Vanguard® California Long-Term Tax-Exempt Fund
Schedule of Investments (unaudited)
As of February 28, 2026
The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund’s Form N-PORT reports are available on the SEC’s website at www.sec.gov.
    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
Tax-Exempt Municipal Bonds (100.7%)
California (99.4%)
1 ABAG Finance Authority for Nonprofit Corps. Miscellaneous Revenue (California Alumni Association Project) VRDO 1.100%   3/5/2026  1,620     1,620
  ABC Unified School District GO 3.000%   8/1/2040  2,000     1,865
  ABC Unified School District GO 3.000%   8/1/2044 12,085    10,497
  Acalanes Union High School District GO 6.350%   8/1/2039 10,000    11,191
  Acalanes Union High School District GO 6.550%   8/1/2039  4,500     5,065
2 Alameda Corridor Transportation Authority Port, Airport & Marina Revenue 5.000%  10/1/2052  3,300     3,423
2 Alameda Corridor Transportation Authority Transit Revenue 3.000%  10/1/2034  1,030     1,030
  Alameda Corridor Transportation Authority Transit Revenue 5.000%  10/1/2034  3,550     3,595
2 Alameda Corridor Transportation Authority Transit Revenue 4.000%  10/1/2035  1,000     1,005
  Alameda Corridor Transportation Authority Transit Revenue 5.000%  10/1/2035  1,060     1,073
  Alameda Corridor Transportation Authority Transit Revenue 5.000%  10/1/2037  7,700     7,782
3 Alameda County CA Fremont Unified School District GO 5.000%   8/1/2026    465       468
3 Alameda County CA Fremont Unified School District GO 5.000%   8/1/2032  1,000     1,164
  Alameda County CA Fremont Unified School District GO 3.000%   8/1/2033  1,000     1,009
3 Alameda County CA Fremont Unified School District GO 5.000%   8/1/2034  1,290     1,549
3 Alameda County CA Fremont Unified School District GO 5.000%   8/1/2036  1,365     1,659
3 Alameda County CA Fremont Unified School District GO 5.000%   8/1/2037  1,135     1,365
  Alameda County CA Unified School District GO 4.000%   8/1/2052  6,930     6,630
2 Alameda County Oakland Unified School District GO 3.000%   8/1/2040  7,000     6,626
  Alameda County Transportation Commission Sales Tax Revenue 5.000%   3/1/2045  2,240     2,417
  Alameda County Water District Financing Authority Intergovernmental Agreement Revenue 3.000%   6/1/2040    850       824
2 Alhambra Unified School District GO 0.000%   8/1/2042  2,250     1,216
4 Alisal Union School District GO 5.250%   8/1/2042  1,500     1,546
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2037    500       554
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2038    600       661
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2039  1,000     1,094
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2040  1,300     1,416
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2041  1,900     2,063
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2042  2,000     2,158
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2043  2,080     2,229
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.000%  10/1/2044  2,525     2,686
  Anaheim Housing & Public Improvements Authority Intergovernmental Agreement Revenue 5.500%  10/1/2055  3,000     3,171
4 Anaheim Public Financing Authority Lease (Abatement) Revenue (Anaheim Public Improvements Project) 5.000%   9/1/2035  1,500     1,554
4 Anaheim Public Financing Authority Lease (Abatement) Revenue (Anaheim Public Improvements Project) 5.000%   9/1/2036    400       414
3 Antelope Valley Community College District GO 5.000%   8/1/2043    340       375
3 Antelope Valley Community College District GO 5.000%   8/1/2044    285       311
  Antelope Valley Community College District GO 3.000%   8/1/2050  3,000     2,314
  Antelope Valley Healthcare District Health, Hospital, Nursing Home Revenue 5.250%   3/1/2036  1,870     1,870
2 Antioch Unified School District GO 4.000%   8/1/2054  7,875     7,474
  Arcadia CA Unified School District GO 4.000%   8/1/2047  3,255     3,245
  Arcadia CA Unified School District GO 4.000%   8/1/2048  3,625     3,597
  Bay Area Toll Authority Highway Revenue 4.000%   4/1/2038    565       570
3 Bay Area Toll Authority Highway Revenue 5.000%   4/1/2040  2,240     2,786
3 Bay Area Toll Authority Highway Revenue 5.000%   4/1/2041  1,260     1,568
3 Bay Area Toll Authority Highway Revenue 5.000%   4/1/2042  1,530     1,894
3 Bay Area Toll Authority Highway Revenue 5.000%   4/1/2043  1,220     1,496
3 Bay Area Toll Authority Highway Revenue 5.000%   4/1/2044  1,010     1,232
  Bay Area Toll Authority Highway Revenue 5.000%   4/1/2053  8,950     9,544
  Bay Area Toll Authority Highway Revenue 3.000%   4/1/2054 16,705    12,527
  Bay Area Toll Authority Highway Revenue 2.600%   4/1/2056 20,000    13,259
  Bay Area Toll Authority Highway Revenue PUT 2.000%   4/1/2028  4,750     4,666
3 Bay Area Toll Authority Highway Revenue PUT 5.000%  10/1/2033  4,950     5,809
  Bay Area Toll Authority Highway Revenue PUT 2.625%   4/1/2045 19,895    19,894
1 Bay Area Toll Authority Highway Revenue VRDO 1.250%   3/2/2026 22,700    22,700
1 Bay Area Toll Authority Highway Revenue VRDO 1.250%   3/2/2026  9,795     9,795
1 Bay Area Toll Authority Highway Revenue VRDO 1.250%   3/2/2026 67,280    67,280
1 Bay Area Toll Authority Highway Revenue VRDO 1.400%   3/2/2026 11,080    11,080
1 Bay Area Toll Authority Highway Revenue VRDO 1.570%   3/2/2026  3,445     3,445
5 Bay Area Toll Authority Highway Revenue, SIFMA Municipal Swap Index Yield + 1.250% 3.130%   4/1/2036  1,250     1,252

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Berkeley CA GO 2.000%   9/1/2041    140       106
  Berkeley CA Unified School District GO 2.000%   8/1/2039    530       437
  Berkeley CA Unified School District GO 2.000%   8/1/2040    440       352
  Berryessa Union School District GO 5.000%   8/1/2040  1,270     1,293
  Beverly Hills CA Unified School District GO 3.000%   8/1/2040  3,155     3,042
  Beverly Hills CA Unified School District GO 3.000%   8/1/2041  2,000     1,873
  Brentwood Union School District GO 5.250%   8/1/2052  3,000     3,180
  Buena Park School District GO 5.000%   8/1/2043    970     1,094
  Buena Park School District GO 5.000%   8/1/2044  1,095     1,221
  Buena Park School District GO 5.000%   8/1/2045    355       391
  Burlingame School District GO 3.000%   8/1/2042  2,000     1,824
  Butte-Glenn Community College District GO 3.000%   8/1/2044    455       385
  California Community Choice Financing Authority Electric Power & Light Revenue 5.000%  11/1/2033 19,460    21,535
  California Community Choice Financing Authority Electric Power & Light Revenue 5.000%  12/1/2035 18,865    21,245
  California Community Choice Financing Authority Electric Power & Light Revenue 5.000%   3/1/2036 15,000    16,346
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 4.000%  12/1/2027 61,940    63,131
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   8/1/2029 24,255    25,807
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   8/1/2029 24,580    26,139
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.250%   4/1/2030 24,580    26,508
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.500%  11/1/2030  5,715     6,281
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   3/1/2031 14,675    15,871
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   4/1/2032 14,115    15,388
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   9/1/2032 27,500    30,425
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%  10/1/2032 21,270    23,011
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%  12/1/2032 28,635    30,259
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   8/1/2033 39,615    44,192
  California Community Choice Financing Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%  10/1/2033 11,340    12,303
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 4.000%   8/1/2028 35,840    36,691
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.500%  11/1/2028 48,175    51,324
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 4.000%   8/1/2031 10,000    10,389
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%  11/1/2032 10,275    11,279
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%   7/1/2034 27,470    29,266
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%   5/1/2035 16,090    17,237
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%   5/1/2035  5,750     6,440
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%  11/1/2035  8,480     9,419
  California Community Choice Financing Authority Electric Power & Light Revenue PUT 5.000%   2/1/2036 13,000    14,425
1,6 California Community Choice Financing Authority Electric Power & Light Revenue TOB VRDO 1.650%   3/2/2026  1,165     1,165
6 California Community Housing Agency Local or Guaranteed Housing Revenue 4.000%   8/1/2050  1,865     1,498
6 California Community Housing Agency Local or Guaranteed Housing Revenue 4.000%   2/1/2056  3,250     2,595
6 California Community Housing Agency Local or Guaranteed Housing Revenue 4.000%   2/1/2056  3,000     2,545
  California County Tobacco Securitization Agency Tobacco Settlement Funded Revenue 5.000%   6/1/2033    885       936
  California County Tobacco Securitization Agency Tobacco Settlement Funded Revenue 4.000%   6/1/2036  1,710     1,715
  California County Tobacco Securitization Agency Tobacco Settlement Funded Revenue 4.000%   6/1/2049  4,500     4,006
  California County Tobacco Securitization Agency Tobacco Settlement Funded Revenue 4.000%   6/1/2049  1,125     1,002
  California County Tobacco Securitization Agency Tobacco Settlement Funded Revenue 0.000%   6/1/2055 23,195     4,980
  California Department of Water Resources Water Revenue (Central Valley Project) 5.000%  12/1/2047  8,000     8,822
  California Department of Water Resources Water Revenue (Central Valley Project) 5.000%  12/1/2048  8,715     9,543
  California Department of Water Resources Water Revenue (Central Valley Project) 5.000%  12/1/2056  3,600     3,862
  California Educational Facilities Authority College & University Revenue 5.000%  12/1/2033    250       262
  California Educational Facilities Authority College & University Revenue 5.000%  12/1/2038  2,250     2,322
  California Educational Facilities Authority College & University Revenue 5.000%   4/1/2042  1,780     1,800
  California Educational Facilities Authority College & University Revenue 5.000%   6/1/2043 14,000    17,224
  California Educational Facilities Authority College & University Revenue 5.000%  11/1/2043  1,000     1,101
  California Educational Facilities Authority College & University Revenue 5.250%  10/1/2044    745       756
  California Educational Facilities Authority College & University Revenue 5.000%  10/1/2045  1,000     1,001
  California Educational Facilities Authority College & University Revenue 5.000%   6/1/2046  6,680     7,880
  California Educational Facilities Authority College & University Revenue 5.000%   5/1/2049  8,505     9,859
  California Educational Facilities Authority College & University Revenue 4.000%  12/1/2050  2,380     2,087
  California Educational Facilities Authority College & University Revenue 2.250%   4/1/2051    250       164
  California Educational Facilities Authority College & University Revenue 5.000%   4/1/2051  4,685     5,393
  California Educational Facilities Authority College & University Revenue 5.500%  10/1/2053 16,020    15,945
  California Educational Facilities Authority College & University Revenue 5.000%  10/1/2055 25,000    26,536
  California Educational Facilities Authority College & University Revenue 5.250%  10/1/2055  2,500     2,643
6 California Educational Facilities Authority Revenue TOB VRDO 1.800%   3/2/2026  3,600     3,601
1,6 California Educational Facilities Authority Revenue TOB VRDO 2.000%   3/2/2026 13,060    13,060
6 California Enterprise Development Authority Charter School Aid Revenue 4.000%   6/1/2042  2,000     1,847
6 California Enterprise Development Authority Charter School Aid Revenue 5.000%   6/1/2064  3,800     3,672
6 California Enterprise Development Authority Charter School Aid Revenue (The Rocklin Academy Project) 5.000%   6/1/2064  4,270     4,132
  California Enterprise Development Authority Lease (Abatement) Revenue (Riverside County-Mead Valley Wellness Village Project) 5.250%  11/1/2049 12,500    12,749

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  California Enterprise Development Authority Lease (Abatement) Revenue (Riverside County-Mead Valley Wellness Village Project) 5.250%  11/1/2054 15,085    16,168
  California Enterprise Development Authority Lease (Abatement) Revenue (Riverside County-Mead Valley Wellness Village Project) 5.500%  11/1/2059 39,215    42,718
  California Enterprise Development Authority Lease (Abatement) Revenue (Riverside County-Mead Valley Wellness Village Project) 5.500%  11/1/2059 15,000    15,337
6 California Enterprise Development Authority Lease (Abatement) Revenue TOB VRDO 1.910%   3/5/2026  7,030     7,030
  California Enterprise Development Authority Private Schools Revenue (Castilleja School Foundation Project) 5.000%   6/1/2049  3,950     4,163
  California Enterprise Development Authority Private Schools Revenue (Castilleja School Foundation Project) 4.000%   6/1/2054  7,000     6,458
  California GO 4.000%   9/1/2031  5,000     5,038
  California GO 4.000%   9/1/2032  2,480     2,498
  California GO 3.000%  10/1/2033  1,000     1,014
  California GO 4.000%  10/1/2034  3,845     4,041
  California GO 3.000%  11/1/2034  1,000     1,015
  California GO 4.000%  11/1/2034  4,540     4,859
  California GO 3.250%  12/1/2035    235       241
  California GO 4.000%   3/1/2036 15,650    16,498
  California GO 5.000%   4/1/2036  4,595     4,954
  California GO 3.000%   9/1/2036  7,000     6,977
  California GO 5.000%  10/1/2037  7,815     8,795
  California GO 5.000%   4/1/2038  1,500     1,605
  California GO 4.000%   8/1/2038    200       201
  California GO 5.000%   9/1/2038  2,605     3,012
  California GO 5.000%   8/1/2039 14,020    16,328
  California GO 5.000%   9/1/2039  1,505     1,701
  California GO 5.000%  10/1/2039 16,775    16,801
  California GO 5.000%  10/1/2039  5,230     5,626
  California GO 5.000%  10/1/2039  1,750     1,995
  California GO 3.200%  12/1/2039  3,355     3,313
  California GO 4.000%   3/1/2040    910       939
  California GO 5.000%   9/1/2041 30,225    33,370
  California GO 5.000%  10/1/2041 17,645    19,351
  California GO 3.000%  11/1/2041  4,125     3,848
  California GO 2.250%  12/1/2041    480       387
  California GO 3.200%  12/1/2041  2,000     1,863
  California GO 4.000%   4/1/2042  1,500     1,548
  California GO 4.000%   9/1/2042  1,700     1,758
  California GO 5.000%   9/1/2042 23,770    26,419
  California GO 5.000%  10/1/2042  5,000     5,284
  California GO 5.000%  10/1/2042 22,800    25,545
  California GO 5.000%  11/1/2042  1,250     1,392
  California GO 5.000%   3/1/2043  7,150     8,112
  California GO 4.000%   9/1/2043  8,290     8,521
  California GO 4.125%   3/1/2045  2,320     2,373
  California GO 2.375%  10/1/2046  2,000     1,457
  California GO 5.000%  11/1/2046 13,540    14,871
  California GO 3.000%  12/1/2046 12,515    10,312
  California GO 3.625%  10/1/2047  1,020       917
  California GO 2.500%  12/1/2049    100        70
  California GO 2.500%   3/1/2050  1,000       695
1 California GO VRDO 1.300%   3/2/2026    850       850
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.850% 11/15/2027    500       500
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2031  7,500     8,381
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2031  5,140     5,729
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2032  5,260     5,931
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2034  6,755     7,737
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2035  3,175     3,663
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  11/1/2036  3,000     2,966
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2036  7,475     8,432
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  11/1/2037  6,310     6,161
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2037    150       156
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2037  3,350     3,739
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  11/1/2038  3,990     3,825
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%  11/1/2038  6,000     6,046
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2038    100       110
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2038  5,040     5,577
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.250%  8/15/2039    505       487
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%  8/15/2039  1,000     1,001
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  11/1/2039  8,135     7,630
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2039  1,080     1,188

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.250%  12/1/2040    750       835
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/2041 10,000    10,995
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  10/1/2041  3,435     3,055
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 2.125%  11/1/2041  3,500     2,677
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.250%  12/1/2041  1,660     1,828
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000% 11/15/2042 12,805    12,705
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.250%  12/1/2042  1,050     1,145
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.250%  10/1/2044  5,000     4,835
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%  11/1/2044  2,845     2,793
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%   4/1/2045  1,190     1,144
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2046  2,000     2,019
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%   6/1/2047  5,000     3,966
4 California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%   6/1/2047  9,980     8,066
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  10/1/2047  1,175       896
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.250%   2/1/2048  3,800     4,129
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%  8/15/2048 30,000    28,667
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000% 11/15/2048    975       894
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.250% 11/15/2048  2,000     2,076
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%  8/15/2049  1,440     1,207
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 4.000%  5/15/2051  6,750     6,362
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  8/15/2051  7,500     5,639
2 California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 3.000%  8/15/2051  5,975     4,604
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.000%  8/15/2051  4,000     4,195
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.250% 11/15/2053  2,500     2,569
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue 5.250% 11/15/2058  3,000     3,071
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/2027 11,685    12,085
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   9/1/2028  6,755     7,017
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/2030 18,775    20,332
  California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue PUT 5.000%  10/1/2032 20,600    23,060
1,6 California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue TOB VRDO 1.970%   3/5/2026  8,495     8,495
1 California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue VRDO 1.250%   3/2/2026  9,865     9,865
1 California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue VRDO 1.400%   3/2/2026  7,575     7,575
1 California Health Facilities Financing Authority Health, Hospital, Nursing Home Revenue VRDO 1.350%   3/4/2026  1,365     1,365
7 California Housing Finance Agency Local or Guaranteed Housing Revenue 3.650%   8/1/2030    500       518
7 California Housing Finance Agency Local or Guaranteed Housing Revenue 3.800%   2/1/2032    250       262
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%  3/20/2033 19,283    20,076
7 California Housing Finance Agency Local or Guaranteed Housing Revenue 3.850%   8/1/2033    260       273
  California Housing Finance Agency Local or Guaranteed Housing Revenue 3.750%   7/1/2034  5,845     6,019
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.250%  1/15/2035  7,619     8,031
7 California Housing Finance Agency Local or Guaranteed Housing Revenue 3.950%   2/1/2035    225       234
  California Housing Finance Agency Local or Guaranteed Housing Revenue 3.750%  3/25/2035 15,691    16,399
  California Housing Finance Agency Local or Guaranteed Housing Revenue 3.500% 11/20/2035 22,648    23,169
  California Housing Finance Agency Local or Guaranteed Housing Revenue 2.350%  12/1/2035  2,239     1,997
  California Housing Finance Agency Local or Guaranteed Housing Revenue 3.250%  8/20/2036  2,994     2,986
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.375%  9/20/2036  4,382     4,657
  California Housing Finance Agency Local or Guaranteed Housing Revenue 3.700%  11/1/2037  2,325     2,428
  California Housing Finance Agency Local or Guaranteed Housing Revenue 2.500%   2/1/2038  1,600     1,447
7 California Housing Finance Agency Local or Guaranteed Housing Revenue 3.850%   8/1/2039  3,285     3,364
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.000%  10/1/2039  5,000     5,238
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.100%   7/1/2040  8,560     8,747
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.100%   9/1/2040  9,250     9,617
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.100%   9/1/2040  9,315     9,685
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.250%   8/1/2041  1,485     1,546
  California Housing Finance Agency Local or Guaranteed Housing Revenue 4.330%   2/1/2042  5,000     5,148
7 California Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.600%   8/1/2026  1,000     1,001
  California Housing Finance Agency Local or Guaranteed Housing Revenue PUT 3.250%   7/1/2027 12,935    13,038
  California Housing Finance Agency Local or Guaranteed Housing Revenue PUT 2.750%   5/1/2028  2,900     2,907
  California Housing Finance Agency Local or Guaranteed Housing Revenue PUT 2.750%  11/1/2028  1,600     1,604
  California Housing Finance Agency Local or Guaranteed Housing Revenue PUT 2.900%   5/1/2029  7,500     7,563
  California Housing Finance Agency Local or Guaranteed Housing Revenue PUT 2.950%  12/1/2029  4,000     4,048
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 5.000%  11/1/2044    275       283
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 4.000%  11/1/2045  1,885     1,795
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 4.000%  11/1/2046  1,700     1,596
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 5.000%  11/1/2049  1,500     1,562
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 4.000%  11/1/2050  1,730     1,568
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 4.000%  11/1/2051  1,750     1,574
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 5.000%  11/1/2054  1,750     1,802
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 4.000%  11/1/2055  1,860     1,641
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 4.000%  11/1/2056  3,350     2,944
  California Infrastructure & Economic Development Bank Charter School Aid Revenue 5.000%  11/1/2059  1,250     1,282

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
6 California Infrastructure & Economic Development Bank Charter School Aid Revenue (WFCS Portfolio Projects) 5.000%   1/1/2056  4,530     3,965
  California Infrastructure & Economic Development Bank College & University Revenue 5.000%  5/15/2047  3,325     3,400
  California Infrastructure & Economic Development Bank College & University Revenue 5.250%  5/15/2059  4,275     4,610
  California Infrastructure & Economic Development Bank Health, Hospital, Nursing Home Revenue (Adventist Health Energy Projects) 5.000%   7/1/2043  1,765     1,855
  California Infrastructure & Economic Development Bank Health, Hospital, Nursing Home Revenue (Adventist Health Energy Projects) 5.000%   7/1/2044  1,835     1,906
  California Infrastructure & Economic Development Bank Health, Hospital, Nursing Home Revenue (Adventist Health Energy Projects) 5.250%   7/1/2054  6,880     7,010
6 California Infrastructure & Economic Development Bank Health, Hospital, Nursing Home Revenue (PIH Health Energy Projects) 5.000%  12/1/2054 18,265    18,721
  California Infrastructure & Economic Development Bank Lease (Abatement) Revenue 5.000%   8/1/2044  1,385     1,458
  California Infrastructure & Economic Development Bank Private Schools Revenue PUT 1.750%   8/1/2026  3,240     3,218
  California Infrastructure & Economic Development Bank Recreational Revenue 3.000%   7/1/2050 12,525     9,470
5 California Infrastructure & Economic Development Bank Recreational Revenue, SIFMA Municipal Swap Index Yield + 0.700% 2.580%  12/1/2050  1,625     1,623
  California Infrastructure & Economic Development Bank Water Revenue 5.000%   7/1/2039  9,040     9,883
6 California Municipal Finance Authority Charter School Aid Revenue (Palmdale Aerospace Academy Project) 4.000%   7/1/2026    260       260
6 California Municipal Finance Authority Charter School Aid Revenue (Palmdale Aerospace Academy Project) 5.000%   7/1/2038  1,000     1,012
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2029    225       237
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2030  1,165     1,203
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2032    225       235
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2033    625       643
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2034  1,125     1,156
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2034    750       780
  California Municipal Finance Authority College & University Revenue 5.000%   4/1/2035    530       530
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2036    250       259
  California Municipal Finance Authority College & University Revenue 5.000%  10/1/2038  1,800     1,854
  California Municipal Finance Authority College & University Revenue 5.000%   4/1/2041    740       728
  California Municipal Finance Authority College & University Revenue 5.000%   7/1/2042  2,410     2,645
  California Municipal Finance Authority College & University Revenue 4.000%  11/1/2042  1,610     1,621
  California Municipal Finance Authority College & University Revenue 4.000%  11/1/2044  1,500     1,491
  California Municipal Finance Authority College & University Revenue 5.500%   7/1/2060  5,250     5,665
  California Municipal Finance Authority College & University Revenue, Prere. 4.000%  11/1/2031     15        16
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/2028  1,800     1,835
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2029  1,000     1,075
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2030  1,050     1,147
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2031  1,100     1,219
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/2032  1,430     1,464
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2032  1,160     1,300
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/2033    600       604
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/2033  1,450     1,483
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2033  1,825     2,054
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/2034  1,775     1,814
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2034  1,275     1,429
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/2035  2,000     2,042
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/2035  1,240     1,266
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2035  1,345     1,499
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.250%  11/1/2036  2,375     2,393
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2036  1,405     1,557
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/2037  1,800     1,832
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2037  1,110     1,223
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2038  1,555     1,706
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/2039  2,130     2,131
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 11/15/2039  1,550     1,692
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/2040  1,000     1,020
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/2040  1,000       945
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   2/1/2042  2,575     2,598
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   7/1/2042  3,465     3,503
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/2044  2,555     2,566
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 3.000%   2/1/2046  5,945     4,650
2 California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 3.000%   2/1/2046  2,500     1,978
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 3.000%  10/1/2046  1,000       794
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 4.000%  10/1/2049  3,105     2,772
6 California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  11/1/2049  4,000     3,864
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 4.000%   2/1/2051 16,595    14,543
6 California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  12/1/2054  2,250     2,254
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue 5.375%   6/1/2056  1,570     1,601

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue (California Armenian Home Project) 5.000%  5/15/2045  3,605     3,735
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue (Carmel Valley Manor Project) 5.000%  5/15/2042  5,000     5,397
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue (Channing House Project) 4.000%  5/15/2040  6,500     6,540
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue (Institute on Aging Project) 5.000%  8/15/2037  1,405     1,446
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue (South Central Los Angeles Regional Center Project) 5.000%  12/1/2038    725       836
  California Municipal Finance Authority Health, Hospital, Nursing Home Revenue (South Central Los Angeles Regional Center Project) 4.000%  12/1/2043  1,000     1,001
  California Municipal Finance Authority Lease (Abatement) Revenue 5.000%   6/1/2037  3,015     3,106
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 3.600%  11/1/2034  2,625     2,764
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 5.000%  5/15/2035  1,430     1,510
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 2.650%   8/1/2036  7,846     7,277
4 California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.000%  5/15/2039  1,000     1,026
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 5.000%  5/15/2040  1,480     1,518
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.200%   8/1/2040  1,870     1,960
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.000%  11/1/2040  4,490     4,621
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.326% 11/20/2040  6,855     6,960
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.326% 11/20/2040  2,194     2,134
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 3.536%  2/20/2041  4,959     4,801
3 California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.050%  7/20/2041  4,486     4,536
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.125%  11/1/2041  1,235     1,267
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 5.050%   4/1/2044  1,610     1,772
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 4.480%   6/1/2044  1,666     1,750
  California Municipal Finance Authority Local or Guaranteed Housing Revenue 5.000%   4/1/2048  2,000     2,034
4 California Municipal Finance Authority Local or Guaranteed Housing Revenue 3.000%  5/15/2051 15,990    12,125
4 California Municipal Finance Authority Local or Guaranteed Housing Revenue 3.000%  5/15/2054  8,225     6,061
6 California Municipal Finance Authority Local or Guaranteed Housing Revenue 5.500%   7/1/2057  5,145     5,200
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 5.000%  8/15/2031    270       301
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 5.000%  8/15/2032    285       321
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 5.000%  8/15/2033    300       341
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 4.000%  8/15/2042  1,000       978
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 5.000%  8/15/2049  1,000     1,027
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 5.000%  8/15/2054  1,000     1,019
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 5.250%  8/15/2058  1,600     1,648
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Caritas Projects) 5.000%  8/15/2059  1,000     1,015
6 California Municipal Finance Authority Local or Guaranteed Housing Revenue (Claremont Colleges Project) 5.000%   7/1/2052  3,040     2,792
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Gibson Drive Apartments Project) 4.450%  12/1/2042  4,500     4,641
  California Municipal Finance Authority Local or Guaranteed Housing Revenue (Gibson Drive Apartments Project) PUT 3.750%   6/1/2027  1,729     1,754
  California Municipal Finance Authority Local or Guaranteed Housing Revenue PUT 3.200%   8/1/2027  1,250     1,255
  California Municipal Finance Authority Local or Guaranteed Housing Revenue PUT 3.150%  10/1/2027  1,300     1,309
  California Municipal Finance Authority Local or Guaranteed Housing Revenue PUT 3.050%   6/1/2028    585       591
  California Municipal Finance Authority Local or Guaranteed Housing Revenue PUT 3.000%  10/1/2028  1,600     1,614
  California Municipal Finance Authority Local or Guaranteed Housing Revenue PUT 2.930%   6/1/2029  2,500     2,523
6 California Municipal Finance Authority Private Schools Revenue (Westside Neighborhood School Project) 6.200%  6/15/2054  1,000     1,052
6 California Municipal Finance Authority Private Schools Revenue (Westside Neighborhood School Project) 6.375%  6/15/2064  4,345     4,591
6 California Municipal Finance Authority Resource Recovery Revenue (Waste Management Inc. Project) PUT 3.300%   2/1/2028  1,000     1,008
3 California Municipal Finance Authority Revenue 4.050%  7/20/2041    460       445
  California Municipal Finance Authority Special Tax Revenue (Bold Program) 5.500%   9/1/2053  4,500     4,717
  California Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%   6/1/2028  1,000     1,053
  California Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 10/15/2031  1,070     1,081
  California Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000% 10/15/2033    200       202
  California Public Finance Authority Health, Hospital, Nursing Home Revenue 5.000%  7/15/2046  3,355     3,580
1 California Public Finance Authority Health, Hospital, Nursing Home Revenue VRDO 1.150%   3/2/2026  9,000     9,000
  California Public Finance Authority Health, Hospital, Nursing Home Revenue VRDO 1.250%   3/2/2026 38,540    38,540
6 California Public Finance Authority Local or Guaranteed Housing Revenue 6.500%   6/1/2054  7,280     7,103
6 California Public Finance Authority Local or Guaranteed Housing Revenue 6.375%   6/1/2059 14,110    13,386
6 California Public Finance Authority Local or Guaranteed Housing Revenue 6.625%   6/1/2065  3,130     3,263
6 California Public Finance Authority Local or Guaranteed Housing Revenue 6.750%   7/1/2065 19,685    21,216
2 California School Facilities Financing Authority Intergovernmental Agreement Revenue 0.000%   8/1/2049  5,000     1,591
6 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/2026  1,000     1,001
6 California School Finance Authority Charter School Aid Revenue 5.000%   7/1/2031  1,830     1,832
6 California School Finance Authority Charter School Aid Revenue 4.000%   7/1/2038    930       930
6 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/2041  2,750     2,751
6 California School Finance Authority Charter School Aid Revenue 5.000%   7/1/2045  1,000     1,000
6 California School Finance Authority Charter School Aid Revenue 4.000%   7/1/2048  5,410     4,583
6 California School Finance Authority Charter School Aid Revenue 5.000%   7/1/2049  1,000     1,022
6 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/2050  1,200     1,165

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
6 California School Finance Authority Charter School Aid Revenue 4.000%   8/1/2051  2,385     1,997
6 California School Finance Authority Charter School Aid Revenue 5.000%   6/1/2054  1,770     1,627
6 California School Finance Authority Charter School Aid Revenue 5.000%   7/1/2059  3,200     3,229
6 California School Finance Authority Charter School Aid Revenue 5.000%   8/1/2059     30        29
6 California School Finance Authority Charter School Aid Revenue 4.000%   6/1/2061 10,000     7,607
6 California School Finance Authority Charter School Aid Revenue 4.000%   8/1/2061  5,550     4,466
6 California School Finance Authority Charter School Aid Revenue 5.000%   6/1/2064  2,885     2,587
6 California School Finance Authority Charter School Aid Revenue (IVY Academia Project) 4.000%   6/1/2051  1,500     1,068
6 California School Finance Authority Charter School Aid Revenue (IVY Academia Project) 4.000%   6/1/2061  3,675     2,441
6 California School Finance Authority Charter School Aid Revenue (KIPP LA Project) 5.000%   7/1/2047  3,240     3,245
6 California School Finance Authority Charter School Aid Revenue (KIPP LA Projects) 5.000%   7/1/2035    300       300
6 California School Finance Authority Charter School Aid Revenue (KIPP Social Projects) 5.000%   7/1/2039  1,000     1,036
6 California School Finance Authority Charter School Aid Revenue (KIPP Social Projects) 4.000%   7/1/2040  1,000       981
6 California School Finance Authority Charter School Aid Revenue (KIPP Social Projects) 5.000%   7/1/2049    150       150
6 California School Finance Authority Charter School Aid Revenue (KIPP Social Projects) 4.000%   7/1/2055  6,450     5,383
6 California School Finance Authority Charter School Aid Revenue (New Designs Charter School Adams Campus Project) 5.000%   6/1/2050  2,120     2,043
6 California School Finance Authority Charter School Aid Revenue (Santa Clarita Valley International School Project) 4.000%   6/1/2051  1,550     1,069
  California School Finance Authority Lease (Abatement) Revenue (Grossmont United High School District Project) 4.000%   7/1/2034    475       504
  California School Finance Authority Lease (Abatement) Revenue (Grossmont United High School District Project) 4.000%   7/1/2035    975     1,032
6 California School Finance Authority Local or Guaranteed Housing Revenue (Sonoma County Junior College District Project) 4.000%  11/1/2036  1,480     1,470
6 California School Finance Authority Local or Guaranteed Housing Revenue (Sonoma County Junior College District Project) 4.000%  11/1/2051    250       206
  California State Public Works Board Lease (Abatement) Revenue 4.000%   5/1/2040  8,095     8,453
  California State Public Works Board Lease (Abatement) Revenue 4.000%   5/1/2041  5,000     5,189
  California State Public Works Board Lease (Abatement) Revenue 5.000%   4/1/2043  1,000     1,124
  California State Public Works Board Lease (Abatement) Revenue 5.000%   4/1/2044  1,000     1,111
  California State Public Works Board Lease (Abatement) Revenue 5.000%   4/1/2045  1,000     1,099
  California State Public Works Board Lease (Abatement) Revenue 4.000%   5/1/2045  5,975     6,017
  California State Public Works Board Lease (Abatement) Revenue 5.000%   4/1/2049 10,910    11,679
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 4.000%  11/1/2030  6,000     6,062
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 4.000%   3/1/2037    655       686
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 4.000%   5/1/2039  1,255     1,312
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 3.000%  11/1/2039  8,295     8,028
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   4/1/2040  2,000     2,348
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   4/1/2041  5,000     5,813
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.250%   4/1/2042  5,000     5,865
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   4/1/2043  3,210     3,651
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/2043  2,000     2,289
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/2044  4,860     5,127
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/2044  1,000     1,106
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/2044  3,740     4,222
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 2.625%  11/1/2045  4,145     3,211
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/2045  3,230     3,602
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/2046  6,230     6,747
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%   4/1/2050  5,070     5,429
  California State Public Works Board Lease (Abatement) Revenue (Various Capital Projects) 5.000%  11/1/2050  6,000     6,447
  California State Public Works Board Lease (Appropriation) Revenue 5.000%  11/1/2046  6,515     6,929
  California State Public Works Board Lease (Appropriation) Revenue (Various Capital Projects) 5.000%  11/1/2046  3,295     3,504
  California State University College & University Revenue 3.000%  11/1/2038  2,280     2,243
  California State University College & University Revenue 5.000%  11/1/2039  5,240     5,561
  California State University College & University Revenue 5.000%  11/1/2041  7,815     7,840
  California State University College & University Revenue 5.000%  11/1/2042  2,500     2,557
  California State University College & University Revenue 5.000%  11/1/2043    500       523
  California State University College & University Revenue 5.000%  11/1/2046  3,010     3,329
  California State University College & University Revenue 4.000%  11/1/2049  4,710     4,628
  California State University College & University Revenue 5.000%  11/1/2049  5,000     5,188
  California State University College & University Revenue 5.250%  11/1/2050 19,000    20,981
  California State University College & University Revenue 4.000%  11/1/2055  6,045     5,778
  California State University College & University Revenue 5.500%  11/1/2055  4,510     4,975
  California State University College & University Revenue 5.250%  11/1/2056  9,360    10,199
  California State University College & University Revenue PUT 1.600%  11/1/2026  3,500     3,476
  California State University Local or Guaranteed Housing Revenue 3.000%  11/1/2051  5,000     3,795
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/2029  1,465     1,467
6 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/2030 10,000    11,308
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/2031  4,920     4,926

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/2032    900       940
6 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/2032 10,000    11,571
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/2033  1,350     1,407
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/2034    980     1,019
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/2034    895       925
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   3/1/2035  2,715     2,717
6 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%  10/1/2035 10,000    11,923
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/2036  1,480     1,522
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 3.000%  8/15/2036    385       371
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   4/1/2037  2,335     2,404
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/2037  1,475     1,513
4 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 3.500%   3/1/2038  1,045       999
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   4/1/2038  1,000     1,019
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.000%   8/1/2038  1,850     1,893
4 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/2042  1,445     1,447
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   4/1/2045  6,085     5,771
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   8/1/2045  4,015     3,717
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   6/1/2046  6,750     6,751
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/2048    125       110
4 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 4.000%   3/1/2048  1,000       921
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 3.000%   4/1/2050 12,820     9,321
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 3.000%   4/1/2051  4,895     3,530
2 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.250%  8/15/2052  4,500     4,610
2 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue 5.375%  8/15/2057  3,500     3,602
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue (Odd Fellows Home of California Project) 4.000%   4/1/2043  2,000     2,024
  California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue PUT 5.000%   3/1/2027  3,005     3,039
1 California Statewide Communities Development Authority Health, Hospital, Nursing Home Revenue VRDO 1.250%   3/2/2026  3,515     3,515
  California Statewide Communities Development Authority Industrial Revenue 4.500%  11/1/2033  3,135     3,359
  California Statewide Communities Development Authority Industrial Revenue 4.500%  11/1/2033  4,925     5,277
  California Statewide Communities Development Authority Intergovernmental Agreement Revenue 5.250%   9/2/2053  8,225     8,353
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 5.000%  5/15/2029  2,000     2,009
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 5.000%  5/15/2030  3,500     3,516
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 5.000%  5/15/2032  2,500     2,511
4 California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 4.000%  5/15/2034  4,055     4,263
4 California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 4.000%  5/15/2040  4,220     4,291
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 4.250%  12/1/2040  4,965     5,247
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 4.250%  12/1/2040  7,420     7,842
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 4.250%  12/1/2040  5,380     5,686
4 California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 4.000%  5/15/2041  4,385     4,428
4 California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 3.000%  5/15/2051  9,000     6,892
4 California Statewide Communities Development Authority Local or Guaranteed Housing Revenue 3.000%  5/15/2054  4,000     2,979
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue (Heritage Park Apartments Project) 3.700%   4/1/2035  1,650     1,722
  California Statewide Communities Development Authority Local or Guaranteed Housing Revenue (Vintage at Folsom Project) 4.000%  10/1/2042  1,060     1,062
  California Statewide Communities Development Authority Special Assessment Revenue 5.000%   9/2/2036    845       851
  California Statewide Communities Development Authority Special Assessment Revenue (Statewide Community Infrastructure Program) 5.375%   9/2/2052  1,990     2,046
  California Statewide Communities Development Authority Special Assessment Revenue (Statewide Community Infrastructure Program) 5.500%   9/2/2053  2,500     2,563
  California Statewide Communities Development Authority Special Tax Revenue 5.000%   9/1/2049  1,815     1,851
  California Statewide Communities Development Authority Special Tax Revenue 4.000%   9/1/2051  1,000       873
  California Statewide Communities Development Authority Special Tax Revenue 5.000%   9/1/2054    800       810
  Campbell CA GO 5.000%   9/1/2047  1,000     1,051
  Carlsbad Unified School District GO 3.000%   8/1/2046  2,000     1,642
  Carson Public Financing Authority Lease (Abatement) Revenue 5.000%   6/1/2049  7,000     7,414
4 Center Joint Unified School District GO 3.000%   8/1/2046  2,000     1,626
2,3 Centinela Valley Union High School District GO 5.000%   8/1/2034  2,000     2,396
2,3 Centinela Valley Union High School District GO 5.000%   8/1/2035    730       884
2,3 Centinela Valley Union High School District GO 5.000%   8/1/2037    790       952
2,3 Centinela Valley Union High School District GO 5.000%   8/1/2039    500       590
2 Central Unified School District GO 3.000%   8/1/2044  2,500     2,155
  Central Valley Energy Authority Natural Gas Revenue 5.000%   8/1/2034  7,230     7,949
  Central Valley Energy Authority Natural Gas Revenue PUT 5.000%   8/1/2035 11,520    12,786
  Cerritos Community College District GO 3.000%   8/1/2044 11,470     9,980
  Chaffey Community College District GO 5.500%   6/1/2049  1,000     1,114
  Chaffey Joint Union High School District GO 5.250%   8/1/2052  5,035     5,366
  Chaffey Joint Union High School District GO 4.000%   8/1/2054  9,560     9,244
  Chico Unified School District GO 3.000%   8/1/2044  1,195       994

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Chino Valley Unified School District GO 0.000%   8/1/2040  1,800     1,018
  Chino Valley Unified School District GO 0.000%   8/1/2041  2,500     1,335
  Chino Valley Unified School District GO 0.000%   8/1/2042  2,000     1,009
  Chino Valley Unified School District GO 0.000%   8/1/2043  3,590     1,704
  Chino Valley Unified School District GO 0.000%   8/1/2044  4,000     1,787
  Chino Valley Unified School District GO 5.000%   8/1/2049  3,000     3,220
  Chino Valley Unified School District GO 5.000%   8/1/2055 10,175    10,833
2 Chula Vista Elementary School District COP 2.000%   9/1/2046  5,710     3,764
2 Chula Vista Elementary School District COP 2.000%   9/1/2051  6,900     4,057
  Chula Vista Elementary School District GO 4.000%   8/1/2041  2,895     2,995
  Clovis Unified School District COP 4.000%   6/1/2048  5,975     5,818
  Clovis Unified School District GO 5.250%   8/1/2040    650       717
  Clovis Unified School District GO 5.000%   8/1/2050  6,000     6,330
6 CMFA Special Finance Agency I Local or Guaranteed Housing Revenue 3.300%   4/1/2051  4,975     3,837
2 Coast Unified School District GO 0.000%   8/1/2040  1,610       969
4 Colton Joint Unified School District GO 0.000%   8/1/2045  1,000       420
4 Colton Joint Unified School District GO 0.000%   8/1/2046  4,700     1,876
4 Colton Joint Unified School District GO 0.000%   8/1/2046  1,000       393
4 Colton Joint Unified School District GO 0.000%   8/1/2047  5,000     1,891
4 Colton Joint Unified School District GO 0.000%   8/1/2047  1,750       648
4 Colton Joint Unified School District GO 0.000%   8/1/2048  3,500     1,253
4 Colton Joint Unified School District GO 0.000%   8/1/2048  2,000       702
4 Colton Joint Unified School District GO 0.000%   8/1/2049  1,500       499
4 Colton Joint Unified School District GO 5.000%   8/1/2055 17,615    18,613
  Concord CA COP 2.125%   4/1/2041  1,500     1,151
  Contra Costa Community College District GO 3.000%   8/1/2038  1,025     1,001
  Contra Costa Community College District GO 2.000%   8/1/2039  6,000     4,985
  Corona Utility Authority Water Revenue (Water Project) 5.000%   9/1/2055  4,500     4,778
  Corona-Norco Unified School District GO 5.000%   8/1/2043    700       796
  Corona-Norco Unified School District GO 5.000%   8/1/2044    600       674
  Corona-Norco Unified School District GO 5.000%   8/1/2045    800       889
  Corona-Norco Unified School District GO 5.000%   8/1/2046    780       857
2 Cotati-Rohnert Park Unified School District GO 5.000%   8/1/2049  2,300     2,450
2 Cotati-Rohnert Park Unified School District GO 4.125%   8/1/2054  5,545     5,334
6 CSCDA Community Improvement Authority Local or Guaranteed Housing Revenue 2.650%  12/1/2046  1,890     1,623
6 CSCDA Community Improvement Authority Local or Guaranteed Housing Revenue 2.450%   2/1/2047  2,145     1,895
6 CSCDA Community Improvement Authority Local or Guaranteed Housing Revenue 3.250%   7/1/2056  5,000     3,490
6 CSCDA Community Improvement Authority Local or Guaranteed Housing Revenue 3.000%  12/1/2056  1,095       774
6 CSCDA Community Improvement Authority Local or Guaranteed Housing Revenue 3.000%   3/1/2057  1,000       696
6 CSCDA Community Improvement Authority Local or Guaranteed Housing Revenue 3.250%   4/1/2057 12,975     9,607
6 CSCDA Community Improvement Authority Local or Guaranteed Housing Revenue 3.250%   5/1/2057 12,000     8,729
  Department of Veterans Affairs Veteran's Farm & Home Purchase Program Local or Guaranteed Housing Revenue 4.600%  12/1/2037  2,110     2,242
  Department of Veterans Affairs Veteran's Farm & Home Purchase Program Local or Guaranteed Housing Revenue 4.000%  12/1/2049    310       313
  Department of Veterans Affairs Veteran's Farm & Home Purchase Program Local or Guaranteed Housing Revenue 5.500%  12/1/2052  3,645     3,874
  Desert Community College District GO 4.000%   8/1/2051 19,100    18,575
  Desert Sands Unified School District GO 4.000%   8/1/2050  2,500     2,450
  Dixon CA Special Tax Revenue 5.000%   9/1/2041    625       671
2 Downey Unified School District GO 2.000%   8/1/2042    450       327
2 Downey Unified School District GO 2.125%   8/1/2044    135        96
  Downey Unified School District GO 3.000%   8/1/2048  1,805     1,440
  Downey Unified School District GO 4.000%   8/1/2052  1,355     1,301
  East Bay Municipal Utility District Water System Water Revenue 5.000%   6/1/2042  5,000     5,123
  East County Advanced Water Purification Joint Powers Authority Water Revenue 3.125%   9/1/2026 19,920    19,947
2 East Side Union High School District GO 3.000%   8/1/2032  1,500     1,513
2 East Side Union High School District GO 3.000%   8/1/2035  5,995     6,011
  East Whittier City School District GO 4.125%   8/1/2054  2,965     2,852
  El Camino Healthcare District GO 4.000%   8/1/2034  5,000     5,052
  El Monte Union High School District GO 0.000%   6/1/2044  2,340     1,077
  El Segundo Unified School District GO 2.000%   8/1/2046    845       553
  El Segundo Unified School District GO 2.000%   8/1/2047  2,530     1,607
  El Segundo Unified School District GO 2.000%   8/1/2048    130        80
  El Segundo Unified School District GO 3.125%   8/1/2048  4,530     3,673
4 El Segundo Unified School District GO 2.125%   8/1/2050    100        62
  Elk Grove Finance Authority Special Tax Revenue 4.000%   9/1/2026  1,000     1,005
2 Elk Grove Finance Authority Special Tax Revenue 5.000%   9/1/2047  1,450     1,552
2 Elk Grove Finance Authority Special Tax Revenue 5.000%   9/1/2051  3,395     3,578
  Elk Grove Unified School District GO 2.000%   8/1/2036  6,365     5,531

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Elk Grove Unified School District GO 2.000%   8/1/2037  2,000     1,701
  Elk Grove Unified School District GO 2.000%   8/1/2038  1,250     1,032
  Elk Grove Unified School District GO 2.000%   8/1/2039  1,700     1,374
1 Elsinore Valley Municipal Water District Financing Authority Water Revenue VRDO 0.900%   3/5/2026 35,525    35,525
  Eureka Public Financing Authority Lease (Abatement) Revenue 5.000%  11/1/2042  1,040     1,177
  Eureka Public Financing Authority Lease (Abatement) Revenue 5.250%  11/1/2050  2,500     2,705
  Eureka Public Financing Authority Lease (Abatement) Revenue 5.250%  11/1/2055  4,325     4,649
2 Fairfield Community Facilities District Special Tax Revenue 4.000%   9/1/2051  3,290     3,076
  Fairfield-Suisun Unified School District GO 2.000%   8/1/2033  4,890     4,516
8 FHLMC Multifamily VRD Certificates Local or Guaranteed Housing Revenue 2.350% 12/15/2035  4,360     3,696
  Folsom Cordova Unified School District GO 4.250%  10/1/2047  1,760     1,792
  Folsom Cordova Unified School District GO 4.125%  10/1/2050  2,325     2,315
  Fontana Public Facilities Financing Authority Lease (Abatement) Revenue 5.000%  11/1/2055  7,500     7,933
  Foothill-De Anza Community College District GO 3.000%   8/1/2037  1,150     1,148
  Foothill-De Anza Community College District GO 3.000%   8/1/2038  1,000       989
  Foothill-De Anza Community College District GO 3.000%   8/1/2040  1,000       952
  Foothill-De Anza Community College District GO 3.000%   8/1/2040  1,035       989
  Foothill-Eastern Transportation Corridor Agency Highway Revenue 6.850%  1/15/2042  6,180     7,502
  Foothill-Eastern Transportation Corridor Agency Highway Revenue 3.500%  1/15/2053  6,425     5,399
8 Freddie Mac Multifamily ML Certificates Local or Guaranteed Housing Revenue 3.350% 11/25/2033  8,334     8,325
8 Freddie Mac Multifamily ML Certificates Local or Guaranteed Housing Revenue 2.875%  7/25/2036  9,702     9,228
8 Freddie Mac Multifamily ML Certificates Local or Guaranteed Housing Revenue 2.250%  9/25/2037  9,667     8,353
5,8 Freddie Mac Multifamily ML Certificates Local or Guaranteed Housing Revenue 3.541% 11/25/2038  1,207     1,176
8 Freddie Mac Pool 3.550%  11/1/2032  1,567     1,569
8 Freddie Mac Pool 3.180%   9/1/2033  8,675     8,476
8 Freddie Mac Pool 2.820%   5/1/2035    908       827
8 Freddie Mac Pool 3.600%   7/1/2040  3,934     3,767
8 Freddie Mac Pool 3.400%  11/1/2040  7,374     7,001
8 Freddie Mac Pool 3.720%   1/1/2041  1,118     1,089
8 Freddie Mac Pool 4.250%   1/1/2042 15,000    15,344
2 Fresno Joint Powers Financing Authority Lease (Abatement) Revenue (Master Lease Projects) 4.000%   4/1/2046  1,540     1,513
  Fresno Unified School District GO 2.000%   8/1/2029  2,305     2,251
  Fresno Unified School District GO 2.000%   8/1/2030  2,435     2,343
  Fresno Unified School District GO 2.000%   8/1/2031  1,565     1,489
  Fresno Unified School District GO 2.000%   8/1/2032  2,705     2,540
  Fresno Unified School District GO 4.000%   8/1/2036  1,000     1,003
  Fullerton Joint Union High School District GO 4.000%   8/1/2054  3,100     2,973
  Gilroy Public Facilities Financing Authority Lease (Non-Terminable) Revenue 3.000%   8/1/2056  6,275     4,610
  Gilroy Unified School District GO 4.000%   8/1/2033  1,155     1,160
  Glendale CA Electric Power & Light Revenue 5.000%   2/1/2038    670       671
  Glendale CA Electric Power & Light Revenue 5.000%   2/1/2047  4,880     5,162
  Glendale CA Unified School District GO 3.000%   9/1/2039  5,025     4,915
  Glendale Community College District GO 0.000%   8/1/2039  5,540     3,390
  Glendale Community College District GO 3.000%   8/1/2047  1,145       914
  Glendale Community College District GO 5.000%   8/1/2055  7,100     7,536
  Gridley Unified School District GO 5.000%   8/1/2054  1,600     1,691
2 Hacienda CA La Puente Unified School District COP 4.000%   6/1/2045  6,000     6,043
  Hacienda La Puente County CA Unified School District GO 5.000%   8/1/2047  9,025     9,540
  Hartnell CA Community College District GO 3.000%   8/1/2045  2,000     1,677
6 Hastings Campus Housing Finance Authority Local or Guaranteed Housing Revenue 5.000%   7/1/2061  7,850     7,261
  Hayward CA Sewer Revenue 4.000%   3/1/2049  5,175     5,110
  Hayward CA Sewer Revenue 4.000%   3/1/2052  3,500     3,404
  Hayward CA Sewer Revenue 4.000%   3/1/2055 22,575    21,773
  Hayward Unified School District COP 5.000%   8/1/2035    355       366
  Hayward Unified School District COP 5.000%   8/1/2037    350       360
4 Hayward Unified School District GO 5.000%   8/1/2044  9,970    10,360
4 Hayward Unified School District GO 5.000%   8/1/2046    720       789
4 Hayward Unified School District GO 5.000%   8/1/2047  2,400     2,613
4 Hayward Unified School District GO 5.000%   8/1/2050  8,655     9,295
4 Hayward Unified School District GO 5.000%   8/1/2055 21,285    22,666
2 Hemet Unified School District GO 3.000%   8/1/2037  1,790     1,773
2 Hemet Unified School District GO 3.000%   8/1/2039  2,070     2,003
  Hughson Unified School District GO 4.000%   8/1/2054  2,555     2,398
  Imperial Irrigation District Electric System Electric Power & Light Revenue 5.000%  11/1/2036    135       135
  Imperial Irrigation District Electric System Electric Power & Light Revenue 5.000%  11/1/2044  1,175     1,320
  Imperial Irrigation District Electric System Electric Power & Light Revenue 5.000%  11/1/2045    620       688
  Imperial Irrigation District Electric System Electric Power & Light Revenue 5.000%  11/1/2046  1,300     1,428
  Imperial Irrigation District Electric System Electric Power & Light Revenue 5.000%  11/1/2047  1,750     1,909
2,6 Independent Cities Finance Authority Intergovernmental Agreement Revenue 4.000%   6/1/2046  1,000       986
2,6 Independent Cities Finance Authority Intergovernmental Agreement Revenue 4.000%   6/1/2051  1,465     1,408

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
4 Inglewood Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Merged Redevelopment Project) 5.000%   5/1/2032  1,000     1,030
4 Inglewood Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Merged Redevelopment Project) 5.000%   5/1/2034  1,125     1,157
4 Inglewood Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Merged Redevelopment Project) 5.000%   5/1/2038    500       512
1 Irvine CA Special Assessment Revenue VRDO 1.250%   3/2/2026  6,751     6,751
2 Irvine CA Special Tax Revenue 5.000%   9/1/2055  5,000     5,358
2 Irvine CA Special Tax Revenue 5.000%   9/1/2060 10,000    10,722
  Irvine Facilities Financing Authority Lease (Abatement) Revenue 5.000%   5/1/2036  1,390     1,395
  Irvine Facilities Financing Authority Lease (Abatement) Revenue (Gateway Preserve Land Acquisition Project) 5.250%   5/1/2043    200       201
1 Irvine Ranch Water District Special Assessment Revenue VRDO 1.100%   3/2/2026  8,220     8,220
1 Irvine Ranch Water District Special Assessment Revenue VRDO 1.100%   3/2/2026  5,450     5,450
  Irvine Unified School District GO 2.250%   9/1/2050  3,000     1,955
  Irvine Unified School District Special Tax Revenue 4.000%   9/1/2040    350       351
4 Jurupa Public Financing Authority Special Tax Revenue 4.000%   9/1/2037    610       635
  Kaweah Delta Health Care District Guild Health, Hospital, Nursing Home Revenue 4.000%   6/1/2045  1,260     1,026
2 Lake Elsinore Facilities Financing Authority Successor Agency Special Tax Revenue 5.000%   9/1/2038  1,320     1,561
  Lammersville Joint Unified School District Special Tax Revenue 4.000%   9/1/2037    500       508
  Lammersville Joint Unified School District Special Tax Revenue 4.000%   9/1/2042    500       492
  Lammersville Joint Unified School District Special Tax Revenue 4.000%   9/1/2050  1,000       885
4 Lammersville Schools Finance Authority Lease (Abatement) Revenue 3.000%  10/1/2049  7,200     5,583
  Lancaster Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Combined Redevelopment Project) 5.000%   8/1/2029  1,010     1,023
  Lancaster Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Combined Redevelopment Project) 5.000%   8/1/2030  1,255     1,272
  Livermore Valley CA Joint Unified School District GO 4.000%   8/1/2031    230       231
  Livermore Valley CA Joint Unified School District GO 3.000%   8/1/2039  1,345     1,306
  Livermore Valley CA Joint Unified School District GO 3.000%   8/1/2040  2,135     2,008
4 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2034  1,000     1,002
2 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2034    375       377
4 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2035  1,000       999
2 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2035    520       520
4 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2036  2,100     2,064
2 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2038  1,730     1,644
2 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2040    925       852
2 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 3.000%   8/1/2042  1,980     1,784
4 Local Public Schools Funding Authority School Improvement District No. 2016-1 GO 5.000%   8/1/2054 10,040    10,495
  Lodi CA Unified School District GO 3.000%   8/1/2046 10,000     8,167
  Long Beach Bond Finance Authority Lease (Abatement) Revenue 5.000%   8/1/2046  8,205     8,842
5 Long Beach Bond Finance Authority Natural Gas Revenue, 67% of TSFR3M + 1.430% 4.052% 11/15/2026  1,800     1,807
9 Long Beach Bond Finance Authority Tax Increment/Allocation Revenue 5.500%   8/1/2026  1,380     1,396
9 Long Beach Bond Finance Authority Tax Increment/Allocation Revenue 5.500%   8/1/2031  4,715     5,299
  Long Beach CA Harbor Port, Airport & Marina Revenue 5.000%  5/15/2044  1,110     1,167
  Long Beach CA Water Revenue 4.000%   5/1/2054  5,940     5,735
  Long Beach Community College District GO 3.000%   8/1/2040  1,000       912
  Long Beach Community College District GO 3.000%   8/1/2041  2,000     1,808
  Long Beach Unified School District GO 0.000%   8/1/2026  1,870     1,845
  Long Beach Unified School District GO 3.000%   8/1/2039  2,840     2,753
  Long Beach Unified School District GO 4.000%   8/1/2053 18,340    17,697
  Los Angeles CA Community College District GO 4.000%   8/1/2038    630       631
  Los Angeles CA Community College District GO 3.000%   8/1/2039  3,020     2,980
4 Los Angeles CA Unified School District COP 2.250%  10/1/2034    560       516
  Los Angeles CA Unified School District GO 5.000%   7/1/2038    510       533
  Los Angeles CA Unified School District GO 4.000%   7/1/2040  2,765     2,886
  Los Angeles CA Unified School District GO 4.000%   7/1/2041  2,500     2,594
  Los Angeles CA Unified School District GO 5.000%   7/1/2041  1,000     1,132
  Los Angeles CA Unified School District GO 5.000%   7/1/2042  1,000     1,121
  Los Angeles CA Unified School District GO 5.250%   7/1/2042  1,875     1,956
  Los Angeles CA Unified School District GO 5.250%   7/1/2042  3,205     3,344
  Los Angeles CA Unified School District GO 2.625%   7/1/2046  1,950     1,465
  Los Angeles CA Unified School District GO 5.250%   7/1/2047    100       109
  Los Angeles CA Unified School District GO 4.000%   7/1/2049  6,415     6,337
  Los Angeles CA Unified School District GO 5.000%   7/1/2049  3,765     4,058
  Los Angeles CA Unified School District GO 5.250%   7/1/2049  3,560     3,896
  Los Angeles CA Wastewater System Sewer Revenue 5.000%   6/1/2037  2,100     2,169
  Los Angeles CA Wastewater System Sewer Revenue 5.000%   6/1/2048  5,000     5,122
6 Los Angeles CA Wastewater System Sewer Revenue TOB VRDO 1.600%   3/2/2026  4,690     4,690
1,6 Los Angeles County California Authority Multifamily Local or Guaranteed Housing Revenue TOB VRDO 1.950%   3/2/2026  2,100     2,100
  Los Angeles County Development Authority Local or Guaranteed Housing Revenue PUT 3.750%  12/1/2026  1,500     1,501

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Los Angeles County Development Authority Local or Guaranteed Housing Revenue PUT 3.350%   9/1/2029  2,800     2,850
  Los Angeles County Facilities 2 Inc. Lease (Abatement) Revenue 5.250%   6/1/2049  3,000     3,226
  Los Angeles County Facilities 2 Inc. Lease (Abatement) Revenue 5.250%   6/1/2054 16,950    17,989
  Los Angeles County Facilities 2 Inc. Lease (Abatement) Revenue 5.250%   6/1/2057  3,195     3,385
  Los Angeles County Facilities Inc. Lease (Abatement) Revenue 5.000%  12/1/2043 11,220    11,751
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   6/1/2037 10,970    11,036
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   7/1/2044  1,020     1,112
  Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue 5.000%   7/1/2045  2,955     3,181
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.000%  12/1/2040  1,130     1,215
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 4.000%  12/1/2041  2,500     2,576
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.000%  12/1/2044  4,000     4,233
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.250%  12/1/2044  2,500     2,849
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.000%  12/1/2045  2,500     2,507
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.000%  12/1/2045    620       658
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.000%  12/1/2049 14,155    15,200
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.500%  12/1/2049 11,695    13,032
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 4.000%  12/1/2053  5,930     5,613
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.250%  12/1/2053 19,250    20,726
  Los Angeles County Public Works Financing Authority Lease (Abatement) Revenue 5.500%  12/1/2054  4,000     4,410
  Los Angeles County Regional Financing Authority Lease (Abatement) Revenue 4.000%  12/1/2037  1,800     1,905
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/2038  2,150     2,321
  Los Angeles Department of Airports Port, Airport & Marina Revenue 4.000%  5/15/2039  2,000     2,105
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/2039  6,425     6,996
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/2043  2,500     2,650
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/2044  1,860     1,994
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/2044  1,300     1,477
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.000%  5/15/2045  7,500     8,053
  Los Angeles Department of Airports Port, Airport & Marina Revenue 5.250%  5/15/2055 13,510    14,646
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2028  5,640     5,989
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2029  1,500     1,631
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2030    265       294
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2030 13,205    14,508
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2031  1,090     1,233
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2032  2,060     2,369
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2032    340       368
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2032  5,175     5,950
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2032  1,515     1,742
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2033    560       572
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2033  2,400     2,773
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2033    205       239
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2033  1,550     1,807
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2033  1,000     1,166
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2033  7,820     9,116
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2033  1,000     1,166
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2034  1,965     2,045
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2034    670       684
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2034  1,020     1,182
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2034  1,805     2,109
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2034  1,000     1,178
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2034  2,500     2,945
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2035  2,015     2,318
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2035    605       649
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2036    435       461
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2036    235       258
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2037  1,865     1,930
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2037  4,000     4,175
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2037  4,245     4,474
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2037    450       496
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2037    970     1,068
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2037  9,625    11,236
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038  5,715     5,902
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038  2,500     2,646
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038      5         5
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038    375       417
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038     20        22
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038    135       154
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038  4,770     5,413
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2038 10,000    11,573
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039    885       926
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039    800       859

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039     25        27
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039    735       806
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039  4,435     4,993
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039    280       311
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039    400       447
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2039    120       135
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2040 12,940    13,841
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2040  1,180     1,321
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2040  2,895     3,297
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2041  1,330     1,428
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2041    425       465
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2041  2,290     2,536
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2041  1,200     1,337
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2042  3,350     3,416
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2042 23,395    23,686
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2042    825       867
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2042    665       723
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2042    410       453
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2042  2,845     3,194
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2043  2,360     2,621
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2044  1,215     1,319
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2044  1,620     1,781
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2045  2,205     2,272
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2045  3,595     3,870
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2045  4,000     4,322
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2045  2,530     2,754
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2045  2,850     3,103
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2046  2,945     3,090
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2046  1,535     1,641
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2046  1,655     1,788
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2047  1,040     1,097
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2047  3,850     4,115
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2047  8,960     9,639
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2048  2,655     2,798
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2048  9,675    10,257
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2050  6,610     6,948
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2051  5,370     5,539
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2051  3,000     3,152
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2052    255       264
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2052    100       104
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2053  1,425     1,480
4 Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2053  3,080     3,232
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2054  6,085     6,330
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2054    665       693
4 Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2055  2,275     2,382
  Los Angeles Department of Water & Power Electric Power & Light Revenue 5.000%   7/1/2055  3,000     3,136
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/2028    380       395
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2028    100       106
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/2029    200       211
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2029     50        54
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2029    125       136
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   1/1/2030  6,475     7,038
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2030    155       172
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2030    375       393
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2030    180       200
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2031    270       305
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2031    365       413
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2031    440       498
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2031    140       148
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2031    145       164
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2031 15,000    16,963
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2032    475       546
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2032     20        23
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2032    110       122
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2032    160       184
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2033    285       291
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2033    400       421
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2033    455       530
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2033    230       268
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2033    220       242

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2033    145       169
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2033    290       338
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2034    325       342
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2034    180       198
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2034    280       330
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2034  8,530    10,050
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2035    240       276
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2035    720       835
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2035  1,130     1,320
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2035    235       279
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2036    115       133
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2036    160       180
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2036    335       383
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2037  3,810     3,872
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2037  1,640     1,697
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2037  1,000     1,110
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2037    760       850
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2037    410       465
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2037    290       332
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2037  1,000     1,118
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2038  2,500     2,537
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2038  1,000     1,033
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2038  1,000     1,103
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2038    335       378
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2038  1,830     2,091
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2038  6,865     7,945
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2039    280       307
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2039  1,030     1,160
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2039    335       379
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2039  1,000     1,147
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2040  1,110     1,187
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2040    210       229
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2040    145       159
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2040    820       918
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2040  1,000     1,099
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2040    360       405
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2040  1,535     1,748
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2041  1,235     1,317
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2041    290       317
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2041    480       532
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2041    305       340
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2041  2,530     2,834
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2041  1,455     1,648
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2042    315       341
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2042  1,220     1,327
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2042    220       242
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2042    510       564
4 Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2042  4,485     5,054
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2043  6,790     7,008
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2043    870       939
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2043    345       376
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2043    125       135
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2043  2,305     2,525
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2043  1,435     1,579
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2044  3,865     4,213
4 Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2044  2,015     2,223
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2045    180       194
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2046    485       507
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2047    570       599
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2047  1,000     1,054
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2047    585       617
  Los Angeles Department of Water & Power Water System Water Revenue 4.000%   7/1/2049     90        86
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2049  1,145     1,200
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2049    395       408
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2050  9,140     9,391
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2052  6,415     6,639
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2052  7,000     7,245
  Los Angeles Department of Water & Power Water System Water Revenue 5.250%   7/1/2053 18,840    19,890
  Los Angeles Department of Water & Power Water System Water Revenue 5.000%   7/1/2054    930       967
  Los Angeles Housing Authority Local or Guaranteed Housing Revenue 3.750%   4/1/2034  1,700     1,753

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Los Angeles Housing Authority Local or Guaranteed Housing Revenue 4.350%  12/1/2049  4,650     4,311
  Los Angeles Housing Authority Local or Guaranteed Housing Revenue 4.400%  12/1/2054  3,000     2,822
  Los Angeles Housing Authority Local or Guaranteed Housing Revenue 4.500%  12/1/2059  2,250     2,143
  Los Angeles Housing Authority Local or Guaranteed Housing Revenue 4.550%  12/1/2061  3,000     2,930
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 4.000%  11/1/2035  1,100     1,105
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2040  1,435     1,677
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2041  1,025     1,191
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2042  5,190     5,967
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2043  6,230     7,063
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2044  9,490    10,563
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2045 10,095    11,090
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2046  6,505     7,083
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.000%   5/1/2047  5,000     5,374
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue 5.250%   5/1/2050 10,000    10,752
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue (Capital Equipment & Real Project) 5.000%  11/1/2039    100       111
  Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue (Capital Equipment & Real Project) 5.000%  11/1/2041    250       276
6 Los Angeles Municipal Improvement Corp. Lease (Abatement) Revenue TOB VRDO 1.930%   3/5/2026  6,050     6,050
  Los Rios Community College District GO 4.000%   8/1/2034  4,555     4,647
  Los Rios Community College District GO 3.000%   8/1/2035  1,450     1,461
  Los Rios Community College District GO 3.000%   8/1/2044  1,000       850
4 Manteca Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue 4.000%  10/1/2034    500       528
  Manteca Unified School District GO 5.250%   8/1/2050  7,500     8,234
  Marin Healthcare District GO 4.000%   8/1/2047  1,000       964
  Marina Joint Powers Financing Authority Local or Guaranteed Housing Revenue 3.400%   3/1/2036  4,585     4,675
2 Menifee Union School District Special Tax Revenue 4.000%   9/1/2051  3,650     3,325
  Mesa Water District COP 4.000%  3/15/2040    325       339
2 Modesto CA Water Revenue COP VRDO 1.600%   3/5/2026  7,000     7,000
  Modesto High School District GO 5.250%   8/1/2050  1,575     1,732
  Modesto High School District GO 4.000%   8/1/2052  1,290     1,244
6 Modesto Irrigation District Lease (Non-Terminable) Revenue TOB VRDO 1.910%   3/5/2026  7,500     7,500
2 Montebello Unified School District GO 5.500%   8/1/2047  3,500     3,783
  Monterey Peninsula Unified School District GO 4.000%   8/1/2042  2,100     2,171
  Moreland School District GO 3.875%   8/1/2030    915       947
4 Moreno Valley CA Unified School District GO 5.250%   8/1/2041    500       591
4 Moreno Valley CA Unified School District GO 5.250%   8/1/2042  1,360     1,588
4 Moreno Valley CA Unified School District GO 5.250%   8/1/2043  1,150     1,326
4 Moreno Valley CA Unified School District GO 5.250%   8/1/2044  1,120     1,275
4 Moreno Valley CA Unified School District GO 5.250%   8/1/2045  2,000     2,246
4 Moreno Valley CA Unified School District GO 3.000%   8/1/2050  2,000     1,557
2 Moreno Valley CA Unified School District GO 5.250%   8/1/2052  5,500     5,820
  Moreno Valley Unified School District Financing Authority Special Tax Revenue 5.000%   9/1/2033  1,605     1,655
2 Moreno Valley Unified School District Financing Authority Special Tax Revenue 5.000%   9/1/2038  1,150     1,327
2 Moreno Valley Unified School District Financing Authority Special Tax Revenue 5.000%   9/1/2039    625       717
  Morongo Unified School District GO 4.125%   8/1/2050  1,000       994
4 Moulton-Niguel Water District Public Facilities Corp. COP 3.000%   9/1/2044  2,000     1,746
  Mount San Antonio Community College District GO 5.000%   8/1/2044  2,200     2,338
  Mount San Antonio Community College District GO 2.375%   8/1/2051  5,615     3,698
  Mount San Jacinto Community College District GO 3.000%   8/1/2038  1,715     1,699
4 Mountain House Public Financing Authority Intergovernmental Agreement Revenue 4.000%  12/1/2043  2,000     2,018
4 Mountain House Public Financing Authority Intergovernmental Agreement Revenue 4.000%  12/1/2045  4,000     3,973
4 Mountain House Public Financing Authority Intergovernmental Agreement Revenue 4.000%  12/1/2050  6,290     5,967
  Mountain House Public Financing Authority Lease (Abatement) Revenue (Road Improvement Projects) 4.000%  10/1/2038    810       848
  Mountain House Public Financing Authority Lease (Abatement) Revenue (Road Improvement Projects) 4.000%  10/1/2039  1,725     1,798
  Mountain House Public Financing Authority Lease (Abatement) Revenue (Road Improvement Projects) 4.000%  10/1/2040  1,795     1,856
  Mountain House Public Financing Authority Lease (Abatement) Revenue (Road Improvement Projects) 4.000%  10/1/2041  1,710     1,755
  Mountain View Los Altos CA Union High School District GO 1.500%   8/1/2032  1,730     1,563
  M-S-R Energy Authority Natural Gas Revenue 6.500%  11/1/2039  5,805     7,264
  M-S-R Energy Authority Natural Gas Revenue 6.500%  11/1/2039  1,170     1,464
  Mt San Antonio Community College District GO 5.250%   8/1/2055  6,515     7,109
2 Natomas Unified School District GO 3.000%   8/1/2039    500       476
2 Natomas Unified School District GO 3.000%   8/1/2041  2,590     2,362
2 Natomas Unified School District GO 3.000%   8/1/2043    500       431
2 Natomas Unified School District GO 3.000%   8/1/2047  3,135     2,456
  New Hampshire Business Finance Authority Local or Guaranteed Housing Revenue 3.923%  7/20/2039  7,594     7,580
  New Haven Unified School District GO 4.000%   8/1/2036    500       513
  New Haven Unified School District GO 4.000%   8/1/2039    420       427
  New Haven Unified School District GO 3.000%   8/1/2049  1,520     1,189
  North Lake Tahoe Public Financing Authority Lease (Appropriation) Revenue 5.250%  12/1/2042  3,250     3,591
  North Lake Tahoe Public Financing Authority Lease (Appropriation) Revenue 5.500%  12/1/2047  4,425     4,833
  North Orange County CA Community College District GO 3.000%   8/1/2038  1,000       991

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  North Orange County CA Community College District GO 3.000%   8/1/2039  1,000       978
  North Orange County CA Community College District GO 3.000%   8/1/2040  1,000       942
  Northern California Energy Authority Natural Gas Revenue PUT 5.000%   8/1/2030 29,000    31,249
  Northern California Sanitation Agencies Financing Authority Intergovernmental Agreement Revenue 5.000%  12/1/2045  2,095     2,248
  Norwalk-La Mirada Unified School District GO 3.250%   8/1/2035    100       101
  Norwalk-La Mirada Unified School District GO 3.000%   8/1/2043  9,260     8,236
  Norwalk-La Mirada Unified School District GO 3.000%   8/1/2046  5,000     4,083
  Norwalk-La Mirada Unified School District GO 3.000%   8/1/2050  6,750     5,207
  Norwalk-La Mirada Unified School District GO 5.000%   8/1/2051  6,665     7,042
  Norwalk-La Mirada Unified School District GO 5.000%   8/1/2051  1,500     1,604
  Norwalk-La Mirada Unified School District GO 5.000%   8/1/2055  2,200     2,332
  Novato CA Unified School District GO 3.000%   8/1/2043  1,430     1,267
  Oakland CA GO 2.500%  1/15/2044  6,800     5,260
4 Oakland CA GO 3.000%  1/15/2050  3,000     2,310
  Ontario CA Community Facilities District No. 45 Special Tax Revenue 4.000%   9/1/2051  1,540     1,360
  Ontario CA Special Tax Revenue 5.000%   9/1/2050  1,000     1,020
  Ontario Montclair School District GO 4.000%   8/1/2048  3,050     2,957
  Ontario Public Financing Authority Lease (Abatement) Revenue 5.000%  10/1/2042    500       583
2 Ontario Public Financing Authority Lease (Abatement) Revenue 5.000%  11/1/2042    415       428
  Ontario Public Financing Authority Lease (Abatement) Revenue 5.000%  10/1/2043    350       403
  Ontario Public Financing Authority Lease (Abatement) Revenue 5.000%  11/1/2044  1,000     1,123
  Ontario Public Financing Authority Lease (Abatement) Revenue 5.000%  11/1/2050  1,500     1,605
1 Orange County Municipal Water District Water Facilities Corp. COP VRDO 1.100%   3/4/2026  1,100     1,100
  Oro Grande Elementary School District COP 4.000%  9/15/2026    810       814
  Oxnard School District BAN GO 0.000%   2/1/2031    345       301
4 Oxnard School District GO 5.000%   8/1/2045  1,500     1,524
4,6 Oxnard School District GO TOB VRDO 1.600%   3/2/2026  2,200     2,200
4 Palmdale Elementary School District GO 5.000%   8/1/2048    890       955
  Palo Alto CA COP 2.125%  11/1/2043  1,730     1,279
  Palo Alto CA COP 2.250%  11/1/2047  9,515     6,490
  Palo Alto Unified School District GO 3.250%   8/1/2042 10,150     9,773
  Palomar Health COP 4.000%  11/1/2038    685       603
  Palomar Health COP 4.000%  11/1/2047    410       308
2 Palomar Health COP 4.000%  11/1/2047    120       111
  Palomar Health GO 4.000%   8/1/2032  4,180     4,087
2 Palomar Health GO 0.000%   8/1/2033  4,100     3,144
  Palomar Health GO 4.000%   8/1/2033  4,560     4,424
  Palomar Health GO 0.000%   8/1/2034  1,050       710
  Palomar Health GO 4.000%   8/1/2034    335       322
  Palomar Health GO 5.000%   8/1/2034  1,125     1,127
  Palomar Health GO 4.000%   8/1/2035  4,270     4,058
  Palomar Health GO 0.000%   8/1/2036  5,025     3,014
  Palomar Health GO 4.000%   8/1/2036    300       281
2 Palomar Health GO 0.000%   8/1/2038    390       228
2 Palomar Health GO 7.000%   8/1/2038    205       228
10 Paramount Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Redevelopment Project Area No. 1) 0.000%   8/1/2026    950       941
  Paramount Unified School District GO 0.000%   8/1/2042  1,000       507
6 Pasadena CA GO TOB VRDO 2.000%   3/2/2026  4,320     4,320
  Pasadena Public Financing Authority Lease (Abatement) Revenue 0.000%   6/1/2044  1,850       845
  Pasadena Public Financing Authority Lease (Abatement) Revenue 0.000%   6/1/2045  1,900       816
  Pasadena Public Financing Authority Lease (Abatement) Revenue 0.000%   6/1/2046  1,675       677
  Peralta Community College District GO 3.000%   2/1/2050  1,750     1,368
  Peralta Community College District GO 5.000%   8/1/2050  1,480     1,583
  Peralta Community College District GO 5.000%   8/1/2054  5,000     5,312
4 Perris CA Union High School District (School Financing Project) COP 5.000%  10/1/2048  4,515     4,667
  Perris CA Union High School District GO 3.000%   9/1/2045  4,615     3,861
2 Pittsburg Unified School District Financing Authority Intergovernmental Agreement Revenue 5.000%   9/1/2047  5,000     5,128
  Pittsburg Unified School District GO 3.500%   8/1/2046    260       230
2 Pittsburg Unified School District GO 5.000%   8/1/2047  2,320     2,460
  Placentia-Yorba Linda Unified School District GO 3.000%   8/1/2036  2,345     2,359
  Placentia-Yorba Linda Unified School District GO 3.000%   8/1/2037  1,250     1,251
  Placentia-Yorba Linda Unified School District GO 3.000%   8/1/2038  4,100     4,066
  Placentia-Yorba Linda Unified School District GO 3.000%   8/1/2039  2,000     1,966
2 Pomona Unified School District GO 2.500%   8/1/2048  5,050     3,491
4 Pomona Unified School District GO 3.000%   8/1/2048  3,155     2,499
2 Porterville CA Water Revenue (Water System Financing Project) COP 4.000%  8/15/2045    625       629
  Poway Unified School District Public Financing Authority Special Tax Revenue 5.000%   9/1/2030  1,730     1,750
2 Poway Unified School District Special Tax Revenue 4.000%   9/1/2050  2,250     2,112
1,6 Public Finance Authority Health, Hospital, Nursing Home Revenue TOB VRDO 2.100%   3/2/2026  5,000     5,000

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Ravenswood CA City School District GO 5.000%   8/1/2043  1,165     1,173
2 Ravenswood CA City School District GO 0.000%   8/1/2050  4,750     1,457
  Redding Joint Powers Financing Authority Electric Power & Light Revenue 5.000%   6/1/2050  5,000     5,286
  Redding Joint Powers Financing Authority Electric Power & Light Revenue 5.000%   6/1/2055  6,000     6,296
  Redlands Unified School District GO 5.000%   7/1/2050 15,000    15,898
  Redlands Unified School District GO 5.000%   7/1/2054 16,535    17,420
  Redondo Beach Unified School District GO 5.250%   8/1/2055  1,375     1,486
  Redwood City Public Facilities & Infrastructure Authority Lease (Abatement) Revenue 3.000%   6/1/2041  2,230     2,063
  Redwood City Public Facilities & Infrastructure Authority Lease (Abatement) Revenue 3.000%   6/1/2046  4,000     3,264
  Redwood City Public Facilities & Infrastructure Authority Lease (Abatement) Revenue 3.000%   6/1/2051    250       193
  Rialto Public Financing Authority Lease (Abatement) Revenue (Police Station Project) 5.000%   6/1/2043    190       205
  Rialto Public Financing Authority Lease (Abatement) Revenue (Police Station Project) 5.000%   6/1/2048  2,495     2,598
  Riverside CA Electric Power & Light Revenue 5.000%  10/1/2043  2,800     2,949
  Riverside Community College District GO 3.000%   8/1/2035    530       532
  Riverside Community College District GO 3.000%   8/1/2036  2,490     2,488
  Riverside Community College District GO 3.000%   8/1/2037  1,100     1,086
  Riverside Community College District GO 3.000%   8/1/2037  1,005       993
  Riverside Community College District GO 3.000%   8/1/2040  6,050     5,642
  Riverside Community College District GO 4.000%   8/1/2054  1,335     1,287
  Riverside County Transportation Commission Highway Revenue 4.000%   6/1/2040  2,320     2,357
  Riverside County Transportation Commission Highway Revenue 0.000%   6/1/2041  6,710     3,688
  Riverside County Transportation Commission Highway Revenue 0.000%   6/1/2042  2,975     1,536
  Riverside County Transportation Commission Highway Revenue 0.000%   6/1/2043  7,500     3,631
  Riverside County Transportation Commission Highway Revenue 3.000%   6/1/2048  4,105     3,216
4 Riverside County Transportation Commission Highway Revenue 3.000%   6/1/2049  6,000     4,644
  Riverside Unified School District GO 3.000%   8/1/2036    800       799
  Riverside Unified School District GO 3.000%   8/1/2037  1,800     1,778
4 RNR School Financing Authority Special Tax Revenue 4.000%   9/1/2030  1,940     2,098
  Roseville Joint Union High School District GO 0.000%   8/1/2039  2,250     1,267
  Roseville Joint Union High School District GO 3.000%   8/1/2040  1,000       928
  Roseville Natural Gas Financing Authority Natural Gas Revenue 5.000%  2/15/2027  5,000     5,114
  Roseville Natural Gas Financing Authority Natural Gas Revenue 5.000%  2/15/2028  2,500     2,616
4 Sacramento CA City Unified School District GO 5.000%   8/1/2040  1,960     2,128
2 Sacramento CA City Unified School District GO 4.000%   8/1/2044  3,250     3,281
  Sacramento CA City Unified School District GO 4.000%   5/1/2047      5         5
4 Sacramento CA City Unified School District GO 5.500%   8/1/2047  1,820     1,941
4 Sacramento CA City Unified School District GO 5.500%   8/1/2052  9,020     9,528
  Sacramento CA Transient Occupancy Tax Hotel Occupancy Tax Revenue 5.000%   6/1/2048  3,485     3,582
  Sacramento CA Water Water Revenue 5.250%   9/1/2047  6,285     6,418
1,6,9 Sacramento City Financing Authority Lease (Abatement) Revenue TOB VRDO 1.920%   3/5/2026 34,700    34,700
10 Sacramento City Financing Authority Tax Increment/Allocation Revenue 0.000%  12/1/2030  3,000     2,639
  Sacramento County CA Airport System Port, Airport & Marina Revenue 5.000%   7/1/2038  1,330     1,401
2 San Bernardino City Unified School District GO 3.000%   8/1/2044  1,875     1,630
  San Bernardino Community College District GO 5.000%   8/1/2043  1,020     1,119
  San Bernardino Community College District GO 0.000%   8/1/2044 15,000     6,965
  San Diego Association of Governments South Bay Expressway Highway Revenue 5.000%   7/1/2042  6,130     6,282
  San Diego CA Unified School District GO 0.000%   7/1/2034  3,550     2,615
  San Diego CA Unified School District GO 5.000%   7/1/2042    845     1,045
  San Diego CA Unified School District GO 2.000%   7/1/2045  5,080     3,546
  San Diego CA Unified School District GO 3.250%   7/1/2048  1,000       837
  San Diego CA Unified School District GO 5.000%   7/1/2049  4,135     4,439
  San Diego CA Unified School District GO 3.000%   7/1/2050  5,115     3,948
  San Diego CA Unified School District GO 5.000%   7/1/2050  7,500     8,054
  San Diego CA Unified School District GO 4.000%   7/1/2053  9,050     8,733
  San Diego CA Unified School District GO 4.000%   7/1/2053 12,890    12,439
  San Diego CA Unified School District GO 4.000%   7/1/2054 11,950    11,498
  San Diego CA Unified School District GO 5.000%   7/1/2055  5,000     5,324
  San Diego Community College District GO 4.000%   8/1/2041  1,000     1,054
  San Diego Community College District GO 4.000%   8/1/2042  1,000     1,041
  San Diego Community College District GO 4.000%   8/1/2043  1,000     1,029
  San Diego Community College District GO 4.000%   8/1/2050  1,590     1,551
  San Diego Community College District GO 5.000%   8/1/2055 29,090    31,062
  San Diego County CA COP 5.000%  10/1/2048  2,840     3,029
  San Diego County Regional Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/2038  1,625     1,817
  San Diego County Regional Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/2040  2,325     2,531
  San Diego County Regional Airport Authority Port, Airport & Marina Revenue 5.000%   7/1/2044    275       289
  San Diego County Regional Airport Authority Port, Airport & Marina Revenue 4.000%   7/1/2056  2,515     2,370
  San Diego County Regional Transportation Commission Sales Tax Revenue 5.000%   4/1/2041 13,500    13,534
  San Diego County Regional Transportation Commission Sales Tax Revenue 5.000%   4/1/2045  2,860     3,049
  San Diego Housing Authority Inc. Local or Guaranteed Housing Revenue 4.200%   6/1/2040  4,175     4,298

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  San Diego Public Facilities Financing Authority Intergovernmental Agreement Revenue 5.250%   8/1/2047  6,255     6,528
  San Diego Public Facilities Financing Authority Intergovernmental Agreement Revenue 5.000%  5/15/2052  2,000     2,100
  San Diego Public Facilities Financing Authority Lease (Abatement) Revenue 5.000% 10/15/2050  1,000     1,068
  San Diego Public Facilities Financing Authority Lease (Abatement) Revenue 5.250% 10/15/2055  6,530     7,060
  San Diego Public Facilities Financing Authority Lease (Abatement) Revenue (Capital Improvement Projects) 5.000% 10/15/2043    650       718
  San Diego Public Facilities Financing Authority Lease (Abatement) Revenue (Capital Improvement Projects) 5.000% 10/15/2046  4,250     4,457
  San Diego Public Facilities Financing Authority Lease (Abatement) Revenue (Capital Improvement Projects) 5.000% 10/15/2054  2,010     2,122
6 San Diego Public Facilities Financing Authority Lease (Abatement) Revenue TOB VRDO 1.880%   3/5/2026  1,875     1,875
  San Dieguito Union High School District GO 3.000%   8/1/2038  1,000       991
  San Francisco Bay Area Rapid Transit District GO 3.000%   8/1/2037    760       757
  San Francisco Bay Area Rapid Transit District GO 2.000%   8/1/2041  3,585     2,620
  San Francisco Bay Area Rapid Transit District GO 2.000%   8/1/2046  2,575     1,690
  San Francisco Bay Area Rapid Transit District GO 3.000%   8/1/2049  6,300     4,938
  San Francisco Bay Area Rapid Transit District GO 3.000%   8/1/2050 13,720    10,610
2 San Francisco Bay Area Rapid Transit District GO 3.000%   8/1/2050 15,425    12,038
6 San Francisco Bay Area Rapid Transit District GO TOB VRDO 1.600%   3/2/2026  3,600     3,600
  San Francisco Bay Area Rapid Transit District Sales Tax Revenue 3.000%   7/1/2044 10,855     9,412
  San Francisco CA City & County (49 South Van Ness Project) COP 4.000%   4/1/2043  4,865     4,874
  San Francisco CA City & County (Animal Care & Control Project) COP 4.000%   4/1/2041  3,355     3,384
  San Francisco CA City & County (Multiple Capital Improvement Projects) COP 3.000%   4/1/2030  2,500     2,515
  San Francisco CA City & County (Multiple Capital Improvement Projects) COP 3.000%   4/1/2031  2,500     2,513
  San Francisco CA City & County (Multiple Capital Improvement Projects) COP 3.000%   4/1/2043  8,490     7,617
  San Francisco CA City & County (Multiple Capital Improvement Projects) COP 3.000%   4/1/2044  8,745     7,673
  San Francisco CA City & County (Music Concourse Garage Project) COP 4.000%   4/1/2047    700       680
  San Francisco CA City & County (Music Concourse Garage Project) COP 4.000%   4/1/2050    400       380
  San Francisco CA City & County Community Facilities District No. 2014-1 Special Tax Revenue 5.000%   9/1/2047  1,000     1,044
  San Francisco CA City & County Community Facilities District No. 2014-1 Special Tax Revenue 5.000%   9/1/2052  1,150     1,185
  San Francisco CA City & County GO 3.000%  6/15/2034  3,250     3,250
  San Francisco CA City & County GO 3.000%  6/15/2035  2,140     2,125
  San Francisco CA City & County Local or Guaranteed Housing Revenue 4.650%   8/1/2040  2,215     2,358
  San Francisco CA City & County Multifamily Housing Local or Guaranteed Housing Revenue 5.000%   2/1/2046  2,820     2,982
6 San Francisco CA City & County Multifamily Housing Local or Guaranteed Housing Revenue TOB VRDO 1.950%   3/2/2026 45,900    45,900
  San Francisco CA Public Utilities Commission Water Revenue 5.000%  11/1/2045  3,525     3,759
  San Francisco CA Public Utilities Commission Water Revenue 5.250%  11/1/2048 10,000    10,975
  San Francisco CA Public Utilities Commission Water Revenue 5.250%  11/1/2052  2,165     2,332
  San Francisco CA Public Utilities Commission Water Revenue 5.250%  11/1/2055  5,750     6,262
  San Francisco City & County Airport Commission San Francisco International Airport Port, Airport & Marina Revenue 5.000%   5/1/2045    825       924
  San Francisco City & County Airport Commission San Francisco International Airport Port, Airport & Marina Revenue 5.000%   5/1/2046  1,000     1,104
  San Francisco City & County Airport Commission-San Francisco International Airport Port, Airport & Marina Revenue 4.000%   5/1/2052 11,295    10,814
  San Francisco City & County Airport Commission-San Francisco International Airport Port, Airport & Marina Revenue 5.000%   5/1/2052  4,330     4,533
1 San Francisco City & County Airport Commission-San Francisco International Airport Port, Airport & Marina Revenue VRDO 1.150%   3/4/2026  2,500     2,500
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/2044  3,850     4,196
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/2045  2,225     2,399
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/2045  1,000     1,115
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/2046  1,500     1,603
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/2049  1,500     1,622
  San Francisco City & County Public Utilities Commission Wastewater Sewer Revenue 5.000%  10/1/2054  3,850     4,096
  San Francisco City & County Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Mission Bay South Redevelopment Project) 5.000%   8/1/2028    985       996
10 San Francisco City & County Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue (Mission Bay South Redevelopment Project) 5.000%   8/1/2041  1,750     1,762
  San Francisco Community College District GO 3.000%  6/15/2045    820       688
4 San Francisco Community College District GO 3.000%  6/15/2045  3,125     2,665
  San Francisco Community College District GO 4.000%  6/15/2045  2,300     2,296
4 San Francisco Community College District GO 5.250%  6/15/2049 19,115    20,645
  San Francisco Unified School District GO 5.000%  6/15/2038  4,000     4,362
  San Francisco Unified School District GO 3.000%  6/15/2039  4,075     3,940
  San Francisco Unified School District GO 3.000%  6/15/2040  6,500     6,123
  San Francisco Unified School District GO 5.000%  6/15/2040  3,380     3,649
2 San Jacinto Unified School District COP 5.000%   9/1/2040  1,075     1,164
6 San Jacinto Unified School District GO TOB VRDO 1.550%   3/2/2026 13,225    13,225
10 San Joaquin Hills Transportation Corridor Agency Highway Revenue 0.000%  1/15/2032    225       188
  San Jose CA GO 5.000%   9/1/2047  1,815     1,885
  San Jose CA Local or Guaranteed Housing Revenue 5.000%   9/1/2044  4,255     4,665
  San Jose Evergreen Community College District GO 3.000%   9/1/2040  3,710     3,581

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  San Jose Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue 5.000%   8/1/2035  4,100     4,244
  San Jose Unified School District GO 2.125%   8/1/2038    900       758
  San Juan Unified School District GO 2.375%   8/1/2041     15        12
  San Juan Unified School District GO 5.000%   8/1/2041  2,000     2,169
  San Leandro Unified School District GO 5.000%   8/1/2044    375       425
  San Leandro Unified School District GO 5.000%   8/1/2045    500       560
  San Leandro Unified School District GO 5.000%   8/1/2046    500       553
2,11 San Leandro Unified School District GO, 7.000% coupon rate effective 8/1/2026 0.000%   8/1/2039    825       877
  San Luis Coastal Unified School District GO 4.000%   8/1/2054  2,845     2,746
  San Marcos Unified School District GO 0.000%   8/1/2040  5,000     2,971
  San Marcos Unified School District GO 0.000%   8/1/2041  2,000     1,127
  San Marcos Unified School District GO 0.000%   8/1/2042  1,000       533
  San Marcos Unified School District GO 0.000%   8/1/2043  1,000       502
  San Mateo County Community College District GO 5.000%   9/1/2045 12,000    12,471
  San Mateo Foster City CA School District GO 4.000%   8/1/2042  1,000     1,042
  San Mateo Joint Powers Financing Authority Lease (Abatement) Revenue 3.000%  6/15/2046  1,835     1,500
  San Mateo Joint Powers Financing Authority Lease (Abatement) Revenue 2.500%  6/15/2055  5,365     3,417
  San Mateo Union High School District GO 1.875%   9/1/2032  1,655     1,541
11 San Mateo Union High School District GO, 6.875% coupon rate effective 9/1/2034 0.000%   9/1/2046  3,280     2,631
  San Rafael CA City High School District GO 3.000%   8/1/2040  1,950     1,826
  San Rafael CA City High School District GO 3.000%   8/1/2047    770       620
  San Rafael CA City High School District GO 4.000%   8/1/2053  7,100     6,762
9 San Ramon Public Financing Authority Tax Increment/Allocation Revenue 0.000%   2/1/2033  2,000     1,614
  San Ramon Valley Fire Protection District (Public Safety Complex & Fire Training Facility Projects) COP 4.000%   8/1/2045  2,500     2,505
4 San Ysidro School District GO 5.000%   8/1/2044  1,000     1,117
2 Sanger Unified School District (Capital Projects) COP 5.000%   6/1/2041  5,000     5,526
4 Sanger Unified School District GO 3.000%   8/1/2045  1,480     1,252
4 Sanger Unified School District GO 3.000%   8/1/2048  5,500     4,380
4 Sanger Unified School District GO 4.000%   8/1/2055  2,480     2,370
  Santa Ana CA Gas Tax Miscellaneous Taxes Revenue 4.000%   1/1/2039    310       316
2 Santa Ana Unified School District GO 2.000%   8/1/2046  5,755     3,727
2 Santa Ana Unified School District GO 2.125%   8/1/2050  1,000       607
  Santa Barbara CA Housing Authority Local or Guaranteed Housing Revenue 4.000%  12/1/2038    375       383
  Santa Barbara CA Housing Authority Local or Guaranteed Housing Revenue 4.000%  12/1/2038    340       347
  Santa Barbara Finance Authority Lease (Abatement) Revenue (Public Safety & Park Projects) 4.000%  5/15/2054  3,605     3,407
  Santa Barbara Finance Authority Lease (Abatement) Revenue (Public Safety & Park Projects) 4.000%  5/15/2057  1,915     1,796
  Santa Barbara Secondary High School District GO 0.000%   8/1/2040  2,310     1,329
  Santa Barbara Unified School District GO 5.000%   8/1/2044  6,725     6,981
  Santa Clara County Financing Authority Lease (Abatement) Revenue 3.000%   5/1/2038  2,765     2,710
  Santa Clara County Financing Authority Lease (Abatement) Revenue 3.000%   5/1/2038  3,000     2,952
  Santa Clara County Financing Authority Lease (Abatement) Revenue 3.000%   5/1/2039  1,000       978
  Santa Clara County Financing Authority Lease (Abatement) Revenue 3.125%   5/1/2047  4,165     3,456
  Santa Clara Unified School District GO 3.000%   7/1/2037  6,605     6,551
  Santa Clara Unified School District GO 3.250%   7/1/2044 13,190    11,897
  Santa Clarita Community College District GO 3.000%   8/1/2036    750       749
  Santa Clarita Community College District GO 3.000%   8/1/2041    950       874
  Santa Clarita Community College District GO 3.000%   8/1/2044  1,000       855
  Santa Cruz City High School District GO 4.000%   8/1/2054  5,000     4,835
  Santa Cruz County Capital Financing Authority Lease (Abatement) Revenue 4.125%   6/1/2039  4,300     4,419
  Santa Margarita-Dana Point Authority Intergovernmental Agreement Revenue 3.000%   6/1/2037    850       851
  Santa Monica Public Financing Authority Lease (Abatement) Revenue 4.000%   7/1/2039    790       798
  Santa Monica Public Financing Authority Lease (Abatement) Revenue (City Yards Project) 2.125%   7/1/2046  5,500     3,730
  Santa Monica Public Financing Authority Lease (Abatement) Revenue (City Yards Project) 2.250%   7/1/2051  6,500     4,082
3 Santa Monica-Malibu Unified School District GO 5.000%   7/1/2031  3,450     3,987
3 Santa Monica-Malibu Unified School District GO 5.000%   7/1/2032  4,635     5,469
3 Santa Monica-Malibu Unified School District GO 5.000%   7/1/2033  7,830     9,403
  Santa Monica-Malibu Unified School District GO 4.000%   7/1/2039    555       560
  Santa Monica-Malibu Unified School District GO 3.000%   8/1/2042  1,575     1,428
  Santa Paula Unified School District GO 3.000%   8/1/2049  1,330     1,002
  Santa Rosa Elementary School District GO 5.000%   8/1/2042    400       436
  Santa Rosa Elementary School District GO 5.000%   8/1/2043    600       648
2 Santa Rosa High School District GO 5.000%   8/1/2039  1,270     1,281
2 Santa Rosa High School District GO 5.000%   8/1/2043  1,000     1,006
  Sequoia Union High School District GO 2.375%   7/1/2032  1,060     1,027
  Shasta-Tehama-Trinity Joint Community College District GO 3.000%   8/1/2042  4,770     4,296
  Sierra View CA Local Health Care District Health, Hospital, Nursing Home Revenue 3.000%   7/1/2032  2,340     2,252
  Sierra View CA Local Health Care District Health, Hospital, Nursing Home Revenue 3.000%   7/1/2034  2,485     2,357
  Sonoma County Junior College District GO 3.000%   8/1/2037  7,285     7,209
  Sonoma County Junior College District GO 3.000%   8/1/2039  4,000     3,790
2 South Bayside Waste Management Authority Resource Recovery Revenue 5.000%   9/1/2042  1,260     1,333

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
2 South Bayside Waste Management Authority Resource Recovery Revenue, ETM 5.000%   9/1/2042     40        43
  South Coast Water District Financing Authority Intergovernmental Agreement Revenue 4.000%   2/1/2036    350       362
  South Coast Water District Financing Authority Intergovernmental Agreement Revenue 4.000%   2/1/2037    250       258
  South Coast Water District Financing Authority Intergovernmental Agreement Revenue 3.000%   2/1/2038  1,080     1,076
  South Coast Water District Financing Authority Intergovernmental Agreement Revenue 3.000%   2/1/2039  1,110     1,089
  South Coast Water District Financing Authority Intergovernmental Agreement Revenue 3.000%   2/1/2040  1,105     1,049
  South Coast Water District Financing Authority Intergovernmental Agreement Revenue 2.500%   2/1/2050  4,920     3,337
  South Orange County Public Financing Authority Lease (Abatement) Revenue 5.000%   6/1/2052  8,765     9,164
  Southern California Metropolitan Water District Water Revenue 5.000%   7/1/2039    600       662
  Southern California Metropolitan Water District Water Revenue VRDO 1.250%   3/5/2026  6,000     6,000
  Southern California Public Power Authority Electric Power & Light Revenue 5.000%   7/1/2036  1,340     1,534
  Southern California Public Power Authority Electric Power & Light Revenue (Clean Energy Project) PUT 5.000%   9/1/2030 15,100    16,246
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/2042  3,500     3,853
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/2042  1,800     1,981
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/2043  6,500     7,085
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/2048  1,945     2,050
  Southern California Public Power Authority Electric Power & Light Revenue (Southern Transmission System Renewal Project) 5.250%   7/1/2053  5,470     5,775
  Southern California Public Power Authority Electric Power & Light Revenue (Windy Point/Windy Flats Project) 5.000%   7/1/2029    135       147
  Southern California Public Power Authority Intergovernmental Agreement Revenue 5.000%   7/1/2046  1,550     1,663
4 Southern California Public Power Authority Intergovernmental Agreement Revenue 5.250%   7/1/2050  3,805     4,102
  Southern California Public Power Authority Intergovernmental Agreement Revenue (Canyon Power Project) PUT 3.700%   7/1/2027  1,000     1,006
  Southern California Public Power Authority Intergovernmental Agreement Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/2044    210       229
  Southern California Public Power Authority Intergovernmental Agreement Revenue (Southern Transmission System Renewal Project) 5.000%   7/1/2049  1,000     1,053
  Southern California Public Power Authority Intergovernmental Agreement Revenue PUT 5.000%   7/1/2029  2,085     2,216
  Southern California Public Power Authority Natural Gas Revenue (Magnolia Power Project A-20) VRDO 1.450%   3/2/2026 58,890    58,890
  Southern California Public Power Authority Natural Gas Revenue (Project No. 1) 5.000%  11/1/2028  1,645     1,740
  Southwestern Community College District GO 3.000%   8/1/2039    900       876
  Southwestern Community College District GO 3.000%   8/1/2040  1,250     1,181
  Southwestern Community College District GO 3.000%   8/1/2040  2,500     2,362
  Southwestern Community College District GO 3.000%   8/1/2041  3,560     3,302
  Stanislaus County Modesto Elementary School District GO 3.000%   8/1/2039    280       271
  Stanislaus County Modesto Elementary School District GO 3.000%   8/1/2046  1,860     1,519
  Stanislaus County Modesto Elementary School District GO 3.000%   8/1/2046  4,300     3,512
  Stanislaus County Modesto Elementary School District GO 3.000%   8/1/2050  1,915     1,477
  Stanislaus County Modesto Elementary School District GO 5.000%   8/1/2052  1,580     1,653
  State Center Community College District GO 3.000%   8/1/2040  4,660     4,346
  Stockton Community Facilities District Special Tax Revenue 5.000%   9/1/2049    525       526
4 Stockton Unified School District GO 2.500%   8/1/2035  1,025       954
2 Stockton Unified School District GO 4.000%   8/1/2038  1,625     1,708
2 Stockton Unified School District GO 4.000%   8/1/2040  1,035     1,073
2 Stockton Unified School District GO 4.000%   8/1/2045  5,000     5,016
4,6 Stockton Unified School District GO TOB VRDO 2.000%   3/2/2026  2,200     2,200
  Sunnyvale Financing Authority Intergovernmental Agreement Revenue 5.000%  11/1/2044  1,000     1,124
  Sunnyvale Financing Authority Intergovernmental Agreement Revenue 5.000%  11/1/2045  1,500     1,667
  Sunnyvale Financing Authority Lease (Abatement) Revenue (Civic Center Project) 2.500%   4/1/2052  3,620     2,422
  Sunnyvale School District GO 4.000%   9/1/2036    250       261
  Sunnyvale School District GO 4.000%   9/1/2037    270       280
2 Sweetwater Union High School District GO 0.000%   8/1/2039  1,355       754
2 Sweetwater Union High School District GO 0.000%   8/1/2040  3,005     1,566
2 Sweetwater Union High School District GO 0.000%   8/1/2041  4,000     1,956
2 Sweetwater Union High School District GO 0.000%   8/1/2042  4,000     1,839
2 Sweetwater Union High School District GO 0.000%   8/1/2043  4,000     1,721
2 Sweetwater Union High School District GO 0.000%   8/1/2044  3,500     1,408
2 Sweetwater Union High School District GO 0.000%   8/1/2045  4,975     1,876
2 Sweetwater Union High School District GO 0.000%   8/1/2046  1,165       412
  Sweetwater Union High School District GO 5.000%   8/1/2052 13,435    13,969
2 Temecula Redevelopment Agency Successor Agency Tax Increment/Allocation Revenue 5.000% 12/15/2038  3,115     3,222
  Tobacco Securitization Authority of Southern California Tobacco Settlement Funded Revenue 5.000%   6/1/2029  1,000     1,074
  Tobacco Securitization Authority of Southern California Tobacco Settlement Funded Revenue 5.000%   6/1/2035    335       359
  Tobacco Securitization Authority of Southern California Tobacco Settlement Funded Revenue 5.000%   6/1/2039  1,000     1,057
  Tobacco Securitization Authority of Southern California Tobacco Settlement Funded Revenue 5.000%   6/1/2048    135       135
  Tracy CA Community Facilities District Special Tax Revenue 5.750%   9/1/2048  1,700     1,805
  Tracy CA Community Facilities District Special Tax Revenue 5.875%   9/1/2053  2,700     2,865

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Transbay Joint Powers Authority Tax Increment/Allocation Revenue 5.000%  10/1/2036    800       836
  Transbay Joint Powers Authority Tax Increment/Allocation Revenue 5.000%  10/1/2045  2,000     2,025
4 Tulare Local Health Care District GO 4.000%   8/1/2039  3,275     3,320
10 Tulare Union High School District GO 0.000%   8/1/2028  1,250     1,176
  Turlock Irrigation District Electric Power & Light Revenue 5.000%   1/1/2044    285       300
  Turlock Public Financing Authority Lease (Abatement) Revenue 5.000%   4/1/2045    475       501
2 Twin Rivers Unified School District GO 0.000%   8/1/2036  1,850     1,210
  Union Sanitary District Financing Authority Intergovernmental Agreement Revenue 4.000%   9/1/2040    190       197
  United Water Conservation District COP 4.000%  10/1/2045  1,635     1,640
  University of California College & University Revenue 5.000%  5/15/2035    790       959
  University of California College & University Revenue 5.000%  5/15/2036 15,800    19,338
  University of California College & University Revenue 4.000%  5/15/2037    570       571
  University of California College & University Revenue 5.000%  5/15/2037 10,000    11,906
3 University of California College & University Revenue 5.000% 11/15/2037  5,000     6,014
  University of California College & University Revenue 5.000%  5/15/2038  2,000     2,322
  University of California College & University Revenue 5.000%  5/15/2038  3,000     3,535
  University of California College & University Revenue 5.000%  5/15/2038  4,370     5,150
  University of California College & University Revenue 5.000%  5/15/2038  2,000     2,357
3 University of California College & University Revenue 5.000% 11/15/2038  7,500     8,926
  University of California College & University Revenue 5.000%  5/15/2039  9,670    11,273
  University of California College & University Revenue 5.000%  5/15/2039 24,095    28,089
  University of California College & University Revenue 5.000%  5/15/2039  3,800     4,430
3 University of California College & University Revenue 5.000% 11/15/2039  9,785    11,996
  University of California College & University Revenue 5.000%  5/15/2040 23,115    26,834
  University of California College & University Revenue 5.000%  5/15/2040  3,250     3,773
  University of California College & University Revenue 5.000%  5/15/2040  3,690     4,284
  University of California College & University Revenue 5.000%  5/15/2040  4,000     4,674
  University of California College & University Revenue 5.250%  5/15/2040  7,705     9,804
  University of California College & University Revenue 5.500%  5/15/2040  8,000     9,720
3 University of California College & University Revenue 5.000% 11/15/2040 12,000    14,041
3 University of California College & University Revenue 5.000% 11/15/2041  3,070     3,568
  University of California College & University Revenue 5.000%  5/15/2042  1,270     1,359
3 University of California College & University Revenue 5.000% 11/15/2042  2,110     2,435
  University of California College & University Revenue 5.000%  5/15/2043  2,175     2,457
3 University of California College & University Revenue 5.000% 11/15/2043  1,305     1,489
  University of California College & University Revenue 5.000%  5/15/2044  1,505     1,681
3 University of California College & University Revenue 5.000% 11/15/2044    665       750
  University of California College & University Revenue 5.000%  5/15/2045  1,265     1,396
3 University of California College & University Revenue 5.000% 11/15/2045    630       701
3 University of California College & University Revenue 5.000% 11/15/2045    285       317
  University of California College & University Revenue 5.000%  5/15/2046  3,000     3,005
  University of California College & University Revenue 5.000%  5/15/2046  3,490     3,811
3 University of California College & University Revenue 5.000% 11/15/2046    310       341
  University of California College & University Revenue 5.000%  5/15/2047    430       466
  University of California College & University Revenue 5.000%  5/15/2052 23,340    24,452
  University of California College & University Revenue 5.000%  5/15/2053 30,865    32,894
  University of California College & University Revenue 4.000%  5/15/2055  2,720     2,611
  University of California College & University Revenue (Limited Project) 5.000%  5/15/2042 27,405    28,085
12 University of California College & University Revenue (Limited Project) 5.000%  5/15/2046 30,485    32,190
  University of California College & University Revenue VRDO 1.250%   3/2/2026  8,825     8,825
  University of California College & University Revenue VRDO 1.350%   3/2/2026  3,070     3,070
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 5.000%  5/15/2035  4,340     4,364
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 5.000%  5/15/2040  3,000     3,369
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 5.000%  5/15/2041  5,200     5,222
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 5.000%  5/15/2041  2,000     2,232
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 3.000%  5/15/2042    440       386
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 5.000%  5/15/2042  3,500     3,881
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 5.000%  5/15/2047 13,720    14,585
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 4.000%  5/15/2053 22,735    21,410
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue 3.500%  5/15/2054 15,000    12,513
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue VRDO 1.400%   3/2/2026 12,695    12,695
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue VRDO 1.400%   3/2/2026  3,540     3,540
  University of California Regents Medical Center Pooled Health, Hospital, Nursing Home Revenue VRDO 1.400%   3/2/2026  4,090     4,090
  Upland CA COP 4.000%   1/1/2042  5,635     5,378
2 Val Verde Unified School District GO 4.000%   8/1/2048  4,900     4,743
2 Val Verde Unified School District GO 4.000%   8/1/2049  5,000     4,803
  Vallecitos Water District COP 2.250%   8/1/2046  2,140     1,488
  Vallejo City Unified School District GO 5.000%   8/1/2041  1,485     1,625
  Ventura Unified School District GO 4.000%   8/1/2041  2,855     2,961
  Ventura Unified School District GO 4.000%   8/1/2052 11,230    10,779

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
  Vernon CA Electric System Electric Power & Light Revenue 5.000%   8/1/2032    865       939
  Vernon CA Electric System Electric Power & Light Revenue 5.000%   8/1/2036    750       803
  Washington Township Health Care District GO 5.000%   8/1/2043    250       250
  Washington Township Health Care District GO 5.000%   8/1/2043    500       500
  Washington Township Health Care District GO 5.500%   8/1/2053    750       815
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.000%   7/1/2026  1,340     1,349
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.000%   7/1/2028  1,230     1,292
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.000%   7/1/2031    500       525
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 4.000%   7/1/2033  1,080     1,112
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.000%   7/1/2033  1,080     1,099
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 3.000%   7/1/2034  1,770     1,703
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 3.125%   7/1/2035    105        99
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 4.000%   7/1/2035  2,220     2,217
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.000%   7/1/2036    500       518
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 4.000%   7/1/2037  1,240     1,216
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 3.000%   7/1/2038  1,000       902
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 4.000%   7/1/2048    750       629
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.750%   7/1/2048  2,860     3,048
  Washington Township Health Care District Health, Hospital, Nursing Home Revenue 5.750%   7/1/2053  2,025     2,120
2 West Contra Costa Unified School District GO 3.000%   8/1/2035    850       856
2 West Contra Costa Unified School District GO 3.000%   8/1/2036  1,000     1,001
2 West Contra Costa Unified School District GO 3.000%   8/1/2037  1,400     1,396
4 West Contra Costa Unified School District GO 5.000%   8/1/2039  1,000     1,163
4 West Contra Costa Unified School District GO 5.000%   8/1/2039  1,400     1,629
2 West Contra Costa Unified School District GO 3.000%   8/1/2051  2,010     1,535
4 West Contra Costa Unified School District GO 4.000%   8/1/2054  2,070     1,923
  West Sonoma County Union High School District GO 5.000%   8/1/2043    780       813
4 Western Placer Unified School District GO 5.000%   8/1/2042  6,350     6,517
                           6,025,960
Guam (0.0%)
  Guam Government Waterworks Authority Water Revenue 5.000%   7/1/2039    700       771
  Guam Power Authority Electric Power & Light Revenue 5.000%  10/1/2044    125       131
                                 902
Ohio (0.1%)
8 Freddie Mac Pool 4.250%   9/1/2041  5,475     5,582
Puerto Rico (1.2%)
  Commonwealth of Puerto Rico GO 5.625%   7/1/2027 12,416    12,705
  Commonwealth of Puerto Rico GO 5.625%   7/1/2029  6,964     7,438
  Commonwealth of Puerto Rico GO 5.750%   7/1/2031 10,704    11,888
  Commonwealth of Puerto Rico GO 0.000%   7/1/2033 10,000     7,393
  Commonwealth of Puerto Rico GO 4.000%   7/1/2033  4,029     4,123
  Commonwealth of Puerto Rico GO 4.000%   7/1/2035  7,973     8,103
  Commonwealth of Puerto Rico GO 4.000%   7/1/2041  1,092     1,058
  Commonwealth of Puerto Rico GO 4.000%   7/1/2046  3,103     2,798
6 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/2033    500       530
6 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/2033    970     1,035
6 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/2035    610       637
6 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/2037    250       261
6 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 5.000%   7/1/2037    155       163
6 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 4.000%   7/1/2042  4,390     4,258
6 Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue 4.000%   7/1/2042  2,380     2,309
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/2029  1,230     1,108
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/2031  2,773     2,331
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 0.000%   7/1/2033  1,264       981
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 4.500%   7/1/2034    559       559
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 4.329%   7/1/2040  2,500     2,504
  Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue 4.329%   7/1/2040  1,541     1,544
                              73,726
Total Tax-Exempt Municipal Bonds (Cost $6,039,013) 6,106,170

    Coupon Maturity
Date
Face
Amount
($000)
Market
Value
($000)
Taxable Municipal Bonds (0.1%)
Puerto Rico (0.1%)
  Commonwealth of Puerto Rico CVI 0.000%  11/1/2043  8,671     5,918
  Commonwealth of Puerto Rico CVI 0.000%  11/1/2051  3,317     2,297
Total Taxable Municipal Bonds (Cost $7,321) 8,215
Total Investments (100.8%) (Cost $6,046,334) 6,114,385
Other Assets and Liabilities—Net (-0.8%) (51,014)
Net Assets (100%) 6,063,371
Cost is in $000.
1 Scheduled principal and interest payments are guaranteed by bank letter of credit.
2 Scheduled principal and interest payments are guaranteed by Assured Guaranty Inc.
3 Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of February 28, 2026.
4 Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co.
5 Variable-rate security; rate shown is effective rate at period end. Certain variable-rate securities are not based on a published reference rate and spread but are determined by the issuer or agent based on current market conditions.
6 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 February 28, 2026, the aggregate value was $412,206, representing 6.8% of net assets.
7 Scheduled principal and interest payments are guaranteed by Federal Housing Authority.
8 The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock.
9 Scheduled principal and interest payments are guaranteed by Ambac Assurance Corp.
10 Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp.
11 Step bond.
12 Securities with a value of $2,097 have been segregated as initial margin for open futures contracts.
  BAN—Bond Anticipation Note.
  COP—Certificate of Participation.
  CVI—Contingent Value Instruments.
  ETM—Escrowed to Maturity.
  GO—General Obligation Bond.
  Prere.—Prerefunded.
  PUT—Put Option Obligation.
  SIFMA—Securities Industry and Financial Markets Association.
  TOB—Tender Option Bond.
  TSFR3M—CME Term Secured Overnight Financing Rate 3-Month.
  VRDO—Variable Rate Demand Obligation.


Derivative Financial Instruments Outstanding as of Period End

Futures Contracts
      ($000)
  Expiration Number of
Long (Short)
Contracts
Notional
Amount
Value and
Unrealized
Appreciation
(Depreciation)
Long Futures Contracts        
Ultra 10-Year U.S. Treasury Note June 2026 426 49,729 504
 
Short Futures Contracts        
Ultra Long U.S. Treasury Bond June 2026 (154) (18,725) (183)
        321
                 
Over-the-Counter Swaps - Municipal Market Data Rate Locks    
Termination
Date
Counterparty Notional
Amount
($000)
Buy/Sell Reference
Index
Strike
Rate
Value
($000)
Unrealized
Appreciation
($000)
Unrealized
(Depreciation)
($000)
3/11/2026 JPMC 4,500 Buy 30-Year MMD AAA General Obligation Scale 4.340% (149) (149)
3/17/2026 JPMC 6,000 Buy 30-Year MMD AAA General Obligation Scale 4.340% (192) (192)
3/17/2026 MSBNA 500 Buy 30-Year MMD AAA General Obligation Scale 4.260% (8) (8)
4/30/2026 MSBNA 8,000 Buy 15-Year MMD AAA General Obligation Scale 4.050% 857 857
5/6/2026 MSBNA 850 Buy 10-Year MMD AAA General Obligation Scale 3.640% 82 82
5/19/2026 MSBNA 1,368 Buy 15-Year MMD AAA General Obligation Scale 4.060% 144 144
8/13/2026 RBC 5,000 Buy 30-Year MMD AAA General Obligation Scale 4.760% 456 456
8/18/2026 RBC 1,170 Buy 30-Year MMD AAA General Obligation Scale 4.770% 108 108
8/20/2026 RBC 3,070 Buy 5-Year MMD AAA General Obligation Scale 2.790% 57 57
8/20/2026 MSBNA 1,720 Buy 5-Year MMD AAA General Obligation Scale 2.840% 36 36
10/30/2026 JPMC 4,000 Buy 20-Year MMD AAA General Obligation Scale 4.040% 26 26
11/2/2026 JPMC 4,000 Buy 20-Year MMD AAA General Obligation Scale 4.060% 36 36
            1,453 1,802 (349)
  JPMC—JPMorgan Chase Bank, N.A.
  MSBNA—Morgan Stanley Bank, N.A.
  RBC—Royal Bank of Canada.
At February 28, 2026, the counterparties had deposited in segregated accounts securities with a value of $1,793 in connection with open over-the-counter municipal market rate lock contracts.
A. 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 other temporary cash investments 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. 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 valuation designee to represent fair value and subject to oversight by the board of trustees.
B. 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. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.
Futures contracts are valued at their quoted daily settlement prices. Fluctuations in the value of the contracts are recorded as an asset (liability).
C. MMD Rate Locks: The fund enters into Municipal Market Data (MMD) Rate Lock contracts to lock in a specified municipal interest rate for a portion of the fund to preserve a return on a particular investment or a portion of the fund as a duration management technique or to protect against market interest rate risk for anticipated purchase of municipal bonds. Under the terms of the contracts, both parties agree to make payments to each other on a notional amount, contingent upon whether the reference index rate is above or below a strike rate on the termination date of the contract. The fund

may buy (long) an MMD Rate Lock and if the referenced MMD AAA Index is below the strike rate on the termination date, the counterparty will make a payment to the fund. If the MMD AAA Index is above the strike rate on the termination date, the fund will make a payment to the counterparty. The fund may also sell (short) an MMD Rate Lock. The contract terms of a short position will move in the opposite direction as a long position.
The primary risk associated with MMD Rate Locks is that municipal yields will move in the opposite direction than anticipated by a fund, which would cause the fund to make payments to its counterparty in the transaction that could adversely affect the fund’s performance. A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund’s maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty’s default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund’s net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.
MMD Rate Locks are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded as an asset (liability) and as unrealized appreciation (depreciation) until the contracts are terminated, at which time realized gain (loss) is recorded.
D. Various inputs may be used to determine the value of the fund’s investments and derivatives. 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). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.
The following table summarizes the market value of the fund’s investments and derivatives as of February 28, 2026, based on the inputs used to value them:
  Level 1
($000)
Level 2
($000)
Level 3
($000)
Total
($000)
Investments        
Assets        
Tax-Exempt Municipal Bonds 6,106,170 6,106,170
Taxable Municipal Bonds 8,215 8,215
Total 6,114,385 6,114,385
Derivative Financial Instruments        
Assets        
Futures Contracts1 504 504
Swap Contracts 1,802 1,802
Total 504 1,802 2,306
Liabilities        
Futures Contracts1 (183) (183)
Swap Contracts (349) (349)
Total (183) (349) (532)
1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments.