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PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments
January 31,
2021
(Unaudited)
|
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| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — 97.5% |
|
| Arizona — 2.6% |
|
| Phoenix Civic Improvement Corp. Revenue, Civic Plaza, Convertible CAB, OID, Series
B,
5.50%, 07/01/31, (NATL-RE Insured) |
|
|
5,000,000 |
|
|
|
6,995,600 |
|
|
|
|
|
|
|
|
|
|
| California — 1.7% |
|
| Norwalk-La Mirada Unified School District GO, CAB, OID,
Series
B,
0.00%, 08/01/27, (AGM-CR, FGIC Insured)(b) |
|
|
5,000,000 |
|
|
|
4,683,800 |
|
|
|
|
|
|
|
|
|
|
| Hawaii — 91.2% |
|
| Hawaii County GO, Series A, Refunding, Callable 03/01/27 at 100,
5.00%, 09/01/31 |
|
|
5,045,000 |
|
|
|
6,288,441 |
|
| Hawaii County GO, Series A, Refunding, Callable 03/01/27 at 100,
5.00%, 09/01/34 |
|
|
4,775,000 |
|
|
|
5,897,412 |
|
| Hawaii County GO, Series A, Refunding, Callable 09/01/30 at 100,
4.00%, 09/01/40 |
|
|
1,000,000 |
|
|
|
1,219,460 |
|
| Hawaii Housing Finance & Development Corp. Revenue, Multi-Family Housing, Iwilei Apartments, Series
A, Callable 07/01/22 at 100,
3.75%, 01/01/31 |
|
|
3,120,000 |
|
|
|
3,229,793 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii Housing Finance & Development Corp. Revenue, Series B, Callable 07/01/21 at 100,
3.88%,
07/01/25, (GNMA/FNMA/FHLMC Insured) |
|
|
1,140,000 |
|
|
|
1,153,600 |
|
| Hawaii State Airports System Revenue, AMT, OID, Callable 08/01/23 at 100,
5.00%, 08/01/28 |
|
|
400,000 |
|
|
|
437,188 |
|
| Hawaii State Airports System Revenue, AMT, Refunding, Callable 07/01/21 at 100,
5.00%, 07/01/23 |
|
|
500,000 |
|
|
|
511,090 |
|
| Hawaii State Airports System Revenue, Series A, AMT, Callable 07/01/28 at 100,
5.00%, 07/01/31 |
|
|
1,275,000 |
|
|
|
1,610,108 |
|
| Hawaii State Airports System Revenue, Series A, AMT, Callable 07/01/28 at
100,
5.00%, 07/01/33 |
|
|
500,000 |
|
|
|
626,030 |
|
| Hawaii State Airports System Revenue, Series A, AMT, Callable 07/01/30 at
100,
4.00%, 07/01/35 |
|
|
2,000,000 |
|
|
|
2,374,400 |
|
| Hawaii State Airports System Revenue, Series A, AMT, Callable 07/01/25 at
100,
5.00%, 07/01/41 |
|
|
4,000,000 |
|
|
|
4,601,880 |
|
| Hawaii State Airports System Revenue, Series A, AMT, Callable 07/01/28 at
100,
5.00%, 07/01/48 |
|
|
1,500,000 |
|
|
|
1,819,230 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
1
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Continued)
January 31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaii Pacific Health Obligation, OID,
Refunding, 4.00%, 07/01/23 |
|
|
500,000 |
|
|
|
543,480 |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaii Pacific Health Obligation, Refunding,
Callable 07/01/23 at 100, 5.00%, 07/01/26 |
|
|
1,330,000 |
|
|
|
1,468,200 |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaiian Electric Company, AMT, MWC, Callable
10/01/24 at 100,
3.50%, 10/01/49 |
|
|
2,750,000 |
|
|
|
2,884,970 |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaiian Electric Company, AMT, MWC,
Refunding,
3.10%, 05/01/26 |
|
|
3,500,000 |
|
|
|
3,873,975 |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaiian Electric Company, AMT, MWC, Refunding,
Callable 03/01/27 at 100,
4.00%, 03/01/37 |
|
|
1,515,000 |
|
|
|
1,697,603 |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaiian Electric Company, MWC, Refunding,
Callable 07/01/29 at 100,
3.20%, 07/01/39 |
|
|
4,200,000 |
|
|
|
4,608,240 |
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|
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| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State Department of Budget & Finance Revenue,
Mid-Pacific Projects, Refunding,
4.00%, 01/01/30 |
|
|
225,000 |
|
|
|
257,877 |
|
| Hawaii State Department of Budget & Finance Revenue,
Mid-Pacific Projects, Refunding, Callable 01/01/30 at 100,
4.00%, 01/01/31 |
|
|
250,000 |
|
|
|
284,472 |
|
| Hawaii State Department of Budget & Finance Revenue, Queens Health System, Series A, Refunding,
Callable 07/01/25 at 100,
5.00%, 07/01/35 |
|
|
10,000,000 |
|
|
|
11,621,100 |
|
| Hawaii State Department of Budget & Finance Revenue, Special Purpose Revenue, Kahala Nui, Refunding,
Callable 11/15/22 at 100,
5.00%, 11/15/27 |
|
|
1,790,000 |
|
|
|
1,926,684 |
|
| Hawaii State Department of Budget & Finance Revenue, Special Purpose Revenue, Kahala Nui, Refunding,
Callable 11/15/22 at 100,
5.13%, 11/15/32 |
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|
550,000 |
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|
588,324 |
|
| Hawaii State Department of Hawaiian Home Lands Revenue, Refunding,
5.00%, 04/01/21 |
|
|
20,000 |
|
|
|
20,158 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
2
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Continued)
January 31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State Department of Hawaiian Home Lands Revenue, Refunding,
5.00%, 04/01/24 |
|
|
500,000 |
|
|
|
573,320 |
|
| Hawaii State Department of Hawaiian Home Lands Revenue, Refunding, Callable 04/01/27 at 100,
5.00%,
04/01/28 |
|
|
945,000 |
|
|
|
1,187,109 |
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| Hawaii State Department of Hawaiian Home Lands Revenue, Refunding, Callable 04/01/27 at 100,
5.00%,
04/01/32 |
|
|
335,000 |
|
|
|
413,239 |
|
| Hawaii State Department of Hawaiian Home Lands, Kapolei Office Facility, Series A, Refunding, Callable
11/01/27 at 100,
5.00%, 11/01/28 |
|
|
1,170,000 |
|
|
|
1,496,652 |
|
| Hawaii State Department of Hawaiian Home Lands, Kapolei Office Facility, Series A, Refunding, Callable
11/01/27 at 100,
5.00%, 11/01/30 |
|
|
800,000 |
|
|
|
1,012,368 |
|
| Hawaii State Department of Hawaiian Home Lands, Kapolei Office Facility, Series A, Refunding, Callable
11/01/27 at 100,
5.00%, 11/01/31 |
|
|
815,000 |
|
|
|
1,024,447 |
|
| Hawaii State GO, Series DZ, Prerefunded 12/01/21 at 100,
5.00%, 12/01/22 |
|
|
155,000 |
|
|
|
161,251 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State GO, Series DZ, Prerefunded 12/01/21 at 100,
5.00%, 12/01/25 |
|
|
895,000 |
|
|
|
931,095 |
|
| Hawaii State GO, Series DZ, Prerefunded 12/01/21 at 100,
5.00%, 12/01/27 |
|
|
1,120,000 |
|
|
|
1,165,170 |
|
| Hawaii State GO, Series DZ, Prerefunded 12/01/21 at 100,
5.00%, 12/01/27 |
|
|
805,000 |
|
|
|
837,466 |
|
| Hawaii State GO, Series DZ, Prerefunded 12/01/21 at 100,
5.00%, 12/01/30 |
|
|
805,000 |
|
|
|
837,466 |
|
| Hawaii State GO, Series DZ, Prerefunded 12/01/21 at 100,
5.00%, 12/01/31 |
|
|
1,730,000 |
|
|
|
1,799,771 |
|
| Hawaii State GO, Series DZ, Unrefunded portion, Callable 12/01/21 at 100,
5.00%, 12/01/29 |
|
|
300,000 |
|
|
|
312,225 |
|
| Hawaii State GO, Series DZ, Unrefunded portion, Callable 12/01/21 at 100,
5.00%, 12/01/30 |
|
|
1,235,000 |
|
|
|
1,285,326 |
|
| Hawaii State GO, Series DZ, Unrefunded portion, Prerefunded, Callable 12/01/21 at 100,
5.00%,
12/01/31 |
|
|
1,095,000 |
|
|
|
1,139,621 |
|
| Hawaii State GO, Series EE, Prerefunded 11/01/22 at 100,
5.00%, 11/01/24 |
|
|
55,000 |
|
|
|
59,704 |
|
| Hawaii State GO, Series EE, Prerefunded 11/01/22 at 100,
5.00%, 11/01/26 |
|
|
90,000 |
|
|
|
97,697 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
3
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State GO, Series EE, Prerefunded 11/01/22 at 100,
5.00%, 11/01/27 |
|
|
1,000,000 |
|
|
|
1,085,520 |
|
| Hawaii State GO, Series EE, Prerefunded 11/01/22 at 100,
5.00%, 11/01/27 |
|
|
90,000 |
|
|
|
97,697 |
|
| Hawaii State GO, Series EE, Prerefunded 11/01/22 at 100,
5.00%, 11/01/28 |
|
|
740,000 |
|
|
|
803,285 |
|
| Hawaii State GO, Series EE, Prerefunded 11/01/22 at 100,
5.00%, 11/01/28 |
|
|
20,000 |
|
|
|
21,710 |
|
| Hawaii State GO, Series EE, Unrefunded portion, Callable 11/01/22 at 100,
5.00%, 11/01/24 |
|
|
100,000 |
|
|
|
108,552 |
|
| Hawaii State GO, Series EE, Unrefunded portion, Callable 11/01/22 at 100,
5.00%, 11/01/26 |
|
|
1,365,000 |
|
|
|
1,481,735 |
|
| Hawaii State GO, Series EE, Unrefunded portion, Callable 11/01/22 at 100,
5.00%, 11/01/27 |
|
|
345,000 |
|
|
|
374,504 |
|
| Hawaii State GO, Series EE, Unrefunded portion, Callable 11/01/22 at 100,
5.00%, 11/01/28 |
|
|
340,000 |
|
|
|
369,077 |
|
| Hawaii State GO, Series EH, Prerefunded 08/01/23 at 100,
5.00%, 08/01/24 |
|
|
305,000 |
|
|
|
341,533 |
|
| Hawaii State GO, Series EH, Prerefunded, ETM,
5.00%, 08/01/23 |
|
|
445,000 |
|
|
|
498,302 |
|
|
|
|
|
|
|
|
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| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State GO, Series EH, Prerefunded, ETM,
5.00%, 08/01/23 |
|
|
120,000 |
|
|
|
134,374 |
|
| Hawaii State GO, Series EH, Unrefunded portion,
5.00%, 08/01/23 |
|
|
345,000 |
|
|
|
386,514 |
|
| Hawaii State GO, Series EH, Unrefunded portion, Callable 08/01/23 at 100,
5.00%, 08/01/24 |
|
|
895,000 |
|
|
|
1,002,212 |
|
| Hawaii State GO, Series EL, Refunding,
5.00%, 08/01/23 |
|
|
1,000,000 |
|
|
|
1,120,330 |
|
| Hawaii State GO, Series EO, Callable 08/01/24 at 100,
5.00%, 08/01/32 |
|
|
1,285,000 |
|
|
|
1,481,464 |
|
| Hawaii State GO, Series EO, Prerefunded 08/01/24 at 100,
5.00%, 08/01/26 |
|
|
140,000 |
|
|
|
163,300 |
|
| Hawaii State GO, Series EO, Unrefunded portion, Callable 08/01/24 at 100,
5.00%, 08/01/26 |
|
|
2,660,000 |
|
|
|
3,095,868 |
|
| Hawaii State GO, Series EP, Refunding,
5.00%, 08/01/24 |
|
|
1,000,000 |
|
|
|
1,167,290 |
|
| Hawaii State GO, Series EY, Refunding, Callable 10/01/25 at 100,
5.00%, 10/01/27 |
|
|
3,040,000 |
|
|
|
3,678,552 |
|
| Hawaii State GO, Series EZ, Refunding,
5.00%, 10/01/21 |
|
|
340,000 |
|
|
|
351,169 |
|
| Hawaii State GO, Series FB,
5.00%, 04/01/25 |
|
|
5,000,000 |
|
|
|
5,978,750 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
4
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State GO, Series FB, Callable 04/01/26 at 100,
4.00%, 04/01/29 |
|
|
2,000,000 |
|
|
|
2,329,420 |
|
| Hawaii State GO, Series FG, Callable 10/01/26 at 100,
5.00%, 10/01/30 |
|
|
10,000,000 |
|
|
|
12,438,200 |
|
| Hawaii State GO, Series FG, Callable 10/01/26 at 100,
4.00%, 10/01/35 |
|
|
1,000,000 |
|
|
|
1,155,970 |
|
| Hawaii State GO, Series FK, Callable 05/01/27 at 100,
5.00%, 05/01/33 |
|
|
2,500,000 |
|
|
|
3,130,100 |
|
| Hawaii State GO, Series FK, Callable 05/01/27 at 100,
4.00%, 05/01/37 |
|
|
2,000,000 |
|
|
|
2,327,160 |
|
| Hawaii State GO, Series FN, Refunding,
5.00%, 10/01/26 |
|
|
2,500,000 |
|
|
|
3,144,450 |
|
| Hawaii State GO, Series FT, Callable 01/01/28 at 100,
5.00%, 01/01/36 |
|
|
4,000,000 |
|
|
|
5,048,280 |
|
| Hawaii State GO, Series FT, Callable 01/01/28 at 100,
5.00%, 01/01/38 |
|
|
1,950,000 |
|
|
|
2,448,732 |
|
| Hawaii State GO, Series FW, Callable 01/01/29 at 100,
4.00%, 01/01/34 |
|
|
2,000,000 |
|
|
|
2,424,360 |
|
| Hawaii State Harbor System Revenue, Series A, AMT, Refunding, Callable 07/01/30 at 100,
4.00%,
07/01/37 |
|
|
5,000,000 |
|
|
|
6,008,950 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State Highway Fund Revenue, Series A, Callable 07/01/24 at 100,
5.00%, 01/01/31 |
|
|
1,085,000 |
|
|
|
1,249,063 |
|
| Hawaii State Highway Fund Revenue, Series A, Callable 01/01/29 at 100,
5.00%, 01/01/37 |
|
|
3,500,000 |
|
|
|
4,469,325 |
|
| Hawaii State Highway Fund Revenue, Series A, Prerefunded 01/01/22 at 100,
5.00%, 01/01/27 |
|
|
5,490,000 |
|
|
|
5,736,172 |
|
| Hawaii State Highway Fund Revenue, Series A, Prerefunded 01/01/22 at 100,
5.00%, 01/01/28 |
|
|
1,120,000 |
|
|
|
1,170,221 |
|
| Hawaii State Highway Fund Revenue, Series B, Refunding, Callable 07/01/26 at 100,
5.00%, 01/01/29 |
|
|
5,000,000 |
|
|
|
6,190,100 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Callable 07/01/30 at
100,
4.00%, 07/01/35 |
|
|
1,770,000 |
|
|
|
2,203,420 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Refunding, Callable 07/01/24
at 100,
5.00%, 07/01/25 |
|
|
1,500,000 |
|
|
|
1,741,785 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
5
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
|
| MUNICIPAL BONDS — (Continued) |
|
|
|
|
|
| Hawaii — (Continued) |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Refunding, Callable 07/01/22
at 100,
5.00%, 07/01/25 |
|
|
250,000 |
|
|
|
267,302 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Refunding, Callable 07/01/22
at 100, 5.00%, 07/01/26 |
|
|
3,125,000 |
|
|
|
3,341,281 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Refunding, Callable 07/01/24
at 100, 5.00%, 07/01/27 |
|
|
850,000 |
|
|
|
985,745 |
|
| Honolulu City & County GO,
Series A, Callable 11/01/22 at 100,
5.00%, 11/01/25 |
|
|
1,355,000 |
|
|
|
1,470,880 |
|
| Honolulu City & County GO,
Series A, Callable 11/01/22 at 100,
5.00%, 11/01/26 |
|
|
1,000,000 |
|
|
|
1,085,520 |
|
| Honolulu City & County GO,
Series A, Callable 10/01/25 at 100,
5.00%, 10/01/31 |
|
|
2,175,000 |
|
|
|
2,615,111 |
|
| Honolulu City & County GO,
Series A, Callable 11/01/22 at 100,
5.00%, 11/01/31 |
|
|
450,000 |
|
|
|
488,484 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
|
| MUNICIPAL BONDS — (Continued) |
|
|
|
|
|
| Hawaii — (Continued) |
|
| Honolulu City & County GO,
Series A, Callable 11/01/22 at 100,
5.00%, 11/01/32 |
|
|
1,970,000 |
|
|
|
2,138,474 |
|
| Honolulu City & County GO,
Series A, Callable 10/01/25 at 100,
5.00%, 10/01/35 |
|
|
3,000,000 |
|
|
|
3,588,720 |
|
| Honolulu City & County GO,
Series A, Callable 10/01/25 at 100,
5.00%, 10/01/37 |
|
|
1,000,000 |
|
|
|
1,193,190 |
|
| Honolulu City & County GO,
Series A, Callable 10/01/25 at 100,
5.00%, 10/01/38 |
|
|
1,040,000 |
|
|
|
1,240,387 |
|
| Honolulu City & County GO,
Series A, Callable 10/01/25 at 100,
5.00%, 10/01/39 |
|
|
1,000,000 |
|
|
|
1,191,170 |
|
| Honolulu City & County GO,
Series A, Callable 09/01/27 at 100,
5.00%, 09/01/41 |
|
|
1,235,000 |
|
|
|
1,533,586 |
|
| Honolulu City & County GO,
Series A, ETM,
5.00%, 11/01/22 |
|
|
2,000,000 |
|
|
|
2,171,040 |
|
| Honolulu City & County GO,
Series A, Refunding, Callable 11/01/22 at
100,
4.00%, 11/01/37 |
|
|
1,000,000 |
|
|
|
1,054,750 |
|
| Honolulu City & County GO,
Series B, Callable 11/01/22 at 100,
5.00%, 11/01/23 |
|
|
2,050,000 |
|
|
|
2,224,434 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
6
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Honolulu City & County GO,
Series B, Refunding, 5.00%, 10/01/22 |
|
|
1,000,000 |
|
|
|
1,081,440 |
|
| Honolulu City & County GO,
Series B, Refunding, 5.00%, 10/01/25 |
|
|
2,300,000 |
|
|
|
2,804,551 |
|
| Honolulu City & County GO,
Series B, Refunding, Callable 10/01/25 at 100,
5.00%, 10/01/26 |
|
|
500,000 |
|
|
|
607,870 |
|
| Honolulu City & County GO,
Series B, Refunding, Honolulu Rail Transit Project,
4.00%, 09/01/26 |
|
|
1,215,000 |
|
|
|
1,460,357 |
|
| Honolulu City & County GO,
Series C, Callable 08/01/29 at 100,
4.00%, 08/01/36 |
|
|
1,400,000 |
|
|
|
1,711,234 |
|
| Honolulu City & County GO,
Series C, Callable 07/01/30 at 100,
4.00%, 07/01/39 |
|
|
1,050,000 |
|
|
|
1,290,807 |
|
| Honolulu City & County GO,
Series C, Callable 08/01/29 at 100,
4.00%, 08/01/43 |
|
|
2,000,000 |
|
|
|
2,380,820 |
|
| Honolulu City & County GO,
Series C, Callable 07/01/30 at 100,
5.00%, 07/01/45 |
|
|
500,000 |
|
|
|
655,030 |
|
| Honolulu City & County GO,
Series C, Refunding, Callable 10/01/25 at 100,
5.00%, 10/01/27 |
|
|
2,000,000 |
|
|
|
2,421,140 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Honolulu City & County GO,
Series C, Refunding, Callable 10/01/25 at
100,
5.00%, 10/01/29 |
|
|
4,115,000 |
|
|
|
4,954,007 |
|
| Honolulu City & County GO,
Series E, Refunding, Callable 09/01/27 at
100,
5.00%, 09/01/30 |
|
|
1,500,000 |
|
|
|
1,911,750 |
|
| Honolulu City & County Wastewater System Revenue, 1st Bond Resolution, Series A, Callable 07/01/29
at 100,
4.00%, 07/01/34 |
|
|
2,130,000 |
|
|
|
2,644,374 |
|
| Honolulu City & County Wastewater System Revenue, 1st Bond Resolution, Series B,
Refunding,
5.00%, 07/01/29 |
|
|
250,000 |
|
|
|
337,913 |
|
| Honolulu City & County Wastewater System Revenue, Junior Series A, Refunding, Callable 07/01/25 at
100,
5.00%, 07/01/30 |
|
|
4,000,000 |
|
|
|
4,752,640 |
|
| Honolulu City & County Wastewater System Revenue, Senior 1st Bond Resolution, Refunding, Callable
07/01/25 at 100, 5.00%, 07/01/26 |
|
|
1,000,000 |
|
|
|
1,203,650 |
|
| Honolulu City & County Wastewater System Revenue, Senior 1st Bond Resolution, Refunding, Callable
07/01/25 at 100, 5.00%, 07/01/27 |
|
|
325,000 |
|
|
|
390,078 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
7
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Honolulu City & County Wastewater System Revenue, Senior 1st Bond Resolution, Series A, Callable
07/01/25 at 100,
5.00%, 07/01/29 |
|
|
395,000 |
|
|
|
476,342 |
|
| Honolulu City & County Wastewater System Revenue, Senior 1st Bond Resolution, Series A, Callable
01/01/28 at 100,
5.00%, 07/01/36 |
|
|
2,000,000 |
|
|
|
2,528,240 |
|
| Honolulu City & County Wastewater System Revenue, Senior Series B, Refunding, Callable 07/01/26 at
100, 5.00%, 07/01/35 |
|
|
125,000 |
|
|
|
152,808 |
|
| Kauai County GO,
5.00%, 08/01/23 |
|
|
395,000 |
|
|
|
442,530 |
|
| Kauai County GO,
5.00%, 08/01/27 |
|
|
250,000 |
|
|
|
321,500 |
|
| Kauai County GO,
Callable 08/01/27 at 100, 5.00%, 08/01/31 |
|
|
250,000 |
|
|
|
315,828 |
|
| Kauai County GO,
Callable 08/01/27 at 100, 4.00%, 08/01/33 |
|
|
270,000 |
|
|
|
317,822 |
|
| Kauai County GO,
Callable 08/01/27 at 100, 5.00%, 08/01/42 |
|
|
775,000 |
|
|
|
952,529 |
|
| Kauai County GO,
OID, Series A, Callable 08/01/21 at 100,
3.25%, 08/01/23 |
|
|
1,195,000 |
|
|
|
1,213,594 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Kauai County GO,
OID, Series A, Callable 08/01/22 at 100, 3.13%, 08/01/27 |
|
|
1,300,000 |
|
|
|
1,353,469 |
|
| Kauai County GO,
Series A, Refunding, 5.00%, 08/01/22 |
|
|
400,000 |
|
|
|
429,316 |
|
| Maui County GO,
Refunding,
5.00%, 06/01/21 |
|
|
150,000 |
|
|
|
152,439 |
|
| Maui County GO,
Refunding,
5.00%, 06/01/23 |
|
|
300,000 |
|
|
|
333,723 |
|
| Maui County GO,
Refunding,
5.00%, 09/01/28 |
|
|
975,000 |
|
|
|
1,292,275 |
|
| Maui County GO,
Refunding, Callable 03/01/30 at 100,
3.00%, 03/01/31 |
|
|
500,000 |
|
|
|
584,140 |
|
| Maui County GO,
Refunding, Callable 09/01/28 at 100,
4.00%, 09/01/31 |
|
|
5,305,000 |
|
|
|
6,470,827 |
|
| Maui County GO,
Refunding, Callable 09/01/25 at 100,
3.00%, 09/01/32 |
|
|
195,000 |
|
|
|
210,553 |
|
| University of Hawaii Revenue, Series B, Refunding,
4.00%, 10/01/24 |
|
|
165,000 |
|
|
|
187,725 |
|
| University of Hawaii Revenue, Series B, Refunding, Callable 10/01/25 at 100,
5.00%, 10/01/35 |
|
|
1,000,000 |
|
|
|
1,182,430 |
|
| University of Hawaii Revenue, Series E, Refunding,
5.00%, 10/01/24 |
|
|
3,000,000 |
|
|
|
3,522,600 |
|
| University of Hawaii Revenue, Series E, Refunding, Callable 10/01/26 at 100,
5.00%, 10/01/31 |
|
|
1,000,000 |
|
|
|
1,232,130 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
8
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Securities Fund
Portfolio of Investments (Concluded)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| University of Hawaii Revenue, Series F, Refunding, Callable 10/01/27 at 100,
5.00%, 10/01/36 |
|
|
3,000,000 |
|
|
|
3,757,740 |
|
| University of Hawaii Revenue, Series F, Refunding, Callable 10/01/27 at 100,
5.00%, 10/01/37 |
|
|
2,000,000 |
|
|
|
2,499,380 |
|
|
|
|
|
|
|
|
247,962,763 |
|
| Illinois — 0.4% |
|
| Illinois Municipal Electric Agency Power Supply Revenue, Series C, Refunding,
5.25%, 02/01/21, (NATL-RE Insured) |
|
|
1,000,000 |
|
|
|
1,000,000 |
|
| Texas — 1.6% |
|
| Galveston County GO, CAB, OID, Series RD,
0.00%, 02/01/24,
(NATL-RE Insured)(b) |
|
|
2,630,000 |
|
|
|
2,591,628 |
|
| Houston Combined Utility
System Revenue, Unrefunded Balance CAB, OID, Junior
Series A,
Refunding,
0.00%, 12/01/27, (AGM Insured)(b) |
|
|
2,000,000 |
|
|
|
1,881,660 |
|
|
|
|
|
|
|
|
4,473,288 |
|
| TOTAL MUNICIPAL BONDS
(Cost $244,752,507) |
|
|
|
|
|
|
265,115,451 |
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value ($) |
|
|
| REGISTERED INVESTMENT COMPANY — 1.7% |
|
| Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(a) |
|
|
4,664,483 |
|
|
|
4,664,483 |
|
| TOTAL REGISTERED INVESTMENT COMPANY
(Cost $4,664,483) |
|
|
|
|
|
|
4,664,483 |
|
|
|
|
| TOTAL INVESTMENTS - 99.2%
(Cost $249,416,990) |
|
|
|
|
|
|
269,779,934 |
|
| OTHER ASSETS IN EXCESS OF LIABILITIES - 0.8% |
|
|
|
|
|
|
2,144,507 |
|
|
|
|
|
|
|
|
|
|
| NET ASSETS - 100.0% |
|
|
|
|
|
$ |
271,924,441 |
|
|
|
|
|
|
|
|
|
|
| (a) |
Rate periodically changes. Rate disclosed is the 7-day yield at January 31,
2021. |
Portfolio holdings are subject to change at any time.
|
|
|
| AGM |
|
Assured Guaranty Municipal Corp. |
| AGM-CR |
|
Assured Guaranty Municipal Corp. |
|
|
Custodial Receipts |
| AMT |
|
Alternative Minimum Tax |
| CAB |
|
Capital Appreciation Bond |
| ETM |
|
Escrowed to Maturity |
| FGIC |
|
Financial Guaranty Insurance Co. |
| FHLMC |
|
Federal Home Loan Mortgage Corp. |
| FNMA |
|
Federal National Mortgage Association |
| GNMA |
|
Government National Mortgage Association |
| GO |
|
General Obligation |
| MWC |
|
Make Whole Callable |
| NATL-RE |
|
National Reinsurance Corp. |
| OID |
|
Original Issue Discount |
See accompanying Notes to the
Quarterly Portfolio of Investments.
9
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Short Intermediate Securities Fund
Portfolio of Investments
January 31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — 97.2% |
|
| Arizona — 1.8% |
|
| Tempe City Excise Tax Revenue, Series A, Callable
07/01/21 at 100,
5.00%, 07/01/22 |
|
|
900,000 |
|
|
|
918,243 |
|
| Hawaii — 93.1% |
|
|
|
|
|
|
|
|
| Hawaii County GO, Series A, Callable 03/01/26 at 100,
5.00%, 09/01/26 |
|
|
200,000 |
|
|
|
246,058 |
|
| Hawaii County GO, Series A, Refunding,
5.00%, 09/01/24 |
|
|
320,000 |
|
|
|
373,517 |
|
| Hawaii County GO, Series D, Refunding,
4.00%, 09/01/26 |
|
|
500,000 |
|
|
|
598,825 |
|
| Hawaii State Airports System Revenue, AMT, Callable 08/01/23 at 100,
5.00%, 08/01/27 |
|
|
295,000 |
|
|
|
323,037 |
|
| Hawaii State Airports System Revenue, AMT, ETM, Refunding,
5.00%, 07/01/21 |
|
|
2,000,000 |
|
|
|
2,039,360 |
|
| Hawaii State Airports System Revenue, AMT, OID,
Refunding, Callable
07/01/21 at 100,
4.13%,
07/01/24 |
|
|
500,000 |
|
|
|
507,355 |
|
| Hawaii State Airports System Revenue, Series A, AMT,
5.00%, 07/01/30 |
|
|
1,000,000 |
|
|
|
1,328,800 |
|
| Hawaii State Airports System Revenue, Series B,
5.00%, 07/01/27 |
|
|
1,010,000 |
|
|
|
1,290,760 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaiian Electric Company, AMT, MWC,
Refunding,
3.25%, 01/01/25 |
|
|
500,000 |
|
|
|
544,045 |
|
| Hawaii State Department of Budget & Finance Revenue, Hawaiian Electric Company, AMT, MWC,
Refunding,
3.10%, 05/01/26 |
|
|
2,610,000 |
|
|
|
2,888,878 |
|
| Hawaii State Department of Budget & Finance Revenue, Pacific Health Obligation, Refunding,
5.00%,
07/01/22 |
|
|
320,000 |
|
|
|
340,262 |
|
| Hawaii State Department of Budget & Finance Revenue, Pacific Health Obligation, Refunding,
5.00%,
07/01/22 |
|
|
220,000 |
|
|
|
233,930 |
|
| Hawaii State Department of Budget & Finance Revenue, Pacific Health Obligation, Refunding,
Callable
07/01/23 at 100,
5.00%, 07/01/26 |
|
|
200,000 |
|
|
|
220,782 |
|
| Hawaii State Department of Budget & Finance Revenue, Series A, Queens Health
System,
Refunding,
5.00%, 07/01/21 |
|
|
120,000 |
|
|
|
122,239 |
|
| Hawaii State Department of Budget & Finance Revenue, Series A, Queens Health
System,
Refunding,
5.00%, 07/01/22 |
|
|
255,000 |
|
|
|
271,147 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
10
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Short Intermediate Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State Department of Budget & Finance Revenue, Series A, Queens Health System,
Refunding,
5.00%, 07/01/24 |
|
|
525,000 |
|
|
|
605,740 |
|
| Hawaii State Department of Budget & Finance Revenue, Series A, Queens Health System,
Refunding,
5.00%, 07/01/25 |
|
|
510,000 |
|
|
|
610,388 |
|
| Hawaii State Department of Budget & Finance Revenue, Series A, Queens Health System, Refunding,
Callable 07/01/25 at 100,
5.00%, 07/01/27 |
|
|
550,000 |
|
|
|
654,230 |
|
| Hawaii State GO, Series DZ, Prerefunded, Callable 12/01/21 at 100,
5.00%, 12/01/22 |
|
|
290,000 |
|
|
|
301,696 |
|
| Hawaii State GO, Series DZ, Prerefunded, Callable 12/01/21 at 100,
5.00%, 12/01/23 |
|
|
190,000 |
|
|
|
197,663 |
|
| Hawaii State GO, Series DZ, Prerefunded, Callable 12/01/21 at 100,
5.00%, 12/01/30 |
|
|
1,110,000 |
|
|
|
1,154,766 |
|
| Hawaii State GO, Series DZ, Unrefunded portion, Prerefunded, Callable 12/01/21 at 100,
5.00%,
12/01/31 |
|
|
360,000 |
|
|
|
374,670 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State GO, Series EA, Refunding, Callable
12/01/21 at 100,
5.00%, 12/01/23 |
|
|
1,380,000 |
|
|
|
1,435,296 |
|
| Hawaii State GO, Series EE, ETM,
4.00%, 11/01/22 |
|
|
1,335,000 |
|
|
|
1,425,860 |
|
| Hawaii State GO, Series EE, Prerefunded, Callable
11/01/22 at 100,
5.00%, 11/01/24 |
|
|
45,000 |
|
|
|
48,848 |
|
| Hawaii State GO, Series EE, Prerefunded, Callable
11/01/22 at 100,
5.00%, 11/01/24 |
|
|
25,000 |
|
|
|
27,138 |
|
| Hawaii State GO, Series EE, Prerefunded, Callable
11/01/22 at 100,
5.00%, 11/01/27 |
|
|
785,000 |
|
|
|
852,133 |
|
| Hawaii State GO, Series EF, Refunding, Callable
11/01/22 at 100,
5.00%, 11/01/23 |
|
|
100,000 |
|
|
|
108,490 |
|
| Hawaii State GO, Series EF, Refunding, Callable
11/01/22 at 100,
5.00%, 11/01/24 |
|
|
1,130,000 |
|
|
|
1,225,519 |
|
| Hawaii State GO, Series EH, Prerefunded, Callable
08/01/23 at 100,
5.00%, 08/01/24 |
|
|
270,000 |
|
|
|
302,341 |
|
| Hawaii State GO, Series EH, Unrefunded portion, Callable 08/01/23 at 100,
5.00%, 08/01/24 |
|
|
830,000 |
|
|
|
929,426 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
11
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Short Intermediate Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Hawaii State GO,
Series EP,Refunding,
5.00%, 08/01/22 |
|
|
1,140,000 |
|
|
|
1,223,733 |
|
| Hawaii State GO, Series FG,
5.00%, 10/01/22 |
|
|
445,000 |
|
|
|
481,321 |
|
| Hawaii State GO, Series FT,
3.00%, 01/01/23 |
|
|
1,000,000 |
|
|
|
1,055,440 |
|
| Hawaii State GO, Series FW,
5.00%, 01/01/23 |
|
|
510,000 |
|
|
|
557,772 |
|
| Hawaii State Harbor System Revenue, Series A, Refunding, AMT, 5.00%, 07/01/26 |
|
|
500,000 |
|
|
|
611,230 |
|
| Hawaii State Harbor System Revenue, Series A, Refunding, AMT, Callable 07/01/30 at 100,
4.00%, 07/01/31 |
|
|
1,000,000 |
|
|
|
1,231,180 |
|
| Hawaii State Highway Fund Revenue, Series A, 4.00%, 01/01/24 |
|
|
500,000 |
|
|
|
553,185 |
|
| Hawaii State Highway Fund Revenue, Series A, Callable 07/01/24 at 100, 5.00%, 01/01/25 |
|
|
555,000 |
|
|
|
644,666 |
|
| Hawaii State Highway Fund Revenue, Series A, Callable 01/01/22 at 100, 4.00%, 01/01/25 |
|
|
500,000 |
|
|
|
517,285 |
|
| Hawaii State Highway Fund Revenue, Series A, Callable 01/01/22 at 100, 4.00%, 01/01/26 |
|
|
300,000 |
|
|
|
310,146 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
|
| MUNICIPAL BONDS — (Continued) |
|
| Hawaii — (Continued) |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A,
5.00%, 07/01/24 |
|
|
500,000 |
|
|
|
578,925 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Refunding,
5.00%, 07/01/22 |
|
|
720,000 |
|
|
|
769,831 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A,
Refunding,
5.00%, 07/01/23 |
|
|
515,000 |
|
|
|
573,602 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Refunding, Callable 07/01/24
at 100,
5.00%, 07/01/26 |
|
|
125,000 |
|
|
|
145,009 |
|
| Honolulu City & County Board of Water Supply System Revenue, Series A, Refunding, Callable 07/01/24
at 100,
5.00%, 07/01/27 |
|
|
245,000 |
|
|
|
284,126 |
|
| Honolulu City & County GO, Honolulu Rail Transit Project, Series A,
5.00%, 09/01/24 |
|
|
615,000 |
|
|
|
719,538 |
|
| Honolulu City & County GO, Honolulu Rail Transit Project, Series B, Refunding,
5.00%, 09/01/22 |
|
|
500,000 |
|
|
|
538,685 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
12
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Short Intermediate Securities Fund
Portfolio of Investments (Continued)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
| MUNICIPAL BONDS — (Continued) |
|
|
|
|
|
| Hawaii — (Continued) |
|
|
|
|
|
|
|
|
| Honolulu City & County GO,
Honolulu Rail Transit Project, Series B, Refunding,
5.00%, 03/01/25 |
|
|
1,000,000 |
|
|
|
1,192,860 |
|
| Honolulu City & County GO,
Series A, OID, Prerefunded, Callable 08/01/21 at 100,
4.00%, 08/01/29 |
|
|
20,000 |
|
|
|
20,387 |
|
| Honolulu City & County GO,
Series B, 5.00%, 09/01/22 |
|
|
1,010,000 |
|
|
|
1,088,144 |
|
| Honolulu City & County GO,
Series B, Refunding, Callable 10/01/25 at 100,
5.00%, 10/01/26 |
|
|
665,000 |
|
|
|
808,467 |
|
| Honolulu City & County GO,
Series C, 4.00%, 08/01/22 |
|
|
800,000 |
|
|
|
846,664 |
|
| Honolulu City & County GO,
Series C, 4.00%, 07/01/23 |
|
|
500,000 |
|
|
|
546,145 |
|
| Honolulu City & County GO,
Series C, 4.00%, 08/01/23 |
|
|
1,235,000 |
|
|
|
1,352,844 |
|
| Honolulu City & County GO,
Series C, 4.00%, 07/01/24 |
|
|
690,000 |
|
|
|
778,534 |
|
| Honolulu City & County GO,
Series C, 4.00%, 07/01/26 |
|
|
115,000 |
|
|
|
137,670 |
|
| Honolulu City & County GO,
Series D, Refunding, 5.00%, 09/01/23 |
|
|
500,000 |
|
|
|
562,140 |
|
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
| MUNICIPAL BONDS — (Continued) |
|
|
|
|
|
| Hawaii — (Continued) |
|
|
|
|
|
|
|
|
| Honolulu City & County Wastewater System Revenue, 1st Bond Resolution, Senior Series A, Prerefunded,
Callable 07/01/22 at 100,
5.00%, 07/01/23 |
|
|
500,000 |
|
|
|
534,235 |
|
| Honolulu City & County Wastewater System Revenue, 1st Bond Resolution, Series
A,
5.00%, 07/01/22 |
|
|
500,000 |
|
|
|
534,605 |
|
| Honolulu City & County Wastewater System Revenue, 1st Bond Resolution, Series
A,
5.00%, 07/01/23 |
|
|
1,000,000 |
|
|
|
1,116,370 |
|
| Honolulu City & County Wastewater System Revenue, Junior Series A,
Refunding,
5.00%, 07/01/24 |
|
|
500,000 |
|
|
|
580,780 |
|
| Honolulu City & County Wastewater System Revenue, Senior Series A, Prerefunded, Callable 07/01/21 at
100,
5.25%, 07/01/36 |
|
|
35,000 |
|
|
|
35,744 |
|
| Maui County GO, Refunding,
5.00%, 09/01/21 |
|
|
35,000 |
|
|
|
35,999 |
|
| Maui County GO, Refunding,
5.00%, 09/01/23 |
|
|
1,010,000 |
|
|
|
1,135,523 |
|
| Maui County GO, Refunding,
5.00%, 03/01/26 |
|
|
250,000 |
|
|
|
309,847 |
|
See accompanying Notes to the
Quarterly Portfolio of Investments.
13
PACIFIC CAPITAL FUNDS
Pacific Capital Tax-Free Short Intermediate Securities Fund
Portfolio of Investments (Concluded)
January
31, 2021
(Unaudited)
|
|
|
|
|
|
|
|
|
| |
|
Principal
Amount ($) |
|
|
Value ($) |
|
| MUNICIPAL BONDS — (Continued) |
|
|
|
|
|
| Hawaii — (Continued) |
|
|
|
|
|
|
|
|
| University of Hawaii Revenue, Series B, Refunding, 4.00%, 10/01/23 |
|
|
525,000 |
|
|
|
578,224 |
|
| University of Hawaii Revenue, Series B, Refunding, 4.00%, 10/01/24 |
|
|
505,000 |
|
|
|
574,554 |
|
| University of Hawaii Revenue, Series B, Refunding, 5.00%, 10/01/25 |
|
|
500,000 |
|
|
|
609,945 |
|
| University of Hawaii Revenue, Series F, Refunding, 5.00%, 10/01/21 |
|
|
500,000 |
|
|
|
515,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
46,274,194 |
|
|
|
|
|
|
|
|
|
|
| Texas — 2.3% |
|
|
|
|
|
|
|
|
| Houston Independent School District GO, Refunding, Callable 02/15/24 at 100, 4.00%, 02/15/25, (PSF-GTD) |
|
|
600,000 |
|
|
|
667,578 |
|
| Pflugerville Independent School District GO, Refunding, Callable 02/15/24 at 100, 5.00%, 02/15/26, (PSF-GTD) |
|
|
400,000 |
|
|
|
457,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,124,846 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL MUNICIPAL BONDS
(Cost $46,742,439) |
|
|
|
|
|
|
48,317,283 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
Value ($) |
|
|
| REGISTERED INVESTMENT COMPANY — 2.0% |
|
| Dreyfus Government Cash Management Fund, Institutional Shares, 0.03%(a) |
|
|
1,018,440 |
|
|
|
1,018,440 |
|
|
|
|
|
|
|
|
|
|
| TOTAL REGISTERED INVESTMENT COMPANY (Cost $1,018,440) |
|
|
|
|
|
|
1,018,440 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL INVESTMENTS - 99.2%
(Cost $47,760,879) |
|
|
|
|
|
|
49,335,723 |
|
| OTHER ASSETS IN EXCESS OF LIABILITIES - 0.8% |
|
|
|
|
|
|
379,596 |
|
|
|
|
|
|
|
|
|
|
| NET ASSETS - 100.0% |
|
|
|
|
|
$ |
49,715,319 |
|
|
|
|
|
|
|
|
|
|
| (a) |
Rate periodically changes. Rate disclosed is the 7-day yield at January 31,
2021. |
Portfolio holdings are subject to change at any time.
|
|
|
| AMT |
|
Alternative Minimum Tax |
| ETM |
|
Escrowed To Maturity |
| GO |
|
General Obligation |
| MWC |
|
Make Whole Callable |
| OID |
|
Original Issue Discount |
| PSF-GTD |
|
Permanent School Fund Guaranteed |
See accompanying Notes to the
Quarterly Portfolio of Investments.
14
PACIFIC CAPITAL FUNDS
Notes to the Quarterly Portfolio of Investments
January 31, 2021
(Unaudited)
A. Portfolio Valuation
Portfolio
Valuation – The Pacific Capital Tax-Free Securities Fund and the Pacific Capital Tax-Free Short Intermediate Securities Fund’s (each a “Fund”
and together the “Funds”) net asset value (“NAV”) is calculated once daily at the close of regular trading hours on the New York Stock Exchange (“NYSE”) (typically 4:00 p.m. Eastern time) on each day the NYSE is open.
Fixed income securities having a remaining maturity of greater than 60 days are valued using an independent pricing service. Fixed income securities having a remaining maturity of 60 days or less are generally valued at amortized cost, provided such
amount approximates fair value. Debt securities are valued on the basis of broker quotations or valuations provided by a pricing service, which utilizes information with respect to recent sales, market transactions in comparable securities,
quotations from dealers, and various relationships between securities in determining value. Valuations developed through pricing techniques may materially vary from the actual amounts realized upon sale of the securities. Investments in other open-end investment companies are valued based on the NAV of such investment companies (which may use fair value pricing as discussed in their prospectuses). If market quotations are unavailable or deemed
unreliable, securities will be valued in accordance with procedures adopted by the Trust’s Board of Trustees. Relying on prices supplied by pricing services or dealers or using fair valuation may result in values that are higher or lower than
the values used by other investment companies and investors to price the same investments. In the event that market quotes are not readily available, and the security or asset cannot be valued pursuant to one of the valuation methods, the value of
the security or asset will be determined in good faith by the Adviser. The Trust has established a Valuation Committee which performs certain functions including the oversight of the Adviser’s fair valuation determinations.
Fair Value Measurements – The inputs and valuation techniques used to measure fair value of the Funds’
investments are summarized into three levels as described in the hierarchy below:
| |
• |
|
Level 1 — quoted prices in active markets for identical securities; |
| |
• |
|
Level 2 — other significant observable inputs (including quoted prices for similar securities,
interest rates, prepayment speeds, credit risk, etc.); and |
| |
• |
|
Level 3 — significant unobservable inputs (including the Funds’ own assumptions in determining
the fair value of investments). |
The fair value of a Fund’s bonds is generally based on quotes received from
brokers or independent pricing services. Bonds with quotes that are based on actual trades with a sufficient level of activity on or near the measurement date are classified as Level 2 assets.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those
securities. Transfers in and out are recognized at the value at the end of the period.
15
PACIFIC CAPITAL FUNDS
Notes to the Quarterly Portfolio of Investments (Continued)
January 31, 2021
(Unaudited)
The following is a summary of the inputs used, as of January 31, 2021, in valuing
the Funds’ investments carried at fair value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Funds |
|
Total Value at
01/31/21 |
|
|
Level 1
Quoted
Price |
|
|
Level 2
Other
Significant
Observable
Inputs |
|
|
Level 3
Significant
Unobservable
Inputs |
|
| Pacific Capital Tax-Free Securities Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
$ |
265,115,451 |
|
|
$ |
— |
|
|
$ |
265,115,451 |
|
|
$ |
— |
|
| Registered Investment Company |
|
|
4,664,483 |
|
|
|
4,664,483 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
$ |
269,779,934 |
|
|
$ |
4,664,483 |
|
|
$ |
265,115,451 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pacific Capital Tax-Free Short Intermediate Securities
Fund |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
$ |
48,317,283 |
|
|
$ |
— |
|
|
$ |
48,317,283 |
|
|
$ |
— |
|
| Registered Investment Company |
|
|
1,018,440 |
|
|
|
1,018,440 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
$ |
49,335,723 |
|
|
$ |
1,018,440 |
|
|
$ |
48,317,283 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and
liabilities. Various factors are considered, such as changes in liquidity from the prior reporting period; whether or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third party pricing services; and
the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the classification of Level 1 and Level 2 assets and liabilities on a quarterly basis for changes in listings or delistings on national
exchanges.
Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market
value, the fair value of a Fund’s investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments
and may differ materially from the values a Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.
For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles (“U.S. GAAP”) require
the Funds to present a reconciliation of the beginning to ending balances for reported market values that present changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3
during the period. A reconciliation of Level 3 investments is presented only when the Funds have an amount of Level 3 investments at the end of the reporting
16
PACIFIC CAPITAL FUNDS
Notes to the Quarterly Portfolio of Investments (Concluded)
January 31, 2021
(Unaudited)
period that was meaningful in relation to its net assets. The amounts and reasons for all transfers in and out of each Level within the three-tier hierarchy are disclosed when the Funds have an
amount of total transfers during the reporting period that was meaningful in relation to its net assets as of the end of the reporting period.
For the period ended January 31, 2021, there were no transfers in or out of Level 3.
For more information with regard to significant accounting policies, see the most recent semi-annual or annual report filed with the
Securities and Exchange Commission.
17