American Century Investments®
Quarterly Portfolio Holdings
California High-Yield Municipal Fund
May 31, 2026


California High-Yield Municipal Fund - Schedule of Investments
MAY 31, 2026 (UNAUDITED) 

Principal
Amount ($)/Shares
Value ($)
MUNICIPAL SECURITIES — 99.2%
 
 
California — 96.3%
 
 
Alameda Community Facilities District Special Tax, (City of Alameda CA Community Facilities District No. 22-1), 5.00%, 9/1/48
750,000 761,631 
Alameda Community Facilities District Special Tax, (City of Alameda CA Community Facilities District No. 22-1), 5.00%, 9/1/53
1,175,000 1,185,762 
Alameda Corridor Transportation Authority Rev., Capital Appreciation, VRN, 0.00%, 10/1/52 (AG)
12,000,000 7,002,872 
Alameda Corridor Transportation Authority Rev., 5.00%, 10/1/36
2,700,000 2,713,678 
Alameda County Fire Department GO, 5.25%, 6/1/55
2,500,000 2,687,243 
Antelope Valley Healthcare District Rev., (Antelope Valley Healthcare District Obligated Group), 5.00%, 3/1/46
5,000,000 4,694,726 
Bay Area Toll Authority Rev., 4.125%, 4/1/54
3,750,000 3,569,342 
Bay Area Toll Authority Rev., VRDN, 2.35%, 6/1/26 (LOC: Barclays Bank PLC)
1,500,000 1,500,000 
Bay Area Toll Authority Rev., VRDN, 2.35%, 6/1/26 (LOC: Bank of America N.A.)
1,800,000 1,800,000 
Beaumont Special Tax, (City of Beaumont CA Community Facilities District No 93-1 Area No. 8C), 5.00%, 9/1/43
1,605,000 1,634,346 
Beaumont Special Tax, (City of Beaumont CA Community Facilities District No. 93-1 Improvement Area 8F), 4.00%, 9/1/45
1,510,000 1,382,527 
Beaumont Special Tax, (City of Beaumont CA Community Facilities District No. 93-1 Improvement Area 8F), 4.00%, 9/1/50
1,500,000 1,312,841 
Burbank-Glendale-Pasadena Airport Authority Brick Campaign Rev., 4.375%, 7/1/56 (AG)
1,750,000 1,747,138 
California Community Choice Financing Authority Rev., 5.00%, 11/1/33 (GA: Canadian Imperial Bank)
20,000,000 21,635,748 
California Community Choice Financing Authority Rev., 5.25%, 2/1/36 (GA: Realty Income Corp.)
15,000,000 16,371,108 
California Community Choice Financing Authority Rev., VRN, 5.00%, 12/1/53 (GA: Goldman Sachs Group, Inc.)
3,000,000 3,133,240 
California Community Choice Financing Authority Rev., VRN, 5.00%, 2/1/54 (GA: Morgan Stanley)
2,600,000 2,745,988 
California Community Choice Financing Authority Rev., VRN, 5.00%, 5/1/54 (GA: Morgan Stanley)
7,475,000 7,931,865 
California Community Choice Financing Authority Rev., VRN, 5.50%, 10/1/54 (GA: National Bank of Canada)
2,305,000 2,507,127 
California Community Choice Financing Authority Rev., VRN, 5.25%, 11/1/54 (GA: Goldman Sachs Group, Inc.)
10,000,000 10,570,441 
California Community Choice Financing Authority Rev., VRN, 5.00%, 2/1/55 (GA: Royal Bank of Canada)
5,005,000 5,422,142 
California Community Choice Financing Authority Rev., VRN, 5.00%, 2/1/55 (GA: Pacific Life Insurance Co.)
8,670,000 9,234,491 
California Community Choice Financing Authority Rev., VRN, 5.00%, 8/1/55 (GA: American General Life)
2,500,000 2,607,208 
California Community Choice Financing Authority Rev., VRN, 5.00%, 12/1/55 (GA: American General Life)
5,000,000 5,224,171 
California Community Choice Financing Authority Rev., VRN, 5.00%, 1/1/56 (GA: New York Life Insurance Co.)
5,445,000 5,902,944 
California Community Choice Financing Authority Rev., VRN, 5.00%, 4/1/56 (GA: Morgan Stanley)
4,000,000 4,322,677 
California Community Choice Financing Authority Rev., VRN, 5.00%, 10/1/56 (GA: Bank Of Nova Scotia TR)
8,650,000 9,357,402 
California Community College Financing Authority Rev., (NCCD-Orange Coast Properties LLC), 5.25%, 5/1/43
3,200,000 3,253,023 
California Community College Financing Authority Rev., (NCCD-Orange Coast Properties LLC), 5.25%, 5/1/48
4,500,000 4,538,164 
California Community Housing Agency Rev., (California Community Housing Agency Fountains at Emerald Park), 4.00%, 8/1/46(1)
3,060,000 2,674,135 
California Community Housing Agency Rev., (California Community Housing Agency Verdant at Green Valley Apartments), 5.00%, 8/1/49(1)
2,640,000 2,468,724 
California County Tobacco Securitization Agency Rev., (Alameda County Tobacco Securitization Corp.), 0.00%, 6/1/50(2)
22,520,000 5,250,308 
California County Tobacco Securitization Agency Rev., (Los Angeles County Securitization Corp.), 4.00%, 6/1/49750,000 674,232 
California County Tobacco Securitization Agency Rev., (Los Angeles County Securitization Corp.), Capital Appreciation, 0.00%, 6/1/55(2)
5,020,000 837,821 
California Educational Facilities Authority Rev., (Santa Clara University), 5.00%, 4/1/441,275,000 1,397,333 
California Educational Facilities Authority Rev., (Santa Clara University), 5.00%, 4/1/451,150,000 1,247,363 
California Educational Facilities Authority Rev., (University of Southern California), 5.00%, 10/1/554,000,000 4,219,379 
California Educational Facilities Authority Rev., (University of the Pacific), 5.00%, 11/1/554,000,000 4,162,680 
California Enterprise Development Authority Rev., (Academy For Academic Excellence CA), 5.00%, 7/1/40(1)
500,000 500,992 
California Enterprise Development Authority Rev., (Academy For Academic Excellence CA), 5.00%, 7/1/50(1)
500,000 474,735 
California Enterprise Development Authority Rev., (Academy For Academic Excellence CA), 5.00%, 7/1/55(1)
350,000 325,137 
California Enterprise Development Authority Rev., (Castilleja School Foundation), 5.00%, 6/1/492,800,000 2,923,604 


California Enterprise Development Authority Rev., (Castilleja School Foundation), 4.00%, 6/1/542,500,000 2,290,235 
California Enterprise Development Authority Rev., (Provident Group-Pomona Properties LLC), 5.00%, 1/15/451,000,000 1,019,682 
California Enterprise Development Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/44(1)
1,315,000 1,332,961 
California Enterprise Development Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/54(1)
2,500,000 2,399,103 
California Health Facilities Financing Authority Rev., (Cedars-Sinai Medical Center Obligated Group), 4.00%, 8/15/485,000,000 4,770,078 
California Health Facilities Financing Authority Rev., (CommonSpirit Health Obligated Group), 4.00%, 4/1/30, Prerefunded at 100% of Par(3)
330,000 348,922 
California Health Facilities Financing Authority Rev., (CommonSpirit Health Obligated Group), 4.00%, 4/1/499,380,000 8,555,340 
California Health Facilities Financing Authority Rev., (CommonSpirit Health Obligated Group), 5.00%, 12/1/544,750,000 4,884,321 
California Health Facilities Financing Authority Rev., (Scripps Health Obligated Group), 5.00%, 11/15/435,000,000 5,487,612 
California Health Facilities Financing Authority Rev., (Scripps Health Obligated Group), 5.00%, 11/15/44950,000 1,034,459 
California Health Facilities Financing Authority Rev., (Stanford Health Care Obligated Group), 5.25%, 8/15/545,000,000 5,378,312 
California Housing Finance Agency Rev., 4.25%, 1/15/352,750,989 2,851,130 
California Housing Finance Agency Rev., 3.50%, 11/20/3514,717,659 14,615,617 
California Housing Finance Agency Rev., (AH Housing Preservation LP), 4.10%, 9/1/40 (FNMA)10,000,000 10,064,887 
California Housing Finance Agency Rev., (SV Housing Preservation LP), 4.10%, 7/1/40 (FHLMC)3,330,000 3,333,503 
California Infrastructure & Economic Development Bank Rev., 4.00%, 10/1/4210,000,000 10,216,030 
California Infrastructure & Economic Development Bank Rev., (California Science Center Foundation), 4.00%, 5/1/514,000,000 3,690,310 
California Infrastructure & Economic Development Bank Rev., (Desertxpress Enterprises LLC), VRN, 12.00%, 1/1/65(1)
8,655,000 4,846,800 
California Infrastructure & Economic Development Bank Rev., (Equitable School Revolving Fund LLC Obligated Group), 5.00%, 11/1/491,500,000 1,540,290 
California Infrastructure & Economic Development Bank Rev., (University of California), 5.00%, 5/15/505,000,000 5,275,624 
California Municipal Finance Authority COP, (Palomar Health Obligated Group), 5.25%, 11/1/52 (AG)2,335,000 2,353,360 
California Municipal Finance Authority Rev., 4.00%, 12/1/431,000,000 991,679 
California Municipal Finance Authority Rev., (Ascent 613), 5.375%, 1/1/55(1)
1,800,000 1,809,699 
California Municipal Finance Authority Rev., (Azusa Pacific University), 5.00%, 4/1/41500,000 486,983 
California Municipal Finance Authority Rev., (Bowles Hall Foundation), 5.00%, 6/1/501,750,000 1,749,894 
California Municipal Finance Authority Rev., (California Baptist University), 5.375%, 11/1/45(1)
775,000 796,860 
California Municipal Finance Authority Rev., (California Baptist University), 5.50%, 11/1/45(1)
4,000,000 3,999,635 
California Municipal Finance Authority Rev., (California Baptist University), 5.00%, 11/1/46(1)
8,325,000 8,130,275 
California Municipal Finance Authority Rev., (California Baptist University), 5.625%, 11/1/54(1)
1,000,000 1,016,164 
California Municipal Finance Authority Rev., (Caritas Corp. CMFA Mobile Home Park Financing 2024 Portfolio), 4.00%, 8/15/441,000,000 944,779 
California Municipal Finance Authority Rev., (Caritas Corp. CMFA Mobile Home Park Financing 2024 Portfolio), 5.00%, 8/15/541,800,000 1,818,276 
California Municipal Finance Authority Rev., (Catalyst Impact Fund 1 LLC), 6.00%, 1/1/39(1)
6,000,000 6,284,231 
California Municipal Finance Authority Rev., (Chevron USA, Inc.), VRDN, 2.35%, 6/1/26 (GA: Chevron Corp.)5,250,000 5,250,000 
California Municipal Finance Authority Rev., (CHF-Davis I LLC), 5.00%, 5/15/32 (BAM-TCRS)3,000,000 3,139,666 
California Municipal Finance Authority Rev., (CHF-Davis I LLC), 5.00%, 5/15/51 (BAM-TCRS)5,505,000 5,549,216 
California Municipal Finance Authority Rev., (CHF-Davis I LLC), 5.00%, 5/15/516,700,000 6,727,595 
California Municipal Finance Authority Rev., (CHF-Davis II LLC), 4.00%, 5/15/41 (BAM)1,000,000 1,005,847 
California Municipal Finance Authority Rev., (Claremont Graduate University), 5.00%, 10/1/49(1)
2,145,000 2,027,677 
California Municipal Finance Authority Rev., (Claremont Graduate University), 5.00%, 10/1/54(1)
1,875,000 1,735,533 
California Municipal Finance Authority Rev., (Clinicas del Camino Real, Inc.), 4.00%, 3/1/506,535,000 5,422,911 
California Municipal Finance Authority Rev., (Community Health Centers of The Central Coast, Inc.), 5.00%, 12/1/54(1)
5,125,000 5,103,796 
California Municipal Finance Authority Rev., (Community Health Centers of The Central Coast, Inc.), 5.75%, 12/1/551,000,000 1,052,288 
California Municipal Finance Authority Rev., (Community Hospitals of Central California Obligated Group), 4.00%, 2/1/512,000,000 1,747,141 
California Municipal Finance Authority Rev., (Congregational Homes, Inc. Obligated Group), 5.00%, 11/15/494,750,000 4,751,314 
California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.00%, 11/1/26(1)
100,000 100,013 
California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.00%, 11/1/36(1)
1,400,000 1,382,838 
California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.50%, 11/1/46(1)
5,300,000 5,010,686 
California Municipal Finance Authority Rev., (Emerson College), 5.00%, 1/1/425,250,000 5,286,485 
California Municipal Finance Authority Rev., (Eskaton Properties, Inc. Obligated Group), 5.00%, 11/15/445,245,000 5,480,915 
California Municipal Finance Authority Rev., (Gateways Hospital and Mental Health Center), 5.25%, 9/1/551,875,000 1,910,542 
California Municipal Finance Authority Rev., (Gracelight Community Health Obligated Group), 5.375%, 6/1/561,955,000 1,946,443 


California Municipal Finance Authority Rev., (Healthright 360), 5.00%, 11/1/29(1)
1,155,000 1,176,770 
California Municipal Finance Authority Rev., (Healthright 360), 5.00%, 11/1/39(1)
3,535,000 3,579,387 
California Municipal Finance Authority Rev., (Healthright 360), 5.00%, 11/1/49(1)
4,450,000 4,220,051 
California Municipal Finance Authority Rev., (HumanGood California Obligated Group), 5.25%, 10/1/441,000,000 1,051,828 
California Municipal Finance Authority Rev., (HumanGood California Obligated Group), 5.25%, 10/1/451,120,000 1,170,854 
California Municipal Finance Authority Rev., (HumanGood California Obligated Group), 4.00%, 10/1/496,250,000 5,519,730 
California Municipal Finance Authority Rev., (Ignatian Corp.), 5.00%, 9/1/542,250,000 2,336,492 
California Municipal Finance Authority Rev., (Maison's Sierra Phase 2 LP), 4.45%, 11/1/43 (FNMA)2,175,000 2,223,841 
California Municipal Finance Authority Rev., (P3 Claremont Holdings LLC), 5.00%, 7/1/40(1)
1,515,000 1,518,114 
California Municipal Finance Authority Rev., (P3 Claremont Holdings LLC), 5.00%, 7/1/52(1)
2,075,000 1,890,657 
California Municipal Finance Authority Rev., (Palmdale Aerospace Academy, Inc.), 5.00%, 7/1/49(1)
5,100,000 4,816,662 
California Municipal Finance Authority Rev., (PRG - Potrero Properties LLC), 5.50%, 9/1/561,200,000 1,296,274 
California Municipal Finance Authority Rev., (PRS-California Obligated Group), 5.00%, 4/1/441,165,000 1,220,307 
California Municipal Finance Authority Rev., (PRS-California Obligated Group), 5.00%, 4/1/491,300,000 1,320,882 
California Municipal Finance Authority Rev., (PRS-California Obligated Group), 5.00%, 4/1/541,540,000 1,551,196 
California Municipal Finance Authority Rev., (River Charter Schools), 5.50%, 6/1/48(1)
2,265,000 2,205,759 
California Municipal Finance Authority Rev., (Samuel Merritt University), 5.25%, 6/1/534,000,000 4,131,701 
California Municipal Finance Authority Rev., (San Jose South 1st Street Associates LP), 5.00%, 12/1/44 (FNMA)5,000,000 5,375,679 
California Municipal Finance Authority Rev., (Santa Rosa Academy LLC), 5.375%, 7/1/45(1)
1,400,000 1,376,186 
California Municipal Finance Authority Rev., (St. Mary and All Angels Christian Church CA), 4.65%, 5/1/30390,000 398,640 
California Municipal Finance Authority Rev., (St. Mary and All Angels Christian Church CA), 5.00%, 5/1/34(1)
250,000 259,184 
California Municipal Finance Authority Rev., (St. Mary and All Angels Christian Church CA), 5.50%, 5/1/44(1)
350,000 357,742 
California Municipal Finance Authority Rev., (St. Mary and All Angels Christian Church CA), 5.75%, 5/1/54(1)
1,095,000 1,103,940 
California Municipal Finance Authority Rev., (St. Mary and All Angels Christian Church CA), 5.875%, 5/1/59(1)
1,200,000 1,214,221 
California Municipal Finance Authority Rev., (United Airlines, Inc.), 4.00%, 7/15/292,600,000 2,622,560 
California Municipal Finance Authority Rev., (Village Green Tax Credit LP), 4.125%, 11/1/41 (FNMA)6,290,000 6,215,229 
California Municipal Finance Authority Rev., (Village Green Tax Credit LP), 4.40%, 12/1/43 (FHLMC)(4)
3,930,000 3,956,256 
California Municipal Finance Authority Rev., (William Jessup University), 5.00%, 8/1/48(1)
8,450,000 5,630,680 
California Municipal Finance Authority Rev., (Witmer Manor Community Partners LP), 4.875%, 11/1/43 (FNMA)(HUD)1,450,000 1,492,059 
California Municipal Finance Authority Rev., VRN, 4.33%, 11/20/402,945,530 2,926,812 
California Municipal Finance Authority Rev., VRN, 3.54%, 2/20/412,951,216 2,761,587 
California Municipal Finance Authority Special Tax, 5.00%, 9/1/391,290,000 1,347,902 
California Municipal Finance Authority Special Tax, 5.00%, 9/1/442,140,000 2,215,127 
California Municipal Finance Authority Special Tax, (California Municipal Finance Auth Cmnty Facs Dist 2024-11, Special Tax Rev.), 5.00%, 9/1/51625,000 626,988 
California Municipal Finance Authority Special Tax, (California Municipal Finance Auth Cmnty Facs Dist 2024-11, Special Tax Rev.), 5.00%, 9/1/56850,000 838,882 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority BOLD Program Series 2020B), 4.00%, 9/1/431,000,000 967,511 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority BOLD Program Series 2020B), 4.00%, 9/1/501,500,000 1,326,480 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority BOLD Program Series 2023B), 5.75%, 9/1/531,850,000 1,945,163 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority BOLD Program Series 2024A), 5.125%, 9/1/541,000,000 1,014,887 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs Dist No. 2022-6 Impt Area No. 2), 5.00%, 9/1/40525,000 548,346 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs Dist No. 2022-6 Impt Area No. 2), 5.25%, 9/1/45500,000 520,055 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs Dist No. 2022-6 Impt Area No. 2), 5.375%, 9/1/50925,000 961,262 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs Dist No. 2022-6 Impt Area No. 2), 5.375%, 9/1/551,500,000 1,548,955 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2021-6 Area No. 2), 6.00%, 9/1/521,700,000 1,789,771 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2022-6 Area No. 1), 5.00%, 9/1/491,250,000 1,266,709 


California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2022-6 Area No. 1), 5.00%, 9/1/542,750,000 2,768,740 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2023-11 Area A), 5.00%, 9/1/54800,000 803,834 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2023-11 Area A), 5.125%, 9/1/591,250,000 1,265,024 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2023-5 Area 2), 4.125%, 9/1/34500,000 502,646 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2023-5 Area 2), 5.00%, 9/1/39750,000 785,253 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2023-5 Area 2), 5.00%, 9/1/441,210,000 1,253,323 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2023-5 Area No. 2), 5.00%, 9/1/501,000,000 1,014,494 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Cmnty Facs District No. 2023-5 Area No. 2), 5.00%, 9/1/551,100,000 1,107,999 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Community Facilities District No. 2021-13), 5.00%, 9/1/472,000,000 2,038,523 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Community Facilities District No. 2021-13), 5.00%, 9/1/501,000,000 1,013,210 
California Municipal Finance Authority Special Tax, (California Municipal Finance Authority Community Facilities District No. 2021-13), 5.00%, 9/1/551,250,000 1,255,756 
California Municipal Finance Authority Special Tax, (City of Chula Vista Community Facilities District No. 2021-11), 5.00%, 9/1/575,000,000 5,017,012 
California Municipal Finance Authority Special Tax, (City of Hesperia CA Community Facilities District No. 2023-11 Area No. 1), 5.125%, 9/1/50765,000 779,467 
California Municipal Finance Authority Special Tax, (City of Hesperia CA Community Facilities District No. 2023-11 Area No. 1), 5.125%, 9/1/551,000,000 1,012,316 
California Municipal Finance Authority SEQ, Series A-1, Class A1, 4.05%, 7/20/414,991,317 4,931,158 
California Pollution Control Financing Authority Rev., (Channelside Water Resources LP), 5.00%, 11/21/45(1)
2,500,000 2,546,099 
California Public Finance Authority Rev., (Crossroads Christian Schools Obligated Group), 5.00%, 1/1/56(1)
4,000,000 3,529,905 
California Public Finance Authority Rev., (Hazelden Betty Ford Foundation), 5.00%, 11/1/542,000,000 2,024,188 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/36(1)
1,160,000 1,174,887 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/46(1)
1,545,000 1,466,922 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/51(1)
1,250,000 1,134,741 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/56(1)
1,260,000 1,120,792 
California School Finance Authority Rev., 5.00%, 6/1/37(1)
475,000 476,272 
California School Finance Authority Rev., 5.00%, 6/1/47(1)
875,000 828,145 
California School Finance Authority Rev., (Alliance for College Ready Public Schools Obligated Group), 5.00%, 7/1/31(1)
4,000,000 3,971,974 
California School Finance Authority Rev., (Alliance for College Ready Public Schools Obligated Group), 5.00%, 7/1/45(1)
5,000,000 5,000,346 
California School Finance Authority Rev., (Alliance for College Ready Public Schools Obligated Group), 5.00%, 7/1/49(1)
1,000,000 1,013,847 
California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/45(1)
1,100,000 1,080,095 
California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 4.00%, 8/1/51(1)
1,300,000 1,042,048 
California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/61(1)
4,000,000 3,704,808 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 2.00%, 6/1/27(1)
70,000 68,660 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 5.00%, 6/1/37(1)
1,800,000 1,802,210 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 4.00%, 6/1/39(1)
1,085,000 1,026,065 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 5.00%, 6/1/47(1)
3,130,000 2,954,909 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 4.00%, 6/1/51(1)
1,730,000 1,439,414 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 4.00%, 6/1/61(1)
2,220,000 1,738,029 
California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.00%, 6/1/26(1)(5)(6)
970,000 582,000 
California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.50%, 6/1/31(1)(5)(6)
1,500,000 900,000 
California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.75%, 6/1/36(1)(5)(6)
1,500,000 900,000 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/30(1)
600,000 604,479 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/37(1)
430,000 429,901 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/48(1)
2,100,000 1,931,728 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/56(1)
2,000,000 1,754,653 
California School Finance Authority Rev., (Granada Hills Charter High School Obligated Group), 5.00%, 7/1/64(1)
2,040,000 1,907,212 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/38(1)
1,130,000 1,145,469 


California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.375%, 8/1/42(1)
500,000 522,001 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/45(1)
3,500,000 3,495,877 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/48(1)
3,630,000 3,549,203 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.75%, 8/1/52(1)
1,650,000 1,693,380 
California School Finance Authority Rev., (Kepler Education, Inc.), 5.75%, 5/1/37 (ST INTERCEPT)(1)
1,050,000 1,056,221 
California School Finance Authority Rev., (Kepler Education, Inc.), 5.875%, 5/1/47 (ST INTERCEPT)(1)
2,425,000 2,429,637 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.00%, 7/1/37(1)
1,180,000 1,191,240 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.00%, 7/1/45(1)
1,650,000 1,650,127 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.00%, 7/1/49(1)
2,000,000 2,002,133 
California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/33(1)
1,025,000 1,031,514 
California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/43(1)
1,075,000 1,075,329 
California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/55(1)
1,000,000 927,893 
California School Finance Authority Rev., (Larchmont Schools), 6.25%, 6/1/65(1)
1,350,000 1,412,868 
California School Finance Authority Rev., (Lighthouse Community Public Schools Obligated Group), 6.375%, 6/1/52(1)
1,225,000 1,260,267 
California School Finance Authority Rev., (Lighthouse Community Public Schools Obligated Group), 6.50%, 6/1/62(1)
2,125,000 2,185,125 
California School Finance Authority Rev., (Orange County Educational Arts Academy), 5.625%, 6/1/43(1)
560,000 571,771 
California School Finance Authority Rev., (Orange County Educational Arts Academy), 5.875%, 6/1/53(1)
700,000 706,361 
California School Finance Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/49(1)
5,250,000 5,122,843 
California School Finance Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/50(1)
2,740,000 2,656,852 
California School Finance Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/59(1)
3,915,000 3,689,515 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/26(1)
120,000 120,000 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/31(1)
870,000 858,225 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/36(1)
1,000,000 1,000,207 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/37(1)
360,000 360,784 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/46(1)
2,100,000 2,022,628 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/53(1)
2,265,000 2,077,785 
California School Finance Authority Rev., (Summit Public Schools Obligated Group), 5.00%, 6/1/27, Prerefunded at 100% of Par(1)(3)
525,000 535,992 
California School Finance Authority Rev., (TEACH, Inc. Series 2019 Obligated Group), 5.00%, 6/1/58(1)
3,600,000 3,277,855 
California School Finance Authority Rev., (Value Schools), 5.00%, 7/1/40 (ST INTERCEPT)(1)
545,000 557,116 
California School Finance Authority Rev., (Value Schools), 5.25%, 7/1/48 (ST INTERCEPT)(1)
700,000 706,510 
California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/391,640,000 1,658,544 
California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/481,000,000 963,688 
California State University Rev., 5.50%, 11/1/496,025,000 6,646,796 
California Statewide Communities Development Authority Rev., (Adventist Health System/West Obligated Group), 5.00%, 3/1/351,785,000 1,786,202 
California Statewide Communities Development Authority Rev., (California Baptist University), 3.50%, 11/1/27(1)
1,075,000 1,063,576 
California Statewide Communities Development Authority Rev., (California Baptist University), 5.00%, 11/1/32(1)
3,090,000 3,113,979 
California Statewide Communities Development Authority Rev., (California Statewide Community Development Authority PACE Assessments), 5.00%, 9/2/35(1)
110,000 113,152 
California Statewide Communities Development Authority Rev., (California Statewide Community Development Authority PACE Assessments), 5.00%, 9/2/40(1)
265,000 270,924 
California Statewide Communities Development Authority Rev., (California Statewide Community Development Authority PACE Assessments), 5.125%, 9/2/48(1)
585,000 592,632 
California Statewide Communities Development Authority Rev., (California Statewide Community Development Authority PACE Assessments), 5.25%, 9/2/61(1)
1,725,000 1,744,681 
California Statewide Communities Development Authority Rev., (CHF-Irvine LLC), 5.00%, 5/15/291,250,000 1,251,734 
California Statewide Communities Development Authority Rev., (CORE 700 Hotel Venture LLC), 6.25%, 9/2/61(1)
2,500,000 2,563,486 
California Statewide Communities Development Authority Rev., (Emanate Health Obligated Group), 4.00%, 4/1/45 (BAM-TCRS)5,000,000 4,887,110 
California Statewide Communities Development Authority Rev., (Enloe Medical Center Obligated Group), 5.25%, 8/15/52 (AG)500,000 507,788 
California Statewide Communities Development Authority Rev., (Front Porch Communities & Services Obligated Group), 4.00%, 4/1/391,405,000 1,406,999 
California Statewide Communities Development Authority Rev., (Front Porch Communities & Services Obligated Group), 4.00%, 4/1/402,615,000 2,610,340 
California Statewide Communities Development Authority Rev., (Lancer Educational Housing LLC), 5.00%, 6/1/46(1)
3,500,000 3,499,439 
California Statewide Communities Development Authority Rev., (Lancer Educational Housing LLC), 5.00%, 6/1/51(1)
1,450,000 1,425,751 


California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/26(1)
2,000,000 2,001,170 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/29(1)
3,155,000 3,157,395 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/36(1)
1,000,000 1,000,490 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/41(1)
1,700,000 1,700,539 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/46(1)
9,900,000 9,900,452 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.50%, 12/1/544,605,000 4,605,988 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.25%, 12/1/56(1)
14,750,000 14,750,181 
California Statewide Communities Development Authority Rev., (Redlands Community Hospital Obligated Group), 4.00%, 10/1/416,500,000 6,340,259 
California Statewide Communities Development Authority Rev., (USC Obligated Group), 5.00%, 1/1/437,500,000 7,663,123 
California Statewide Communities Development Authority Special Assessment, (City of San Diego CA Assessment District No. 18-01), 5.00%, 9/2/391,300,000 1,330,984 
California Statewide Communities Development Authority Special Assessment, (City of San Diego CA Assessment District No. 18-01), 4.00%, 9/2/44900,000 830,052 
California Statewide Communities Development Authority Special Tax, (California Statewide Cmntys Dev Authority Cmnty Facs Dist No. 2015-01 Area No. 3), 5.50%, 9/1/421,000,000 1,059,652 
California Statewide Communities Development Authority Special Tax, (California Statewide Cmntys Dev Authority Cmnty Facs Dist No. 2015-01 Area No. 3), 5.625%, 9/1/523,000,000 3,126,459 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Dev Auth Cmnty Facs Dist 2020-2 Impt Area 4), 4.00%, 9/1/34250,000 249,400 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Dev Auth Cmnty Facs Dist 2020-2 Impt Area 4), 5.00%, 9/1/451,800,000 1,853,940 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Dev Auth Cmnty Facs Dist 2020-2 Impt Area 4), 5.00%, 9/1/552,380,000 2,386,159 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Dev Auth Cmnty Facs Dist 2022-7 Impt Area 2), 5.00%, 9/1/491,500,000 1,521,072 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Dev Auth Cmnty Facs Dist No. 2020-2 Impt Area 3), 5.00%, 9/1/49375,000 380,649 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Dev Authority Cmnty Facs Dist No. 2022-10), 5.50%, 9/1/531,700,000 1,768,088 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2016), 5.00%, 9/1/391,000,000 1,027,192 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2016), 5.00%, 9/1/492,095,000 2,105,391 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2016), 5.50%, 9/1/524,240,000 4,326,269 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2017), 5.00%, 9/1/487,330,000 7,357,378 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2018), 5.00%, 9/1/391,415,000 1,447,344 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2018), 5.00%, 9/1/481,750,000 1,763,214 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2018), 4.00%, 9/1/501,200,000 1,036,468 
California Statewide Financing Authority Rev., Capital Appreciation, 0.00%, 6/1/46(2)
20,000,000 5,220,216 
Central Valley Energy Authority Rev., 5.00%, 8/1/34 (GA: Goldman Sachs Group, Inc.)2,200,000 2,363,419 
Central Valley Energy Authority Rev., VRN, 5.00%, 12/1/55 (GA: Pacific Life Insurance Co.)5,000,000 5,378,135 
Chabot-Las Positas Community College District GO, 5.00%, 8/1/482,400,000 2,598,884 
Chabot-Las Positas Community College District GO, 5.25%, 8/1/484,350,000 4,691,479 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No 2003-3 Improvement Area No. 11), 5.00%, 9/1/501,000,000 999,493 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No 2003-3 Improvement Area No. 11), 5.00%, 9/1/551,375,000 1,358,178 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 10), 5.00%, 9/1/49680,000 690,479 


Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 10), 5.00%, 9/1/54740,000 746,543 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 7), 5.00%, 9/1/433,160,000 3,208,947 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 7), 4.00%, 9/1/451,325,000 1,222,662 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 7), 5.00%, 9/1/482,500,000 2,519,409 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 7), 4.00%, 9/1/502,500,000 2,214,074 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 9), 5.375%, 9/1/471,615,000 1,682,188 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2003-3 Improvement Area No. 9), 5.375%, 9/1/522,000,000 2,058,705 
Chino Community Facilities District Special Tax, (City of Chino CA Community Facilities District No. 2019-1), 4.00%, 9/1/511,000,000 886,390 
Citrus Community College District GO, 5.00%, 8/1/443,590,000 3,938,676 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, (City & County of San Francisco Community Facilities District No. 2016-1 Area 1), 4.00%, 9/1/35300,000 299,617 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, (City & County of San Francisco Community Facilities District No. 2016-1 Area 1), 4.00%, 9/1/42600,000 560,554 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, (City & County of San Francisco Community Facilities District No. 2016-1 Area 1), 4.00%, 9/1/501,450,000 1,259,775 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, (City & County of San Francisco Community Facilities District No. 2016-1 Area 1), 4.00%, 9/1/512,500,000 2,093,376 
City & County of San Francisco Special Tax District No. Special Tax, (City & County of San Francisco CA Dist No. 2020-1 Office Special Tax), 5.75%, 9/1/53(1)
1,800,000 1,881,422 
City & County of San Francisco Special Tax District No. Special Tax, (City & County of San Francisco CA Dist No. 2020-1 Shoreline Tax Zone 1), 5.75%, 9/1/53(1)
1,500,000 1,567,851 
City & County of San Francisco, Infrastructure & Revitalization Financing Dist No. 1 Facs Tax Allocation, 5.00%, 9/1/52(1)
1,500,000 1,445,966 
City & County San Francisco Infrastructure & Revitalization Financing District 1 Facilities Tax Allocation, 5.00%, 9/1/55(1)
2,250,000 2,179,192 
Clovis Unified School District GO, 4.00%, 8/1/484,000,000 3,840,860 
Corona Community Facilities District Special Tax, (City of Corona CA Community Facilities District No 2018-1 Improvement Area No. 2), 5.00%, 9/1/491,600,000 1,620,300 
Corona Community Facilities District Special Tax, (City of Corona CA Community Facilities District No 2018-1 Improvement Area No. 2), 5.00%, 9/1/541,600,000 1,608,745 
Corona-Norco Unified School District Special Tax, (Corona-Norco Unified School District Community Facilities District No. 05-1), 4.00%, 9/1/452,000,000 1,828,781 
Corona-Norco Unified School District Special Tax, (Corona-Norco Unified School District Community Facilities District No. 16-1), 5.00%, 9/1/432,430,000 2,463,472 
County of Sacramento Rev., (Einstein Preservation LP), Series 2024-01FN, 4.125%, 5/1/40 (FNMA)1,230,000 1,238,902 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority 1818 Platinum Triangle-Anaheim), 3.25%, 4/1/57(1)
9,635,000 7,064,797 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority 1818 Platinum Triangle-Anaheim), 4.00%, 4/1/57(1)
3,000,000 2,247,626 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Altana Apartments), 4.00%, 10/1/56(1)
13,000,000 10,210,006 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Dublin), 4.00%, 2/1/57(1)
4,000,000 3,045,713 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Escondido Portfolio), 4.00%, 12/1/59(1)
12,000,000 6,522,484 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Oceanaire Apartments), 4.00%, 9/1/56(1)
3,000,000 2,175,331 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Orange Portfolio), 3.00%, 3/1/57(1)
9,000,000 6,237,319 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Orange Portfolio), 4.00%, 3/1/57(1)
3,235,000 2,420,730 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Parallel-Anaheim), 4.00%, 8/1/56(1)
4,820,000 4,361,693 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Pasadena Portfolio), 2.65%, 12/1/46(1)
1,405,000 1,222,717 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Renaissance at City Center), 5.00%, 7/1/51(1)
11,610,000 11,108,963 


CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Waterscape Apartments), 4.00%, 9/1/46(1)
1,925,000 1,646,702 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Westgate Apartments), 3.125%, 6/1/57(1)
5,385,000 3,288,628 
CSCDA Community Improvement Authority Rev., (CSCDA Community Improvement Authority Westgate Apartments), 4.00%, 6/1/57(1)
2,500,000 513,026 
Dixon Special Tax, (City of Dixon CA Community Facilities District No. 2019-1 Improvement Area No. 1), 4.00%, 9/1/451,000,000 921,562 
Dixon Special Tax, (City of Dixon CA Community Facilities District No. 2019-1 Improvement Area No. 2), 5.00%, 9/1/46300,000 307,717 
Dixon Special Tax, (City of Dixon CA Community Facilities District No. 2019-1 Improvement Area No. 2), 5.00%, 9/1/481,400,000 1,404,414 
Dixon Special Tax, (City of Dixon CA Community Facilities District No. 2019-1 Improvement Area No. 2), 5.00%, 9/1/531,600,000 1,602,676 
Dixon Special Tax, (City of Dixon CA Community Facilities District No. 2019-1 Improvement Area No. 2), 5.00%, 9/1/541,000,000 1,003,447 
Downey Unified School District GO, 4.00%, 8/1/573,500,000 3,283,557 
Dublin Special Tax, (City of Dublin CA Community Facilities District No. 2015-1 Improvement Area No. 4), 5.50%, 9/1/472,630,000 2,757,091 
Dublin Special Tax, (City of Dublin CA Community Facilities District No. 2015-1 Improvement Area No. 4), 5.50%, 9/1/513,040,000 3,151,981 
Dublin Special Tax, (City of Dublin CA Community Facilities District No. 2015-1 Improvement Area No. 5), 5.375%, 9/1/511,250,000 1,287,018 
Dublin Community Facilities District Improvement Area No. 1 Special Tax, (City of Dublin CA Community Facilities District No. 2015-1 Improvement Area No. 1), 5.00%, 9/1/371,150,000 1,167,313 
Dublin Community Facilities District Improvement Area No. 1 Special Tax, (City of Dublin CA Community Facilities District No. 2015-1 Improvement Area No. 1), 5.00%, 9/1/472,840,000 2,854,128 
Dublin Community Facilities District Improvement Area No. 1 Special Tax, (City of Dublin CA Community Facilities District No. 2015-1 Improvement Area No. 2), 5.00%, 9/1/442,200,000 2,243,749 
East Bay Municipal Utility District Wastewaters Rev., 5.00%, 6/1/562,800,000 2,992,083 
East Garrison Public Finance Authority Special Tax, (East Garrison Public Finance Authority East Garrison Cmnty Facs Dist No. 2006-1), 5.00%, 9/1/461,150,000 1,150,799 
Eastern Municipal Water District Community Facilities District Special Tax, (Eastern Municipal Water District Community Facilities District No. 2018-80), 5.00%, 9/1/54565,000 569,996 
El Dorado County Special Tax, (County of El Dorado CA Community Facilities District No. 2014-1), 4.00%, 9/1/462,350,000 2,127,790 
El Rancho Unified School District GO, 5.75%, 8/1/48 (BAM)625,000 694,732 
El Rancho Unified School District GO, Capital Appreciation, 0.00%, 8/1/28(2)
1,335,000 1,254,157 
Escondido Special Tax, (City of Escondido CA Community Facilities District No. 2020-2), 5.00%, 9/1/522,700,000 2,713,616 
Fairfield Community Facilities District Special Tax, (City of Fairfield CA Community Facilities District No. 2019-1 Area No. 1), 5.00%, 9/1/503,250,000 3,272,858 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 18), 5.00%, 9/1/441,065,000 1,105,364 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 18), 5.00%, 9/1/491,250,000 1,270,969 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 19), 5.00%, 9/1/441,140,000 1,162,670 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 19), 5.00%, 9/1/474,325,000 4,345,993 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 20), 5.00%, 9/1/33530,000 546,174 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 20), 5.00%, 9/1/421,680,000 1,748,654 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 20), 5.125%, 9/1/471,250,000 1,287,252 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 20), 5.125%, 9/1/521,300,000 1,324,316 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 23 Area No 1), 4.00%, 9/1/502,285,000 1,999,894 
Folsom Ranch Financing Authority Special Tax, (City of Folsom CA Community Facilities District No. 23 Improvement Area No. 4), 5.00%, 9/1/441,000,000 1,037,901 
Fontana Special Tax, (City of Fontana CA Community Facilities District No. 109), 5.00%, 9/1/491,000,000 1,015,411 
Fontana Special Tax, (City of Fontana CA Community Facilities District No. 109), 5.00%, 9/1/541,400,000 1,413,326 
Fontana Special Tax, (City of Fontana CA Community Facilities District No. 31), 5.00%, 9/1/351,365,000 1,396,723 
Foothill-Eastern Transportation Corridor Agency Rev., 4.00%, 1/15/461,600,000 1,555,279 
Foothill-Eastern Transportation Corridor Agency Rev., 4.00%, 1/15/46 (BAM-TCRS)7,611,000 7,458,063 
Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/42(2)
6,000,000 3,179,060 
Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, 6.85%, 1/15/422,200,000 2,617,604 
Fort Bragg Unified School District GO, 5.50%, 8/1/521,450,000 1,509,679 
Fremont Community Facilities District No. 1 Special Tax, 5.00%, 9/1/452,000,000 2,001,347 
Fresno Unified School District GO, 4.00%, 8/1/522,500,000 2,347,628 
Fresno Unified School District GO, 4.00%, 8/1/552,500,000 2,324,722 
Glendale Electric Rev., 5.00%, 2/1/492,000,000 2,092,639 


Glendale Electric Rev., 5.00%, 2/1/543,000,000 3,107,177 
Golden State Tobacco Securitization Corp. Rev., 5.00%, 6/1/512,000,000 1,999,405 
Golden State Tobacco Securitization Corp. Rev., Capital Appreciation, 0.00%, 6/1/66(2)
58,750,000 5,874,783 
Hastings Campus Housing Finance Authority Rev., 5.00%, 7/1/45(1)
1,000,000 973,591 
Hastings Campus Housing Finance Authority Rev., 5.00%, 7/1/61(1)
7,725,000 6,892,386 
Hastings Campus Housing Finance Authority Rev., Capital Appreciation, VRN, 0.00%, 7/1/61(1)
14,365,000 7,136,917 
Independent Cities Finance Authority Rev., (City of Compton CA Sales Tax), 4.00%, 6/1/51 (AG)(1)
3,400,000 3,215,121 
Independent Cities Finance Authority Rev., (Millennium Housing LLC CA), 5.00%, 9/15/502,000,000 2,024,263 
Independent Cities Finance Authority Rev., (Palomar Estates East), 5.00%, 9/15/361,000,000 1,000,755 
Independent Cities Finance Authority Rev., (Palomar Estates West), 5.00%, 9/15/361,500,000 1,501,132 
Indio Electric Financing Authority Rev., (Imperial Irrigation District Electric System), 5.25%, 1/1/533,000,000 3,154,471 
Inland Valley Development Agency Tax Allocation, 5.25%, 9/1/371,110,000 1,119,649 
Irvine Special Assessment, (City of Irvine Assessment District No. 07-22), VRDN, 2.40%, 6/1/26 (LOC: Sumitomo Mitsui Banking Corp.)2,321,000 2,321,000 
Irvine Special Tax, (City of Irvine CA Community Facilities District No 2013-3 Area No. 1), Capital Appreciation, 0.00%, 9/1/52 (BAM)(2)
1,400,000 402,066 
Irvine Special Tax, (City of Irvine CA Community Facilities District No 2013-3 Area No. 1), Capital Appreciation, 0.00%, 9/1/53 (BAM)(2)
1,000,000 273,725 
Irvine Special Tax, (City of Irvine CA Community Facilities District No. 2013-3 Improvement Area No. 8), 5.00%, 9/1/482,500,000 2,514,102 
Irvine Facilities Financing Authority Rev., (City of Irvine CA), 4.25%, 5/1/535,000,000 4,861,368 
Jurupa Unified School District Special Tax, (Jurupa Unified School District Community Facilities District No. 11 Area B), 4.00%, 9/1/471,000,000 903,991 
Jurupa Unified School District Special Tax, (Jurupa Unified School District Community Facilities District No. 6 Zone 2), 5.00%, 9/1/381,000,000 1,019,215 
Jurupa Unified School District Special Tax, (Jurupa Unified School District Community Facilities District No. 6 Zone 2), 5.00%, 9/1/431,255,000 1,268,799 
Kentfield School District GO, 5.00%, 8/1/421,075,000 1,196,913 
La Canada Unified School District GO, 6.00%, 8/1/503,400,000 3,893,994 
Lake Elsinore Special Tax, (City of Lake Elsinore CA Community Facilities District No. 2015-4), 5.00%, 9/1/46475,000 491,307 
Lake Elsinore Special Tax, (City of Lake Elsinore CA Community Facilities District No. 2015-4), 5.00%, 9/1/551,300,000 1,310,416 
Lake Elsinore Special Tax, (City of Lake Elsinore CA Community Facilities District No. 2016-2), 5.00%, 9/1/432,470,000 2,500,324 
Lake Elsinore Unified School District Community Facilities District Special Tax, (Lake Elsinore Unified School District Community Facilities District No. 2013-1), 4.00%, 9/1/47900,000 820,362 
Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities Dist No. 2024-1), 5.125%, 9/1/502,000,000 2,051,989 
Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities Dist No. 2024-1), 5.25%, 9/1/553,000,000 3,097,335 
Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities District No. 200), 5.00%, 9/1/301,300,000 1,329,711 
Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities District No. 200), 5.00%, 9/1/321,510,000 1,541,681 
Lee Lake Water District Financing Corp. Special Tax, (Temescal Valley Water District Community Facilities District No. 4 Area No. 1), 5.00%, 9/1/434,730,000 4,802,250 
Lincoln Special Tax, (City of Lincoln CA Community Facilities District No. 2005-1), 5.00%, 9/1/501,125,000 1,127,965 
Long Beach Bond Finance Authority Rev., 5.50%, 11/15/37 (GA: Merrill Lynch & Co., Inc.)1,150,000 1,314,493 
Long Beach Marina System Rev., 5.00%, 5/15/362,410,000 2,737,190 
Long Beach Marina System Rev., 5.00%, 5/15/372,505,000 2,826,824 
Long Beach Marina System Rev., 5.00%, 5/15/382,780,000 3,122,441 
Long Beach Marina System Rev., 5.00%, 5/15/391,110,000 1,240,183 
Los Altos Elementary School District GO, 4.125%, 8/1/492,005,000 2,000,228 
Los Angeles County Community Facilities District No. 2021-01 Special Tax, (County of Los Angeles CA Community Facilities District No. 2021-01 Area No.1), 5.00%, 9/1/521,000,000 1,012,559 
Los Angeles County Community Facilities District No. 2021-01 Special Tax, (County of Los Angeles CA Community Facilities District No. 2021-01 Area No.2), 5.00%, 9/1/492,525,000 2,562,191 
Los Angeles County Public Works Financing Authority Rev., (County of Los Angeles CA), 5.50%, 12/1/492,350,000 2,583,987 
Los Angeles Department of Airports Rev., 5.00%, 5/15/393,000,000 3,199,046 
Los Angeles Department of Water & Power Rev., (Los Angeles Department of Water & Power Power System), 5.00%, 7/1/426,440,000 7,004,266 
Los Angeles Department of Water & Power Water System Rev., 5.00%, 7/1/261,115,000 1,116,991 


Los Angeles Department of Water & Power Water System Rev., 5.00%, 1/1/301,880,000 1,998,135 
Los Angeles Department of Water & Power Water System Rev., 5.00%, 7/1/311,000,000 1,095,228 
Los Angeles Department of Water & Power Water System Rev., 5.00%, 7/1/331,425,000 1,592,091 
Los Angeles Department of Water & Power Water System Rev., 5.00%, 7/1/34675,000 758,841 
Los Angeles Department of Water & Power Water System Rev., 5.00%, 7/1/351,000,000 1,134,922 
Los Angeles Department of Water & Power Water System Rev., 5.00%, 7/1/46 (BAM)2,000,000 2,111,922 
Los Angeles Department of Water & Power Water System Rev., 5.00%, 7/1/512,500,000 2,542,965 
Los Angeles Housing Authority Rev., 3.75%, 4/1/34 (FNMA)1,998,039 2,010,820 
Los Angeles Unified School District GO, 5.00%, 7/1/494,000,000 4,270,353 
Marina Joint Powers Financing Authority Rev., 3.40%, 3/1/36 (FNMA)2,280,000 2,305,791 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/26115,000 115,424 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/27100,000 101,760 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/28100,000 102,937 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/38250,000 254,266 
Menifee Special Tax, (City of Menifee CA Community Facilities District No. 2023-1), 5.00%, 9/1/39820,000 862,614 
Menifee Special Tax, (City of Menifee CA Community Facilities District No. 2023-1), 5.00%, 9/1/441,000,000 1,035,106 
Menifee Special Tax, (City of Menifee Community Facilities District No. 2022-3 Improvement Area No.), 5.00%, 9/1/51(4)
2,000,000 2,025,098 
Menifee Special Tax, (City of Menifee Community Facilities District No. 2022-3 Improvement Area No.), 5.00%, 9/1/56(4)
2,665,000 2,685,477 
Menifee Union School District GO, Capital Appreciation, 0.00%, 8/1/44(2)
1,750,000 755,210 
Menifee Union School District GO, Capital Appreciation, 0.00%, 8/1/45(2)
1,200,000 488,409 
Menifee Union School District Special Tax, (Menifee Union School District Community Facilities District No. 2011-1 Area No. 4), 5.00%, 9/1/441,245,000 1,272,789 
Menifee Union School District Special Tax, (Menifee Union School District Community Facilities District No. 2011-1 Area No. 7), 5.25%, 9/1/522,000,000 2,045,356 
Middle Fork Project Finance Authority Rev., 5.00%, 4/1/341,175,000 1,236,407 
Middle Fork Project Finance Authority Rev., 5.00%, 4/1/351,030,000 1,080,845 
Middle Fork Project Finance Authority Rev., 5.00%, 4/1/362,350,000 2,458,301 
Midpeninsula Regional Open Space District Field Employees Corp. GO, 4.00%, 3/1/541,140,000 1,073,228 
Moreno Valley Public Financing Authority Rev., (Moreno Valley Public Financing Authority Electric System), 5.25%, 5/1/56 (AG)(4)
1,525,000 1,627,371 
Moreno Valley Unified School District Community Facilities District Special Tax, (Moreno Valley Unified School District Community Facilities District No. 2022-1), 5.125%, 9/1/50800,000 811,231 
Moreno Valley Unified School District Community Facilities District Special Tax, (Moreno Valley Unified School District Community Facilities District No. 2022-1), 5.125%, 9/1/551,345,000 1,355,216 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Improvement Area 1), 4.25%, 9/1/35400,000 402,662 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Improvement Area 1), 5.00%, 9/1/40500,000 519,536 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Improvement Area 1), 5.00%, 9/1/451,000,000 1,020,312 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Improvement Area 1), 5.00%, 9/1/502,125,000 2,137,244 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Improvement Area 1), 5.00%, 9/1/552,000,000 1,996,715 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Impt Area 6), 5.125%, 9/1/45300,000 309,669 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Impt Area 6), 5.25%, 9/1/50400,000 409,019 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Impt Area 6), 5.25%, 9/1/55600,000 609,575 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Impt Area 7), 5.125%, 9/1/45250,000 258,058 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Impt Area 7), 5.25%, 9/1/50500,000 511,274 
Mountain House Community Facilities District Special Tax, (City of Mountain House CA Community Facilities District No. 2024-1 Impt Area 7), 5.25%, 9/1/55600,000 609,575 
Mountain House Public Financing Authority Special Tax, 5.00%, 9/1/46100,000 101,756 
Mountain House Public Financing Authority Special Tax, 5.00%, 9/1/51575,000 578,207 
Mountain House Public Financing Authority Special Tax, 5.00%, 9/1/56650,000 645,472 


M-S-R Energy Authority Rev., 7.00%, 11/1/34 (GA: Citigroup, Inc.)1,700,000 2,048,273 
M-S-R Energy Authority Rev., 6.50%, 11/1/39 (GA: Citigroup, Inc.)4,000,000 4,932,694 
Murrieta Community Facilities District Special Tax, (City of Murrieta CA Community Facilities District No. 2005-5 Improvement Area A), 5.00%, 9/1/46825,000 825,526 
New Hampshire Business Finance Authority Rev., VRN, 3.81%, 7/20/3913,310,548 12,929,781 
North Lake Tahoe Public Financing Authority Rev., (County of Placer CA), 5.50%, 12/1/474,425,000 4,796,399 
Northern Inyo County Local Hospital District GO, 0.00%, 11/1/34 (AG)(2)
1,325,000 950,260 
Northern Inyo County Local Hospital District GO, 0.00%, 11/1/36 (AG)(2)
2,885,000 1,867,469 
Norwalk-La Mirada Unified School District GO, 5.00%, 8/1/511,750,000 1,831,459 
Ojai Unified School District GO, 5.50%, 8/1/53 (AG)1,750,000 1,869,455 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 35), 5.00%, 9/1/49500,000 508,046 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 35), 5.00%, 9/1/541,000,000 1,010,196 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 56), 5.50%, 9/1/481,250,000 1,318,649 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 56), 5.75%, 9/1/542,210,000 2,341,603 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 57), 4.25%, 9/1/37415,000 420,182 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 57), 4.625%, 9/1/42650,000 657,257 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 57), 4.75%, 9/1/47840,000 838,814 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 57), 4.75%, 9/1/52825,000 800,380 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 71), 5.00%, 9/1/401,000,000 1,078,350 
Ontario Special Tax, (City of Ontario CA Community Facilities District No. 71), 5.00%, 9/1/45500,000 522,598 
Ontario Community Facilities District No. 24 Special Tax, 5.00%, 9/1/26390,000 391,832 
Ontario Community Facilities District No. 28 Special Tax, 5.00%, 9/1/421,000,000 1,008,638 
Ontario Community Facilities District No. 28 Special Tax, 5.00%, 9/1/47500,000 502,246 
Ontario Community Facilities District No. 30 Special Tax, 4.00%, 9/1/421,395,000 1,301,767 
Ontario Community Facilities District No. 30 Special Tax, 4.00%, 9/1/482,000,000 1,745,522 
Ontario Community Facilities District No. 31 Special Tax, 5.00%, 9/1/421,050,000 1,058,179 
Ontario Community Facilities District No. 34 Special Tax, 4.00%, 9/1/481,000,000 876,441 
Ontario Community Facilities District No. 43 Special Tax, 4.00%, 9/1/501,000,000 876,518 
Ontario Community Facilities District No. 64 Special Tax, 5.00%, 9/1/443,485,000 3,590,374 
Ontario Community Facilities District No. 64 Special Tax, 5.00%, 9/1/492,500,000 2,526,628 
Orange County Community Facilities District Special Tax, (County of Orange CA Community Facilities District No. 2016-1), 5.00%, 8/15/416,545,000 6,555,946 
Orange County Community Facilities District Special Tax, (County of Orange CA Community Facilities District No. 2016-1), 5.00%, 8/15/463,000,000 3,002,896 
Orange County Community Facilities District Special Tax, (County of Orange CA Community Facilities District No. 2017-1 Area No.1), 5.00%, 8/15/422,500,000 2,531,173 
Orange County Community Facilities District Special Tax, (County of Orange CA Community Facilities District No. 2021-1), 5.00%, 8/15/473,300,000 3,366,744 
Orange County Community Facilities District Special Tax, (County of Orange CA Community Facilities District No. 2021-1), 5.00%, 8/15/521,000,000 1,010,343 
Orange County Community Facilities District Special Tax, (County of Orange CA Community Facilities District No. 2023-1), 5.50%, 8/15/532,200,000 2,282,247 
Orange County Community Facilities District Special Tax, (County of Orange CA Community Facilities District No. 2023-1), 5.75%, 8/15/531,085,000 1,141,874 
Oroville Rev., (Oroville Hospital), 5.25%, 4/1/39(5)(6)
2,350,000 1,668,500 
Oroville Rev., (Oroville Hospital), 5.25%, 4/1/49(5)(6)
3,000,000 2,100,000 
Palm Desert Special Tax, (City of Palm Desert CA Community Facilities District No. 2021-1), 5.00%, 9/1/49600,000 611,249 
Palm Desert Special Tax, (City of Palm Desert CA Community Facilities District No. 2021-1), 4.00%, 9/1/511,300,000 1,109,804 
Palm Desert Special Tax, (City of Palm Desert CA Community Facilities District No. 2021-1), 5.00%, 9/1/53525,000 531,740 
Palmdale Water District Public Financing Authority Rev., (Palmdale Water District), 5.00%, 10/1/53 (AG)1,700,000 1,775,091 
Palomar Health COP, (Palomar Health Obligated Group), 4.00%, 11/1/381,445,000 1,242,803 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/363,465,000 3,433,929 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/398,250,000 8,172,223 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/4215,000,000 14,450,385 
Paradise Unified School District COP, 4.875%, 5/1/5411,000,000 10,479,965 
Peninsula Corridor Joint Powers Board Rev., 5.00%, 6/1/517,000,000 7,247,300 
Perris Joint Powers Authority Special Tax, 5.00%, 9/1/341,555,000 1,579,312 


Pleasant Valley School District/Ventura County GO, 5.85%, 8/1/31 (NPFG)3,330,000 3,560,137 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Arista Del Sol Cmnty Facs Dist No. 2022-1 Impt Area 1), 5.375%, 9/1/531,300,000 1,337,227 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Arista Del Sol Cmnty Facs Dist No. 2022-1 Impt Area 2), 5.00%, 9/1/51670,000 674,930 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Arista Del Sol Cmnty Facs Dist No. 2022-1 Impt Area 2), 5.00%, 9/1/55645,000 647,785 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Ranch Community Facs District No. 2021-1 Area No. 1), 5.25%, 9/1/522,000,000 2,044,274 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Ranch Community Facs District No. 2021-1 Area No. 2), 5.00%, 9/1/40365,000 381,829 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Ranch Community Facs District No. 2021-1 Area No. 2), 5.00%, 9/1/45560,000 572,913 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Ranch Community Facs District No. 2021-1 Area No. 2), 5.00%, 9/1/50750,000 755,333 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Ranch Community Facs District No. 2021-1 Area No. 2), 5.00%, 9/1/54700,000 703,826 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Ranch Community Facs District No. 2021-1 Area No. 3), 5.00%, 9/1/50850,000 856,003 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Ranch Community Facs District No. 2021-1 Area No. 3), 5.00%, 9/1/551,085,000 1,087,287 
Rancho Cordova Special Tax, (City of Rancho Cordova CA Sunridge North Douglas Cmnty Facs District No. 2005-1), 4.00%, 9/1/451,025,000 939,692 
Rancho Cordova Special Tax, (City of Rancho Cordova CA The Preserve Community Facs Dist No. 2025-1 Impt Area), 5.00%, 9/1/46350,000 360,415 
Rancho Cordova Special Tax, (City of Rancho Cordova CA The Preserve Community Facs Dist No. 2025-1 Impt Area), 5.00%, 9/1/51650,000 655,746 
Rancho Cordova Special Tax, (City of Rancho Cordova CA The Preserve Community Facs Dist No. 2025-1 Impt Area), 5.00%, 9/1/55655,000 657,345 
Redwood City Redevelopment Agency Successor Agency Tax Allocation, Capital Appreciation, 0.00%, 7/15/28 (AMBAC)(2)
3,405,000 3,202,462 
Regents of the University of California Medical Center Pooled Rev., 4.13%, 5/15/322,710,000 2,653,774 
Regents of the University of California Medical Center Pooled Rev., VRDN, 2.25%, 6/1/26460,000 460,000 
Regents of the University of California Medical Center Pooled Rev., VRDN, 2.35%, 6/1/26775,000 775,000 
Regents of the University of California Medical Center Pooled Rev., VRDN, 2.35%, 6/1/262,125,000 2,125,000 
Rialto Special Tax, (City of Rialto CA Community Facilities District No 2024-1), 5.00%, 9/1/46610,000 625,840 
Rialto Special Tax, (City of Rialto CA Community Facilities District No 2024-1), 5.00%, 9/1/51550,000 558,547 
Rialto Special Tax, (City of Rialto CA Community Facilities District No 2024-1), 5.00%, 9/1/55445,000 449,225 
Rialto Special Tax, (City of Rialto CA Community Facilities District No. 2020-1), 5.00%, 9/1/501,750,000 1,764,952 
Rialto Special Tax, (City of Rialto CA Community Facilities District No. 2020-1), 5.50%, 9/1/531,500,000 1,564,736 
Rialto Special Tax, (City of Rialto CA Community Facilities District No. 2020-1), 5.125%, 9/1/551,115,000 1,130,887 
Rialto Special Tax, (City of Rialto CA Community Facilities District No. 2020-1), 5.25%, 9/1/605,545,000 5,673,174 
Rincon Valley Union School District GO, 4.00%, 8/1/49915,000 865,846 
River Islands Public Financing Authority Special Tax, (River Islands Public Financing Authority Community Facs Dist 2023-1 Impt Area 3), 4.50%, 9/1/401,100,000 1,105,851 
River Islands Public Financing Authority Special Tax, (River Islands Public Financing Authority Community Facs Dist 2023-1 Impt Area 3), 5.00%, 9/1/551,750,000 1,694,927 
Riverside County Community Facilities Districts Special Tax, (County of Riverside CA Community Facilities District No. 07-2), 5.00%, 9/1/421,110,000 1,118,646 
Riverside County Community Facilities Districts Special Tax, (County of Riverside CA Community Facilities District No. 07-2), 5.00%, 9/1/442,735,000 2,735,631 
Riverside County Community Facilities Districts Special Tax, (County of Riverside CA Community Facilities District No. 07-2), 5.00%, 9/1/45540,000 543,411 
Riverside County Transportation Commission Rev., 4.00%, 6/1/461,475,000 1,450,960 
Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/41(2)
2,000,000 1,059,808 
Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/42(2)
3,320,000 1,657,918 
Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/43(2)
5,000,000 2,363,092 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities Dist No. 19 Impt Area 1), 5.00%, 9/1/541,270,000 1,281,628 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities Dist No. 19 Impt Area 2), 5.00%, 9/1/54770,000 777,050 


Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 32), 4.00%, 9/1/431,600,000 1,510,599 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 32), 4.00%, 9/1/481,850,000 1,642,071 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 38), 5.00%, 9/1/502,000,000 2,026,005 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 38), 5.00%, 9/1/551,000,000 1,006,532 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 40), 5.00%, 9/1/552,000,000 2,015,955 
Riverside Water Rev., 5.00%, 10/1/471,000,000 1,058,269 
Riverside Water Rev., 5.00%, 10/1/521,000,000 1,040,985 
Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2004-1 Area No. 4), 5.00%, 9/1/433,000,000 3,049,045 
Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2004-1), 5.00%, 9/1/382,900,000 2,914,601 
Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2020-1), 5.00%, 9/1/491,000,000 1,014,729 
Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2020-2 Area No. 1), 5.00%, 9/1/502,000,000 2,031,868 
Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2020-2 Area No. 1), 5.00%, 9/1/551,800,000 1,816,795 
Romoland School District Special Tax, (Romoland School District-Community Facilities District No. 2017-1 Impt Area 2), 5.00%, 9/1/46370,000 380,379 
Romoland School District Special Tax, (Romoland School District-Community Facilities District No. 2017-1 Impt Area 2), 5.00%, 9/1/541,525,000 1,537,108 
Romoland School District Special Tax, (Romoland School District-Community Facilities District No. 2021-1 Impt Area 1), 5.00%, 9/1/51(4)
500,000 508,409 
Romoland School District Special Tax, (Romoland School District-Community Facilities District No. 2021-1 Impt Area 1), 5.00%, 9/1/56(4)
400,000 402,688 
Roseville Special Tax, (City of Roseville CA Amoruso Ranch Community Facilities District 1 Impt Area 1), 5.00%, 9/1/491,125,000 1,134,697 
Roseville Special Tax, (City of Roseville CA Amoruso Ranch Community Facilities District 1 Impt Area 1), 5.00%, 9/1/543,245,000 3,254,003 
Roseville Special Tax, (City of Roseville CA Creekview Community Facilities District No. 1 Area No. 1), 5.00%, 9/1/501,995,000 2,010,556 
Roseville Special Tax, (City of Roseville CA Creekview Community Facilities District No. 1 Area No. 2), 5.00%, 9/1/39740,000 777,930 
Roseville Special Tax, (City of Roseville CA Creekview Community Facilities District No. 1 Area No. 2), 5.00%, 9/1/441,000,000 1,027,466 
Roseville Special Tax, (City of Roseville CA Creekview Community Facilities District No. 1), 5.00%, 9/1/43475,000 490,982 
Roseville Special Tax, (City of Roseville CA Creekview Community Facilities District No. 1), 5.25%, 9/1/531,500,000 1,532,947 
Roseville Special Tax, (City of Roseville CA Creekview Phase 5 Community Facilities District No. 1), 5.00%, 9/1/551,375,000 1,362,316 
Roseville Special Tax, (City of Roseville CA Fiddyment Ranch Community Facilities District No. 5), 5.00%, 9/1/32(1)
1,265,000 1,287,489 
Roseville Special Tax, (City of Roseville CA Fiddyment Ranch Community Facilities District No. 5), 5.00%, 9/1/47(1)
6,500,000 6,527,628 
Roseville Special Tax, (City of Roseville CA Ranch at Sierra Vista Community Facilities District No. 1), 4.00%, 9/1/501,000,000 873,939 
Roseville Special Tax, (City of Roseville CA Ranch at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/531,000,000 1,010,397 
Roseville Special Tax, (City of Roseville CA SVSP Westpark-Federico Community Facilities District No. 1), 4.00%, 9/1/511,290,000 1,117,875 
Roseville Special Tax, (City of Roseville CA Villages at Sierra Vista Community Facilities District 1), 5.00%, 9/1/391,390,000 1,430,782 
Roseville Special Tax, (City of Roseville CA Villages at Sierra Vista Community Facilities District 1), 5.00%, 9/1/443,230,000 3,294,231 
Roseville Special Tax, (City of Roseville CA Villages at Sierra Vista Community Facilities District 1), 4.00%, 9/1/45495,000 460,360 
Roseville Special Tax, (City of Roseville CA Villages at Sierra Vista Community Facilities District 1), 4.00%, 9/1/50650,000 572,265 
Roseville Special Tax, (City of Roseville CA Westbrook Community Facilities District No. 1), 5.00%, 9/1/432,840,000 2,875,473 
Roseville Special Tax, (City of Roseville CA Westbrook Community Facilities District No. 1), 5.00%, 9/1/441,650,000 1,650,733 
Roseville Special Tax, (City of Roseville CA Westbrook Community Facilities District No. 1), 5.00%, 9/1/442,950,000 3,001,502 
Sacramento Special Tax, (City of Sacramento CA Natomas Central Community Facilities District No. 2006-2), 5.00%, 9/1/411,900,000 1,903,662 
Sacramento Special Tax, (City of Sacramento CA Natomas Meadows Cmnty Facs District No. 2007-1 Area No. 1), 5.00%, 9/1/47(1)
1,900,000 1,903,044 
Sacramento Special Tax, (Sacramento Greenbriar Community Facs District No. 2018-03 Area No. 2), 5.00%, 9/1/491,000,000 1,014,048 
Sacramento County Special Tax, (County of Sacramento CA Community Facilities District No. 2004-1), 5.00%, 9/1/301,170,000 1,191,254 
Sacramento County Special Tax, (County of Sacramento CA Community Facilities District No. 2004-1), 5.00%, 9/1/311,355,000 1,378,592 
Sacramento County Special Tax, (County of Sacramento CA Community Facilities District No. 2004-1), 5.00%, 9/1/352,335,000 2,367,156 
Sacramento County Special Tax, (County of Sacramento CA Community Facilities District No. 2004-1), 5.00%, 9/1/403,000,000 3,027,334 


Sacramento County Special Tax, (County of Sacramento CA Community Facilities District No. 2005-2), 5.00%, 9/1/402,325,000 2,330,301 
Sacramento County Airport System Rev., 5.25%, 7/1/543,250,000 3,450,276 
Sacramento Municipal Utility District Rev., 5.00%, 8/15/484,000,000 4,250,780 
Salinas Union High School District GO, 4.00%, 8/1/475,000,000 4,908,563 
San Bernardino County Special Tax, (County of San Bernardino CA Community Facilities District No. 2006-1 Area No. 5), 4.00%, 9/1/42700,000 649,420 
San Bernardino County Special Tax, (County of San Bernardino CA Community Facilities District No. 2006-1 Area No. 5), 4.00%, 9/1/481,000,000 853,481 
San Diego County Special Tax, (County of San Diego CA Community Facilities District No. 2008-01 Area No. 1), 4.00%, 9/1/431,255,000 1,186,322 
San Diego County Special Tax, (County of San Diego CA Community Facilities District No. 2008-01 Area No. 1), 4.00%, 9/1/481,250,000 1,107,945 
San Diego County Regional Airport Authority Rev., 5.00%, 7/1/363,750,000 3,992,877 
San Diego County Regional Airport Authority Rev., 5.00%, 7/1/392,000,000 2,112,431 
San Diego Unified School District GO, 4.125%, 7/1/50500,000 491,132 
San Diego Unified School District GO, 4.00%, 7/1/531,750,000 1,656,481 
San Diego Unified School District GO, 4.00%, 7/1/541,000,000 943,930 
San Francisco City & County Airport Commission-San Francisco International Airport Rev., 5.00%, 5/1/434,000,000 4,343,232 
San Francisco City & County Airport Commission-San Francisco International Airport Rev., 5.00%, 5/1/491,000,000 1,056,770 
San Francisco City & County Airport Commission-San Francisco International Airport Rev., 5.00%, 5/1/56(4)
1,500,000 1,578,447 
San Francisco City & County Redevelopment Agency Successor Agency Tax Allocation, (Mission Bay South Redevelopment Area Tax Increment Financing District), 5.00%, 8/1/33780,000 780,720 
San Francisco City & County Redevelopment Successor Agency Tax Allocation, 5.25%, 8/1/53 (AG)1,000,000 1,061,870 
San Francisco Public Utilities Commission Water Rev., 5.25%, 11/1/526,665,000 7,100,698 
San Joaquin Hills Transportation Corridor Agency Rev., 5.25%, 1/15/44955,000 955,568 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/29 (NPFG)(2)
165,000 151,952 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/31 (NPFG)(2)
16,000,000 13,813,437 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/32 (NPFG)(2)
290,000 241,592 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/36 (NPFG)(2)
1,335,000 947,927 
San Jose Rev., (Berryessa Affordable Housing LP), VRN, 3.05%, 5/1/661,440,000 1,440,005 
San Jose Rev., (La Moraga San Jose LP), 3.90%, 10/1/35 (FNMA)2,435,000 2,481,151 
San Rafael City Elementary School District GO, 4.00%, 8/1/542,445,000 2,307,656 
Saugus/Hart School Facilities Financing Authority Special Tax, (Saugus/Hart School Facilities Financing Authority Community Facs Dist No. 2006-1), 5.00%, 9/1/461,250,000 1,250,932 
Silicon Valley Tobacco Securitization Authority Rev., Capital Appreciation, 0.00%, 6/1/36(2)
22,000,000 12,633,130 
Silicon Valley Tobacco Securitization Authority Rev., Capital Appreciation, 0.00%, 6/1/41(2)
11,465,000 4,385,725 
Simi Valley Unified School District GO, 5.25%, 8/1/515,000,000 5,217,885 
South San Francisco Special Tax, (City of South San Francisco CA Community Facilities District No. 2021-01), 4.00%, 9/1/441,000,000 928,117 
South San Francisco Special Tax, (City of South San Francisco CA Community Facilities District No. 2021-01), 5.125%, 9/1/50925,000 946,960 
South San Francisco Special Tax, (City of South San Francisco CA Community Facilities District No. 2021-01), 5.00%, 9/1/522,200,000 2,214,626 
South San Francisco Special Tax, (City of South San Francisco CA Community Facilities District No. 2021-01), 5.25%, 9/1/551,600,000 1,643,491 
South Tahoe Joint Powers Financing Authority Rev., (City of South Lake Tahoe CA), 5.25%, 10/1/533,000,000 3,185,765 
Southern California Public Power Authority Rev., 5.00%, 11/1/28 (GA: Goldman Sachs Group, Inc.)2,150,000 2,226,022 
Southern California Public Power Authority Rev., 5.00%, 11/1/33 (GA: Goldman Sachs Group, Inc.)3,755,000 4,011,914 
Southern California Public Power Authority Rev., (Los Angeles Department of Water & Power Power System), 5.00%, 7/1/485,750,000 5,936,839 
Southern California Public Power Authority Rev., (Los Angeles Department of Water & Power Power System), 5.00%, 7/1/5310,000,000 10,241,933 
Southern California Public Power Authority Rev., (Los Angeles Department of Water & Power Power System), 5.25%, 7/1/535,250,000 5,474,362 
Southern California Public Power Authority Rev., (Los Angeles Department of Water & Power Power System), VRN, 5.00%, 7/1/533,850,000 4,031,071 
Southern Mono Health Care District GO, Capital Appreciation, 0.00%, 8/1/26 (NPFG)(2)
1,800,000 1,790,965 
State of California GO, 5.25%, 8/1/441,070,000 1,192,691 
State of California GO, 5.25%, 9/1/535,000,000 5,335,476 


State of California GO, 5.00%, 3/1/554,000,000 4,216,980 
Stockton Community Facilities District Special Tax, (City of Stockton CA Community Facilities District No. 2018-2 Area No. 1), 4.00%, 9/1/451,115,000 994,513 
Stockton Community Facilities District Special Tax, (City of Stockton CA Community Facilities District No. 2018-2 Area No. 1), 4.00%, 9/1/501,500,000 1,269,193 
Stockton Community Facilities District Special Tax, (Stockton Community Facilities District No. 2018-2 Area No. 4), 5.00%, 9/1/451,220,000 1,249,038 
Stockton Public Financing Authority Rev., (City of Stockton CA Arch Road East Community Facilities District No. 99-02), 5.00%, 9/1/372,500,000 2,563,905 
Stockton Public Financing Authority Rev., (City of Stockton CA Arch Road East Community Facilities District No. 99-02), 5.00%, 9/1/433,000,000 3,039,397 
Sulphur Springs Union School District Special Tax, (Sulphur Springs School District Community Facilities District No. 2006-1), 5.00%, 9/1/471,820,000 1,827,736 
Sulphur Springs Union School District Special Tax, (Sulphur Springs Union School District Community Facilities District No. 2019-1), 5.00%, 9/1/391,300,000 1,384,320 
Sulphur Springs Union School District Special Tax, (Sulphur Springs Union School District Community Facilities District No. 2019-1), 5.00%, 9/1/442,155,000 2,226,149 
Sunnyvale Special Tax, (City of Sunnyvale CA Community Facilities District No. 1), 7.75%, 8/1/324,725,000 4,740,714 
Tejon Ranch Public Facilities Finance Authority Special Tax, (Tejon Ranch Public Facilities Finance Authority Community Facs Dist No. 2008-1), 5.00%, 9/1/455,000,000 5,001,890 
Tejon Ranch Public Facilities Finance Authority Special Tax, (Tejon Ranch Public Facilities Finance Authority Community Facs Dist No. 2008-1), 4.00%, 9/1/504,750,000 4,163,462 
Temecula Public Financing Authority Special Tax, (Temecula Public Financing Authority-Community Facilities District No. 16-01), Capital Appreciation, 0.00%, 9/1/53(2)
8,730,000 1,727,698 
Temecula Public Financing Authority Special Tax, (Temecula Public Financing
Authority-Community Facilities District No. 20-01), 5.00%, 9/1/49		950,000 961,404 
Temecula Valley Unified School District Community Facilities District Special Tax, (Temecula Valley Unified School District Community Facilities District No. 2014-1), 5.00%, 9/1/431,000,000 1,013,132 
Tobacco Securitization Authority of Northern California Rev., (Sacramento County Tobacco Securitization Corp.), 4.00%, 6/1/491,500,000 1,311,222 
Tobacco Securitization Authority of Northern California Rev., (Sacramento County Tobacco Securitization Corp.), Capital Appreciation, 0.00%, 6/1/60(2)
5,000,000 811,530 
Tobacco Securitization Authority of Southern California Rev., (San Diego County Tobacco Asset Securitization Corp.), 5.00%, 6/1/482,175,000 2,147,994 
Tobacco Securitization Authority of Southern California Rev., (San Diego County Tobacco Asset Securitization Corp.), Capital Appreciation, 0.00%, 6/1/46(2)
25,000,000 3,781,125 
Tracy Community Facilities District Special Tax, (City of Tracy CA Community Facilities District No. 2016-01 Improvement Area No. 1), 5.00%, 9/1/432,750,000 2,784,349 
Tracy Community Facilities District Special Tax, (City of Tracy CA Community Facilities District No. 2016-01 Improvement Area No. 1), 5.00%, 9/1/482,500,000 2,513,042 
Tracy Community Facilities District Special Tax, (City of Tracy CA Community Facilities District No. 2016-01 Improvement Area No. 2), 5.75%, 9/1/481,900,000 2,006,879 
Tracy Community Facilities District Special Tax, (City of Tracy CA Community Facilities District No. 2016-01 Improvement Area No. 2), 5.875%, 9/1/532,900,000 3,060,433 
Transbay Joint Powers Authority Tax Allocation, (Transbay Joint Powers Authority Transbay Redevelopment Project Tax Increment), 5.00%, 10/1/456,390,000 6,458,563 
University of California Rev., 5.00%, 5/15/422,500,000 2,637,603 
University of California Rev., 5.00%, 5/15/534,000,000 4,228,432 
University of California Rev., VRDN, 2.30%, 6/1/26600,000 600,000 
University of California Rev., VRDN, 2.35%, 6/1/261,935,000 1,935,000 
Upland COP, (San Antonio Regional Hospital Obligated Group), 4.00%, 1/1/423,305,000 3,055,644 
Upland COP, (San Antonio Regional Hospital Obligated Group), 5.00%, 1/1/472,500,000 2,507,807 
Vacaville Special Tax, (City of Vacaville CA-Community Facilities District No. 13 Improvement Area 1), 5.125%, 9/1/501,225,000 1,232,248 
Vacaville Special Tax, (City of Vacaville CA-Community Facilities District No. 13 Improvement Area 1), 5.25%, 9/1/551,480,000 1,498,238 
Victor Valley Community College District GO, 5.00%, 8/1/513,670,000 3,840,830 
Vista Unified School District GO, 5.25%, 8/1/48 (BAM)4,410,000 4,673,926 
Washington Township Health Care District GO, 5.50%, 8/1/531,115,000 1,201,056 
Washington Township Health Care District Rev., 5.00%, 7/1/26400,000 400,429 
Washington Township Health Care District Rev., 3.25%, 7/1/271,000,000 996,413 
Washington Township Health Care District Rev., 3.50%, 7/1/28750,000 746,822 
Washington Township Health Care District Rev., 3.75%, 7/1/291,000,000 998,845 


Washington Township Health Care District Rev., 5.75%, 7/1/48850,000 896,958 
Washington Township Health Care District Rev., 5.75%, 7/1/531,000,000 1,036,560 
West Contra Costa Unified School District GO, 4.00%, 8/1/54 (BAM)1,325,000 1,244,325 
West Sacramento Enhanced Infrastructure Financing District No. 1 Tax Allocation, 5.00%, 9/1/50 (AG)5,000,000 5,224,431 
West Sacramento Enhanced Infrastructure Financing District No. 1 Tax Allocation, 5.00%, 9/1/55 (AG)5,000,000 5,179,358 
William S Hart Union High School District Special Tax, (William S Hart Union High School District Cmnty Facs Dist No. 2021-1 Impt Area A), 5.00%, 9/1/49750,000 755,958 
William S Hart Union High School District Special Tax, (William S Hart Union High School District Cmnty Facs Dist No. 2021-1 Impt Area A), 5.00%, 9/1/54885,000 887,455 
William S Hart Union High School District Special Tax, (William S Hart Union High School District Community Facilities Dist No. 2015-1), 5.00%, 9/1/421,350,000 1,352,471 
William S Hart Union High School District Special Tax, (William S Hart Union High School District Community Facilities Dist No. 2015-1), 5.00%, 9/1/472,350,000 2,352,695 
Woodland Special Tax, (City of Woodland CA Community Facilities District No. 2004-1), 4.00%, 9/1/412,485,000 2,378,254 
Woodland Special Tax, (City of Woodland CA Community Facilities District No. 2004-1), 4.00%, 9/1/452,485,000 2,290,080 
Yorba Linda Water District Public Financing Corp. Rev., 4.00%, 10/1/523,750,000 3,576,993 
1,581,938,263 
Guam — 0.7%
Guam Government Waterworks Authority Rev., 5.00%, 7/1/361,755,000 1,778,895 
Guam Government Waterworks Authority Rev., 5.00%, 7/1/371,500,000 1,519,043 
Guam Government Waterworks Authority Rev., 5.00%, 1/1/501,750,000 1,778,607 
Guam Government Waterworks Authority Rev., (Guam Government Waterworks Authority Water And Wastewater System), 5.25%, 7/1/502,750,000 2,830,680 
Guam Power Authority Rev., 5.00%, 10/1/301,005,000 1,064,507 
Port Authority of Guam Government Rev., 5.00%, 7/1/481,500,000 1,508,071 
Territory of Guam Rev., 5.00%, 1/1/351,200,000 1,312,861 
11,792,664 
Puerto Rico — 1.9%
Children's Trust Fund Rev., 0.00%, 5/15/50(2)
20,000,000 4,172,850 
Puerto Rico GO, 5.625%, 7/1/29201,036 211,343 
Puerto Rico GO, 5.75%, 7/1/31195,264 211,495 
Puerto Rico GO, 4.00%, 7/1/331,003,023 1,005,377 
Puerto Rico GO, 4.00%, 7/1/35166,436 166,035 
Puerto Rico GO, 4.00%, 7/1/37142,845 141,206 
Puerto Rico GO, 4.00%, 7/1/41194,215 185,105 
Puerto Rico GO, 4.00%, 7/1/463,601,981 3,194,665 
Puerto Rico GO, Capital Appreciation, 0.00%, 7/1/33(2)
238,285 173,908 
Puerto Rico GO, VRN, 0.00%, 11/1/43713,210 493,007 
Puerto Rico GO, VRN, 0.00%, 11/1/511,976,220 1,247,489 
Puerto Rico Sales Tax Financing Corp. Sales Tax Rev., 4.33%, 7/1/4012,800,000 12,763,702 
Puerto Rico Sales Tax Financing Corp. Sales Tax Rev., Capital Appreciation, 0.00%, 7/1/46(2)
10,211,000 3,727,180 
Puerto Rico Sales Tax Financing Corp. Sales Tax Rev., Capital Appreciation, 0.00%, 7/1/51(2)
15,092,000 4,053,353 
31,746,715 
U.S. Virgin Islands — 0.3%
Virgin Islands Hotel Development Financing Corp. Rev., (CFC-FR LLC), 6.00%, 12/1/554,900,000 4,938,926 
TOTAL MUNICIPAL SECURITIES
(Cost $1,661,044,164)
1,630,416,568 
AFFILIATED FUNDS(7) — 0.5%
American Century California Municipal Bond ETF
(Cost $8,122,137)		160,300 8,055,091 
WARRANTS — 0.0%
Ground Transportation — 0.0%
BL Train Holdings West LLC(6)
(Cost $—)
72,088 216,264 
TOTAL INVESTMENT SECURITIES — 99.7%
(Cost $1,669,166,301)
1,638,687,923 
OTHER ASSETS AND LIABILITIES — 0.3%4,785,002 
TOTAL NET ASSETS — 100.0%$1,643,472,925 



NOTES TO SCHEDULE OF INVESTMENTS
AG–Assured Guaranty, Inc.
AMBAC–American Municipal Bond Assurance Corp.
BAM–Build America Mutual Assurance Corp.
BAM-TCRS–Build America Mutual Assurance Corp. - Transferrable Custodial Receipts
COP–Certificates of Participation
FHLMC–Federal Home Loan Mortgage Corp.
FNMA–Federal National Mortgage Association
GA–Guaranty Agreement
GO–General Obligation
HUD–Housing and Urban Development
LOC–Letter of Credit
NPFG–National Public Finance Guarantee Corp.
SEQ–Sequential Payer
ST INTERCEPT–State Intercept
VRDN–Variable Rate Demand Note. The instrument may be payable upon demand and adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The date of the demand feature is disclosed.
VRN–Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown.

(1)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $322,766,405, which represented 19.6% of total net assets.
(2)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.
(3)Escrowed to maturity in U.S. government securities or state and local government securities.
(4)When-issued security. The issue price and yield are fixed on the date of the commitment, but payment and delivery are scheduled for a future date.
(5)Security is in default.
(6)Non-income producing.
(7)Investments are funds within the American Century Investments family of funds and are considered affiliated funds.


SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS 

1. Investment Valuations

The fund determines the fair value of its investments and computes its net asset value (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

Fixed income securities are valued at the evaluated mean as provided by independent pricing services or at the mean of the most recent bid and asked prices as provided by investment dealers. Municipal securities are valued using market models that consider trade data, quotations from dealers and active market makers, relevant yield curve and spread data, creditworthiness, trade data or market information on comparable securities, and other relevant security specific information.

Equity securities that are listed or traded on a domestic securities exchange are valued at the last reported sales price or at the official closing price as provided by the exchange. Equity securities traded on foreign securities exchanges are generally valued at the closing price of such securities on the exchange where primarily traded or at the close of the NYSE, if that is earlier. If no last sales price is reported, or if local convention or regulation so provides, the mean of the latest bid and asked prices may be used. Securities traded over-the-counter are valued at the mean of the latest bid and asked prices, the last sales price, or the official closing price.

Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.

If the valuation designee determines that the market price for a portfolio security is not readily available or is believed by the valuation designee to be unreliable, such security is valued at fair value as determined in good faith by the valuation designee, in accordance with its policies and procedures. Circumstances that may cause a fund to determine that market quotations are not available or reliable include, but are not limited to: when there is a significant event subsequent to the market quotation; trading in a security has been halted during the trading day; or trading in a security is insufficient or did not take place due to a closure or holiday.

The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region. The valuation designee also monitors for significant fluctuations between domestic and foreign markets, as evidenced by the U.S. market or such other indicators that it deems appropriate. The valuation designee may apply a model-derived factor to the closing price of equity securities traded on foreign securities exchanges. The factor is based on observable market data as provided by an independent pricing service.

2. Fair Value Measurements

The fund's investments valuation process is based on several considerations and may use multiple inputs to determine the fair value of the investments held by the fund. In conformity with accounting principles generally accepted in the United States of America, the inputs used to determine a valuation are classified into three broad levels. 

•Level 1 valuation inputs consist of unadjusted quoted prices in an active market for identical investments.

•Level 2 valuation inputs consist of direct or indirect observable market data (including quoted prices for comparable investments, evaluations of subsequent market events, interest rates, prepayment speeds, credit risk, etc.). These inputs also consist of quoted prices for identical investments initially expressed in local currencies that are adjusted through translation into U.S. dollars. 

•Level 3 valuation inputs consist of unobservable data (including a fund’s own assumptions).

The level classification is based on the lowest level input that is significant to the fair valuation measurement. The valuation inputs are not necessarily an indication of the risks associated with investing in these securities or other financial instruments.



The following is a summary of the level classifications as of period end. The Schedule of Investments provides additional information on the fund's portfolio holdings.

Level 1
Level 2
Level 3
Assets
Investment Securities
Municipal Securities
— $1,630,416,568 — 
Affiliated Funds
$8,055,091 — — 
Warrants
— 216,264 — 
$8,055,091 $1,630,632,832 — 

3. Affiliated Fund Transactions

A summary of transactions for each affiliated fund for the period ended May 31, 2026 follows (amounts in thousands):
Affiliated Fund(1)
Beginning
Value		Purchase
Cost		Sales
Cost		Change in Net
Unrealized
Appreciation
(Depreciation)
Ending
Value
Ending
Shares		Net Realized
Gain (Loss)
Distributions
Received(2)
American Century California Municipal Bond ETF$7,813 — — $242 $8,055 160 — $219 

(1)Investments are funds within the American Century Investments family of funds and are considered affiliated funds. Additional information and attributes of each affiliated fund are available at americancentury.com.
(2)Distributions received includes distributions from net investment income and from capital gains, if any.
This schedule of investments provides information about the fund’s portfolio holdings as of the date on the schedule. It is unaudited, and American Century Investments assumes no obligation to update or supplement the schedule to reflect subsequent changes. More information is available in the fund’s most recent annual or semiannual financial statements.