 |
| San Diego County CA Regional Building Authority | ||||
| Lease Revenue (County Operations Center & | ||||
| Annex Redevelopment Project) | 5.000% | 2/1/19 (Prere.) | 2,420 | 2,685 |
| San Diego County CA Regional Building Authority | ||||
| Lease Revenue (County Operations Center & | ||||
| Annex Redevelopment Project) | 5.250% | 2/1/19 (Prere.) | 1,140 | 1,273 |
| San Diego County CA Regional Building Authority | ||||
| Lease Revenue (County Operations Center & | ||||
| Annex Redevelopment Project) | 5.500% | 2/1/19 (Prere.) | 5,780 | 6,490 |
| San Diego County CA Water Authority Financing | ||||
| Agency Water Revenue | 5.000% | 5/1/27 | 2,000 | 2,271 |
| San Diego County CA Water Authority Revenue | 5.000% | 5/1/30 | 5,000 | 5,789 |
| San Diego County CA Water Authority Revenue | ||||
| COP | 5.250% | 5/1/21 (14) | 6,725 | 7,998 |
| San Diego County CA Water Authority Revenue | ||||
| COP | 5.250% | 5/1/22 (14) | 7,075 | 8,621 |
| 3 San Diego County CA Water Authority Revenue | ||||
| COP TOB VRDO | 0.430% | 6/7/16 | 6,315 | 6,315 |
| San Francisco CA Bay Area Rapid Transit | ||||
| District GO | 5.000% | 8/1/17 (Prere.) | 10,000 | 10,503 |
| San Francisco CA Bay Area Rapid Transit | ||||
| District GO | 5.000% | 8/1/17 (Prere.) | 15,500 | 16,280 |
103
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA Bay Area Rapid Transit | ||||
| District GO | 5.000% | 8/1/28 | 1,685 | 2,131 |
| San Francisco CA Bay Area Rapid Transit | ||||
| District GO | 4.000% | 8/1/34 | 6,580 | 7,476 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 4.000% | 7/1/18 | 3,000 | 3,203 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/20 | 1,040 | 1,206 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/23 | 1,070 | 1,310 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/23 | 9,560 | 11,038 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/27 | 5,350 | 6,802 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/28 | 2,500 | 3,160 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/29 | 2,555 | 3,058 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/30 | 2,800 | 3,327 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/31 | 2,215 | 2,764 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/32 | 1,625 | 2,020 |
| San Francisco CA Bay Area Rapid Transit District | ||||
| Sales Tax Revenue | 5.000% | 7/1/33 | 1,500 | 1,858 |
| San Francisco CA City & County (Earthquake | ||||
| Safety & Emergency Response) GO | 5.000% | 6/15/23 | 2,220 | 2,701 |
| San Francisco CA City & County (Earthquake | ||||
| Safety & Emergency Response) GO | 5.000% | 6/15/23 | 4,070 | 4,953 |
| San Francisco CA City & County (Earthquake | ||||
| Safety & Emergency Response) GO | 5.000% | 6/15/24 | 2,335 | 2,854 |
| San Francisco CA City & County (Earthquake | ||||
| Safety & Emergency Response) GO | 5.000% | 6/15/24 | 4,270 | 5,219 |
| San Francisco CA City & County (Earthquake | ||||
| Safety & Emergency Response) GO | 5.000% | 6/15/25 | 2,450 | 2,988 |
| San Francisco CA City & County (Earthquake | ||||
| Safety & Emergency Response) GO | 5.000% | 6/15/25 | 4,485 | 5,469 |
| San Francisco CA City & County COP | 4.000% | 9/1/30 | 5,215 | 5,796 |
| San Francisco CA City & County COP | 4.000% | 9/1/31 | 5,100 | 5,647 |
| San Francisco CA City & County COP | 4.000% | 9/1/32 | 5,680 | 6,261 |
| San Francisco CA City & County COP | 4.000% | 9/1/35 | 5,170 | 5,635 |
| San Francisco CA City & County GO | 5.000% | 6/15/17 | 10,000 | 10,461 |
| San Francisco CA City & County GO | 5.000% | 6/15/19 | 1,045 | 1,175 |
| San Francisco CA City & County GO | 5.000% | 6/15/20 | 500 | 579 |
| San Francisco CA City & County GO | 5.000% | 6/15/21 | 7,450 | 8,868 |
| San Francisco CA City & County GO | 5.000% | 6/15/22 | 2,595 | 3,152 |
| San Francisco CA City & County GO | 5.000% | 6/15/23 | 4,000 | 4,859 |
| San Francisco CA City & County GO | 5.000% | 6/15/26 | 3,995 | 4,934 |
| San Francisco CA City & County GO | 5.000% | 6/15/27 | 5,785 | 7,116 |
| San Francisco CA City & County GO | 4.000% | 6/15/28 | 4,190 | 4,761 |
| San Francisco CA City & County GO | 4.000% | 6/15/29 | 4,545 | 5,143 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/18 (4) | 1,000 | 1,082 |
104
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/18 | 2,000 | 2,164 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.250% | 5/1/18 (Prere.) | 22,000 | 23,911 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.250% | 5/1/20 (14) | 5,000 | 5,818 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/21 | 5,000 | 5,779 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/21 | 5,000 | 5,924 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/22 | 5,000 | 5,774 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/22 | 6,000 | 7,281 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 4.000% | 5/1/23 | 7,400 | 8,641 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/23 | 5,000 | 6,189 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 4.000% | 5/1/24 | 5,750 | 6,788 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/24 | 1,800 | 2,269 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 4.000% | 5/1/25 | 3,625 | 4,306 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/25 | 2,050 | 2,618 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/28 | 2,855 | 3,367 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/28 | 7,500 | 9,011 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 4.900% | 5/1/29 | 8,625 | 9,691 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/30 | 5,940 | 6,862 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/31 | 6,230 | 7,197 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/26 | 5,865 | 7,504 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/26 | 1,795 | 2,297 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/27 | 1,885 | 2,391 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/30 | 13,170 | 15,830 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/34 | 9,495 | 11,709 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/35 | 9,980 | 12,288 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/36 | 10,495 | 12,873 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 3.000% | 11/1/18 | 1,400 | 1,473 |
105
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/19 | 1,000 | 1,138 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/19 (Prere.) | 440 | 500 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/20 | 2,000 | 2,341 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/21 | 1,100 | 1,323 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/22 | 900 | 1,108 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/23 | 4,175 | 5,237 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/24 | 4,500 | 5,748 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/25 | 6,000 | 7,667 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/26 | 2,555 | 2,904 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/27 | 7,755 | 9,707 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/27 | 1,000 | 1,262 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 10/1/28 | 10,235 | 12,390 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/28 | 5,355 | 6,668 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/28 | 1,000 | 1,134 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/29 | 12,685 | 15,736 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/29 | 6,530 | 7,817 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/29 | 11,000 | 13,142 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/29 | 2,960 | 3,352 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/29 | 10,000 | 11,324 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/30 | 10,335 | 12,271 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/30 | 2,705 | 3,066 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 10/1/31 | 14,015 | 16,781 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/31 | 1,000 | 1,240 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/31 | 5,730 | 6,862 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/32 | 2,625 | 3,219 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/33 | 9,000 | 10,732 |
106
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/34 | 5,000 | 5,941 |
| San Francisco CA City & County Redevelopment | ||||
| Agency Community Facilities District No. 7 | ||||
| Special Tax Revenue (Hunters Point Shipyard | ||||
| Improvements) | 5.000% | 8/1/30 | 525 | 594 |
| San Francisco CA City & County Redevelopment | ||||
| Agency Community Facilities District No. 7 | ||||
| Special Tax Revenue (Hunters Point Shipyard | ||||
| Improvements) | 5.000% | 8/1/33 | 680 | 759 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/17 | 100 | 105 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/19 | 220 | 247 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/20 | 130 | 150 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/21 | 160 | 189 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/22 | 125 | 151 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/23 | 120 | 147 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/24 | 135 | 167 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/24 | 275 | 344 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/24 | 860 | 1,068 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/24 | 440 | 546 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/25 | 240 | 294 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/25 | 400 | 506 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/25 | 400 | 502 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/26 | 500 | 637 |
107
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/26 | 1,405 | 1,776 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/27 | 140 | 168 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/27 | 500 | 632 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/27 | 500 | 627 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/28 | 710 | 892 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/29 | 460 | 546 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/29 | 745 | 931 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/30 | 550 | 683 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/31 | 400 | 472 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/31 | 710 | 877 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/32 | 525 | 618 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/32 | 1,000 | 1,218 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/32 | 450 | 548 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/32 | 860 | 1,059 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/33 | 660 | 801 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/33 | 345 | 419 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/33 | 750 | 920 |
108
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/34 | 225 | 263 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/34 | 700 | 849 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/34 | 660 | 801 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/34 | 555 | 679 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/35 | 400 | 483 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/35 | 900 | 1,086 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/35 | 595 | 724 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/36 | 625 | 752 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/36 | 350 | 421 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/36 | 780 | 945 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Redevelopment Projects) | 5.000% | 8/1/21 | 2,000 | 2,368 |
| San Francisco CA City & County Unified School | ||||
| District GO | 5.000% | 6/15/24 | 1,080 | 1,371 |
| San Francisco CA City & County Unified School | ||||
| District GO | 5.000% | 6/15/27 | 6,445 | 7,969 |
| San Francisco CA City & County Unified School | ||||
| District GO | 5.000% | 6/15/28 | 10,170 | 12,511 |
| San Francisco CA City & County Unified School | ||||
| District GO | 4.000% | 6/15/30 | 2,470 | 2,647 |
| San Francisco CA City & County Unified School | ||||
| District GO | 5.000% | 6/15/31 | 7,965 | 9,094 |
| San Francisco CA City & County Unified School | ||||
| District GO | 4.000% | 6/15/32 | 5,300 | 5,815 |
| San Francisco CA Community College | ||||
| District GO | 3.000% | 6/15/17 | 11,380 | 11,658 |
| San Francisco CA Municipal Transportation | ||||
| Agency Revenue | 5.000% | 3/1/29 | 1,585 | 1,915 |
| San Francisco CA Municipal Transportation | ||||
| Agency Revenue | 5.000% | 3/1/32 | 2,170 | 2,603 |
| San Francisco CA Municipal Transportation | ||||
| Agency Revenue | 5.000% | 3/1/33 | 3,025 | 3,621 |
109
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA Municipal Transportation | ||||
| Agency Revenue | 5.000% | 3/1/34 | 1,640 | 1,982 |
| San Joaquin County CA Delta Community | ||||
| College District Election GO | 0.000% | 8/1/26 (4) | 15,500 | 9,674 |
| San Joaquin County CA Delta Community | ||||
| College District Election GO | 0.000% | 8/1/27 (4) | 15,500 | 9,109 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 5.000% | 1/15/17 | 1,500 | 1,539 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 0.000% | 1/1/23 (ETM) | 16,000 | 14,378 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 0.000% | 1/15/24 (14) | 7,000 | 5,680 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 0.000% | 1/1/25 (ETM) | 14,750 | 12,680 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 5.000% | 1/15/29 | 4,375 | 4,964 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 5.000% | 1/15/34 | 2,435 | 2,758 |
| San Jose CA Airport Revenue | 5.000% | 3/1/24 (2) | 2,035 | 2,101 |
| San Jose CA Airport Revenue | 5.000% | 3/1/25 (2) | 3,385 | 3,493 |
| San Jose CA Airport Revenue | 5.000% | 3/1/26 (2) | 3,850 | 3,970 |
| San Jose CA Airport Revenue | 5.000% | 3/1/26 | 4,610 | 5,370 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/19 (14) | 1,150 | 1,167 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/20 (2) | 8,000 | 8,361 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/21 (2) | 2,495 | 2,607 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/21 | 1,270 | 1,443 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/22 (2) | 5,100 | 5,319 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 4.250% | 8/1/23 (10) | 50 | 51 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/23 | 1,140 | 1,292 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/24 (14) | 16,360 | 17,148 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/25 (14) | 11,505 | 12,051 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.125% | 8/1/25 | 570 | 647 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.250% | 8/1/26 | 800 | 910 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.375% | 8/1/29 | 1,355 | 1,538 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Merged Area | ||||
| Redevelopment Project) | 5.000% | 8/1/16 (2) | 1,000 | 1,007 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Merged Area | ||||
| Redevelopment Project) | 5.000% | 8/1/17 (14) | 600 | 602 |
110
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Merged Area | ||||
| Redevelopment Project) | 4.500% | 8/1/21 (2) | 1,000 | 1,037 |
| San Jose CA Special Hotel Tax Revenue | ||||
| (Convention Center Expansion & Renovation | ||||
| Project) | 6.125% | 5/1/31 | 5,000 | 5,960 |
| San Jose CA Unified School District Santa Clara | ||||
| County GO | 5.000% | 8/1/19 | 1,000 | 1,131 |
| San Jose CA Unified School District Santa Clara | ||||
| County GO | 5.000% | 8/1/20 | 1,000 | 1,166 |
| San Juan CA Unified School District GO | 0.000% | 8/1/25 (4) | 10,000 | 8,129 |
| San Juan CA Unified School District GO | 0.000% | 8/1/26 (4) | 12,215 | 9,597 |
| San Luis & Delta Mendota CA Water Authority | ||||
| Revenue | 5.000% | 3/1/24 (15) | 855 | 1,028 |
| San Luis & Delta Mendota CA Water Authority | ||||
| Revenue | 5.000% | 3/1/25 (15) | 970 | 1,162 |
| San Luis & Delta Mendota CA Water Authority | ||||
| Revenue | 5.000% | 3/1/26 (15) | 500 | 594 |
| San Luis & Delta Mendota CA Water Authority | ||||
| Revenue | 5.000% | 3/1/27 (15) | 1,070 | 1,264 |
| San Luis & Delta Mendota CA Water Authority | ||||
| Revenue | 5.000% | 3/1/28 (15) | 600 | 706 |
| San Luis & Delta Mendota CA Water Authority | ||||
| Revenue | 5.000% | 3/1/33 (15) | 2,790 | 3,230 |
| San Marcos CA Unified School District GO | 0.000% | 8/1/25 | 2,300 | 1,851 |
| San Marcos CA Unified School District GO | 0.000% | 8/1/30 | 2,000 | 1,316 |
| San Marcos CA Unified School District GO | 0.000% | 8/1/31 | 2,000 | 1,273 |
| San Marcos CA Unified School District GO | 0.000% | 8/1/32 | 2,500 | 1,508 |
| San Mateo CA Union High School District GO | 0.000% | 9/1/24 | 5,390 | 4,454 |
| San Mateo CA Union High School District GO | 5.000% | 9/1/30 | 2,600 | 3,193 |
| San Mateo CA Union High School District GO | 5.000% | 9/1/31 | 1,440 | 1,763 |
| San Mateo CA Union High School District GO | 4.000% | 9/1/32 | 3,155 | 3,594 |
| San Mateo County CA Community College | ||||
| District GO | 5.000% | 9/1/16 (Prere.) | 3,170 | 3,205 |
| San Mateo County CA Community College | ||||
| District GO | 0.000% | 9/1/21 (14) | 4,645 | 4,314 |
| San Mateo County CA Community College | ||||
| District GO | 0.000% | 9/1/22 (14) | 5,675 | 5,136 |
| San Mateo County CA Community College | ||||
| District GO | 0.000% | 9/1/24 (14) | 2,825 | 2,412 |
| San Mateo County CA Community College | ||||
| District GO | 0.000% | 9/1/25 (14) | 4,000 | 3,328 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Maple Street | ||||
| Correctional Center) | 5.000% | 6/15/23 | 1,000 | 1,239 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Maple Street | ||||
| Correctional Center) | 5.000% | 6/15/27 | 2,000 | 2,480 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 4.000% | 7/15/18 | 2,110 | 2,255 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 4.625% | 7/15/18 (Prere.) | 2,455 | 2,658 |
111
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 5.250% | 7/15/18 (Prere.) | 2,000 | 2,192 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 4.000% | 7/15/19 | 3,250 | 3,562 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 4.000% | 7/15/20 | 3,095 | 3,466 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 4.000% | 7/15/21 | 1,000 | 1,140 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 5.000% | 7/15/22 | 1,245 | 1,515 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 5.000% | 7/15/23 | 1,505 | 1,867 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 4.000% | 7/15/33 | 5,000 | 5,657 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 4.000% | 6/1/20 | 770 | 859 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 5.000% | 6/1/20 | 750 | 869 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 5.000% | 6/1/21 | 1,000 | 1,191 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 4.000% | 6/1/22 | 600 | 695 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 5.000% | 6/1/22 | 750 | 916 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 4.000% | 6/1/23 | 1,520 | 1,786 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 5.000% | 6/1/23 | 840 | 1,048 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 4.000% | 6/1/24 | 750 | 892 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 5.000% | 6/1/24 | 1,200 | 1,525 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 5.000% | 6/1/25 | 1,200 | 1,549 |
| San Mateo County CA Transportation Authority | ||||
| Revenue | 5.000% | 6/1/31 | 1,365 | 1,701 |
| San Mateo-Foster City CA School District GO | 4.000% | 8/1/19 | 1,000 | 1,098 |
| San Mateo-Foster City CA School District GO | 4.000% | 8/1/34 | 1,580 | 1,779 |
| San Pablo CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 4.000% | 6/15/18 (4) | 925 | 983 |
| San Pablo CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/22 (4) | 1,000 | 1,203 |
| San Pablo CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/23 (4) | 1,200 | 1,467 |
| San Pablo CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/27 (4) | 1,770 | 2,148 |
112
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Pablo CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/28 (4) | 1,860 | 2,246 |
| San Pablo CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/30 (4) | 2,275 | 2,724 |
| San Ramon CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 2/1/25 (15) | 1,520 | 1,888 |
| San Ramon CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 2/1/26 (15) | 1,595 | 1,960 |
| San Ramon CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 2/1/27 (15) | 1,670 | 2,033 |
| San Ramon Valley CA Unified School District GO | 4.000% | 8/1/32 | 2,000 | 2,257 |
| Santa Ana CA Community Redevelopment | ||||
| Agency Tax Allocation Revenue (South Main | ||||
| Street) | 5.000% | 9/1/18 (14) | 2,685 | 2,695 |
| Santa Ana CA Unified School District GO | 0.000% | 8/1/31 (14) | 3,775 | 2,325 |
| Santa Clara CA Electric Revenue | 5.000% | 7/1/30 | 1,000 | 1,157 |
| Santa Clara CA Electric Revenue | 5.250% | 7/1/32 | 2,500 | 2,940 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/21 | 2,290 | 2,729 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/22 | 2,060 | 2,513 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/23 | 2,185 | 2,724 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/25 | 3,120 | 3,931 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/25 | 3,595 | 4,529 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/28 | 3,775 | 4,321 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/29 | 4,115 | 4,688 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/30 | 4,405 | 5,065 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/31 | 4,715 | 5,422 |
| Santa Clara County CA East Side Union High | ||||
| School District GO | 5.000% | 8/1/17 | 5,410 | 5,683 |
| Santa Clara County CA East Side Union High | ||||
| School District GO | 5.000% | 8/1/18 | 5,690 | 6,202 |
| Santa Clara County CA Financing Authority Lease | ||||
| Revenue (Multiple Facilities Projects) | 5.000% | 11/15/17 | 11,540 | 12,266 |
| Santa Clara County CA Financing Authority Lease | ||||
| Revenue (Multiple Facilities Projects) | 5.000% | 5/15/20 | 4,140 | 4,779 |
| Santa Clara County CA Financing Authority Lease | ||||
| Revenue (Multiple Facilities Projects) | 5.000% | 5/15/21 | 5,770 | 6,828 |
| Santa Clara County CA Financing Authority Lease | ||||
| Revenue (Multiple Facilities Projects) | 5.000% | 5/15/22 | 6,060 | 7,320 |
| Santa Clara County CA Financing Authority Lease | ||||
| Revenue (Multiple Facilities Projects) | 5.000% | 5/15/28 | 10,000 | 10,738 |
| Santa Clara County CA Financing Authority Lease | ||||
| Revenue (Multiple Facilities Projects) | 5.250% | 5/15/36 | 7,000 | 7,535 |
| 4 Santa Clara County CA Financing Authority | ||||
| Revenue | 5.000% | 5/15/22 | 4,090 | 4,938 |
| 4 Santa Clara County CA Financing Authority | ||||
| Revenue | 5.000% | 5/15/23 | 4,280 | 5,280 |
| 4 Santa Clara County CA Financing Authority | ||||
| Revenue | 5.000% | 5/15/24 | 6,260 | 7,861 |
| 4 Santa Clara County CA Financing Authority | ||||
| Revenue | 5.000% | 5/15/25 | 6,510 | 8,276 |
| 4 Santa Clara County CA Financing Authority | ||||
| Revenue | 5.000% | 5/15/26 | 6,800 | 8,582 |
| Santa Clara County CA GO | 5.000% | 8/1/28 | 8,830 | 10,714 |
113
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/22 | 660 | 807 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/23 | 375 | 468 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/24 | 275 | 350 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 4.000% | 8/1/25 | 500 | 603 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 4.000% | 8/1/26 | 550 | 667 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/27 | 670 | 869 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/28 | 625 | 803 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/29 | 525 | 671 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/30 | 1,100 | 1,398 |
| Santa Clara Valley CA Transportation Authority | ||||
| Sales Tax Revenue | 5.000% | 4/1/17 (Prere.) | 4,000 | 4,147 |
| Santa Clara Valley CA Water District COP | 4.000% | 6/1/18 | 520 | 553 |
| Santa Clara Valley CA Water District COP | 4.000% | 6/1/19 | 1,000 | 1,090 |
| Santa Clara Valley CA Water District COP | 5.000% | 6/1/20 | 500 | 576 |
| Santa Clara Valley CA Water District COP | 5.000% | 6/1/21 | 450 | 533 |
| Santa Clara Valley CA Water District COP | 5.000% | 6/1/22 | 430 | 522 |
| Santa Clara Valley CA Water District COP | 5.000% | 6/1/23 | 750 | 929 |
| Santa Clarita CA Community College District GO | 0.000% | 8/1/29 (4) | 2,480 | 1,687 |
| Santa Clarita CA Community College District GO | 5.000% | 8/1/32 | 5,450 | 6,471 |
| Santa Monica CA Community College District GO | 0.000% | 8/1/24 | 4,500 | 3,828 |
| Santa Monica CA Community College District GO | 0.000% | 8/1/26 | 11,025 | 8,803 |
| Santa Monica CA Community College District GO | 4.000% | 8/1/30 | 2,000 | 2,261 |
| Santa Monica CA Community College District GO | 4.000% | 8/1/32 | 2,565 | 2,876 |
| Santa Monica CA Community College District GO | 4.000% | 8/1/33 | 3,510 | 3,921 |
| Santa Monica-Malibu CA Unified School | ||||
| District GO | 4.000% | 8/1/31 | 1,600 | 1,829 |
| Santa Monica-Malibu CA Unified School | ||||
| District GO | 4.000% | 8/1/33 | 1,150 | 1,303 |
| Santa Rosa CA High School District GO | 3.000% | 5/1/17 | 1,110 | 1,134 |
| Santa Rosa CA High School District GO | 4.000% | 5/1/18 | 2,230 | 2,367 |
| Santa Rosa CA High School District GO | 5.000% | 5/1/19 | 2,040 | 2,280 |
| Santa Rosa CA High School District GO | 5.000% | 5/1/20 | 1,150 | 1,325 |
| Santa Rosa CA Wastewater Revenue | 0.000% | 9/1/28 (4) | 11,095 | 7,804 |
| Santa Rosa CA Wastewater Revenue | 5.000% | 9/1/29 | 2,870 | 3,406 |
| Santa Rosa CA Wastewater Revenue | 5.000% | 9/1/30 | 3,055 | 3,640 |
| Santa Rosa CA Wastewater Revenue | 5.000% | 9/1/33 | 1,425 | 1,703 |
| Signal Hill CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 3.000% | 10/1/16 | 1,860 | 1,875 |
| Signal Hill CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 3.000% | 10/1/17 | 1,915 | 1,969 |
| Signal Hill CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 4.000% | 10/1/18 | 1,960 | 2,092 |
| Signal Hill CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/19 | 2,040 | 2,289 |
| Signal Hill CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 10/1/20 (15) | 2,120 | 2,455 |
114
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Silicon Valley CA Clean Water Wastewater | ||||
| Revenue | 5.000% | 8/1/20 | 350 | 407 |
| Silicon Valley CA Clean Water Wastewater | ||||
| Revenue | 5.000% | 8/1/21 | 725 | 867 |
| Silicon Valley CA Clean Water Wastewater | ||||
| Revenue | 5.000% | 8/1/24 | 1,000 | 1,275 |
| Silicon Valley CA Clean Water Wastewater | ||||
| Revenue | 5.000% | 8/1/28 | 1,000 | 1,266 |
| Silicon Valley CA Clean Water Wastewater | ||||
| Revenue | 5.000% | 8/1/35 | 1,000 | 1,234 |
| Simi Valley CA Unified School District GO | 0.000% | 8/1/26 (4) | 3,030 | 2,333 |
| Simi Valley CA Unified School District GO | 0.000% | 8/1/27 (4) | 2,900 | 2,113 |
| Solana Beach CA School District Special Tax | ||||
| Revenue | 5.000% | 9/1/29 | 2,125 | 2,460 |
| Solana Beach CA School District Special Tax | ||||
| Revenue | 5.000% | 9/1/32 | 2,665 | 3,056 |
| Solano County CA COP | 5.000% | 11/1/17 (14) | 4,110 | 4,352 |
| Solano County CA COP | 5.000% | 11/1/18 (14) | 3,810 | 4,034 |
| Solano County CA COP | 5.000% | 11/1/19 (14) | 3,995 | 4,228 |
| Solano County CA COP | 5.000% | 11/1/20 (14) | 4,195 | 4,439 |
| Solano County CA COP | 5.000% | 11/1/21 (14) | 4,405 | 4,654 |
| Sonoma County CA Sales Tax Revenue | 5.000% | 9/1/17 (Prere.) | 6,365 | 6,713 |
| Sonoma County CA Transportation Authority | ||||
| Sales Tax Revenue | 5.000% | 12/1/20 | 1,405 | 1,645 |
| Sonoma County CA Transportation Authority | ||||
| Sales Tax Revenue | 5.000% | 12/1/22 | 2,480 | 3,050 |
| South Orange County CA Public Financing | ||||
| Authority Special Tax Revenue | 5.000% | 8/15/23 | 1,000 | 1,175 |
| South Orange County CA Public Financing | ||||
| Authority Special Tax Revenue | 5.000% | 8/15/25 | 1,250 | 1,468 |
| South San Francisco CA Redevelopment | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/31 (14) | 9,255 | 9,345 |
| Southern California Public Power Authority | ||||
| Revenue | 5.000% | 7/1/25 | 6,735 | 8,562 |
| Southern California Public Power Authority | ||||
| Revenue | 5.000% | 7/1/28 | 10,000 | 11,514 |
| Southern California Public Power Authority | ||||
| Revenue | 5.000% | 7/1/29 | 5,000 | 5,752 |
| Southern California Public Power Authority | ||||
| Revenue | 5.000% | 7/1/30 | 10,750 | 12,311 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 1/1/20 (Prere.) | 4,175 | 4,760 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.250% | 1/1/20 (Prere.) | 6,950 | 7,984 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 7/1/20 | 1,250 | 1,450 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 7/1/21 | 1,000 | 1,190 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 7/1/23 | 4,000 | 4,765 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 7/1/24 | 2,355 | 2,802 |
115
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 7/1/25 | 1,500 | 1,783 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 7/1/26 | 1,250 | 1,484 |
| Southern California Public Power Authority | ||||
| Revenue (Canyon Power Project) | 5.000% | 7/1/27 | 1,000 | 1,185 |
| Southern California Public Power Authority | ||||
| Revenue (Linden Wind Energy Project) | 5.000% | 7/1/28 | 3,500 | 4,030 |
| Southern California Public Power Authority | ||||
| Revenue (Linden Wind Energy Project) | 5.000% | 7/1/29 | 2,500 | 2,876 |
| Southern California Public Power Authority | ||||
| Revenue (Linden Wind Energy Project) | 5.000% | 7/1/30 | 2,500 | 2,863 |
| Southern California Public Power Authority | ||||
| Revenue (Milford Wind Corridor Phase I Project) | 5.000% | 7/1/28 | 5,000 | 5,671 |
| Southern California Public Power Authority | ||||
| Revenue (Milford Wind Corridor Phase I Project) | 5.000% | 7/1/29 | 5,000 | 5,668 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.000% | 11/1/16 | 550 | 559 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.000% | 11/1/18 | 1,040 | 1,130 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.250% | 11/1/23 | 5,270 | 6,421 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.250% | 11/1/24 | 5,000 | 6,106 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.250% | 11/1/25 | 7,000 | 8,573 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.250% | 11/1/26 | 3,500 | 4,331 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.000% | 11/1/28 | 2,000 | 2,435 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.000% | 11/1/33 | 4,425 | 5,482 |
| Southern California Public Power Authority | ||||
| Revenue (Transmission Project) | 5.000% | 7/1/23 | 5,000 | 5,513 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/19 | 1,000 | 1,129 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/20 | 1,000 | 1,162 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/22 | 900 | 1,102 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/23 | 1,300 | 1,623 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/24 | 700 | 890 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/25 | 805 | 1,040 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/26 | 725 | 927 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/27 | 1,315 | 1,666 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/29 | 1,500 | 1,881 |
116
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/30 | 1,120 | 1,399 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/31 | 1,470 | 1,828 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/32 | 2,410 | 2,985 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/33 | 2,325 | 2,869 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/34 | 3,400 | 4,180 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/35 | 2,840 | 3,494 |
| Southern California Water Replenishment District | ||||
| Financing Authority Revenue | 5.000% | 8/1/36 | 3,000 | 3,677 |
| Southwestern California Community College | ||||
| District GO | 0.000% | 8/1/24 | 750 | 624 |
| Southwestern California Community College | ||||
| District GO | 0.000% | 8/1/25 | 1,090 | 867 |
| Southwestern California Community College | ||||
| District GO | 0.000% | 8/1/26 | 2,000 | 1,503 |
| Southwestern California Community College | ||||
| District GO | 0.000% | 8/1/27 | 2,000 | 1,416 |
| Southwestern California Community College | ||||
| District GO | 0.000% | 8/1/28 | 2,535 | 1,689 |
| St. Helena CA Unified School District GO | 0.000% | 8/1/27 | 4,550 | 4,041 |
| State Center California Community College | ||||
| District GO | 5.000% | 8/1/17 (Prere.) | 5,880 | 6,181 |
| Stockton CA Public Financing Authority | ||||
| Wastewater Revenue | 5.000% | 9/1/22 (15) | 1,000 | 1,202 |
| Stockton CA Public Financing Authority | ||||
| Wastewater Revenue | 5.000% | 9/1/23 (15) | 1,000 | 1,221 |
| Stockton CA Public Financing Authority | ||||
| Wastewater Revenue | 5.000% | 9/1/24 (15) | 1,000 | 1,240 |
| Stockton CA Public Financing Authority | ||||
| Wastewater Revenue | 5.000% | 9/1/25 (15) | 1,250 | 1,545 |
| Stockton CA Public Financing Authority | ||||
| Wastewater Revenue | 5.000% | 9/1/26 (15) | 1,375 | 1,685 |
| Stockton CA Public Financing Authority | ||||
| Wastewater Revenue | 5.000% | 9/1/27 (15) | 1,250 | 1,522 |
| Stockton CA Public Financing Authority Water | ||||
| Revenue (Delta Water Supply Project) | 6.125% | 10/1/35 | 1,000 | 1,245 |
| Stockton CA Unified School District GO | 3.000% | 8/1/17 | 700 | 719 |
| Stockton CA Unified School District GO | 4.000% | 8/1/18 | 2,500 | 2,666 |
| Stockton CA Unified School District GO | 4.000% | 8/1/19 | 3,470 | 3,788 |
| Stockton CA Unified School District GO | 5.000% | 8/1/20 | 930 | 1,073 |
| Stockton CA Unified School District GO | 5.000% | 8/1/21 | 2,185 | 2,572 |
| Stockton CA Unified School District GO | 5.000% | 8/1/22 | 2,650 | 3,195 |
| Stockton CA Unified School District GO | 5.000% | 7/1/23 (4) | 1,110 | 1,342 |
| Stockton CA Unified School District GO | 5.000% | 8/1/23 | 2,055 | 2,504 |
| Stockton CA Unified School District GO | 5.000% | 7/1/24 (4) | 1,350 | 1,626 |
| Stockton CA Unified School District GO | 5.000% | 8/1/28 (15) | 1,000 | 1,210 |
| Stockton CA Unified School District GO | 5.000% | 8/1/29 (15) | 600 | 723 |
| Stockton CA Unified School District GO | 4.000% | 8/1/30 (4) | 1,960 | 2,186 |
117
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Stockton CA Unified School District GO | 5.000% | 8/1/30 (15) | 1,555 | 1,866 |
| Stockton CA Unified School District GO | 5.000% | 8/1/31 (15) | 1,875 | 2,241 |
| Stockton CA Unified School District GO | 5.000% | 8/1/32 (15) | 2,060 | 2,455 |
| Stockton CA Unified School District GO | 5.000% | 8/1/33 (15) | 2,250 | 2,674 |
| Stockton CA Unified School District GO | 5.000% | 8/1/34 (15) | 2,105 | 2,493 |
| Suisun City CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/23 (15) | 1,015 | 1,241 |
| Suisun City CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/25 (15) | 1,000 | 1,237 |
| Suisun City CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/26 (15) | 1,200 | 1,472 |
| Suisun City CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/27 (15) | 1,245 | 1,518 |
| Suisun City CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/28 (15) | 1,280 | 1,553 |
| Suisun City CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/29 (15) | 2,255 | 2,724 |
| Suisun City CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/30 (15) | 1,000 | 1,204 |
| Sweetwater CA Unified School District GO | 5.000% | 8/1/23 (15) | 1,000 | 1,231 |
| Sweetwater CA Unified School District GO | 5.000% | 8/1/24 (15) | 1,000 | 1,252 |
| Sweetwater CA Unified School District GO | 5.000% | 8/1/27 (15) | 7,000 | 8,519 |
| Sweetwater CA Unified School District GO | 5.000% | 8/1/28 (15) | 8,000 | 9,686 |
| 3 Sweetwater CA Unified School District GO | ||||
| TOB VRDO | 0.430% | 6/7/16 (13) | 3,300 | 3,300 |
| Temecula Valley CA Unified School District GO | 0.000% | 8/1/32 (15) | 2,000 | 1,922 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 3.000% | 8/1/17 | 275 | 282 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 4.000% | 8/1/18 | 350 | 373 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 8/1/19 | 250 | 281 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 8/1/20 | 250 | 289 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 8/1/21 | 900 | 1,064 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 8/1/23 (4) | 400 | 493 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 8/1/24 (4) | 400 | 500 |
| Tracy CA Community Development Agency | ||||
| Successor Agency Tax Allocation Revenue | 5.000% | 8/1/25 (4) | 960 | 1,205 |
| Tuolumne CA Wind Project Authority Revenue | 5.250% | 1/1/24 | 5,115 | 5,656 |
| Tuolumne CA Wind Project Authority Revenue | 5.625% | 1/1/29 | 2,100 | 2,343 |
| Turlock CA Irrigation District Revenue | 5.000% | 1/1/21 | 3,805 | 4,341 |
| Turlock CA Irrigation District Revenue | 5.000% | 1/1/22 | 5,415 | 6,165 |
| Turlock CA Irrigation District Revenue | 5.000% | 1/1/28 | 7,020 | 8,001 |
| Turlock CA Irrigation District Revenue | 5.000% | 1/1/29 | 6,400 | 7,294 |
| Turlock CA Irrigation District Revenue | 5.000% | 1/1/30 | 7,770 | 8,815 |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/22 | 1,390 | 1,638 |
118
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/23 | 750 | 900 |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/24 | 760 | 922 |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/25 | 2,820 | 3,461 |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/26 | 2,300 | 2,798 |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/27 | 3,915 | 4,732 |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/29 | 3,640 | 4,348 |
| Tustin CA Unified School District Special Tax | ||||
| Revenue | 5.000% | 9/1/30 | 3,500 | 4,163 |
| Union City CA Community Redevelopment | ||||
| Agency Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 10/1/31 | 1,820 | 2,224 |
| Union City CA Community Redevelopment | ||||
| Agency Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 10/1/32 | 1,360 | 1,659 |
| Union City CA Community Redevelopment | ||||
| Agency Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 10/1/33 | 3,000 | 3,646 |
| Union City CA Community Redevelopment | ||||
| Agency Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 10/1/35 | 1,250 | 1,506 |
| Union City CA Community Redevelopment | ||||
| Agency Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 10/1/36 | 1,000 | 1,200 |
| University of California Regents Medical Center | ||||
| Pooled Revenue VRDO | 0.260% | 6/1/16 | 6,795 | 6,795 |
| University of California Regents Medical Center | ||||
| Pooled Revenue VRDO | 0.280% | 6/1/16 | 10,915 | 10,915 |
| University of California Regents Medical Center | ||||
| Revenue | 5.000% | 5/15/19 (14) | 5,075 | 5,095 |
| University of California Regents Medical Center | ||||
| Revenue | 5.000% | 5/15/20 (14) | 5,065 | 5,085 |
| University of California Regents Medical Center | ||||
| Revenue | 5.000% | 5/15/25 | 19,385 | 19,654 |
| University of California Regents Medical Center | ||||
| Revenue | 5.000% | 5/15/26 | 10,095 | 10,235 |
| University of California Regents Medical Center | ||||
| Revenue | 5.000% | 5/15/32 | 14,940 | 17,832 |
| University of California Regents Medical Center | ||||
| Revenue | 5.000% | 5/15/33 | 5,000 | 5,968 |
| University of California Revenue | 5.000% | 5/15/17 | 4,000 | 4,169 |
| University of California Revenue | 5.000% | 5/15/18 | 3,000 | 3,249 |
| University of California Revenue | 5.000% | 5/15/19 | 15,815 | 17,695 |
| University of California Revenue | 5.000% | 5/15/19 | 5,250 | 5,881 |
| University of California Revenue | 5.750% | 5/15/19 (Prere.) | 3,000 | 3,429 |
| University of California Revenue | 5.000% | 5/15/20 | 8,250 | 9,509 |
| University of California Revenue | 5.000% | 5/15/20 | 4,360 | 5,034 |
| University of California Revenue | 5.000% | 5/15/21 | 3,000 | 3,560 |
| University of California Revenue | 5.000% | 5/15/22 | 3,500 | 4,258 |
| University of California Revenue | 5.000% | 5/15/22 | 9,000 | 10,950 |
| University of California Revenue | 5.000% | 5/15/22 | 5,420 | 6,455 |
119
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| University of California Revenue | 5.000% | 5/15/23 | 1,865 | 2,317 |
| University of California Revenue | 5.000% | 5/15/24 | 5,000 | 6,329 |
| University of California Revenue | 5.000% | 5/15/25 | 2,400 | 3,084 |
| University of California Revenue | 5.000% | 5/15/25 | 9,030 | 11,577 |
| University of California Revenue | 5.000% | 5/15/27 | 10,900 | 12,770 |
| University of California Revenue | 5.000% | 5/15/27 | 7,000 | 8,831 |
| University of California Revenue | 5.000% | 5/15/28 | 7,080 | 8,828 |
| University of California Revenue | 5.000% | 5/15/28 | 11,680 | 13,605 |
| University of California Revenue | 5.000% | 5/15/28 | 9,075 | 11,384 |
| University of California Revenue | 5.000% | 5/15/30 | 1,400 | 1,708 |
| University of California Revenue | 5.000% | 5/15/30 | 1,000 | 1,263 |
| University of California Revenue | 5.000% | 5/15/31 | 2,290 | 2,821 |
| University of California Revenue | 5.000% | 5/15/32 | 14,020 | 16,617 |
| University of California Revenue | 5.000% | 5/15/32 | 4,000 | 5,009 |
| University of California Revenue | 5.250% | 5/15/32 | 5,000 | 6,244 |
| University of California Revenue | 5.000% | 5/15/33 | 6,995 | 8,579 |
| University of California Revenue | 5.000% | 5/15/33 | 15,240 | 18,415 |
| University of California Revenue | 5.000% | 5/15/33 | 10,110 | 12,216 |
| University of California Revenue | 5.000% | 5/15/33 | 5,000 | 6,235 |
| University of California Revenue | 5.000% | 5/15/34 | 15,900 | 19,155 |
| University of California Revenue | 5.000% | 5/15/34 | 3,915 | 4,863 |
| University of California Revenue | 5.000% | 5/15/35 | 1,835 | 2,275 |
| University of California Revenue | 5.000% | 5/15/36 | 5,425 | 6,700 |
| University of California Revenue PUT | 1.400% | 5/15/21 | 4,300 | 4,304 |
| University of California Revenue PUT | 5.000% | 5/15/23 | 52,095 | 64,358 |
| 3 University of California Revenue TOB VRDO | 0.430% | 6/7/16 | 7,030 | 7,030 |
| Upland CA Community Facilities District | ||||
| No. 2003-2 Improvement Area No. 1 Special | ||||
| Tax Revenue | 5.000% | 9/1/31 | 1,110 | 1,259 |
| Vacaville CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/22 | 600 | 717 |
| Vacaville CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/23 | 575 | 696 |
| Vacaville CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/24 | 1,325 | 1,621 |
| Vacaville CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/25 | 1,390 | 1,692 |
| Vacaville CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/26 | 1,460 | 1,763 |
| Vacaville CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/27 | 1,200 | 1,440 |
| Vacaville CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/28 | 1,200 | 1,429 |
| Ventura County CA Community College | ||||
| District GO | 5.000% | 8/1/25 | 1,915 | 2,299 |
| Ventura County CA Community College | ||||
| District GO | 5.000% | 8/1/27 | 2,205 | 2,637 |
| Ventura County CA Community College | ||||
| District GO | 0.000% | 8/1/28 | 15,000 | 10,685 |
| Ventura County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/24 | 1,200 | 1,459 |
| Ventura County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/29 | 1,000 | 1,196 |
120
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Ventura County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/32 | 2,000 | 2,385 |
| Ventura County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/33 | 1,250 | 1,490 |
| Vista CA Joint Powers Financing Authority | ||||
| Revenue | 4.000% | 5/1/18 | 300 | 318 |
| Vista CA Joint Powers Financing Authority | ||||
| Revenue | 5.000% | 5/1/20 | 500 | 574 |
| Vista CA Joint Powers Financing Authority | ||||
| Revenue | 5.000% | 5/1/21 | 325 | 383 |
| Vista CA Joint Powers Financing Authority | ||||
| Revenue | 5.000% | 5/1/22 | 400 | 481 |
| Vista CA Joint Powers Financing Authority | ||||
| Revenue | 5.250% | 5/1/35 | 5,975 | 7,372 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/18 (4) | 400 | 437 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/19 (4) | 300 | 338 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/20 (4) | 275 | 318 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/21 (4) | 265 | 314 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/22 (4) | 335 | 405 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/23 (4) | 400 | 492 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/24 (4) | 585 | 728 |
| Vista CA Unified School District GO | 5.000% | 8/1/24 | 5,000 | 6,120 |
| Walnut CA Energy Center Authority Revenue | 5.000% | 1/1/30 | 2,000 | 2,250 |
| Walnut Valley CA Unified School District GO | 5.000% | 8/1/23 | 250 | 310 |
| Walnut Valley CA Unified School District GO | 5.000% | 8/1/24 | 350 | 442 |
| Walnut Valley CA Unified School District GO | 5.000% | 8/1/27 | 1,385 | 1,778 |
| Washington Township CA Health Care District | ||||
| Revenue | 4.000% | 7/1/16 | 695 | 697 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/17 | 760 | 791 |
| Washington Township CA Health Care District | ||||
| Revenue | 4.000% | 7/1/18 | 325 | 342 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/19 | 500 | 551 |
| Washington Township CA Health Care District | ||||
| Revenue | 4.000% | 7/1/20 | 375 | 407 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/21 | 350 | 402 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/22 | 725 | 846 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/23 | 400 | 473 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/24 | 750 | 899 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/25 | 775 | 936 |
121
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/26 | 900 | 1,073 |
| Washington Township CA Health Care District | ||||
| Revenue | 6.000% | 7/1/29 | 1,000 | 1,126 |
| West Basin CA Municipal Water District Revenue | 5.000% | 8/1/22 | 2,000 | 2,428 |
| West Contra Costa CA Unified School District GO | 4.000% | 8/1/17 | 850 | 883 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/18 | 1,000 | 1,090 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/20 | 250 | 290 |
| West Contra Costa CA Unified School District GO | 6.000% | 8/1/26 | 5,000 | 6,868 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/30 | 3,425 | 4,170 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/31 | 5,690 | 6,894 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/32 | 1,825 | 2,220 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/32 | 5,560 | 6,713 |
| West Contra Costa CA Unified School District GO | 0.000% | 8/1/33 (12) | 2,650 | 1,548 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/33 | 915 | 1,107 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/33 | 1,020 | 1,234 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/33 | 3,265 | 3,934 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/34 | 2,010 | 2,421 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/34 | 1,070 | 1,289 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/35 | 1,400 | 1,679 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/35 | 1,000 | 1,199 |
| West Valley-Mission CA Community College | ||||
| District GO | 5.000% | 8/1/16 (Prere.) | 1,120 | 1,128 |
| West Valley-Mission CA Community College | ||||
| District GO | 5.000% | 8/1/30 (4) | 215 | 217 |
| Western CA Municipal Water District Revenue | ||||
| PUT | 1.500% | 10/1/20 | 2,350 | 2,356 |
| Westlands CA Water District Revenue | 5.000% | 9/1/21 (4) | 750 | 886 |
| Westlands CA Water District Revenue | 5.000% | 9/1/22 (4) | 750 | 904 |
| Westlands CA Water District Revenue | 5.000% | 9/1/24 (4) | 1,000 | 1,216 |
| Westlands CA Water District Revenue | 5.000% | 9/1/25 (4) | 1,250 | 1,502 |
| William S. Hart Union High School District | ||||
| California GO | 5.000% | 9/1/25 | 1,735 | 2,118 |
| William S. Hart Union High School District | ||||
| California GO | 5.000% | 9/1/26 | 1,085 | 1,323 |
| William S. Hart Union High School District | ||||
| California GO | 5.000% | 9/1/27 | 1,500 | 1,827 |
| William S. Hart Union High School District | ||||
| California GO | 0.000% | 8/1/34 (4) | 3,880 | 2,092 |
| Yucaipa Valley CA Water District Water System | ||||
| Revenue | 5.000% | 9/1/18 | 500 | 545 |
| Yucaipa Valley CA Water District Water System | ||||
| Revenue | 5.000% | 9/1/19 | 1,020 | 1,148 |
| 11,670,379 | ||||
| Guam (0.3%) | ||||
| Guam Government Business Privilege Tax | ||||
| Revenue | 5.000% | 11/15/20 | 750 | 859 |
| Guam Government Business Privilege Tax | ||||
| Revenue | 5.000% | 11/15/21 | 1,125 | 1,308 |
| Guam Government Business Privilege Tax | ||||
| Revenue | 5.000% | 11/15/22 | 1,500 | 1,766 |
122
| California Intermediate-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.000% | 7/1/20 | 540 | 610 |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.000% | 7/1/21 | 400 | 461 |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.000% | 7/1/22 | 500 | 585 |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.000% | 7/1/28 | 2,115 | 2,446 |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.000% | 7/1/29 | 5,035 | 5,833 |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.250% | 7/1/33 | 4,000 | 4,659 |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.000% | 7/1/35 | 4,450 | 5,088 |
| Guam Government Waterworks Authority Water | ||||
| & Waste Water System Revenue | 5.000% | 7/1/36 | 1,450 | 1,697 |
| Guam Power Authority Revenue | 5.000% | 10/1/22 | 1,605 | 1,874 |
| Guam Power Authority Revenue | 5.000% | 10/1/26 | 1,810 | 2,127 |
| Guam Power Authority Revenue | 5.000% | 10/1/30 | 1,470 | 1,694 |
| 31,007 | ||||
| Virgin Islands (0.0%) | ||||
| Virgin Islands Public Finance Authority Revenue | 5.000% | 10/1/16 | 1,500 | 1,519 |
| Virgin Islands Public Finance Authority Revenue | 5.000% | 10/1/17 | 1,500 | 1,570 |
| Virgin Islands Public Finance Authority Revenue | 5.000% | 10/1/25 | 645 | 712 |
| 3,801 | ||||
| Total Tax-Exempt Municipal Bonds (Cost $11,024,340) | 11,705,187 | |||
| Amount | ||||
| ($000) | ||||
| Other Assets and Liabilities (-0.9%) | ||||
| Other Assets | ||||
| Investment in Vanguard | 948 | |||
| Receivables for Investment Securities Sold | 6,665 | |||
| Receivables for Accrued Income | 117,183 | |||
| Receivables for Capital Shares Issued | 12,555 | |||
| Other Assets | 469 | |||
| Total Other Assets | 137,820 | |||
| Liabilities | ||||
| Payables for Investment Securities Purchased | (222,144) | |||
| Payables for Capital Shares Redeemed | (8,194) | |||
| Payables for Distributions | (5,583) | |||
| Payables to Vanguard | (7,778) | |||
| Other Liabilities | (299) | |||
| Total Liabilities | (243,998) | |||
| Net Assets (100%) | 11,599,009 | |||
123
| California Intermediate-Term Tax-Exempt Fund | |
| At May 31, 2016, net assets consisted of: | |
| Amount | |
| ($000) | |
| Paid-in Capital | 10,983,381 |
| Overdistributed Net Investment Income | (1) |
| Accumulated Net Realized Losses | (65,218) |
| Unrealized Appreciation (Depreciation) | 680,847 |
| Net Assets | 11,599,009 |
| Investor Shares—Net Assets | |
| Applicable to 138,860,763 outstanding $.001 par value shares of | |
| beneficial interest (unlimited authorization) | 1,666,292 |
| Net Asset Value Per Share—Investor Shares | $12.00 |
| Admiral Shares—Net Assets | |
| Applicable to 827,745,968 outstanding $.001 par value shares of | |
| beneficial interest (unlimited authorization) | 9,932,717 |
| Net Asset Value Per Share—Admiral Shares | $12.00 |
• See Note A in Notes to Financial Statements.
1 Adjustable-rate security.
2 Securities with a value of $2,405,000 have been segregated as initial margin for recently closed futures contracts.
3 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2016, the aggregate value of these securities was $156,185,000, representing 1.3% of net assets.
4 Security purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of May 31, 2016.
A key to abbreviations and other references follows the Statement of Net Assets.
See accompanying Notes, which are an integral part of the Financial Statements.
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California Intermediate-Term Tax-Exempt Fund
Key to Abbreviations
ARS—Auction Rate Security.
BAN—Bond Anticipation Note.
COP—Certificate of Participation.
CP—Commercial Paper.
FR—Floating Rate.
GAN—Grant Anticipation Note.
GO—General Obligation Bond.
PILOT—Payments in Lieu of Taxes.
PUT—Put Option Obligation.
RAN—Revenue Anticipation Note.
TAN—Tax Anticipation Note.
TOB—Tender Option Bond.
TRAN—Tax Revenue Anticipation Note.
VRDO—Variable Rate Demand Obligation.
VRDP—Variable Rate Demand Preferred.
(ETM)—Escrowed to Maturity.
(Prere.)—Prerefunded.
Scheduled principal and interest payments are guaranteed by:
(1) MBIA (Municipal Bond Investors Assurance).
(2) AMBAC (Ambac Assurance Corporation).
(3) FGIC (Financial Guaranty Insurance Company).
(4) AGM (Assured Guaranty Municipal Corporation).
(5) BIGI (Bond Investors Guaranty Insurance).
(6) Connie Lee Inc.
(7) FHA (Federal Housing Authority).
(8) CapMAC (Capital Markets Assurance Corporation).
(9) American Capital Access Financial Guaranty Corporation.
(10) XL Capital Assurance Inc.
(11) CIFG (CDC IXIS Financial Guaranty).
(12) AGC (Assured Guaranty Corporation).
(13) BHAC (Berkshire Hathaway Assurance Corporation).
(14) NPFG (National Public Finance Guarantee Corporation).
(15) BAM (Build America Mutual Assurance Company).
(16) MAC (Municipal Assurance Corporation).
(17) RAA (Radian Asset Assurance Inc.).
The insurance does not guarantee the market value of the municipal bonds.
LOC—Scheduled principal and interest payments are guaranteed by bank letter of credit.
125
California Intermediate-Term Tax-Exempt Fund
Statement of Operations
| Six Months Ended | |
| May 31, 2016 | |
| ($000) | |
| Investment Income | |
| Income | |
| Interest | 154,655 |
| Total Income | 154,655 |
| Expenses | |
| The Vanguard Group—Note B | |
| Investment Advisory Services | 599 |
| Management and Administrative—Investor Shares | 1,240 |
| Management and Administrative—Admiral Shares | 4,562 |
| Marketing and Distribution—Investor Shares | 220 |
| Marketing and Distribution—Admiral Shares | 489 |
| Custodian Fees | 58 |
| Shareholders’ Reports—Investor Shares | 18 |
| Shareholders’ Reports—Admiral Shares | 26 |
| Trustees’ Fees and Expenses | 2 |
| Total Expenses | 7,214 |
| Net Investment Income | 147,441 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold | 7,826 |
| Futures Contracts | 1,194 |
| Realized Net Gain (Loss) | 9,020 |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities | 174,061 |
| Futures Contracts | (5) |
| Change in Unrealized Appreciation (Depreciation) | 174,056 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 330,517 |
See accompanying Notes, which are an integral part of the Financial Statements.
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California Intermediate-Term Tax-Exempt Fund
Statement of Changes in Net Assets
| Six Months Ended | Year Ended | |
| May 31, | November 30, | |
| 2016 | 2015 | |
| ($000) | ($000) | |
| Increase (Decrease) in Net Assets | ||
| Operations | ||
| Net Investment Income | 147,441 | 273,479 |
| Realized Net Gain (Loss) | 9,020 | 16,391 |
| Change in Unrealized Appreciation (Depreciation) | 174,056 | (5,384) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 330,517 | 284,486 |
| Distributions | ||
| Net Investment Income | ||
| Investor Shares | (20,577) | (42,345) |
| Admiral Shares | (126,865) | (231,134) |
| Realized Capital Gain | ||
| Investor Shares | — | — |
| Admiral Shares | — | — |
| Total Distributions | (147,442) | (273,479) |
| Capital Share Transactions | ||
| Investor Shares | 131,238 | 64,521 |
| Admiral Shares | 1,029,840 | 1,495,420 |
| Net Increase (Decrease) from Capital Share Transactions | 1,161,078 | 1,559,941 |
| Total Increase (Decrease) | 1,344,153 | 1,570,948 |
| Net Assets | ||
| Beginning of Period | 10,254,856 | 8,683,908 |
| End of Period1 | 11,599,009 | 10,254,856 |
| 1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($1,000) and $0. | ||
See accompanying Notes, which are an integral part of the Financial Statements.
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California Intermediate-Term Tax-Exempt Fund
Financial Highlights
| Investor Shares | ||||||
| Six Months | ||||||
| Ended | ||||||
| For a Share Outstanding | May 31, | Year Ended November 30, | ||||
| Throughout Each Period | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Net Asset Value, Beginning of Period | $11.79 | $11.78 | $11.32 | $11.92 | $11.18 | $10.93 |
| Investment Operations | ||||||
| Net Investment Income | .157 | .331 | .355 | .373 | .379 | .408 |
| Net Realized and Unrealized Gain (Loss) | ||||||
| on Investments | .210 | .010 | .460 | (.600) | .740 | .250 |
| Total from Investment Operations | .367 | .341 | .815 | (.227) | 1.119 | .658 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.157) | (. 331) | (. 355) | (. 373) | (. 379) | (. 408) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (.157) | (. 331) | (. 355) | (. 373) | (. 379) | (. 408) |
| Net Asset Value, End of Period | $12.00 | $11.79 | $11.78 | $11.32 | $11.92 | $11.18 |
| Total Return1 | 3.12% | 2.93% | 7.29% | -1.91% | 10.14% | 6.17% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $1,666 | $1,509 | $1,444 | $1,227 | $1,375 | $1,193 |
| Ratio of Total Expenses to | ||||||
| Average Net Assets | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% |
| Ratio of Net Investment Income to | ||||||
| Average Net Assets | 2.62% | 2.81% | 3.06% | 3.24% | 3.26% | 3.73% |
| Portfolio Turnover Rate | 10% | 17% | 11% | 12% | 9% | 13% |
| The expense ratio, net investment income ratio, and turnover rate for the current period have been annualized. | ||||||
| 1 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. | ||||||
See accompanying Notes, which are an integral part of the Financial Statements.
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California Intermediate-Term Tax-Exempt Fund
Financial Highlights
| Admiral Shares | ||||||
| Six Months | ||||||
| Ended | ||||||
| For a Share Outstanding | May 31, | Year Ended November 30, | ||||
| Throughout Each Period | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Net Asset Value, Beginning of Period | $11.79 | $11.78 | $11.32 | $11.92 | $11.18 | $10.93 |
| Investment Operations | ||||||
| Net Investment Income | .161 | .340 | .364 | .382 | .388 | .417 |
| Net Realized and Unrealized Gain (Loss) | ||||||
| on Investments | .210 | .010 | .460 | (.600) | .740 | .250 |
| Total from Investment Operations | .371 | .350 | .824 | (.218) | 1.128 | .667 |
| Distributions | ||||||
| Dividends from Net Investment Income | (.161) | (. 340) | (. 364) | (. 382) | (. 388) | (. 417) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (.161) | (. 340) | (. 364) | (. 382) | (. 388) | (. 417) |
| Net Asset Value, End of Period | $12.00 | $11.79 | $11.78 | $11.32 | $11.92 | $11.18 |
| Total Return1 | 3.16% | 3.01% | 7.37% | -1.83% | 10.23% | 6.26% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $9,933 | $8,746 | $7,240 | $5,652 | $5,507 | $4,375 |
| Ratio of Total Expenses to | ||||||
| Average Net Assets | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% |
| Ratio of Net Investment Income to | ||||||
| Average Net Assets | 2.70% | 2.89% | 3.14% | 3.32% | 3.34% | 3.81% |
| Portfolio Turnover Rate | 10% | 17% | 11% | 12% | 9% | 13% |
| The expense ratio, net investment income ratio, and turnover rate for the current period have been annualized. | ||||||
| 1 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. | ||||||
See accompanying Notes, which are an integral part of the Financial Statements.
129
California Intermediate-Term Tax-Exempt Fund
Notes to Financial Statements
Vanguard California Intermediate-Term Tax-Exempt Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund invests in debt instruments of municipal issuers whose ability to meet their obligations may be affected by economic and political developments in the state. The fund offers two classes of shares: Investor Shares and Admiral Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, and account-size criteria.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value.
2. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract.
Futures contracts are valued at their quoted daily settlement prices. The aggregate settlement values of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).
During the six months ended May 31, 2016, the fund’s average investments in long and short futures contracts represented less than 1% and 0% of net assets, respectively, based on the average of aggregate settlement values at each quarter-end during the period. The fund had no open futures contracts at May 31, 2016.
130
California Intermediate-Term Tax-Exempt Fund
3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its taxable income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (November 30, 2012–2015), and for the period ended May 31, 2016, and has concluded that no provision for federal income tax is required in the fund’s financial statements.
4. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month. Annual distributions from realized capital gains, if any, are recorded on the ex-dividend date.
5. Credit Facility: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $3.1 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.
The fund had no borrowings outstanding at May 31, 2016, or at any time during the period then ended.
6. Other: Interest income is accrued daily. Premiums and discounts on debt securities purchased are amortized and accreted, respectively, to interest income over the lives of the respective securities. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.
B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. Vanguard does not require reimbursement in the current period for certain costs of operations (such as deferred compensation/benefits and risk/insurance costs); the fund’s liability for these costs of operations is included in Payables to Vanguard on the Statement of Net Assets.
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At May 31, 2016, the fund had contributed to Vanguard capital in the amount of $948,000, representing 0.01% of the fund’s net assets and 0.38% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
131
California Intermediate-Term Tax-Exempt Fund
C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).
The following table summarizes the market value of the fund’s investments as of May 31, 2016, based on the inputs used to value them:
| Level 1 | Level 2 | Level 3 | |
| Investments | ($000) | ($000) | ($000) |
| Tax-Exempt Municipal Bonds | — | 11,705,187 | — |
| Futures Contracts—Assets1 | 63 | — | — |
| Futures Contracts—Liabilities1 | (299) | — | — |
| Total | (236) | 11,705,187 | — |
| 1 Represents variation margin on the last day of the reporting period for recently closed futures contracts. | |||
D. Capital gain distributions are determined on a tax basis and may differ from realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when gains or losses are recognized in different periods for financial statement and tax purposes. These differences will reverse at some time in the future.
The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at November 30, 2015, the fund had available capital losses totaling $73,906,000 to offset future net capital gains of $28,425,000 through November 30, 2016, $38,406,000 through November 30, 2017, $990,000 through November 30, 2018, and $6,085,000 through November 30, 2019. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending November 30, 2016; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.
At May 31, 2016, the cost of investment securities for tax purposes was $11,024,667,000. Net unrealized appreciation of investment securities for tax purposes was $680,520,000, consisting of unrealized gains of $683,775,000 on securities that had risen in value since their purchase and $3,255,000 in unrealized losses on securities that had fallen in value since their purchase.
E. During the six months ended May 31, 2016, the fund purchased $1,817,643,000 of investment securities and sold $516,304,000 of investment securities, other than temporary cash investments.
132
California Intermediate-Term Tax-Exempt Fund
F. Capital share transactions for each class of shares were:
| Six Months Ended | Year Ended | |||
| May 31, 2016 | November 30, 2015 | |||
| Amount | Shares | Amount | Shares | |
| ($000) | (000) | ($000) | (000) | |
| Investor Shares | ||||
| Issued | 337,561 | 28,229 | 546,730 | 46,454 |
| Issued in Lieu of Cash Distributions | 17,923 | 1,498 | 36,722 | 3,119 |
| Redeemed | (224,246) | (18,776) | (518,931) | (44,244) |
| Net Increase (Decrease)—Investor Shares | 131,238 | 10,951 | 64,521 | 5,329 |
| Admiral Shares | ||||
| Issued | 1,482,076 | 124,034 | 2,385,690 | 202,859 |
| Issued in Lieu of Cash Distributions | 96,362 | 8,056 | 175,300 | 14,892 |
| Redeemed | (548,598) | (45,890) | (1,065,570) | (90,728) |
| Net Increase (Decrease)—Admiral Shares | 1,029,840 | 86,200 | 1,495,420 | 127,023 |
G. Management has determined that no material events or transactions occurred subsequent to May 31, 2016, that would require recognition or disclosure in these financial statements.
133
California Long-Term Tax-Exempt Fund
Fund Profile
As of May 31, 2016
| Share-Class Characteristics | ||
| Investor | Admiral | |
| Shares | Shares | |
| Ticker Symbol | VCITX | VCLAX |
| Expense Ratio1 | 0.20% | 0.12% |
| 30-Day SEC Yield | 1.65% | 1.73% |
| Financial Attributes | |||
| Barclays | |||
| CA | Barclays | ||
| Muni | Municipal | ||
| Bond | Bond | ||
| Fund | Index | Index | |
| Number of Bonds | 777 | 6,802 | 48,863 |
| Yield to Maturity | |||
| (before expenses) | 1.8% | 1.7% | 1.8% |
| Average Coupon | 4.3% | 4.7% | 4.8% |
| Average Duration | 6.4 years | 5.7 years | 5.8 years |
| Average Stated | |||
| Maturity | 16.5 years | 13.7 years | 13.0 years |
| Short-Term | |||
| Reserves | 5.5% | — | — |
| Volatility Measures | ||
| Barclays CA | Barclays | |
| Muni Bond | Municipal | |
| Index | Bond Index | |
| R-Squared | 0.99 | 0.98 |
| Beta | 1.19 | 1.24 |
| These measures show the degree and timing of the fund’s fluctuations compared with the indexes over 36 months. | ||
| Distribution by Stated Maturity | |
| (% of portfolio) | |
| Under 1 Year | 5.1% |
| 1 - 3 Years | 5.5 |
| 3 - 5 Years | 2.9 |
| 5 - 10 Years | 7.8 |
| 10 - 20 Years | 41.5 |
| 20 - 30 Years | 33.5 |
| Over 30 Years | 3.7 |
| Distribution by Credit Quality (% of portfolio) | |
| AAA | 6.6% |
| AA | 71.8 |
| A | 13.8 |
| BBB | 4.9 |
| BB | 0.4 |
| B | 0.4 |
| Not Rated | 2.1 |
Credit-quality ratings are obtained from Moody's and S&P, and the higher rating for each issue is shown. "Not Rated" is used to classify securities for which a rating is not available. Not rated securities include a fund's investment in Vanguard Market Liquidity Fund or Vanguard Municipal Cash Management Fund, each of which invests in high-quality money market instruments and may serve as a cash management vehicle for the Vanguard funds, trusts, and accounts. For more information about these ratings, see the Glossary entry for Credit Quality.
1 The expense ratios shown are from the prospectus dated March 29, 2016, and represent estimated costs for the current fiscal year. For the six months ended May 31, 2016, the annualized expense ratios were 0.20% for Investor Shares and 0.12% for Admiral Shares.
134
California Long-Term Tax-Exempt Fund
Investment Focus
135
California Long-Term Tax-Exempt Fund
Performance Summary
All of the returns in this report represent past performance, which is not a guarantee of future results that may be achieved by the fund. (Current performance may be lower or higher than the performance data cited. For performance data current to the most recent month-end, visit our website at vanguard.com/performance.) Note, too, that both investment returns and principal value can fluctuate widely, so an investor’s shares, when sold, could be worth more or less than their original cost. The returns shown do not reflect taxes that a shareholder would pay on fund distributions or on the sale of fund shares.
| Fiscal-Year Total Returns (%): November 30, 2005, Through May 31, 2016 | ||||
| Barclays CA | ||||
| Muni Bond | ||||
| Investor Shares | Index | |||
| Fiscal Year | Income Returns | Capital Returns | Total Returns | Total Returns |
| 2006 | 4.71% | 1.99% | 6.70% | 6.44% |
| 2007 | 4.52 | -3.37 | 1.15 | 2.17 |
| 2008 | 4.13 | -11.08 | -6.95 | -5.18 |
| 2009 | 4.96 | 7.75 | 12.71 | 13.21 |
| 2010 | 4.36 | 0.27 | 4.63 | 5.80 |
| 2011 | 4.51 | 2.09 | 6.60 | 7.49 |
| 2012 | 4.30 | 8.90 | 13.20 | 11.80 |
| 2013 | 3.64 | -7.60 | -3.96 | -2.92 |
| 2014 | 4.07 | 6.72 | 10.79 | 9.32 |
| 2015 | 3.62 | 0.41 | 4.03 | 3.30 |
| 2016 | 1.74 | 2.56 | 4.30 | 3.44 |
| Note: For 2016, performance data reflect the six months ended May 31, 2016. | ||||
Average Annual Total Returns: Periods Ended March 31, 2016
This table presents returns through the latest calendar quarter—rather than through the end of the fiscal period.
Securities and Exchange Commission rules require that we provide this information.
| Ten Years | ||||||
| Inception Date | One Year | Five Years | Income | Capital | Total | |
| Investor Shares | 4/7/1986 | 5.01% | 7.07% | 4.25% | 0.61% | 4.86% |
| Admiral Shares | 11/12/2001 | 5.10 | 7.16 | 4.33 | 0.61 | 4.94 |
See Financial Highlights for dividend and capital gains information.
136
California Long-Term Tax-Exempt Fund
Financial Statements (unaudited)
Statement of Net Assets
As of May 31, 2016
The fund reports a complete list of its holdings in regulatory filings four times in each fiscal year, at the quarter-ends. For the second and fourth fiscal quarters, the lists appear in the fund’s semiannual and annual reports to shareholders. For the first and third fiscal quarters, the fund files the lists with the Securities and Exchange Commission on Form N-Q. Shareholders can look up the fund’s Forms N-Q on the SEC’s website at sec.gov. Forms N-Q may also be reviewed and copied at the SEC’s Public Reference Room (see the back cover of this report for further information).
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Tax-Exempt Municipal Bonds (101.4%) | ||||
| California (101.2%) | ||||
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Episcopal Senior | ||||
| Communities) | 5.000% | 7/1/42 | 1,000 | 1,110 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Eskaton Properties Inc. | ||||
| Obligated Group) | 5.000% | 11/15/35 | 3,250 | 3,543 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Jackson Laboratory) | 5.000% | 7/1/37 | 7,565 | 8,599 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/23 | 650 | 770 |
| ABAG Finance Authority for Nonprofit Corps. | ||||
| California Revenue (Sharp Healthcare) | 5.000% | 8/1/43 | 15,830 | 18,525 |
| Alameda CA Community Improvement | ||||
| Commission Successor Agency Tax Allocation | ||||
| Revenue | 5.000% | 9/1/29 (15) | 1,500 | 1,806 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 0.000% | 10/1/30 (2) | 30,375 | 17,665 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/35 | 1,000 | 1,197 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/36 | 1,000 | 1,194 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 4.000% | 10/1/37 (4) | 1,500 | 1,634 |
| Alameda CA Corridor Transportation Authority | ||||
| Revenue | 5.000% | 10/1/37 | 550 | 656 |
| Alameda County CA Unified School District GO | 0.000% | 8/1/24 (4) | 3,510 | 3,003 |
| Alameda County CA Unified School District GO | 0.000% | 8/1/29 (4) | 5,000 | 3,377 |
| Anaheim CA Public Financing Authority Revenue | ||||
| (Electric System) | 4.000% | 10/1/31 | 5,080 | 5,567 |
| Bakersfield CA Wastewater Revenue VRDO | 0.420% | 6/7/16 | 1,100 | 1,100 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/18 (Prere.) | 15,050 | 16,225 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/19 (Prere.) | 1,645 | 1,831 |
| Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) | 5.625% | 4/1/19 (Prere.) | 10,000 | 11,302 |
137
| California Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Bay Area Toll Authority California Toll Bridge | |||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/25 | 6,250 | 7,521 | |
| Bay Area Toll Authority California Toll Bridge | |||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/31 | 4,000 | 4,794 | |
| Bay Area Toll Authority California Toll Bridge | |||||
| Revenue (San Francisco Bay Area) | 5.000% | 10/1/42 | 5,000 | 5,703 | |
| Bay Area Toll Authority California Toll Bridge | |||||
| Revenue (San Francisco Bay Area) | 5.000% | 4/1/43 | 4,000 | 4,710 | |
| Bay Area Toll Authority California Toll Bridge | |||||
| Revenue (San Francisco Bay Area) | 5.250% | 4/1/53 | 2,350 | 2,778 | |
| Bay Area Toll Authority California Toll Bridge | |||||
| Revenue (San Francisco Bay Area) | 5.000% | 10/1/54 | 12,000 | 14,104 | |
| 1 | Bay Area Toll Authority California Toll Bridge | ||||
| Revenue (San Francisco Bay Area) PUT | 1.000% | 4/1/20 | 3,500 | 3,477 | |
| Bay Area Toll Authority California Toll Bridge | |||||
| Revenue (San Francisco Bay Area) PUT | 2.000% | 4/1/21 | 1,500 | 1,544 | |
| Brentwood CA Infrastructure Financing Authority | |||||
| Revenue | 5.000% | 9/2/28 (4) | 2,135 | 2,587 | |
| Cabrillo CA Community College District Revenue | 0.000% | 5/1/26 (2) | 9,000 | 5,994 | |
| California County CA Tobacco Securitization | |||||
| Agency Revenue | 5.450% | 6/1/28 | 7,500 | 7,604 | |
| California Department of Water Resources | |||||
| Power Supply Revenue | 5.000% | 5/1/18 (Prere.) | 15,000 | 16,232 | |
| California Department of Water Resources | |||||
| Power Supply Revenue | 5.000% | 5/1/20 | 10,000 | 11,537 | |
| California Department of Water Resources | |||||
| Power Supply Revenue | 5.000% | 5/1/22 | 8,560 | 9,232 | |
| California Department of Water Resources Water | |||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/29 | 6,500 | 8,129 | |
| California Department of Water Resources Water | |||||
| System Revenue (Central Valley Project) | 5.000% | 12/1/35 | 4,000 | 4,737 | |
| California Economic Recovery GO | 5.000% | 7/1/16 (Prere.) | 5,000 | 5,019 | |
| 2 | California Economic Recovery GO | 5.250% | 7/1/19 (Prere.) | 4,365 | 4,950 |
| California Educational Facilities Authority | |||||
| Revenue (Claremont McKenna College) | 5.000% | 1/1/28 | 1,250 | 1,592 | |
| California Educational Facilities Authority | |||||
| Revenue (Claremont McKenna College) | 5.000% | 1/1/29 | 1,000 | 1,264 | |
| California Educational Facilities Authority | |||||
| Revenue (Claremont McKenna College) | 4.000% | 1/1/39 | 10,000 | 11,002 | |
| California Educational Facilities Authority | |||||
| Revenue (College of Arts & Crafts) | 6.875% | 6/1/19 | 1,615 | 1,820 | |
| California Educational Facilities Authority | |||||
| Revenue (College of Arts) | 5.250% | 6/1/30 | 1,125 | 1,249 | |
| California Educational Facilities Authority | |||||
| Revenue (Occidental College) | 5.000% | 10/1/37 | 1,130 | 1,370 | |
| California Educational Facilities Authority | |||||
| Revenue (Occidental College) | 5.000% | 10/1/45 | 1,425 | 1,712 | |
| California Educational Facilities Authority | |||||
| Revenue (Pepperdine College) | 5.000% | 9/1/33 | 3,000 | 3,585 | |
| California Educational Facilities Authority | |||||
| Revenue (Pepperdine College) | 5.000% | 12/1/39 | 2,000 | 2,423 | |
| California Educational Facilities Authority | |||||
| Revenue (Pepperdine College) | 5.000% | 9/1/45 | 5,000 | 5,999 | |
| 138 | |||||
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Educational Facilities Authority | ||||
| Revenue (Pepperdine College) | 5.000% | 10/1/46 | 2,000 | 2,422 |
| California Educational Facilities Authority | ||||
| Revenue (Santa Clara University) | 5.000% | 4/1/39 | 5,880 | 7,049 |
| California Educational Facilities Authority | ||||
| Revenue (Santa Clara University) | 5.000% | 4/1/45 | 6,500 | 7,747 |
| California Educational Facilities Authority | ||||
| Revenue (Stanford University) | 5.000% | 3/15/26 | 5,330 | 6,966 |
| California Educational Facilities Authority | ||||
| Revenue (Stanford University) | 5.250% | 4/1/40 | 6,000 | 8,649 |
| California Educational Facilities Authority | ||||
| Revenue (Stanford University) | 5.000% | 6/1/43 | 3,760 | 5,365 |
| California Educational Facilities Authority | ||||
| Revenue (Stanford University) | 5.000% | 5/1/45 | 4,000 | 5,767 |
| California Educational Facilities Authority | ||||
| Revenue (University of San Francisco) | 6.125% | 10/1/36 | 1,250 | 1,534 |
| California Educational Facilities Authority | ||||
| Revenue (University of Southern California) | 5.000% | 10/1/38 | 3,445 | 3,775 |
| California Educational Facilities Authority | ||||
| Revenue (University of Southern California) | 5.250% | 10/1/38 | 3,420 | 3,767 |
| California Educational Facilities Authority | ||||
| Revenue (University of Southern California) | 5.000% | 10/1/39 | 7,730 | 8,470 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/30 | 3,225 | 3,984 |
| California Educational Facilities Authority | ||||
| Revenue (University of the Pacific) | 5.000% | 11/1/36 | 3,235 | 3,850 |
| California GO | 5.000% | 9/1/16 (Prere.) | 5,710 | 5,774 |
| California GO | 5.000% | 9/1/16 (Prere.) | 4,940 | 4,995 |
| California GO | 5.000% | 6/1/17 (Prere.) | 4,175 | 4,359 |
| California GO | 5.000% | 6/1/17 (Prere.) | 12,365 | 12,910 |
| California GO | 5.000% | 6/1/17 (Prere.) | 12,635 | 13,190 |
| California GO | 6.000% | 8/1/19 (14) | 210 | 212 |
| California GO | 5.000% | 10/1/19 | 10,070 | 11,400 |
| California GO | 5.000% | 4/1/20 | 1,460 | 1,627 |
| California GO | 5.000% | 9/1/21 | 11,000 | 13,089 |
| California GO | 5.250% | 9/1/22 | 3,000 | 3,695 |
| California GO | 5.000% | 11/1/22 | 1,000 | 1,061 |
| California GO | 5.250% | 9/1/23 | 6,000 | 7,250 |
| California GO | 5.000% | 11/1/23 | 7,000 | 8,714 |
| California GO | 5.000% | 5/1/24 | 3,000 | 3,760 |
| California GO | 5.000% | 11/1/24 | 6,670 | 8,438 |
| California GO | 5.000% | 3/1/25 | 7,000 | 8,008 |
| California GO | 5.000% | 6/1/26 (14) | 15,825 | 16,492 |
| California GO | 5.000% | 3/1/27 | 10,000 | 12,444 |
| California GO | 5.250% | 10/1/27 | 5,000 | 6,017 |
| California GO | 5.100% | 11/1/27 | 1,475 | 1,730 |
| California GO | 5.000% | 3/1/28 | 10,000 | 12,383 |
| California GO | 5.000% | 8/1/28 | 2,875 | 3,587 |
| California GO | 4.000% | 9/1/28 | 6,000 | 7,008 |
| California GO | 5.000% | 9/1/28 | 2,500 | 2,727 |
| California GO | 5.000% | 9/1/29 | 5,125 | 5,590 |
| California GO | 5.000% | 10/1/29 | 1,400 | 1,585 |
| California GO | 5.250% | 10/1/29 | 4,700 | 5,360 |
| California GO | 5.250% | 3/1/30 | 10,000 | 11,548 |
139
| California Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| California GO | 4.500% | 8/1/30 | 1,440 | 1,475 | |
| California GO | 5.000% | 9/1/30 | 1,500 | 1,772 | |
| California GO | 5.250% | 9/1/30 | 6,000 | 7,162 | |
| California GO | 5.750% | 4/1/31 | 15,875 | 18,038 | |
| California GO | 5.000% | 8/1/31 | 9,460 | 11,665 | |
| California GO | 5.000% | 9/1/31 | 1,800 | 2,123 | |
| California GO | 5.000% | 10/1/31 | 4,500 | 5,559 | |
| California GO | 4.000% | 9/1/32 | 7,500 | 8,541 | |
| California GO | 5.000% | 9/1/32 | 1,045 | 1,231 | |
| California GO | 5.000% | 10/1/32 | 8,790 | 10,820 | |
| California GO | 5.000% | 2/1/33 | 2,615 | 3,138 | |
| California GO | 6.000% | 3/1/33 | 7,000 | 8,296 | |
| California GO | 5.125% | 4/1/33 | 8,500 | 9,135 | |
| California GO | 6.500% | 4/1/33 | 33,000 | 38,178 | |
| California GO | 5.000% | 8/1/33 | 2,635 | 3,221 | |
| California GO | 5.000% | 10/1/33 | 4,000 | 4,906 | |
| California GO | 5.250% | 4/1/35 | 5,000 | 6,043 | |
| California GO | 6.000% | 11/1/35 | 5,000 | 5,850 | |
| California GO | 5.000% | 9/1/36 | 8,500 | 10,117 | |
| California GO | 5.000% | 4/1/37 | 5,000 | 5,953 | |
| California GO | 5.250% | 3/1/38 | 8,000 | 8,600 | |
| California GO | 6.000% | 4/1/38 | 21,190 | 24,187 | |
| California GO | 5.250% | 8/1/38 | 10,000 | 10,927 | |
| California GO | 5.000% | 10/1/39 | 7,615 | 9,179 | |
| California GO | 5.500% | 11/1/39 | 3,690 | 4,241 | |
| California GO | 6.000% | 11/1/39 | 2,700 | 3,159 | |
| California GO | 5.500% | 3/1/40 | 11,500 | 13,409 | |
| California GO | 4.000% | 12/1/40 | 5,000 | 5,495 | |
| California GO | 5.000% | 10/1/41 | 5,000 | 5,860 | |
| California GO | 5.000% | 4/1/42 | 2,000 | 2,338 | |
| California GO | 5.000% | 9/1/42 | 8,515 | 10,051 | |
| California GO | 5.000% | 2/1/43 | 6,265 | 7,373 | |
| California GO | 5.000% | 4/1/43 | 6,500 | 7,676 | |
| California GO | 5.000% | 11/1/43 | 12,425 | 14,850 | |
| California GO | 5.000% | 12/1/43 | 5,335 | 6,387 | |
| California GO | 5.000% | 5/1/44 | 5,000 | 5,960 | |
| California GO | 5.000% | 8/1/45 | 11,735 | 14,103 | |
| 3 | California GO TOB VRDO | 0.440% | 6/7/16 (4) | 15,300 | 15,300 |
| California GO VRDO | 0.250% | 6/1/16 LOC | 3,625 | 3,625 | |
| California GO VRDO | 0.250% | 6/1/16 LOC | 1,700 | 1,700 | |
| California GO VRDO | 0.260% | 6/1/16 LOC | 3,300 | 3,300 | |
| California GO VRDO | 0.260% | 6/1/16 LOC | 3,400 | 3,400 | |
| California GO VRDO | 0.260% | 6/1/16 LOC | 10,900 | 10,900 | |
| California GO VRDO | 0.270% | 6/1/16 LOC | 1,100 | 1,100 | |
| California GO VRDO | 0.380% | 6/7/16 LOC | 3,900 | 3,900 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Adventist Health System/West) | 5.000% | 3/1/25 | 3,000 | 3,626 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Adventist Health System/West) | 4.000% | 3/1/33 | 1,000 | 1,072 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Catholic Healthcare West) | 5.625% | 7/1/25 | 5,000 | 5,693 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Catholic Healthcare West) | 5.250% | 3/1/27 | 2,500 | 2,933 | |
| 140 | |||||
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 6.000% | 7/1/39 | 5,000 | 5,714 |
| California Health Facilities Financing Authority | ||||
| Revenue (Catholic Healthcare West) | 5.250% | 3/1/41 | 9,000 | 10,158 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 11/15/27 | 5,000 | 6,301 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 11/15/30 | 2,000 | 2,489 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 8/15/34 | 2,415 | 2,701 |
| California Health Facilities Financing Authority | ||||
| Revenue (Cedars-Sinai Medical Center) | 5.000% | 8/15/39 | 4,995 | 5,565 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Los Angeles) | 5.000% | 11/15/29 | 3,500 | 3,967 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Orange County) | 6.500% | 11/1/38 | 3,000 | 3,534 |
| California Health Facilities Financing Authority | ||||
| Revenue (Children’s Hospital of Orange County) | 5.250% | 11/1/41 | 4,025 | 4,644 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/37 | 2,000 | 2,293 |
| California Health Facilities Financing Authority | ||||
| Revenue (Chinese Hospital Association) | 5.000% | 6/1/42 | 5,000 | 5,737 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/35 | 7,750 | 9,044 |
| California Health Facilities Financing Authority | ||||
| Revenue (City of Hope Medical Center) | 5.000% | 11/15/39 | 4,465 | 5,187 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/26 | 2,740 | 3,392 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/27 | 1,840 | 2,257 |
| California Health Facilities Financing Authority | ||||
| Revenue (El Camino Hospital) | 5.000% | 2/1/40 | 6,000 | 6,964 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospitalat Stanford) | 5.000% | 8/15/43 | 5,300 | 6,196 |
| California Health Facilities Financing Authority | ||||
| Revenue (Lucile Salter Packard Children’s | ||||
| Hospitalat Stanford) | 5.000% | 8/15/55 | 7,000 | 8,290 |
| California Health Facilities Financing Authority | ||||
| Revenue (Marshall Medical Center) | 5.000% | 11/1/29 | 1,000 | 1,195 |
| California Health Facilities Financing Authority | ||||
| Revenue (Marshall Medical Center) | 5.000% | 11/1/33 | 1,100 | 1,297 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/25 | 2,750 | 3,285 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/26 | 5,000 | 5,932 |
| California Health Facilities Financing Authority | ||||
| Revenue (Memorial Health Services) | 5.000% | 10/1/33 | 2,500 | 2,912 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/34 | 645 | 765 |
| California Health Facilities Financing Authority | ||||
| Revenue (Northern California Presbyterian | ||||
| Homes & Services) | 5.000% | 7/1/39 | 1,600 | 1,885 |
141
| California Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| California Health Facilities Financing Authority | |||||
| Revenue (Northern California Presbyterian | |||||
| Homes & Services) | 5.000% | 7/1/44 | 1,500 | 1,767 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Providence Health & Services) | 6.500% | 10/1/18 (Prere.) | 2,000 | 2,267 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/29 | 2,390 | 2,907 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Providence Health & Services) | 5.000% | 10/1/38 | 6,000 | 7,072 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Providence Health & Services) | 5.500% | 10/1/39 | 6,500 | 7,399 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Rady Children’s Hospital) | 5.500% | 8/15/33 | 3,920 | 4,644 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Scripps Health) | 5.000% | 11/15/40 | 8,000 | 9,101 | |
| California Health Facilities Financing Authority | |||||
| Revenue (St. Joseph Health System) | 5.750% | 7/1/39 | 7,000 | 8,018 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Stanford Hospital) | 5.000% | 8/15/42 | 5,000 | 5,730 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Stanford Hospital) | 5.000% | 8/15/51 | 5,000 | 5,717 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Stanford Hospital) | 5.000% | 8/15/54 | 2,000 | 2,356 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Sutter Health) | 5.250% | 8/15/22 | 5,000 | 5,489 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Sutter Health) | 5.875% | 8/15/31 | 4,000 | 4,825 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Sutter Health) | 4.000% | 8/15/40 | 6,500 | 7,036 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Sutter Health) | 5.000% | 8/15/43 | 9,000 | 10,629 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Sutter Health) | 5.000% | 11/15/46 | 7,000 | 8,325 | |
| California Health Facilities Financing Authority | |||||
| Revenue (Sutter Health) | 5.250% | 11/15/46 | 10,000 | 10,219 | |
| 3 | California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) TOB VRDO | 0.430% | 6/7/16 | 12,845 | 12,845 | |
| 3 | California Health Facilities Financing Authority | ||||
| Revenue (Sutter Health) TOB VRDO | 0.430% | 6/7/16 | 7,185 | 7,185 | |
| California Infrastructure & Economic | |||||
| Development Bank Revenue | 5.000% | 10/1/26 | 10,320 | 13,411 | |
| California Infrastructure & Economic | |||||
| Development Bank Revenue | 5.000% | 10/1/28 | 3,400 | 4,367 | |
| California Infrastructure & Economic | |||||
| Development Bank Revenue | 5.000% | 10/1/34 | 5,000 | 6,262 | |
| California Infrastructure & Economic Development | |||||
| Bank Revenue (Academy of Motion Picture Arts | |||||
| & Sciences Obligated Group) | 5.000% | 11/1/30 | 2,000 | 2,446 | |
| California Infrastructure & Economic Development | |||||
| Bank Revenue (Academy of Motion | |||||
| Picture Arts & Sciences Obligated Group) | 5.000% | 11/1/41 | 6,000 | 7,099 | |
| 3 | California Infrastructure & Economic Development | ||||
| Bank Revenue (Bay Area Toll Bridges | |||||
| Seismic Retrofit) TOB VRDO | 0.480% | 6/1/16 (ETM) | 20,010 | 20,010 | |
| 142 | |||||
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Infrastructure & Economic Development | ||||
| Bank Revenue (Pacific Gas & Electric Co.) VRDO | 0.270% | 6/1/16 LOC | 1,000 | 1,000 |
| California Infrastructure & Economic Development | ||||
| Bank Revenue (Science Center Phase II Project) | 5.000% | 5/1/31 (14) | 4,135 | 4,147 |
| California Municipal Finance Authority (Community | ||||
| Hospitals of Central California Obligated Group) | ||||
| COP | 5.250% | 2/1/17 (Prere.) | 425 | 438 |
| California Municipal Finance Authority (Community | ||||
| Hospitals of Central California Obligated Group) | ||||
| COP | 5.500% | 2/1/39 | 11,000 | 12,173 |
| California Municipal Finance Authority (Community | ||||
| Hospitals of Central California Obligated Group) | ||||
| COP | 5.250% | 2/1/46 | 3,225 | 3,279 |
| California Municipal Finance Authority Recovery | ||||
| Zone Revenue (Chevron USA Inc. Project) | ||||
| VRDO | 0.280% | 6/1/16 | 8,525 | 8,525 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Electric Utility Distribution System) | 5.000% | 10/1/23 | 1,200 | 1,496 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Electric Utility Distribution System) | 5.000% | 10/1/33 | 2,120 | 2,598 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Electric Utility Distribution System) | 5.000% | 10/1/34 | 1,340 | 1,635 |
| California Municipal Finance Authority Revenue | ||||
| (Anaheim Water System Project Revenue) | 4.000% | 10/1/34 | 4,560 | 5,072 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/35 | 2,000 | 2,283 |
| California Municipal Finance Authority Revenue | ||||
| (Azusa Pacific University) | 5.000% | 4/1/41 | 3,000 | 3,376 |
| California Municipal Finance Authority Revenue | ||||
| (Biola University) | 5.000% | 10/1/38 | 1,255 | 1,416 |
| California Municipal Finance Authority Revenue | ||||
| (Biola University) | 5.000% | 10/1/42 | 2,500 | 2,806 |
| California Municipal Finance Authority Revenue | ||||
| (Community Hospitals of Central California | ||||
| Obligated Group) | 5.000% | 2/1/40 | 5,000 | 5,737 |
| California Municipal Finance Authority Revenue | ||||
| (NorthBay Healthcare Group) | 5.000% | 11/1/35 | 690 | 782 |
| California Municipal Finance Authority Revenue | ||||
| (NorthBay Healthcare Group) | 5.000% | 11/1/44 | 1,800 | 2,029 |
| California Municipal Finance Authority Revenue | ||||
| (University of La Verne) | 5.250% | 6/1/20 | 2,420 | 2,756 |
| California Municipal Finance Authority Student | ||||
| Housing Revenue (Bowles Hall Foundation) | 5.000% | 6/1/50 | 2,580 | 2,872 |
| California Pollution Control Financing Authority | ||||
| Water Furnishing Revenue (San Diego County | ||||
| Water Authority Desalination Project Pipeline) | 5.000% | 11/21/45 | 1,500 | 1,552 |
| California Public Works Board Lease Revenue | ||||
| (Community Colleges) | 5.000% | 3/1/27 (14) | 2,970 | 3,061 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 6.500% | 9/1/17 (ETM) | 8,400 | 8,753 |
| California Public Works Board Lease Revenue | ||||
| (Department of Corrections) | 4.500% | 9/1/35 | 4,000 | 4,567 |
| California Public Works Board Lease Revenue | ||||
| (Department of General Services) | 6.000% | 4/1/25 | 6,000 | 6,875 |
143
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Public Works Board Lease Revenue | ||||
| (Department of General Services) | 6.250% | 4/1/34 | 8,250 | 9,566 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/29 | 2,500 | 3,002 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/34 | 1,300 | 1,546 |
| California Public Works Board Lease Revenue | ||||
| (Judicial Council Projects) | 5.000% | 3/1/38 | 3,375 | 3,988 |
| California Public Works Board Lease Revenue | ||||
| (Office of Emergency Services) | 5.000% | 3/1/27 (14) | 8,950 | 9,225 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 4/1/23 | 4,180 | 5,003 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/23 | 2,000 | 2,427 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 6.250% | 11/1/24 | 5,000 | 5,908 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/26 | 5,000 | 6,070 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.500% | 11/1/33 | 2,330 | 2,919 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 11/1/37 | 5,000 | 5,863 |
| California Public Works Board Lease Revenue | ||||
| (Various Capital Projects) | 5.000% | 9/1/39 | 3,000 | 3,576 |
| California State University Systemwide Revenue | 5.250% | 5/1/19 (Prere.) | 3,280 | 3,694 |
| California State University Systemwide Revenue | 5.250% | 5/1/19 (Prere.) | 5,000 | 5,631 |
| California State University Systemwide Revenue | 5.750% | 5/1/19 (Prere.) | 4,500 | 5,133 |
| California State University Systemwide Revenue | 5.000% | 11/1/24 | 2,000 | 2,381 |
| California State University Systemwide Revenue | 5.000% | 11/1/26 | 3,000 | 3,843 |
| California State University Systemwide Revenue | 5.000% | 11/1/30 | 13,650 | 17,177 |
| California State University Systemwide Revenue | 5.000% | 11/1/30 | 2,500 | 3,133 |
| California State University Systemwide Revenue | 5.000% | 11/1/31 | 7,000 | 8,687 |
| California State University Systemwide Revenue | 5.000% | 11/1/31 | 5,150 | 6,449 |
| California State University Systemwide Revenue | 5.000% | 11/1/32 | 7,000 | 8,656 |
| California State University Systemwide Revenue | 5.000% | 11/1/32 | 6,510 | 8,119 |
| California State University Systemwide Revenue | 4.000% | 11/1/37 | 1,875 | 2,082 |
| California State University Systemwide Revenue | 5.000% | 11/1/37 | 3,750 | 4,459 |
| California State University Systemwide Revenue | 5.000% | 11/1/37 | 10,000 | 11,765 |
| California State University Systemwide Revenue | 4.000% | 11/1/38 | 1,385 | 1,540 |
| California State University Systemwide Revenue | 5.000% | 11/1/38 | 4,000 | 4,864 |
| California State University Systemwide Revenue | 5.000% | 11/1/41 | 12,550 | 15,303 |
| California State University Systemwide Revenue | 5.000% | 11/1/42 | 1,355 | 1,590 |
| California State University Systemwide Revenue | 5.000% | 11/1/43 | 1,810 | 2,186 |
| California State University Systemwide Revenue | 5.000% | 11/1/47 | 8,620 | 10,375 |
| California State University Systemwide Revenue | ||||
| PUT | 3.000% | 11/1/19 | 7,000 | 7,379 |
| California Statewide Communities Development | ||||
| Authority Revenue (899 Charleston Project) | 5.250% | 11/1/44 | 1,000 | 1,068 |
| California Statewide Communities Development | ||||
| Authority Revenue (899 Charleston Project) | 5.375% | 11/1/49 | 2,300 | 2,465 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/27 | 2,000 | 2,493 |
144
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/31 | 4,745 | 5,802 |
| California Statewide Communities Development | ||||
| Authority Revenue (Adventist Health | ||||
| System/West) | 5.000% | 3/1/45 | 4,315 | 5,084 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/29 (4) | 940 | 1,138 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/44 (4) | 5,500 | 6,432 |
| California Statewide Communities Development | ||||
| Authority Revenue (Buck Institute for Age | ||||
| Research) | 5.000% | 11/15/49 (4) | 1,000 | 1,166 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/39 | 310 | 364 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/40 | 7,200 | 8,063 |
| California Statewide Communities Development | ||||
| Authority Revenue (Cottage Health System | ||||
| Obligated Group) | 5.000% | 11/1/43 | 13,705 | 16,086 |
| California Statewide Communities Development | ||||
| Authority Revenue (Covenant Retirement | ||||
| Communities Inc.) | 5.625% | 12/1/36 | 4,000 | 4,498 |
| California Statewide Communities Development | ||||
| Authority Revenue (Daughters of Charity Health | ||||
| System) | 5.500% | 7/1/30 | 5,000 | 5,000 |
| California Statewide Communities Development | ||||
| Authority Revenue (Daughters of Charity Health | ||||
| System) | 5.500% | 7/1/35 | 1,515 | 1,517 |
| California Statewide Communities Development | ||||
| Authority Revenue (Episcopal Communities & | ||||
| Services) | 5.000% | 5/15/42 | 2,500 | 2,785 |
| California Statewide Communities Development | ||||
| Authority Revenue (Episcopal Communities & | ||||
| Services) | 5.000% | 5/15/47 | 2,000 | 2,220 |
| California Statewide Communities Development | ||||
| Authority Revenue (Huntington Memorial | ||||
| Hospital) | 5.000% | 7/1/44 | 5,800 | 6,708 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) | 4.750% | 4/1/33 | 4,185 | 4,309 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) | 5.000% | 4/1/42 | 15,425 | 17,786 |
| California Statewide Communities Development | ||||
| Authority Revenue (Kaiser Permanente) VRDO | 0.360% | 6/7/16 | 8,000 | 8,000 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.000% | 12/1/36 | 2,000 | 2,248 |
| California Statewide Communities Development | ||||
| Authority Revenue (Loma Linda University | ||||
| Medical Center) | 5.250% | 12/1/56 | 3,000 | 3,372 |
145
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.250% | 8/15/31 | 2,500 | 2,923 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.000% | 8/15/32 | 11,000 | 13,015 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.000% | 8/15/38 (2) | 2,900 | 3,041 |
| California Statewide Communities Development | ||||
| Authority Revenue (Sutter Health) | 5.000% | 11/15/38 | 4,250 | 4,570 |
| California Statewide Communities Development | ||||
| Authority Revenue (Trinity Health) | 5.000% | 12/1/41 | 11,000 | 12,514 |
| California Statewide Communities Development | ||||
| Authority Senior Living Revenue (Southern | ||||
| California Presbyterian Homes) | 7.250% | 11/15/41 | 3,000 | 3,494 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/30 | 1,500 | 1,839 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/32 | 1,250 | 1,518 |
| California Statewide Communities Development | ||||
| Authority Student Housing Revenue (CHF-Irvine | ||||
| LLC - UCI East Campus Apartments Phase II) | 5.000% | 5/15/40 | 3,000 | 3,544 |
| Calleguas-Las Virgenes CA Public Financing | ||||
| Authority Revenue (Municipal Water District | ||||
| Project) VRDO | 0.360% | 6/7/16 LOC | 1,100 | 1,100 |
| Centinela Valley CA Union High School | ||||
| District GO | 6.000% | 8/1/36 | 3,000 | 3,836 |
| Central School District San Bernardino | ||||
| California GO | 5.000% | 8/1/47 | 3,000 | 3,595 |
| Cerritos CA Community College District GO | 4.000% | 8/1/33 | 2,135 | 2,370 |
| Cerritos CA Community College District GO | 0.000% | 8/1/34 | 4,000 | 2,223 |
| Cerritos CA Community College District GO | 0.000% | 8/1/35 | 1,730 | 919 |
| Cerritos CA Community College District GO | 5.000% | 8/1/38 | 7,000 | 8,235 |
| Chabot-Las Positas CA Community College | ||||
| District GO | 5.000% | 8/1/25 | 5,000 | 6,111 |
| Chabot-Las Positas CA Community College | ||||
| District GO | 5.000% | 8/1/30 | 3,500 | 4,153 |
| Charter Oak CA Unified School District GO | 5.000% | 8/1/31 (4) | 1,380 | 1,666 |
| Charter Oak CA Unified School District GO | 5.000% | 8/1/33 (4) | 1,755 | 2,106 |
| Citrus CA Community College District GO | 0.000% | 8/1/36 | 1,810 | 1,434 |
| Citrus CA Community College District GO | 0.000% | 8/1/37 | 2,475 | 1,954 |
| Citrus CA Community College District GO | 0.000% | 8/1/38 | 2,150 | 1,691 |
| Coast CA Community College District GO | 5.000% | 8/1/27 | 5,700 | 7,043 |
| Colton CA Joint Unified School District GO | 5.000% | 8/1/27 (4) | 2,535 | 3,043 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/29 (4) | 2,000 | 1,249 |
| Conejo Valley CA Unified School District GO | 0.000% | 8/1/30 (4) | 1,865 | 1,101 |
| Contra Costa CA Community College District GO | 5.000% | 8/1/38 | 3,600 | 4,312 |
| Contra Costa CA Transportation Authority Sales | ||||
| Tax Revenue | 5.000% | 3/1/20 (Prere.) | 1,085 | 1,245 |
| Contra Costa CA Transportation Authority Sales | ||||
| Tax Revenue | 5.000% | 3/1/34 | 1,970 | 2,336 |
| Cotati-Rohnert Park CA Unified School District GO | 5.000% | 8/1/44 (4) | 3,000 | 3,493 |
| Cupertino CA Union School District GO | 5.000% | 8/1/36 | 3,000 | 3,662 |
| Del Mar CA Race Track Authority Revenue | 5.000% | 10/1/38 | 1,500 | 1,522 |
146
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/30 | 3,305 | 4,079 |
| East Bay CA Municipal Utility District Water | ||||
| System Revenue | 5.000% | 6/1/30 | 1,500 | 1,851 |
| East Bay CA Regional Park District Revenue | 5.000% | 9/1/25 | 2,000 | 2,251 |
| East Bay CA Regional Park District Revenue | 5.000% | 9/1/27 | 4,070 | 4,568 |
| Eastern California Municipal Water District Water | ||||
| & Sewer | 5.000% | 7/1/39 | 2,030 | 2,482 |
| El Camino CA Community College District GO | 5.000% | 8/1/32 | 1,000 | 1,258 |
| El Camino CA Community College District GO | 5.000% | 8/1/33 | 1,115 | 1,398 |
| El Camino CA Community College District GO | 5.000% | 8/1/37 | 1,550 | 1,905 |
| El Dorado CA Irrigation District Revenue | 5.250% | 3/1/39 (4) | 7,500 | 8,991 |
| Encinitas CA Community Facilities District No. 1 | ||||
| Special Tax Revenue | 5.000% | 9/1/27 | 1,000 | 1,164 |
| Escondido CA GO | 5.000% | 9/1/30 | 2,030 | 2,519 |
| Escondido CA Union High School District GO | 0.000% | 11/1/20 (14) | 4,000 | 3,634 |
| Fontana CA Public Financing Authority Tax | ||||
| Allocation Revenue | 5.000% | 10/1/29 (2) | 9,450 | 9,483 |
| Fontana CA Public Financing Authority Tax | ||||
| Allocation Revenue | 5.000% | 10/1/32 (2) | 5,000 | 5,015 |
| Foothill-De Anza CA Community College | ||||
| District GO | 0.000% | 8/1/17 (14) | 3,000 | 2,973 |
| Foothill-De Anza CA Community College | ||||
| District GO | 0.000% | 8/1/22 (14) | 3,850 | 3,452 |
| Foothill-De Anza CA Community College | ||||
| District GO | 0.000% | 8/1/23 (14) | 3,590 | 3,125 |
| Foothill-De Anza CA Community College | ||||
| District GO | 0.000% | 8/1/25 (14) | 2,390 | 1,961 |
| Foothill-De Anza CA Community College | ||||
| District GO | 5.000% | 8/1/40 | 10,000 | 11,590 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 0.000% | 1/15/42 | 9,000 | 7,620 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 6.500% | 1/15/43 | 2,200 | 2,636 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 5.750% | 1/15/46 | 13,500 | 15,882 |
| Foothill/Eastern Transportation Corridor Agency | ||||
| California Toll Road Revenue | 6.000% | 1/15/53 | 6,675 | 7,890 |
| Gavilan CA Joint Community College District GO | 5.500% | 8/1/28 (2) | 90 | 90 |
| Gilroy CA School Facilities Finance Authority | ||||
| Revenue | 5.000% | 8/1/46 | 5,000 | 5,869 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/35 | 5,000 | 5,988 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/40 | 20,000 | 23,706 |
| Golden State Tobacco Securitization Corp. | ||||
| California Revenue | 5.000% | 6/1/45 | 7,040 | 8,314 |
| Grossmont CA Healthcare District GO | 6.125% | 7/15/21 (Prere.) | 2,500 | 3,110 |
| Grossmont CA Union High School District GO | 0.000% | 8/1/30 | 6,500 | 4,277 |
| Hayward CA Unified School District GO | 5.000% | 8/1/31 (4) | 3,780 | 4,517 |
| Hayward CA Unified School District GO | 5.000% | 8/1/31 (4) | 3,500 | 4,183 |
| Hemet CA Unified School District Financing | ||||
| Authority Special Tax Revenue | 5.000% | 9/1/39 | 1,100 | 1,244 |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/32 | 2,750 | 3,410 |
147
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Imperial CA Irrigation District Electric Revenue | 5.000% | 11/1/45 | 4,000 | 4,801 |
| Irvine CA Assessment District No. 97-16 | ||||
| Improvement Revenue VRDO | 0.300% | 6/1/16 LOC | 4,885 | 4,885 |
| Irvine CA Public Facilities & Infrastructure | ||||
| Authority Assessment Revenue VRDO | 0.300% | 6/1/16 LOC | 2,507 | 2,507 |
| Irvine CA Ranch Water District Revenue VRDO | 0.310% | 6/1/16 LOC | 1,300 | 1,300 |
| Irvine CA Unified School District Community | ||||
| Facilities District No. 09-1 Special Tax Revenue | ||||
| VRDO | 0.310% | 6/1/16 LOC | 7,800 | 7,800 |
| Irvine CA Unified School District Community | ||||
| Facilities District No. 09-A Special Tax Revenue | ||||
| VRDO | 0.310% | 6/1/16 LOC | 8,450 | 8,450 |
| Jefferson CA Union High School District GO | 5.000% | 8/1/26 (15) | 1,000 | 1,243 |
| Kaweah CA Delta Health Care District Revenue | 4.000% | 6/1/45 | 8,000 | 8,433 |
| Kern CA High School District GO | 6.400% | 8/1/16 (ETM) | 1,815 | 1,833 |
| Kern County CA GO | 5.750% | 8/1/35 (12) | 2,000 | 2,234 |
| La Quinta CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 9/1/34 | 1,050 | 1,243 |
| La Verne CA (Brethren Hillcrest Homes) COP | 5.000% | 5/15/36 | 2,450 | 2,677 |
| Las Virgenes CA Unified School District GO | 0.000% | 9/1/26 (14) | 6,140 | 4,782 |
| Long Beach CA Airport Revenue | 5.000% | 6/1/40 | 4,440 | 5,010 |
| Long Beach CA Community College District GO | 0.000% | 8/1/34 | 2,520 | 1,368 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 1.850% | 11/15/26 | 1,800 | 1,701 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.000% | 11/15/29 | 800 | 974 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.000% | 11/15/35 | 1,180 | 1,457 |
| Long Beach CA Finance Authority Natural Gas | ||||
| Purchase Revenue | 5.500% | 11/15/37 | 2,600 | 3,422 |
| Long Beach CA Finance Authority Tax Revenue | 5.500% | 8/1/26 (2) | 7,570 | 9,327 |
| Long Beach CA Finance Authority Tax Revenue | 5.500% | 8/1/31 (2) | 4,015 | 5,214 |
| Long Beach CA Harbor Revenue | 5.000% | 5/15/39 | 1,500 | 1,809 |
| Long Beach CA Harbor Revenue | 5.000% | 5/15/42 | 2,000 | 2,415 |
| Long Beach CA Unified School District GO | 0.000% | 8/1/26 | 1,870 | 1,424 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/17 (Prere.) | 7,340 | 7,715 |
| Los Angeles CA Community College District GO | 5.500% | 8/1/19 (Prere.) | 3,980 | 4,547 |
| Los Angeles CA Community College District GO | 6.000% | 8/1/19 (Prere.) | 5,160 | 5,976 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/25 | 6,100 | 7,718 |
| Los Angeles CA Community College District GO | 5.000% | 6/1/26 | 3,000 | 3,911 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/28 | 3,500 | 4,386 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/28 | 6,000 | 7,520 |
| Los Angeles CA Community College District GO | 5.000% | 8/1/30 | 5,500 | 6,836 |
| Los Angeles CA Community College District GO | 4.000% | 8/1/33 | 3,500 | 3,932 |
| Los Angeles CA Community College District GO | 5.250% | 8/1/39 | 5,000 | 5,825 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.250% | 5/15/27 | 5,000 | 5,809 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/29 | 5,000 | 5,740 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/30 | 3,195 | 3,681 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/30 | 14,590 | 16,780 |
148
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/35 | 16,000 | 18,964 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/35 | 4,000 | 4,562 |
| Los Angeles CA Department of Airports | ||||
| International Airport Revenue | 5.000% | 5/15/38 | 4,500 | 5,394 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/25 | 4,070 | 4,480 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/27 | 10,000 | 12,155 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/29 (2) | 10,000 | 10,460 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/29 | 5,000 | 6,186 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/30 (2) | 16,000 | 16,750 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/31 | 1,355 | 1,696 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/32 (2) | 5,000 | 5,231 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.250% | 7/1/32 | 7,000 | 7,650 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/33 | 2,500 | 3,080 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.375% | 7/1/34 | 3,000 | 3,330 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/35 | 3,500 | 4,295 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/36 | 5,000 | 5,744 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/36 | 3,750 | 4,620 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/36 | 10,000 | 11,880 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/37 | 1,545 | 1,832 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/38 | 12,365 | 14,596 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/38 | 1,750 | 2,135 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.250% | 7/1/38 | 1,890 | 2,054 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/39 | 4,000 | 4,828 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.250% | 7/1/39 | 2,000 | 2,314 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/40 | 2,000 | 2,433 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/43 | 10,150 | 11,911 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/43 | 5,000 | 5,938 |
| Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/43 | 5,000 | 5,928 |
149
| California Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| Los Angeles CA Department of Water & Power | |||||
| Revenue | 5.000% | 7/1/44 | 13,950 | 16,714 | |
| Los Angeles CA Department of Water & Power | |||||
| Revenue | 5.000% | 7/1/46 | 7,000 | 8,470 | |
| Los Angeles CA Department of Water & Power | |||||
| Revenue | 5.000% | 7/1/46 | 9,930 | 12,043 | |
| Los Angeles CA Department of Water & Power | |||||
| Revenue VRDO | 0.270% | 6/1/16 | 4,000 | 4,000 | |
| Los Angeles CA Department of Water & Power | |||||
| Revenue VRDO | 0.270% | 6/1/16 | 3,400 | 3,400 | |
| Los Angeles CA Department of Water & Power | |||||
| Revenue VRDO | 0.280% | 6/1/16 | 1,000 | 1,000 | |
| Los Angeles CA Department of Water & Power | |||||
| Revenue VRDO | 0.380% | 6/7/16 | 6,000 | 6,000 | |
| 4 | Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/42 | 4,500 | 5,460 | |
| 4 | Los Angeles CA Department of Water & Power | ||||
| Revenue | 5.000% | 7/1/46 | 2,500 | 3,024 | |
| Los Angeles CA GO | 5.000% | 9/1/31 | 5,785 | 6,748 | |
| 4 | Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/26 | 1,290 | 1,655 | |
| 4 | Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/27 | 1,210 | 1,545 | |
| 4 | Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/29 | 3,000 | 3,774 | |
| 4 | Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 5.000% | 11/1/30 | 2,400 | 3,006 | |
| 4 | Los Angeles CA Municipal Improvement Corp. | ||||
| Lease Revenue | 4.000% | 11/1/33 | 5,200 | 5,825 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 2,645 | 2,655 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 7,675 | 7,703 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/16 (Prere.) | 7,500 | 7,527 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/20 (3) | 2,655 | 2,665 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/21 | 3,500 | 3,938 | |
| Los Angeles CA Unified School District GO | 5.250% | 7/1/24 | 6,275 | 7,096 | |
| Los Angeles CA Unified School District GO | 5.250% | 7/1/25 | 5,000 | 5,651 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/26 | 5,000 | 6,269 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/28 | 8,000 | 9,908 | |
| Los Angeles CA Unified School District GO | 5.250% | 7/1/28 | 5,500 | 6,417 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/30 | 2,860 | 3,524 | |
| Los Angeles CA Unified School District GO | 4.500% | 7/1/31 (2) | 2,225 | 2,311 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/32 (4) | 8,000 | 8,363 | |
| Los Angeles CA Unified School District GO | 5.000% | 1/1/34 | 5,000 | 5,618 | |
| Los Angeles CA Unified School District GO | 5.250% | 7/1/34 | 10,000 | 11,562 | |
| Los Angeles CA Unified School District GO | 4.000% | 7/1/35 | 5,000 | 5,572 | |
| Los Angeles CA Unified School District GO | 5.000% | 7/1/40 | 5,000 | 6,010 | |
| Los Angeles CA Wastewater System Revenue | 5.000% | 6/1/43 | 2,840 | 3,374 | |
| 4 | Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/28 | 7,570 | 9,707 | |
| Los Angeles County CA Metropolitan | |||||
| Transportation Authority Revenue (Union Station | |||||
| Gateway Project) | 5.000% | 7/1/27 | 2,000 | 2,535 | |
| Los Angeles County CA Metropolitan | |||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/21 | 2,000 | 2,383 | |
| 150 | |||||
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| 4 Los Angeles County CA Metropolitan | ||||
| Transportation Authority Sales Tax Revenue | 5.000% | 7/1/27 | 3,235 | 4,174 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/37 | 2,750 | 3,214 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Lease Revenue | 5.000% | 8/1/42 | 5,940 | 6,958 |
| Los Angeles County CA Public Works Financing | ||||
| Authority Revenue | 5.500% | 10/1/18 (4) | 900 | 948 |
| Los Angeles County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 10/1/35 | 4,000 | 4,846 |
| Los Angeles County CA Schools Regionalized | ||||
| Business Services Corp. COP | 0.000% | 8/1/20 (2) | 2,095 | 1,915 |
| M-S-R California Energy Authority Revenue | 7.000% | 11/1/34 | 7,000 | 10,478 |
| M-S-R California Energy Authority Revenue | 6.500% | 11/1/39 | 3,500 | 5,033 |
| M-S-R California Public Power Agency Revenue | ||||
| (San Juan Project) | 6.750% | 7/1/20 (ETM) | 6,335 | 7,095 |
| Marin CA Healthcare District GO | 5.000% | 8/1/29 | 555 | 691 |
| Marina Coast Water District California Enterprise | ||||
| Revenue | 5.000% | 6/1/37 | 4,085 | 4,789 |
| Metropolitan Water District of Southern California | ||||
| Revenue | 5.000% | 7/1/21 | 2,500 | 2,986 |
| Metropolitan Water District of Southern California | ||||
| Revenue | 5.000% | 7/1/28 | 4,235 | 4,251 |
| Metropolitan Water District of Southern California | ||||
| Revenue | 5.000% | 7/1/31 | 3,000 | 3,364 |
| Metropolitan Water District of Southern California | ||||
| Revenue | 5.000% | 10/1/33 | 6,000 | 7,172 |
| Metropolitan Water District of Southern California | ||||
| Revenue | 5.000% | 10/1/35 | 2,855 | 3,406 |
| Metropolitan Water District of Southern California | ||||
| Revenue | 5.000% | 7/1/40 | 4,500 | 5,450 |
| Metropolitan Water District of Southern California | ||||
| Revenue VRDO | 0.360% | 6/7/16 | 12,900 | 12,900 |
| Milpitas CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/26 | 2,085 | 2,601 |
| Milpitas CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/30 | 4,000 | 4,894 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/16 (Prere.) | 2,200 | 2,233 |
| Modesto CA Irrigation District COP | 5.500% | 7/1/35 | 1,000 | 1,088 |
| Modesto CA Irrigation District COP | 5.000% | 10/1/36 (2) | 2,595 | 2,629 |
| Modesto CA Irrigation District Financing Authority | ||||
| Electric Revenue | 5.000% | 10/1/40 | 6,000 | 7,088 |
| Modesto CA Irrigation District Financing Authority | ||||
| Revenue (Woodland Project) | 6.500% | 10/1/22 (ETM) | 6,955 | 8,108 |
| Modesto CA Multifamily Housing Revenue | ||||
| (Westdale Commons Apartments) VRDO | 0.400% | 6/7/16 LOC | 3,900 | 3,900 |
| New Haven CA Unified School District GO | 5.000% | 8/1/27 (15) | 3,000 | 3,676 |
| New Haven CA Unified School District GO | 5.000% | 8/1/28 (15) | 2,000 | 2,439 |
| Newark CA Unified School District GO | 5.000% | 8/1/44 | 6,000 | 7,195 |
| Newport Beach CA Revenue (Hoag Memorial | ||||
| Hospital Presbyterian) | 6.000% | 12/1/21 (Prere.) | 3,525 | 4,413 |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/35 | 4,000 | 2,206 |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/36 | 1,000 | 531 |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/37 | 2,000 | 1,028 |
151
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Newport Mesa CA Unified School District GO | 0.000% | 8/1/38 | 1,000 | 497 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 6.300% | 7/1/18 (14) | 6,425 | 6,808 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 7.500% | 7/1/21 (Prere.) | 1,810 | 2,199 |
| Northern California Power Agency Revenue | ||||
| (Hydroelectric Project) | 5.000% | 7/1/27 | 3,255 | 3,896 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/25 | 1,825 | 2,038 |
| Northstar Community Services District California | ||||
| Community Facilities District No. 1 Special Tax | ||||
| Revenue | 5.000% | 9/1/26 | 1,995 | 2,205 |
| Novato CA Unified School District GO | 5.000% | 8/1/28 | 800 | 992 |
| Oakland CA GO | 5.000% | 1/15/29 | 1,640 | 2,017 |
| Oakland CA GO | 5.000% | 1/15/31 | 3,550 | 4,044 |
| Oakland CA Unified School District GO | 5.000% | 8/1/35 | 2,850 | 3,341 |
| Oakland CA Unified School District GO | 6.625% | 8/1/38 | 1,000 | 1,222 |
| Oakland CA Unified School District GO | 5.000% | 8/1/40 | 500 | 583 |
| Oceanside CA Unified School District GO | 0.000% | 8/1/25 (12) | 6,865 | 5,471 |
| Ohlone CA Community College District GO | 5.250% | 8/1/41 | 5,000 | 5,905 |
| Palmdale CA COP | 5.250% | 9/1/19 (14) | 350 | 351 |
| Palmdale CA COP | 5.250% | 9/1/20 (14) | 345 | 346 |
| Palmdale CA COP | 5.250% | 9/1/21 (14) | 435 | 437 |
| Palmdale CA COP | 5.250% | 9/1/22 (14) | 530 | 532 |
| Palo Alto CA Improvement Revenue (University | ||||
| Avenue Area Parking) | 4.250% | 9/2/22 | 200 | 226 |
| Palo Alto CA Improvement Revenue (University | ||||
| Avenue Area Parking) | 5.000% | 9/2/26 | 1,000 | 1,148 |
| Palomar CA Community College District GO | 0.000% | 8/1/24 | 5,125 | 4,321 |
| Palomar Pomerado Health California COP | 6.000% | 11/1/41 | 3,000 | 3,204 |
| Palomar Pomerado Health California GO | 4.500% | 8/1/32 (14) | 12,000 | 12,417 |
| Palomar Pomerado Health California GO | 0.000% | 8/1/33 (12) | 4,000 | 2,179 |
| Palomar Pomerado Health California GO | 0.000% | 8/1/36 | 5,000 | 2,267 |
| Paramount CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | ||||
| (Redevelopment Project Area No. 1) | 0.000% | 8/1/26 (14) | 3,000 | 2,165 |
| Pasadena CA Unified School District GO | 5.000% | 5/1/34 | 4,000 | 4,723 |
| Peralta CA Community College District Revenue | 5.000% | 8/1/39 | 4,000 | 4,473 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 0.000% | 8/1/19 (2) | 1,800 | 1,701 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 0.000% | 8/1/21 (2) | 2,920 | 2,632 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 0.000% | 8/1/22 (2) | 4,125 | 3,619 |
| Pittsburg CA Redevelopment Agency Tax | ||||
| Allocation Revenue (Los Medanos Community | ||||
| Development Project) | 0.000% | 8/1/24 (2) | 1,000 | 826 |
| Pomona CA Unified School District GO | 5.600% | 8/1/16 (ETM) | 1,000 | 1,008 |
| Pomona CA Unified School District GO | 7.500% | 8/1/17 (ETM) | 2,540 | 2,744 |
| Poway CA Unified School District GO | 5.000% | 9/1/25 | 1,830 | 2,124 |
152
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Poway CA Unified School District GO | 5.000% | 8/1/27 | 5,575 | 6,482 |
| Poway CA Unified School District GO | 5.000% | 9/1/27 | 2,045 | 2,347 |
| Poway CA Unified School District GO | 5.000% | 9/1/31 | 1,370 | 1,551 |
| Poway CA Unified School District GO | 0.000% | 8/1/33 | 5,010 | 2,940 |
| Poway CA Unified School District GO | 5.000% | 9/1/33 | 990 | 1,113 |
| Poway CA Unified School District GO | 0.000% | 8/1/34 | 8,130 | 4,583 |
| Poway CA Unified School District GO | 5.000% | 9/1/36 | 690 | 768 |
| Poway CA Unified School District GO | 0.000% | 8/1/46 | 10,000 | 3,416 |
| Poway CA Unified School District GO | 0.000% | 8/1/51 | 10,000 | 2,668 |
| Poway CA Unified School District Public | ||||
| Financing Authority Community Facilities | ||||
| District No. 11 Zones 2 & 3 Special Tax | ||||
| Revenue | 5.000% | 9/15/38 | 1,215 | 1,377 |
| Poway CA Unified School District Public | ||||
| Financing Authority Community Facilities | ||||
| District No. 11 Zones 2 & 3 Special Tax | ||||
| Revenue | 5.000% | 9/15/43 | 2,470 | 2,790 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/24 | 785 | 941 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/15/27 | 1,035 | 1,216 |
| Poway CA Unified School District Public | ||||
| Financing Authority Special Tax Revenue | 5.000% | 9/1/33 (15) | 1,765 | 2,076 |
| Rancho Cucamonga CA Redevelopment Agency | ||||
| Successor Agency Tax Allocation Revenue | ||||
| (Rancho Redevelopment Project) | 5.000% | 9/1/29 (4) | 1,800 | 2,171 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/29 | 1,000 | 1,211 |
| Redding CA Joint Powers Financing Authority | ||||
| Electric System Revenue | 5.000% | 6/1/31 | 600 | 719 |
| Redwood City CA Redevelopment Agency | ||||
| Redevelopment Project Area No. 2 Tax | ||||
| Allocation Revenue | 0.000% | 7/15/26 (2) | 3,445 | 2,501 |
| Rio Hondo CA Community College District GO | 5.000% | 8/1/30 | 6,655 | 7,456 |
| Rio Hondo CA Community College District GO | 0.000% | 8/1/36 | 16,650 | 8,520 |
| 3 Riverside CA Electric Revenue TOB VRDO | 0.430% | 6/7/16 | 2,800 | 2,800 |
| Riverside CA Unified School District Community | ||||
| Facilities District No. 7 (Victoria Grove) Special | ||||
| Tax Revenue | 5.000% | 9/1/31 (2) | 4,000 | 4,039 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/21 | 1,280 | 1,488 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/22 | 1,335 | 1,576 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/24 | 1,440 | 1,707 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/28 | 1,795 | 2,083 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/29 | 1,880 | 2,177 |
| Riverside CA Unified School District Financing | ||||
| Authority Revenue | 5.000% | 9/1/32 | 1,375 | 1,577 |
| Riverside County CA Public Financing Authority | ||||
| Lease Revenue | 5.000% | 11/1/33 | 5,000 | 5,996 |
153
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Riverside County CA Public Financing | ||||
| Authority Lease Revenue | 5.250% | 11/1/40 | 5,000 | 6,063 |
| Riverside County CA Public Financing | ||||
| Authority Lease Revenue | 5.250% | 11/1/45 | 8,000 | 9,679 |
| Riverside County CA Redevelopment | ||||
| Successor Agency Tax Allocation Revenue | 4.000% | 10/1/37 (4) | 1,500 | 1,623 |
| Riverside County CA Transportation | ||||
| Commission Toll Revenue | 0.000% | 6/1/41 | 6,710 | 2,392 |
| Riverside County CA Transportation | ||||
| Commission Toll Revenue | 0.000% | 6/1/42 | 2,975 | 1,005 |
| Riverside County CA Transportation | ||||
| Commission Toll Revenue | 0.000% | 6/1/43 | 7,500 | 2,367 |
| Riverside County CA Transportation | ||||
| Commission Toll Revenue | 5.750% | 6/1/48 | 2,000 | 2,345 |
| Roseville CA Financing Authority Electric | ||||
| System Revenue | 5.000% | 2/1/37 | 4,500 | 5,035 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/18 | 620 | 655 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/22 | 1,610 | 1,846 |
| Roseville CA Natural Gas Financing Authority | ||||
| Gas Revenue | 5.000% | 2/15/28 | 2,450 | 2,963 |
| Roseville CA Special Tax Revenue | 5.000% | 9/1/37 | 1,250 | 1,426 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/39 (15) | 1,900 | 2,230 |
| Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue (Natomas Basin | ||||
| Local Assessment) | 5.000% | 10/1/44 (15) | 2,000 | 2,335 |
| Sacramento CA Financing Authority Lease | ||||
| Revenue | 5.400% | 11/1/20 (2) | 5,800 | 6,358 |
| Sacramento CA Municipal Utility District | ||||
| Financing Authority Revenue | 5.000% | 7/1/26 | 5,250 | 6,695 |
| Sacramento CA Municipal Utility District | ||||
| Financing Authority Revenue | 5.000% | 7/1/27 | 5,000 | 6,328 |
| Sacramento CA Municipal Utility District | ||||
| Revenue | 5.000% | 8/15/28 | 2,000 | 2,458 |
| Sacramento CA Municipal Utility District | ||||
| Revenue | 5.000% | 8/15/31 | 1,175 | 1,409 |
| Sacramento CA Municipal Utility District | ||||
| Revenue | 5.000% | 8/15/32 | 1,195 | 1,433 |
| Sacramento CA Municipal Utility District | ||||
| Revenue | 5.000% | 8/15/33 | 1,450 | 1,739 |
| Sacramento CA Regional Transit District | ||||
| Farebox Revenue | 5.000% | 3/1/36 | 3,000 | 3,404 |
| Sacramento CA Regional Transit District | ||||
| Farebox Revenue | 5.000% | 3/1/42 | 5,000 | 5,630 |
| Sacramento CA Unified School District GO | 5.000% | 8/1/25 (4) | 775 | 978 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 6/1/16 (Prere.) | 5,000 | 5,000 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 6/1/16 (Prere.) | 5,650 | 5,650 |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 8/1/32 | 1,000 | 1,231 |
154
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Sacramento County CA Sanitation Districts | ||||
| Financing Authority Revenue | 5.000% | 12/1/35 | 4,920 | 5,986 |
| San Bernardino CA City Unified School | ||||
| District GO | 5.000% | 8/1/27 (4) | 1,060 | 1,272 |
| San Bernardino CA City Unified School | ||||
| District GO | 0.000% | 8/1/35 (4) | 5,900 | 3,025 |
| San Bernardino CA City Unified School | ||||
| District GO | 0.000% | 8/1/36 (4) | 5,000 | 2,418 |
| San Bernardino CA Community College | ||||
| District GO | 0.000% | 8/1/44 | 15,000 | 5,152 |
| San Bernardino CA Community College | ||||
| District GO | 5.000% | 8/1/45 | 3,500 | 4,187 |
| San Bernardino CA Community College | ||||
| District GO | 0.000% | 8/1/48 | 17,770 | 5,168 |
| San Bernardino County CA Medical Center COP | 6.500% | 8/1/17 (14) | 5,980 | 6,165 |
| San Bernardino County CA Transportation | ||||
| Authority Revenue | 5.000% | 3/1/32 | 4,035 | 4,754 |
| San Diego CA Community College District GO | 5.250% | 8/1/33 | 2,500 | 2,838 |
| San Diego CA Community College District GO | 0.000% | 8/1/36 | 8,000 | 4,151 |
| San Diego CA Community College District GO | 5.000% | 8/1/36 | 2,500 | 2,911 |
| San Diego CA Community College District GO | 0.000% | 8/1/38 | 3,510 | 1,699 |
| San Diego CA Community College District GO | 5.000% | 8/1/41 | 3,000 | 3,493 |
| San Diego CA Public Facilities Financing | ||||
| Authority Sewer Revenue | 5.250% | 5/15/19 (Prere.) | 7,000 | 7,893 |
| San Diego CA Public Facilities Financing | ||||
| Authority Sewer Revenue | 5.250% | 5/15/19 (Prere.) | 6,000 | 6,766 |
| 4 San Diego CA Public Facilities Financing | ||||
| Authority Water Revenue | 5.000% | 8/1/28 | 5,000 | 6,335 |
| 4 San Diego CA Public Facilities Financing | ||||
| Authority Water Revenue | 5.000% | 8/1/34 | 4,000 | 4,944 |
| 4 San Diego CA Public Facilities Financing | ||||
| Authority Water Revenue | 5.000% | 8/1/35 | 5,000 | 6,150 |
| San Diego CA Public Facilities Financing | ||||
| Authority Water Revenue | 5.750% | 8/1/35 | 2,500 | 2,882 |
| 4 San Diego CA Public Facilities Financing | ||||
| Authority Water Revenue | 5.000% | 8/1/36 | 5,000 | 6,120 |
| San Diego CA Public Facilities Financing | ||||
| Authority Water Revenue | 5.250% | 8/1/38 | 1,500 | 1,631 |
| San Diego CA Public Facilities Financing | ||||
| Authority Water Revenue | 5.500% | 8/1/39 | 5,000 | 5,697 |
| San Diego CA Unified School District GO | 5.500% | 7/1/24 (14) | 5,000 | 6,573 |
| San Diego CA Unified School District GO | 5.000% | 7/1/27 | 5,000 | 6,347 |
| San Diego CA Unified School District GO | 5.000% | 7/1/28 | 7,000 | 8,819 |
| San Diego CA Unified School District GO | 0.000% | 7/1/29 | 8,150 | 5,560 |
| San Diego CA Unified School District GO | 0.000% | 7/1/30 | 1,500 | 981 |
| San Diego CA Unified School District GO | 0.000% | 7/1/31 | 1,500 | 938 |
| San Diego CA Unified School District GO | 0.000% | 7/1/32 | 1,085 | 653 |
| San Diego CA Unified School District GO | 4.000% | 7/1/34 | 1,210 | 1,365 |
| San Diego CA Unified School District GO | 5.000% | 7/1/35 | 5,000 | 6,001 |
| San Diego CA Unified School District GO | 0.000% | 7/1/38 | 4,890 | 2,268 |
| San Diego CA Unified School District GO | 4.000% | 7/1/45 | 8,000 | 8,792 |
| San Diego CA Unified School District GO | 0.000% | 7/1/46 | 10,000 | 3,463 |
| San Diego County CA COP | 5.000% | 10/15/28 | 1,445 | 1,799 |
155
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Diego County CA Regional Airport | ||||
| Authority Revenue | 5.000% | 7/1/26 | 4,000 | 4,579 |
| San Diego County CA Regional Airport | ||||
| Authority Revenue | 5.000% | 7/1/28 | 3,200 | 3,658 |
| San Diego County CA Regional Airport | ||||
| Authority Revenue | 5.000% | 7/1/34 | 2,715 | 3,076 |
| San Diego County CA Regional Airport | ||||
| Authority Revenue | 5.000% | 4/1/37 | 1,500 | 1,760 |
| San Diego County CA Regional Airport | ||||
| Authority Revenue | 5.000% | 4/1/38 | 2,000 | 2,347 |
| San Diego County CA Regional Airport | ||||
| Authority Revenue | 5.000% | 7/1/40 | 3,000 | 3,399 |
| San Diego County CA Regional Airport | ||||
| Authority Revenue | 5.000% | 7/1/43 | 3,540 | 4,064 |
| San Diego County CA Regional Transportation | ||||
| Commission Sales Tax Revenue VRDO | 0.370% | 6/7/16 | 16,300 | 16,300 |
| San Diego County CA Water Authority | ||||
| Revenue COP | 5.000% | 5/1/18 (Prere.) | 7,275 | 7,872 |
| 3 San Diego County CA Water Authority | ||||
| Revenue COP TOB VRDO | 0.430% | 6/7/16 | 2,510 | 2,510 |
| San Francisco CA Bay Area Rapid Transit | ||||
| District GO | 5.000% | 8/1/17 (Prere.) | 15,000 | 15,755 |
| San Francisco CA Bay Area Rapid Transit | ||||
| District GO | 5.000% | 8/1/31 | 7,000 | 8,731 |
| San Francisco CA Bay Area Rapid Transit | ||||
| District Sales Tax Revenue | 5.000% | 7/1/30 | 2,120 | 2,519 |
| San Francisco CA Bay Area Rapid Transit | ||||
| District Sales Tax Revenue | 5.000% | 7/1/30 | 1,550 | 1,943 |
| San Francisco CA City & County COP | 4.000% | 9/1/33 | 5,855 | 6,434 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/25 | 5,220 | 6,180 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/29 | 2,065 | 2,453 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/29 | 2,250 | 2,838 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/30 | 980 | 1,228 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/32 | 1,000 | 1,243 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/43 | 8,000 | 9,290 |
| San Francisco CA City & County International | ||||
| Airport Revenue | 5.000% | 5/1/44 | 6,000 | 6,992 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/27 | 3,190 | 4,047 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/34 | 2,675 | 3,299 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/35 | 2,815 | 3,466 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Wastewater Revenue | 5.000% | 10/1/36 | 2,960 | 3,631 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 10/1/29 | 12,680 | 15,317 |
| 156 | ||||
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/29 | 5,000 | 5,974 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/31 | 1,100 | 1,303 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/31 | 1,205 | 1,427 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/32 | 1,305 | 1,614 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/32 | 4,000 | 4,906 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/33 | 4,000 | 4,770 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/33 | 1,370 | 1,688 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/34 | 5,000 | 5,941 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/34 | 1,275 | 1,500 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/35 | 2,605 | 2,941 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/35 | 2,810 | 3,328 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/36 | 4,000 | 4,859 |
| San Francisco CA City & County Public Utilities | ||||
| Commission Water Revenue | 5.000% | 11/1/43 | 10,000 | 11,770 |
| San Francisco CA City & County | ||||
| Redevelopment Financing Authority Tax | ||||
| Allocation Revenue (Mission Bay North) | 6.500% | 8/1/19 (Prere.) | 2,000 | 2,351 |
| San Francisco CA City & County | ||||
| Redevelopment Financing Authority Tax | ||||
| Allocation Revenue (Mission Bay North) | 6.750% | 2/1/21 (Prere.) | 1,000 | 1,254 |
| San Francisco CA City & County | ||||
| Redevelopment Financing Authority Tax | ||||
| Allocation Revenue (Mission Bays | ||||
| Redevelopment Project) | 5.000% | 8/1/28 | 975 | 1,213 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/30 | 1,200 | 1,474 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/37 | 850 | 1,027 |
| San Francisco CA City & County Redevelopment | ||||
| Financing Authority Tax Allocation Revenue | ||||
| (Mission Bays Redevelopment Project) | 5.000% | 8/1/43 | 3,500 | 4,036 |
| San Francisco CA City & County Unified School | ||||
| District GO | 5.250% | 6/15/24 | 4,000 | 4,516 |
| San Francisco CA City & County Unified School | ||||
| District GO | 5.000% | 6/15/32 | 8,365 | 9,553 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 0.000% | 1/15/24 (14) | 6,000 | 4,869 |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 0.000% | 1/15/25 (14) | 6,000 | 4,657 |
157
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| San Joaquin Hills CA Transportation Corridor | ||||
| Agency Toll Road Revenue | 5.000% | 1/15/34 | 5,000 | 5,664 |
| San Jose CA Airport Revenue | 5.000% | 3/1/33 (2) | 4,000 | 4,116 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/20 (2) | 3,415 | 3,569 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/21 (2) | 2,300 | 2,404 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.000% | 8/1/22 (2) | 3,375 | 3,520 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.500% | 8/1/30 | 850 | 974 |
| San Jose CA Redevelopment Agency Tax | ||||
| Allocation Revenue | 5.500% | 8/1/35 | 2,750 | 3,123 |
| San Jose CA Special Hotel Tax Revenue | ||||
| (Convention Center Expansion & Renovation | ||||
| Project) | 6.500% | 5/1/42 | 5,000 | 6,047 |
| San Jose CA Unified School District Santa | ||||
| Clara County GO | 5.000% | 8/1/32 | 10,000 | 12,388 |
| San Jose-Evergreen CA Community College | ||||
| District GO | 5.000% | 9/1/40 | 3,850 | 4,637 |
| San Juan CA Unified School District GO | 0.000% | 8/1/16 (4) | 2,000 | 1,998 |
| San Juan CA Unified School District GO | 0.000% | 8/1/18 (4) | 1,785 | 1,742 |
| San Juan CA Unified School District GO | 0.000% | 8/1/20 (4) | 4,930 | 4,611 |
| San Juan CA Unified School District GO | 0.000% | 8/1/23 (4) | 4,540 | 3,925 |
| San Luis Obispo County CA Community College | ||||
| District GO | 5.000% | 8/1/28 | 890 | 1,119 |
| San Luis Obispo County CA Community College | ||||
| District GO | 5.000% | 8/1/32 | 1,395 | 1,720 |
| San Marcos CA Unified School District GO | 0.000% | 8/1/32 | 2,600 | 1,569 |
| San Marcos CA Unified School District GO | 5.000% | 8/1/34 | 5,620 | 6,528 |
| San Marcos CA Unified School District GO | 5.000% | 8/1/38 | 2,835 | 3,286 |
| San Mateo CA Union High School District GO | 0.000% | 9/1/41 | 5,000 | 4,331 |
| San Mateo County CA Community College | ||||
| District GO | 5.000% | 9/1/16 (Prere.) | 5,000 | 5,056 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Capital Project | ||||
| Program) | 5.000% | 7/1/21 (14) | 3,500 | 4,103 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 5.000% | 7/15/31 | 2,290 | 2,857 |
| San Mateo County CA Joint Powers Financing | ||||
| Authority Lease Revenue (Youth Services | ||||
| Campus) | 4.000% | 7/15/35 | 2,110 | 2,369 |
| San Mateo-Foster City CA School District GO | 4.000% | 8/1/44 | 3,250 | 3,580 |
| San Mateo-Foster City CA School District GO | 4.000% | 8/1/45 | 5,000 | 5,512 |
| San Pablo CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 6/15/29 (4) | 1,780 | 2,140 |
| San Ramon Valley CA Unified School District GO | 4.000% | 8/1/34 | 3,445 | 3,848 |
| Santa Ana CA Financing Authority Police | ||||
| Administration & Holding Facility Lease | ||||
| Revenue | 6.250% | 7/1/16 (ETM) | 2,673 | 2,685 |
| Santa Ana CA Financing Authority Police | ||||
| Administration & Holding Facility Lease | ||||
| Revenue | 6.250% | 7/1/16 (14) | 3 | 3 |
158
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| Santa Ana CA Financing Authority Police | ||||
| Administration & Holding Facility Lease | ||||
| Revenue | 6.250% | 7/1/17 (ETM) | 1,000 | 1,060 |
| Santa Ana CA Financing Authority Police | ||||
| Administration & Holding Facility Lease | ||||
| Revenue | 6.250% | 7/1/17 (14) | 1,000 | 1,059 |
| Santa Ana CA Unified School District GO | 0.000% | 8/1/32 (14) | 3,680 | 2,103 |
| Santa Barbara CA Secondary/High School | ||||
| District GO | 0.000% | 8/1/40 | 2,050 | 855 |
| Santa Clara CA Electric Revenue | 6.000% | 7/1/31 | 3,000 | 3,649 |
| Santa Clara CA Unified School District GO | 5.000% | 7/1/34 | 4,000 | 4,585 |
| 4 Santa Clara County CA Financing Authority | ||||
| Revenue | 5.000% | 5/15/27 | 5,000 | 6,254 |
| Santa Clara County CA GO | 5.000% | 8/1/28 | 9,000 | 10,920 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/28 | 625 | 803 |
| Santa Clara Valley CA Joint Powers Authority | ||||
| Revenue | 5.000% | 8/1/29 | 525 | 671 |
| Santa Monica CA Community College District GO | 4.000% | 8/1/31 | 3,000 | 3,378 |
| Santa Rosa CA Wastewater Revenue | 5.000% | 9/1/28 | 4,845 | 5,774 |
| Santa Rosa CA Wastewater Revenue | 5.000% | 9/1/33 | 1,000 | 1,195 |
| Silicon Valley CA Clean Water Wastewater | ||||
| Revenue | 5.000% | 2/1/39 | 3,090 | 3,659 |
| Silicon Valley CA Clean Water Wastewater | ||||
| Revenue | 5.000% | 8/1/45 | 1,500 | 1,814 |
| Solana Beach CA School District Special Tax | ||||
| Revenue | 5.000% | 9/1/32 | 1,000 | 1,147 |
| Solana Beach CA School District Special Tax | ||||
| Revenue | 5.000% | 9/1/35 | 2,500 | 2,838 |
| Sonoma County CA Junior College District GO | 5.000% | 8/1/27 | 2,000 | 2,471 |
| Sonoma-Marin Area Rail Transportation District | ||||
| California Sales & Use Tax Revenue | 5.000% | 3/1/28 | 3,500 | 4,188 |
| South San Francisco CA Redevelopment Agency | ||||
| Tax Allocation Revenue | 5.000% | 9/1/35 (14) | 16,110 | 16,285 |
| Southern California Public Power Authority | ||||
| Revenue | 5.000% | 7/1/26 | 3,500 | 4,417 |
| Southern California Public Power Authority | ||||
| Revenue | 5.000% | 7/1/29 | 5,000 | 5,752 |
| Southern California Public Power Authority | ||||
| Revenue (Milford Wind Corridor Phase I Project) | 5.000% | 7/1/30 | 5,000 | 5,649 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.000% | 11/1/17 | 1,865 | 1,964 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.000% | 11/1/28 | 3,580 | 4,359 |
| Southern California Public Power Authority | ||||
| Revenue (Natural Gas Project) | 5.000% | 11/1/33 | 3,530 | 4,373 |
| Southern California Public Power Authority | ||||
| Revenue (Transmission Project) | 5.750% | 7/1/21 (14) | 220 | 221 |
| Southern California Water Replenishment | ||||
| District Financing Authority Revenue | 5.000% | 8/1/28 | 1,000 | 1,259 |
| Southern California Water Replenishment | ||||
| District Financing Authority Revenue | 5.000% | 8/1/41 | 7,000 | 8,489 |
| Southwestern California Community College | ||||
| District GO | 5.000% | 8/1/44 | 7,045 | 8,435 |
159
| California Long-Term Tax-Exempt Fund | |||||
| Face | Market | ||||
| Maturity | Amount | Value• | |||
| Coupon | Date | ($000) | ($000) | ||
| State Center California Community College | |||||
| District GO | 5.000% | 8/1/28 | 5,275 | 6,645 | |
| Stockton CA Public Financing Authority | |||||
| Wastewater Revenue | 5.000% | 9/1/29 (15) | 1,000 | 1,206 | |
| Stockton CA Public Financing Authority Water | |||||
| Revenue (Delta Water Supply Project) | 6.250% | 10/1/38 | 2,150 | 2,694 | |
| Stockton CA Unified School District GO | 5.000% | 8/1/38 (4) | 2,500 | 2,931 | |
| Suisun City CA Redevelopment Agency | |||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/31 (15) | 1,225 | 1,468 | |
| Suisun City CA Redevelopment Agency | |||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/32 (15) | 1,250 | 1,494 | |
| Suisun City CA Redevelopment Agency | |||||
| Successor Agency Tax Allocation Revenue | 5.000% | 10/1/33 (15) | 1,280 | 1,526 | |
| Sweetwater CA Unified School District GO | 5.000% | 8/1/29 (15) | 4,200 | 5,070 | |
| 3 | Sweetwater CA Unified School District GO | ||||
| TOB VRDO | 0.430% | 6/7/16 (13) | 700 | 700 | |
| Temecula Valley CA Unified School District GO | 0.000% | 8/1/35 (15) | 3,000 | 2,875 | |
| Temecula Valley CA Unified School District GO | 0.000% | 8/1/37 (15) | 3,785 | 3,616 | |
| Tobacco Securitization Authority Revenue | |||||
| (Southern California Tobacco Settlement) | 5.000% | 6/1/37 | 2,155 | 2,155 | |
| Torrance CA Hospital Revenue (Torrance | |||||
| Memorial Medical Center) | 5.000% | 9/1/40 | 3,000 | 3,303 | |
| Tulare County CA Transportation Authority | |||||
| Sales Tax Revenue | 4.000% | 2/1/34 | 1,540 | 1,669 | |
| Turlock CA Irrigation District Revenue | 5.000% | 1/1/31 | 2,000 | 2,267 | |
| Turlock CA Irrigation District Revenue | 5.000% | 1/1/35 | 3,000 | 3,363 | |
| Turlock CA Irrigation District Revenue | 5.500% | 1/1/41 | 3,445 | 3,974 | |
| Tustin CA Community Facilities District Special | |||||
| Tax Revenue | 5.000% | 9/1/37 | 1,000 | 1,156 | |
| Tustin CA Unified School District Special Tax | |||||
| Revenue | 5.000% | 9/1/31 | 3,000 | 3,553 | |
| Ukiah CA Electric Revenue | 6.250% | 6/1/18 (14) | 1,530 | 1,598 | |
| Ukiah CA Unified School District GO | 0.000% | 8/1/32 (10) | 6,425 | 3,558 | |
| Union CA Elementary School District GO | 0.000% | 9/1/16 (14) | 1,500 | 1,498 | |
| Union CA Elementary School District GO | 0.000% | 9/1/17 (14) | 2,295 | 2,271 | |
| Union CA Elementary School District GO | 0.000% | 9/1/18 (14) | 1,630 | 1,590 | |
| Union CA Elementary School District GO | 0.000% | 9/1/19 (14) | 1,750 | 1,673 | |
| Union CA Elementary School District GO | 0.000% | 9/1/20 (14) | 2,300 | 2,152 | |
| Union CA Elementary School District GO | 0.000% | 9/1/21 (14) | 2,000 | 1,834 | |
| University of California Regents Medical Center | |||||
| Pooled Revenue VRDO | 0.260% | 6/1/16 | 3,140 | 3,140 | |
| University of California Regents Medical Center | |||||
| Pooled Revenue VRDO | 0.280% | 6/1/16 | 4,700 | 4,700 | |
| University of California Revenue | 5.250% | 5/15/19 (Prere.) | 1,995 | 2,250 | |
| University of California Revenue | 5.250% | 5/15/19 (Prere.) | 1,140 | 1,285 | |
| University of California Revenue | 5.750% | 5/15/19 (Prere.) | 7,000 | 8,002 | |
| University of California Revenue | 5.000% | 5/15/27 | 4,245 | 5,324 | |
| University of California Revenue | 5.000% | 5/15/28 | 5,000 | 6,119 | |
| University of California Revenue | 5.000% | 5/15/29 | 2,000 | 2,538 | |
| University of California Revenue | 5.000% | 5/15/31 | 2,000 | 2,514 | |
| University of California Revenue | 5.000% | 5/15/32 | 1,000 | 1,252 | |
| University of California Revenue | 5.000% | 5/15/32 | 7,925 | 9,756 | |
| University of California Revenue | 5.000% | 5/15/33 | 5,000 | 6,042 | |
| University of California Revenue | 4.000% | 5/15/34 | 5,000 | 5,569 | |
| 160 | |||||
| California Long-Term Tax-Exempt Fund | ||||
| Face | Market | |||
| Maturity | Amount | Value• | ||
| Coupon | Date | ($000) | ($000) | |
| University of California Revenue | 5.000% | 5/15/34 | 5,205 | 6,045 |
| University of California Revenue | 5.000% | 5/15/35 | 3,640 | 4,227 |
| University of California Revenue | 5.250% | 5/15/37 | 3,500 | 4,301 |
| University of California Revenue | 5.000% | 5/15/38 | 10,000 | 11,949 |
| University of California Revenue | 5.250% | 5/15/39 | 3,865 | 4,340 |
| University of California Revenue | 5.000% | 5/15/40 | 50 | 52 |
| University of California Revenue | 5.000% | 5/15/40 | 5,000 | 5,988 |
| University of California Revenue | 5.000% | 5/15/41 | 2,400 | 2,928 |
| University of California Revenue | 5.000% | 5/15/46 | 7,000 | 8,506 |
| University of California Revenue PUT | 5.000% | 5/15/23 | 6,500 | 8,030 |
| 3 University of California Revenue TOB VRDO | 0.430% | 6/7/16 | 1,600 | 1,600 |
| University of California Revenue VRDO | 0.360% | 6/7/16 | 16,800 | 16,800 |
| Vallecitos CA Water District Water & | ||||
| Wastewater Enterprise Revenue | 5.000% | 7/1/33 | 1,110 | 1,365 |
| Vallecitos CA Water District Water & | ||||
| Wastewater Enterprise Revenue | 5.000% | 7/1/35 | 750 | 914 |
| Vallejo CA Sanitation & Flood Control COP | 5.000% | 7/1/19 (14) | 2,136 | 2,230 |
| Ventura County CA Community College | ||||
| District GO | 5.500% | 8/1/18 (Prere.) | 8,500 | 9,376 |
| Vista CA Redevelopment Agency Successor | ||||
| Agency Tax Allocation Revenue | 5.000% | 9/1/28 (4) | 1,970 | 2,429 |
| Vista CA Unified School District GO | 0.000% | 8/1/28 (14) | 7,425 | 5,289 |
| Walnut CA Energy Center Authority Revenue | 5.000% | 1/1/34 | 3,100 | 3,773 |
| Walnut CA Energy Center Authority Revenue | 5.000% | 1/1/35 | 2,000 | 2,238 |
| Walnut CA Energy Center Authority Revenue | 5.000% | 1/1/40 | 5,000 | 5,595 |
| Washington Township CA Health Care | ||||
| District GO | 5.500% | 8/1/40 | 5,000 | 6,122 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/32 | 3,000 | 3,088 |
| Washington Township CA Health Care District | ||||
| Revenue | 5.000% | 7/1/37 | 1,750 | 1,798 |
| West Contra Costa CA Unified School District GO | 5.250% | 8/1/35 (4) | 7,000 | 8,214 |
| West Contra Costa CA Unified School District GO | 5.000% | 8/1/40 | 3,000 | 3,552 |
| West Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue | 5.000% | 9/1/40 (4) | 2,050 | 2,399 |
| West Sacramento CA Area Flood Control Agency | ||||
| Special Assessment Revenue | 5.000% | 9/1/45 (4) | 2,715 | 3,151 |
| Whittier CA Health Facilities Revenue | ||||
| (Presbyterian Intercommunity Hospital | ||||
| Obligated Group) | 5.000% | 6/1/44 | 4,500 | 5,163 |
| Yuba City CA Unified School District GO | 0.000% | 9/1/17 (14) | 2,060 | 2,034 |
| Yuba City CA Unified School District GO | 0.000% | 9/1/19 (14) | 2,270 | 2,167 |
| Yucaipa Valley CA Water District Water | ||||
| System Revenue | 5.000% | 9/1/27 | 1,000 | 1,237 |
| 3,718,017 | ||||
| Guam (0.2%) | ||||
| Guam Government Business Privilege Tax | ||||
| Revenue | 5.000% | 11/15/39 | 4,900 | 5,662 |
| Guam Power Authority Revenue | 5.000% | 10/1/24 | 1,000 | 1,195 |
| 6,857 | ||||
| Total Tax-Exempt Municipal Bonds (Cost $3,411,730) | 3,724,874 | |||
161
| California Long-Term Tax-Exempt Fund | |
| Amount | |
| ($000) | |
| Other Assets and Liabilities (-1.4%) | |
| Other Assets | |
| Investment in Vanguard | 296 |
| Receivables for Investment Securities Sold | 2,315 |
| Receivables for Accrued Income | 35,778 |
| Receivables for Capital Shares Issued | 3,370 |
| Other Assets | 411 |
| Total Other Assets | 42,170 |
| Liabilities | |
| Payables for Investment Securities Purchased | (85,340) |
| Payables for Capital Shares Redeemed | (990) |
| Payables for Distributions | (3,300) |
| Payables to Vanguard | (3,420) |
| Other Liabilities | (119) |
| Total Liabilities | (93,169) |
| Net Assets (100%) | 3,673,875 |
| At May 31, 2016, net assets consisted of: | |
| Amount | |
| ($000) | |
| Paid-in Capital | 3,413,390 |
| Overdistributed Net Investment Income | (2) |
| Accumulated Net Realized Losses | (52,727) |
| Unrealized Appreciation (Depreciation) | |
| Investment Securities | 313,144 |
| Futures Contracts | 70 |
| Net Assets | 3,673,875 |
| Investor Shares—Net Assets | |
| Applicable to 39,313,962 outstanding $.001 par value shares of | |
| beneficial interest (unlimited authorization) | 488,827 |
| Net Asset Value Per Share—Investor Shares | $12.43 |
| Admiral Shares—Net Assets | |
| Applicable to 256,158,505 outstanding $.001 par value shares of | |
| beneficial interest (unlimited authorization) | 3,185,048 |
| Net Asset Value Per Share—Admiral Shares | $12.43 |
• See Note A in Notes to Financial Statements.
1 Adjustable-rate security.
2 Securities with a value of $1,219,000 have been segregated as initial margin for open futures contracts.
3 Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2016, the aggregate value of these securities was $62,950,000, representing 1.7% of net assets.
4 Security purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of May 31, 2016.
A key to abbreviations and other references follows the Statement of Net Assets.
See accompanying Notes, which are an integral part of the Financial Statements.
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California Long-Term Tax-Exempt Fund
Key to Abbreviations
ARS—Auction Rate Security.
BAN—Bond Anticipation Note.
COP—Certificate of Participation.
CP—Commercial Paper.
FR—Floating Rate.
GAN—Grant Anticipation Note.
GO—General Obligation Bond.
PILOT—Payments in Lieu of Taxes.
PUT—Put Option Obligation.
RAN—Revenue Anticipation Note.
TAN—Tax Anticipation Note.
TOB—Tender Option Bond.
TRAN—Tax Revenue Anticipation Note.
VRDO—Variable Rate Demand Obligation.
VRDP—Variable Rate Demand Preferred.
(ETM)—Escrowed to Maturity.
(Prere.)—Prerefunded.
Scheduled principal and interest payments are guaranteed by:
(1) MBIA (Municipal Bond Investors Assurance).
(2) AMBAC (Ambac Assurance Corporation).
(3) FGIC (Financial Guaranty Insurance Company).
(4) AGM (Assured Guaranty Municipal Corporation).
(5) BIGI (Bond Investors Guaranty Insurance).
(6) Connie Lee Inc.
(7) FHA (Federal Housing Authority).
(8) CapMAC (Capital Markets Assurance Corporation).
(9) American Capital Access Financial Guaranty Corporation.
(10) XL Capital Assurance Inc.
(11) CIFG (CDC IXIS Financial Guaranty).
(12) AGC (Assured Guaranty Corporation).
(13) BHAC (Berkshire Hathaway Assurance Corporation).
(14) NPFG (National Public Finance Guarantee Corporation).
(15) BAM (Build America Mutual Assurance Company).
(16) MAC (Municipal Assurance Corporation).
(17) RAA (Radian Asset Assurance Inc.).
The insurance does not guarantee the market value of the municipal bonds.
LOC—Scheduled principal and interest payments are guaranteed by bank letter of credit.
163
California Long-Term Tax-Exempt Fund
Statement of Operations
| Six Months Ended | |
| May 31, 2016 | |
| ($000) | |
| Investment Income | |
| Income | |
| Interest | 62,401 |
| Total Income | 62,401 |
| Expenses | |
| The Vanguard Group—Note B | |
| Investment Advisory Services | 190 |
| Management and Administrative—Investor Shares | 370 |
| Management and Administrative—Admiral Shares | 1,504 |
| Marketing and Distribution—Investor Shares | 53 |
| Marketing and Distribution—Admiral Shares | 122 |
| Custodian Fees | 19 |
| Shareholders’ Reports—Investor Shares | 8 |
| Shareholders’ Reports—Admiral Shares | 9 |
| Trustees’ Fees and Expenses | 1 |
| Total Expenses | 2,276 |
| Net Investment Income | 60,125 |
| Realized Net Gain (Loss) | |
| Investment Securities Sold | 5,768 |
| Futures Contracts | 1 |
| Realized Net Gain (Loss) | 5,769 |
| Change in Unrealized Appreciation (Depreciation) | |
| Investment Securities | 82,341 |
| Futures Contracts | 77 |
| Change in Unrealized Appreciation (Depreciation) | 82,418 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 148,312 |
See accompanying Notes, which are an integral part of the Financial Statements.
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California Long-Term Tax-Exempt Fund
Statement of Changes in Net Assets
| Six Months Ended | Year Ended | |
| May 31, | November 30, | |
| 2016 | 2015 | |
| ($000) | ($000) | |
| Increase (Decrease) in Net Assets | ||
| Operations | ||
| Net Investment Income | 60,125 | 115,313 |
| Realized Net Gain (Loss) | 5,769 | 23,312 |
| Change in Unrealized Appreciation (Depreciation) | 82,418 | (9,044) |
| Net Increase (Decrease) in Net Assets Resulting from Operations | 148,312 | 129,581 |
| Distributions | ||
| Net Investment Income | ||
| Investor Shares | (7,738) | (14,513) |
| Admiral Shares | (52,400) | (100,743) |
| Realized Capital Gain | ||
| Investor Shares | — | — |
| Admiral Shares | — | — |
| Total Distributions | (60,138) | (115,256) |
| Capital Share Transactions | ||
| Investor Shares | 52,550 | 26,333 |
| Admiral Shares | 199,649 | 221,898 |
| Net Increase (Decrease) from Capital Share Transactions | 252,199 | 248,231 |
| Total Increase (Decrease) | 340,373 | 262,556 |
| Net Assets | ||
| Beginning of Period | 3,333,502 | 3,070,946 |
| End of Period1 | 3,673,875 | 3,333,502 |
| 1 Net Assets—End of Period includes undistributed (overdistributed) net investment income of ($2,000) and $11,000. | ||
See accompanying Notes, which are an integral part of the Financial Statements.
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California Long-Term Tax-Exempt Fund
Financial Highlights
| Investor Shares | ||||||
| Six Months | ||||||
| Ended | ||||||
| For a Share Outstanding | May 31, | Year Ended November 30, | ||||
| Throughout Each Period | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Net Asset Value, Beginning of Period | $12.12 | $12.07 | $11.31 | $12.24 | $11.24 | $11.01 |
| Investment Operations | ||||||
| Net Investment Income | . 208 | .428 | .442 | .450 | .459 | .473 |
| Net Realized and Unrealized Gain (Loss) | ||||||
| on Investments | .310 | .050 | .760 | (.930) | 1.000 | .230 |
| Total from Investment Operations | .518 | .478 | 1.202 | (.480) | 1.459 | .703 |
| Distributions | ||||||
| Dividends from Net Investment Income | (. 208) | (. 428) | (. 442) | (. 450) | (. 459) | (. 473) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (. 208) | (. 428) | (. 442) | (. 450) | (. 459) | (. 473) |
| Net Asset Value, End of Period | $12.43 | $12.12 | $12.07 | $11.31 | $12.24 | $11.24 |
| Total Return1 | 4.30% | 4.03% | 10.79% | -3.96% | 13.20% | 6.60% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $489 | $425 | $397 | $390 | $487 | $441 |
| Ratio of Total Expenses to | ||||||
| Average Net Assets | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% | 0.20% |
| Ratio of Net Investment Income to | ||||||
| Average Net Assets | 3.38% | 3.55% | 3.75% | 3.86% | 3.89% | 4.33% |
| Portfolio Turnover Rate | 13% | 17% | 14% | 14% | 16% | 14% |
| The expense ratio, net investment income ratio, and turnover rate for the current period have been annualized. | ||||||
| 1 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. | ||||||
See accompanying Notes, which are an integral part of the Financial Statements.
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California Long-Term Tax-Exempt Fund
Financial Highlights
| Admiral Shares | ||||||
| Six Months | ||||||
| Ended | ||||||
| For a Share Outstanding | May 31, | Year Ended November 30, | ||||
| Throughout Each Period | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
| Net Asset Value, Beginning of Period | $12.12 | $12.07 | $11.31 | $12.24 | $11.24 | $11.01 |
| Investment Operations | ||||||
| Net Investment Income | . 213 | .438 | .451 | .459 | .468 | .482 |
| Net Realized and Unrealized Gain (Loss) | ||||||
| on Investments | .310 | .050 | .760 | (.930) | 1.000 | .230 |
| Total from Investment Operations | .523 | .488 | 1.211 | (.471) | 1.468 | .712 |
| Distributions | ||||||
| Dividends from Net Investment Income | (. 213) | (. 438) | (. 451) | (. 459) | (. 468) | (. 482) |
| Distributions from Realized Capital Gains | — | — | — | — | — | — |
| Total Distributions | (. 213) | (. 438) | (. 451) | (. 459) | (. 468) | (. 482) |
| Net Asset Value, End of Period | $12.43 | $12.12 | $12.07 | $11.31 | $12.24 | $11.24 |
| Total Return1 | 4.34% | 4.12% | 10.87% | -3.88% | 13.29% | 6.68% |
| Ratios/Supplemental Data | ||||||
| Net Assets, End of Period (Millions) | $3,185 | $2,909 | $2,674 | $2,314 | $2,589 | $2,234 |
| Ratio of Total Expenses to | ||||||
| Average Net Assets | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% | 0.12% |
| Ratio of Net Investment Income to | ||||||
| Average Net Assets | 3.46% | 3.63% | 3.83% | 3.94% | 3.97% | 4.41% |
| Portfolio Turnover Rate | 13% | 17% | 14% | 14% | 16% | 14% |
| The expense ratio, net investment income ratio, and turnover rate for the current period have been annualized. | ||||||
| 1 Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. | ||||||
See accompanying Notes, which are an integral part of the Financial Statements.
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California Long-Term Tax-Exempt Fund
Notes to Financial Statements
Vanguard California Long-Term Tax-Exempt Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund invests in debt instruments of municipal issuers whose ability to meet their obligations may be affected by economic and political developments in the state. The fund offers two classes of shares: Investor Shares and Admiral Shares. Investor Shares are available to any investor who meets the fund’s minimum purchase requirements. Admiral Shares are designed for investors who meet certain administrative, service, and account-size criteria.
A. The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.
1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and temporary cash investments acquired over 60 days to maturity are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Other temporary cash investments are valued at amortized cost, which approximates market value. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund’s pricing time but after the close of the securities’ primary markets, are valued by methods deemed by the board of trustees to represent fair value.
2. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund’s performance and requires daily settlement of variation margin representing changes in the market value of each contract.
Futures contracts are valued at their quoted daily settlement prices. The aggregate settlement values of the contracts are not recorded in the Statement of Net Assets. Fluctuations in the value of the contracts are recorded in the Statement of Net Assets as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized futures gains (losses).
During the six months ended May 31, 2016, the fund’s average investments in long and short futures contracts each represented less than 1% of net assets, based on the average of aggregate settlement values at each quarter-end during the period.
3. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute all of its income. Management has analyzed the fund’s tax positions taken for all open federal income tax years (November 30, 2012–2015), and for the period ended May 31, 2016, and has concluded that no provision for federal income tax is required in the fund’s financial statements.
4. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month. Annual distributions from realized capital gains, if any, are recorded on the ex-dividend date.
168
California Long-Term Tax-Exempt Fund
5. Credit Facility: The fund and certain other funds managed by The Vanguard Group (“Vanguard”) participate in a $3.1 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement that may be renewed annually; each fund is individually liable for its borrowings, if any, under the credit facility. Borrowings may be utilized for temporary and emergency purposes, and are subject to the fund’s regulatory and contractual borrowing restrictions. The participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn amount of the facility; these fees are allocated to the funds based on a method approved by the fund’s board of trustees and included in Management and Administrative expenses on the fund’s Statement of Operations. Any borrowings under this facility bear interest at a rate based upon the higher of the one-month London Interbank Offered Rate, federal funds effective rate, or overnight bank funding rate plus an agreed-upon spread.
The fund had no borrowings outstanding at May 31, 2016, or at any time during the period then ended.
6. Other: Interest income is accrued daily. Premiums and discounts on debt securities purchased are amortized and accreted, respectively, to interest income over the lives of the respective securities. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.
Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses) and shareholder reporting. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.
B. In accordance with the terms of a Funds’ Service Agreement (the “FSA”) between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing, and distribution services at Vanguard’s cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees. Vanguard does not require reimbursement in the current period for certain costs of operations (such as deferred compensation/benefits and risk/insurance costs); the fund’s liability for these costs of operations is included in Payables to Vanguard on the Statement of Net Assets.
Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At May 31, 2016, the fund had contributed to Vanguard capital in the amount of $296,000, representing 0.01% of the fund’s net assets and 0.12% of Vanguard’s capitalization. The fund’s trustees and officers are also directors and employees, respectively, of Vanguard.
C. Various inputs may be used to determine the value of the fund’s investments. These inputs are summarized in three broad levels for financial statement purposes. The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
Level 1—Quoted prices in active markets for identical securities.
Level 2—Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3—Significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).
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California Long-Term Tax-Exempt Fund
The following table summarizes the market value of the fund’s investments as of May 31, 2016, based on the inputs used to value them:
| Level 1 | Level 2 | Level 3 | |
| Investments | ($000) | ($000) | ($000) |
| Tax-Exempt Municipal Bonds | — | 3,724,874 | — |
| Futures Contracts—Assets1 | 36 | — | — |
| Futures Contracts—Liabilities1 | (94) | — | — |
| Total | (58) | 3,724,874 | — |
| 1 Represents variation margin on the last day of the reporting period. |
D. At May 31, 2016, the aggregate settlement value of open futures contracts and the related unrealized appreciation (depreciation) were:
| ($000) | ||||
| Aggregate | ||||
| Number of | Settlement | Unrealized | ||
| Long (Short) | Value | Appreciation | ||
| Futures Contracts | Expiration | Contracts | Long (Short) | (Depreciation) |
| 5-Year U.S. Treasury Note | September 2016 | 166 | 19,939 | 33 |
| 2-Year U.S. Treasury Note | September 2016 | 69 | 15,036 | 7 |
| 30-Year U.S. Treasury Bond | September 2016 | 46 | 7,512 | 30 |
| 70 |
Unrealized appreciation (depreciation) on open futures contracts is required to be treated as realized gain (loss) for tax purposes.
E. Capital gain distributions are determined on a tax basis and may differ from realized capital gains for financial reporting purposes. Differences may be permanent or temporary. Permanent differences are reclassified among capital accounts in the financial statements to reflect their tax character. Temporary differences arise when gains or losses are recognized in different periods for financial statement and tax purposes. These differences will reverse at some time in the future.
The fund’s tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at November 30, 2015, the fund available capital losses totaling $55,398,000 to offset future net capital gains of $25,890,000 through November 30, 2017, $12,571,000 through November 30, 2018, and $16,937,000 through November 30, 2019. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending November 30, 2016; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.
At May 31, 2016, the cost of investment securities for tax purposes was $3,414,834,000. Net unrealized appreciation of investment securities for tax purposes was $310,040,000, consisting of unrealized gains of $310,217,000 on securities that had risen in value since their purchase and $177,000 in unrealized losses on securities that had fallen in value since their purchase.
F. During the six months ended May 31, 2016, the fund purchased $460,704,000 of investment securities and sold $213,074,000 of investment securities, other than temporary cash investments.
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California Long-Term Tax-Exempt Fund
G. Capital share transactions for each class of shares were:
| Six Months Ended | Year Ended | |||
| May 31, 2016 | November 30, 2015 | |||
| Amount | Shares | Amount | Shares | |
| ($000) | (000) | ($000) | (000) | |
| Investor Shares | ||||
| Issued | 91,931 | 7,451 | 104,834 | 8,697 |
| Issued in Lieu of Cash Distributions | 6,654 | 539 | 12,399 | 1,027 |
| Redeemed | (46,035) | (3,731) | (90,900) | (7,546) |
| Net Increase (Decrease)—Investor Shares | 52,550 | 4,259 | 26,333 | 2,178 |
| Admiral Shares | ||||
| Issued | 393,814 | 31,925 | 456,285 | 37,855 |
| Issued in Lieu of Cash Distributions | 33,864 | 2,746 | 64,275 | 5,322 |
| Redeemed | (228,029) | (18,525) | (298,662) | (24,790) |
| Net Increase (Decrease)—Admiral Shares | 199,649 | 16,146 | 221,898 | 18,387 |
H. Management has determined that no material events or transactions occurred subsequent to May 31, 2016, that would require recognition or disclosure in these financial statements.
171
About Your Fund’s Expenses
As a shareholder of the fund, you incur ongoing costs, which include costs for portfolio management, administrative services, and shareholder reports (like this one), among others. Operating expenses, which are deducted from a fund’s gross income, directly reduce the investment return of the fund.
A fund’s expenses are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The following examples are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period.
The accompanying table illustrates your fund’s costs in two ways:
• Based on actual fund return. This section helps you to estimate the actual expenses that you paid over the period. The ”Ending Account Value“ shown is derived from the fund‘s actual return, and the third column shows the dollar amount that would have been paid by an investor who started with $1,000 in the fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.
To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for your fund under the heading ”Expenses Paid During Period.“
• Based on hypothetical 5% yearly return. This section is intended to help you compare your fund‘s costs with those of other mutual funds. It assumes that the fund had a yearly return of 5% before expenses, but that the expense ratio is unchanged. In this case—because the return used is not the fund’s actual return—the results do not apply to your investment. The example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to calculate expenses based on a 5% return. You can assess your fund’s costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.
Note that the expenses shown in the table are meant to highlight and help you compare ongoing costs only and do not reflect transaction costs incurred by the fund for buying and selling securities. Further, the expenses do not include any purchase, redemption, or account service fees described in the fund prospectus. If such fees were applied to your account, your costs would be higher. Your fund does not carry a “sales load.”
The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.
You can find more information about the fund’s expenses, including annual expense ratios, in the Financial Statements section of this report. For additional information on operating expenses and other shareholder costs, please refer to your fund’s current prospectus.
172
| Six Months Ended May 31, 2016 | |||
| Beginning | Ending | Expenses | |
| Account Value | Account Value | Paid During | |
| 11/30/2015 | 5/31/2016 | Period | |
| Based on Actual Fund Return | |||
| California Tax-Exempt Money Market Fund | $1,000.00 | $1,000.44 | $0.50 |
| California Intermediate-Term Tax-Exempt Fund | |||
| Investor Shares | $1,000.00 | $1,031.21 | $1.02 |
| Admiral Shares | 1,000.00 | 1,031.63 | 0.61 |
| California Long-Term Tax-Exempt Fund | |||
| Investor Shares | $1,000.00 | $1,043.03 | $1.02 |
| Admiral Shares | 1,000.00 | 1,043.44 | 0.61 |
| Based on Hypothetical 5% Yearly Return | |||
| California Tax-Exempt Money Market Fund | $1,000.00 | $1,024.50 | $0.51 |
| California Intermediate-Term Tax-Exempt Fund | |||
| Investor Shares | $1,000.00 | $1,024.00 | $1.01 |
| Admiral Shares | 1,000.00 | 1,024.40 | 0.61 |
| California Long-Term Tax-Exempt Fund | |||
| Investor Shares | $1,000.00 | $1,024.00 | $1.01 |
| Admiral Shares | 1,000.00 | 1,024.40 | 0.61 |
The calculations are based on expenses incurred in the most recent six-month period. The funds’ annualized six-month expense ratios for that period are: for the California Tax-Exempt Money Market Fund, 0.10%; for the California Intermediate-Term Tax-Exempt Fund, 0.20% for Investor Shares and 0.12% for Admiral Shares; and for the California Long-Term Tax-Exempt Fund, 0.20% for Investor Shares and 0.12% for Admiral Shares. (The six-month expense ratio for the California Tax-Exempt Money Market Fund reflects a temporary reduction in operating expenses, described in Note B of the Notes to Financial Statements. Before this reduction, the fund’s annualized six-month expense ratio was 0.16%.) The dollar amounts shown as “Expenses Paid” are equal to the annualized expense ratio multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by the number of days in the most recent 12-month period (183/366).
173
Trustees Approve Advisory Arrangements
The board of trustees of Vanguard California Tax-Exempt Money Market Fund, Vanguard California Intermediate-Term Tax-Exempt Fund, and Vanguard California Long-Term Tax-Exempt Fund has renewed each fund’s investment advisory arrangement with The Vanguard Group, Inc. (Vanguard)—through its Fixed Income Group. The board determined that continuing the funds’ internalized management structure was in the best interests of each fund and its shareholders.
The board based its decision upon an evaluation of the advisor’s investment staff, portfolio management process, and performance. The trustees considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board’s decision.
Nature, extent, and quality of services
The board reviewed the quality of each fund’s investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than three decades. The Fixed Income Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.
The board concluded that Vanguard’s experience, stability, depth, and performance, among other factors, warranted continuation of each advisory arrangement.
Investment performance
The board considered the short- and long-term performance of each fund, including any periods of outperformance or underperformance relative to a benchmark index (as applicable) and peer group. The board concluded that the performance was such that each advisory arrangement should continue. Information about the funds’ most recent performance can be found in the Performance Summary sections of this report.
Cost
The board concluded that each fund’s expense ratio was well below the average expense ratio charged by funds in its peer group and that each fund’s advisory fee rate was also well below its peer-group average. Information about the funds’ expenses appears in the About Your Fund’s Expenses section of this report as well as in the Financial Statements sections.
The board does not conduct a profitability analysis of Vanguard, because of Vanguard’s unique “at-structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees, and produces “profits” only in the form of reduced expenses for fund shareholders.
The benefit of economies of scale
The board concluded that each fund’s at-cost arrangement with Vanguard ensures that the funds will realize economies of scale as they grow, with the cost to shareholders declining as fund assets increase.
The board will consider whether to renew the advisory arrangements again after a one-year period.
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Glossary
7-Day SEC Yield and 30-Day SEC Yield. A money market fund’s 7-day SEC yield is calculated by annualizing its income distributions for the previous seven days, as required by the U.S. Securities and Exchange Commission. For other funds, 30-day SEC yield is derived using a formula specified by the commission. Under the formula, data related to the fund’s security holdings in the previous 30 days are used to calculate the fund’s hypothetical net income for that period, which is then annualized and divided by the fund’s estimated average net assets over the calculation period. For the purposes of this calculation, a security’s income is based on its current market yield to maturity (for bonds), its actual income (for asset-backed securities), or its projected dividend yield (for stocks). Because the SEC yield represents hypothetical annualized income, it will differ—at times significantly—from the fund’s actual experience. As a result, the fund’s income distributions may be higher or lower than implied by the SEC yield.
Average Coupon. The average interest rate paid on the fixed income securities held by a fund. It is expressed as a percentage of face value.
Average Duration. An estimate of how much the value of the bonds held by a fund will fluctuate in response to a change in interest rates. To see how the value could change, multiply the average duration by the change in rates. If interest rates rise by 1 percentage point, the value of the bonds in a fund with an average duration of five years would decline by about 5%. If rates decrease by a percentage point, the value would rise by 5%.
Average Stated Maturity. The average length of time until fixed income securities held by a fund reach maturity and are repaid using the maturity date of the security. The figure reflects the proportion of fund assets represented by each security; it also reflects any futures contracts held. In general, the longer the average stated maturity, the more a fund’s share price will fluctuate in response to changes in market interest rates.
Average Weighted Maturity. The average length of time until fixed income securities held by a fund reach maturity and are repaid. The figure reflects the proportion of fund assets represented by each security.
Beta. A measure of the magnitude of a fund’s past share-price fluctuations in relation to the ups and downs of a given market index. The index is assigned a beta of 1.00. Compared with a given index, a fund with a beta of 1.20 typically would have seen its share price rise or fall by 12% when the index rose or fell by 10%. For this report, beta is based on returns over the past 36 months for both the fund and the index. Note that a fund’s beta should be reviewed in conjunction with its R-squared (see definition). The lower the R-squared, the less correlation there is between the fund and the index, and the less reliable beta is as an indicator of volatility.
175
Credit Quality. For Vanguard money market funds, the Distribution by Credit Quality table includes tier ratings for consistency with SEC Rule 2a-7 under the Investment Company Act of 1940, which governs money market funds. A First Tier security is one that is eligible for money market funds and has been rated in the highest short-term rating category for debt obligations by the requisite nationally recognized statistical rating organizations. Credit-quality ratings are obtained from Moody’s, Fitch, and S&P. For securities rated by all three agencies, where two of them are in agreement and assign the highest rating category, the highest rating applies. If a security is only rated by two agencies, and their ratings are in different categories, the lower of the ratings applies. An unrated security is First Tier if it represents quality comparable to that of a rated security, as determined in accordance with SEC Rule 2a-7. A Second Tier security is one that is eligible for money market funds and is not a First Tier security. For Vanguard tax-exempt bond funds, credit-quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). Credit-quality ratings are obtained from Moody’s and S&P, and the higher rating for each issue is used. ”Not Rated” is used to classify securities for which a rating is not available. Not rated securities include a fund’s investment in Vanguard Market Liquidity Fund or Vanguard Municipal Cash Management Fund, each of which invests in high-quality money market instruments and may serve as a cash management vehicle for the Vanguard funds, trusts, and accounts.
Expense Ratio. A fund’s total annual operating expenses expressed as a percentage of the fund’s average net assets. The expense ratio includes management and administrative expenses, but does not include the transaction costs of buying and selling portfolio securities.
Inception Date. The date on which the assets of a fund (or one of its share classes) are first invested in accordance with the fund’s investment objective. For funds with a subscription period, the inception date is the day after that period ends. Investment performance is measured from the inception date.
R-Squared. A measure of how much of a fund’s past returns can be explained by the returns from the market in general, as measured by a given index. If a fund’s total returns were precisely synchronized with an index’s returns, its R-squared would be 1.00. If the fund’s returns bore no relationship to the index’s returns, its R-squared would be 0. For this report, R-squared is based on returns over the past 36 months for both the fund and the index.
Short-Term Reserves. The percentage of a fund invested in highly liquid, short-term securities that can be readily converted to cash.
Yield to Maturity. The rate of return an investor would receive if the fixed income securities held by a fund were held to their maturity dates.
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The People Who Govern Your Fund
The trustees of your mutual fund are there to see that the fund is operated and managed in your best interests since, as a shareholder, you are a part owner of the fund. Your fund’s trustees also serve on the board of directors of The Vanguard Group, Inc., which is owned by the Vanguard funds and provides services to them on an at-cost basis.
A majority of Vanguard’s board members are independent, meaning that they have no affiliation with Vanguard or the funds they oversee, apart from the sizable personal investments they have made as private individuals. The independent board members have distinguished backgrounds in business, academia, and public service. Each of the trustees and executive officers oversees 198 Vanguard funds.
The following table provides information for each trustee and executive officer of the fund. More information about the trustees is in the Statement of Additional Information, which can be obtained, without charge, by contacting Vanguard at 800-662-7447, or online at vanguard.com.
| Interested Trustee1 | Rajiv L. Gupta |
| Born 1945. Trustee Since December 2001.2 Principal | |
| F. William McNabb III | Occupation(s) During the Past Five Years and Other |
| Born 1957. Trustee Since July 2009. Chairman of | Experience: Chairman and Chief Executive Officer |
| the Board. Principal Occupation(s) During the Past | (retired 2009) and President (2006–2008) of |
| Five Years and Other Experience: Chairman of the | Rohm and Haas Co. (chemicals); Director of Tyco |
| Board of The Vanguard Group, Inc., and of each of | International plc (diversified manufacturing and |
| the investment companies served by The Vanguard | services), HP Inc. (printer and personal computer |
| Group, since January 2010; Director of The Vanguard | manufacturing), and Delphi Automotive plc |
| Group since 2008; Chief Executive Officer and | (automotive components); Senior Advisor at |
| President of The Vanguard Group, and of each of | New Mountain Capital. |
| the investment companies served by The Vanguard | |
| Group, since 2008; Director of Vanguard Marketing | Amy Gutmann |
| Corporation; Managing Director of The Vanguard | Born 1949. Trustee Since June 2006. Principal |
| Group (1995–2008). | Occupation(s) During the Past Five Years and |
| Other Experience: President of the University of | |
| Independent Trustees | Pennsylvania; Christopher H. Browne Distinguished |
| Professor of Political Science, School of Arts and | |
| Emerson U. Fullwood | Sciences, and Professor of Communication, Annenberg |
| Born 1948. Trustee Since January 2008. Principal | School for Communication, with secondary faculty |
| Occupation(s) During the Past Five Years and Other | appointments in the Department of Philosophy, School |
| Experience: Executive Chief Staff and Marketing | of Arts and Sciences, and at the Graduate School of |
| Officer for North America and Corporate Vice President | Education, University of Pennsylvania; Trustee of the |
| (retired 2008) of Xerox Corporation (document manage- | National Constitution Center; Chair of the Presidential |
| ment products and services); Executive in Residence | Commission for the Study of Bioethical Issues. |
| and 2009–2010 Distinguished Minett Professor at | |
| the Rochester Institute of Technology; Lead Director | JoAnn Heffernan Heisen |
| of SPX FLOW, Inc. (multi-industry manufacturing); | Born 1950. Trustee Since July 1998. Principal |
| Director of the United Way of Rochester, the University | Occupation(s) During the Past Five Years and |
| of Rochester Medical Center, Monroe Community | Other Experience: Corporate Vice President and |
| College Foundation, North Carolina A&T University, | Chief Global Diversity Officer (retired 2008) and |
| and Roberts Wesleyan College. | Member of the Executive Committee (1997–2008) |
| of Johnson & Johnson (pharmaceuticals/medical | |
| devices/consumer products); Director of Skytop | |
| Lodge Corporation (hotels) and the Robert Wood | |
| Johnson Foundation; Member of the Advisory | |
| Board of the Institute for Women’s Leadership | |
| at Rutgers University. |
| F. Joseph Loughrey | Executive Officers | |
| Born 1949. Trustee Since October 2009. Principal | ||
| Occupation(s) During the Past Five Years and Other | Glenn Booraem | |
| Experience: President and Chief Operating Officer | Born 1967. Treasurer Since May 2015. Principal | |
| (retired 2009) of Cummins Inc. (industrial machinery); | Occupation(s) During the Past Five Years and | |
| Chairman of the Board of Hillenbrand, Inc. (specialized | Other Experience: Principal of The Vanguard Group, | |
| consumer services), and of Oxfam America; Director | Inc.; Treasurer of each of the investment companies | |
| of SKF AB (industrial machinery), Hyster-Yale Materials | served by The Vanguard Group; Controller of each of | |
| Handling, Inc. (forklift trucks), the Lumina Foundation | the investment companies served by The Vanguard | |
| for Education, and the V Foundation for Cancer | Group (2010–2015); Assistant Controller of each of | |
| Research; Member of the Advisory Council for the | the investment companies served by The Vanguard | |
| College of Arts and Letters and of the Advisory Board | Group (2001–2010). | |
| to the Kellogg Institute for International Studies, both | ||
| at the University of Notre Dame. | Thomas J. Higgins | |
| Born 1957. Chief Financial Officer Since September | ||
| Mark Loughridge | 2008. Principal Occupation(s) During the Past Five | |
| Born 1953. Trustee Since March 2012. Principal | Years and Other Experience: Principal of The Vanguard | |
| Occupation(s) During the Past Five Years and Other | Group, Inc.; Chief Financial Officer of each of the | |
| Experience: Senior Vice President and Chief Financial | investment companies served by The Vanguard Group; | |
| Officer (retired 2013) at IBM (information technology | Treasurer of each of the investment companies served | |
| services); Fiduciary Member of IBM’s Retirement Plan | by The Vanguard Group (1998–2008). | |
| Committee (2004–2013); Director of the Dow Chemical | ||
| Company; Member of the Council on Chicago Booth. | Peter Mahoney | |
| Born 1974. Controller Since May 2015. Principal | ||
| Scott C. Malpass | Occupation(s) During the Past Five Years and | |
| Born 1962. Trustee Since March 2012. Principal | Other Experience: Head of Global Fund Accounting | |
| Occupation(s) During the Past Five Years and Other | at The Vanguard Group, Inc.; Controller of each of the | |
| Experience: Chief Investment Officer and Vice | investment companies served by The Vanguard Group; | |
| President at the University of Notre Dame; Assistant | Head of International Fund Services at The Vanguard | |
| Professor of Finance at the Mendoza College of | Group (2008–2014). | |
| Business at Notre Dame; Member of the Notre Dame | ||
| 403(b) Investment Committee, the Board of Advisors | Heidi Stam | |
| for Spruceview Capital Partners, and the Investment | Born 1956. Secretary Since July 2005. Principal | |
| Advisory Committee of Major League Baseball; Board | Occupation(s) During the Past Five Years and Other | |
| Member of TIFF Advisory Services, Inc., and Catholic | Experience: Managing Director of The Vanguard | |
| Investment Services, Inc. (investment advisors). | Group, Inc.; General Counsel of The Vanguard Group; | |
| Secretary of The Vanguard Group and of each of the | ||
| André F. Perold | investment companies served by The Vanguard Group; | |
| Born 1952. Trustee Since December 2004. Principal | Director and Senior Vice President of Vanguard | |
| Occupation(s) During the Past Five Years and Other | Marketing Corporation. | |
| Experience: George Gund Professor of Finance and | ||
| Banking, Emeritus at the Harvard Business School | Vanguard Senior ManagementTeam | |
| (retired 2011); Chief Investment Officer and Managing | ||
| Partner of HighVista Strategies LLC (private investment | Mortimer J. Buckley | James M. Norris |
| firm); Director of Rand Merchant Bank; Overseer of | Kathleen C. Gubanich | Thomas M. Rampulla |
| the Museum of Fine Arts Boston. | Martha G. King | Glenn W. Reed |
| John T. Marcante | Karin A. Risi | |
| Peter F. Volanakis | Chris D. McIsaac | |
| Born 1955. Trustee Since July 2009. Principal | ||
| Occupation(s) During the Past Five Years and Other | Chairman Emeritus and Senior Advisor | |
| Experience: President and Chief Operating Officer | ||
| (retired 2010) of Corning Incorporated (communications | John J. Brennan | |
| equipment); Trustee of Colby-Sawyer College and | Chairman, 1996–2009 | |
| Chairman of its Finance and Enrollment Committee; | Chief Executive Officer and President, 1996–2008 | |
| Member of the Advisory Board of the Norris Cotton | ||
| Cancer Center. | Founder | |
| John C. Bogle | ||
| Chairman and Chief Executive Officer, 1974–1996 | ||
1 Mr. McNabb is considered an “interested person,” as defined in the Investment Company Act of 1940, because he is an officer of the Vanguard funds.
2 December 2002 for Vanguard Equity Income Fund, the Vanguard Municipal Bond Funds, and the Vanguard State Tax-Exempt Funds.
 | ||
| P.O. Box 2600 | ||
| Valley Forge, PA 19482-2600 | ||
| Connect with Vanguard® > vanguard.com | ||
| Fund Information > 800-662-7447 | CFA® is a registered trademark owned by CFA Institute. | |
| Direct Investor Account Services > 800-662-2739 | ||
| Institutional Investor Services > 800-523-1036 | ||
| Text Telephone for People | ||
| Who Are Deaf or Hard of Hearing> 800-749-7273 | ||
| This material may be used in conjunction | ||
| with the offering of shares of any Vanguard | ||
| fund only if preceded or accompanied by | ||
| the fund’s current prospectus. | ||
| All comparative mutual fund data are from Lipper, a | ||
| Thomson Reuters Company, or Morningstar, Inc., unless | ||
| otherwise noted. | ||
| You can obtain a free copy of Vanguard’s proxy voting | ||
| guidelines by visiting vanguard.com/proxyreporting or by | ||
| calling Vanguard at 800-662-2739. The guidelines are | ||
| also available from the SEC’s website, sec.gov. In | ||
| addition, you may obtain a free report on how your fund | ||
| voted the proxies for securities it owned during the 12 | ||
| months ended June 30. To get the report, visit either | ||
| vanguard.com/proxyreporting or sec.gov. | ||
| You can review and copy information about your fund at | ||
| the SEC’s Public Reference Room in Washington, D.C. To | ||
| find out more about this public service, call the SEC at | ||
| 202-551-8090. Information about your fund is also | ||
| available on the SEC’s website, and you can receive | ||
| copies of this information, for a fee, by sending a | ||
| request in either of two ways: via email addressed to | ||
| publicinfo@sec.gov or via regular mail addressed to the | ||
| Public Reference Section, Securities and Exchange | ||
| Commission, Washington, DC 20549-1520. | ||
| © 2016 The Vanguard Group, Inc. | ||
| All rights reserved. | ||
| Vanguard Marketing Corporation, Distributor. | ||
| Q752 072016 | ||
Item 2: Code of Ethics.
Not Applicable.
Item 3: Audit Committee Financial Expert.
Not Applicable.
Item 4: Principal Accountant Fees and Services.
(a) Audit Fees.
Not Applicable.
Item 5: Audit Committee of Listed Registrants.
Not Applicable.
Item 6: Investments.
Not Applicable.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not Applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not Applicable.
Item 9: Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not Applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not Applicable.
Item 11: Controls and Procedures.
(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
(b) Internal Control Over Financial Reporting. There were no significant changes in Registrant’s Internal Control Over Financial Reporting or in other factors that could significantly affect this control subsequent to the date of the evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
Item 12: Exhibits.
(a) Certifications.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| VANGUARD CALIFORNIA TAX-FREE FUNDS | |
| BY: | /s/ F. WILLIAM MCNABB III* |
| F. WILLIAM MCNABB III | |
| CHIEF EXECUTIVE OFFICER | |
| Date: July 15, 2016 | |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| VANGUARD CALIFORNIA TAX-FREE FUNDS | |
| BY: | /s/ F. WILLIAM MCNABB III* |
| F. WILLIAM MCNABB III | |
| CHIEF EXECUTIVE OFFICER | |
| Date: July 15, 2016 | |
| VANGUARD CALIFORNIA TAX-FREE FUNDS | |
| BY: | /s/ THOMAS J. HIGGINS* |
| THOMAS J. HIGGINS | |
| CHIEF FINANCIAL OFFICER | |
| Date: July 15, 2016 | |
* By: /s/ Heidi Stam
Heidi Stam, pursuant to a Power of Attorney filed on April 22, 2014 see file Number
2-17620, Incorporated by Reference.