NPORT-EX 2 acfb_californiahigh-yieldm.htm PART F (PORTFOLIO HOLDINGS) Document



American Century Investments® 
Quarterly Portfolio Holdings
California High-Yield Municipal Fund
November 30, 2019








California High-Yield Municipal - Schedule of Investments
 
NOVEMBER 30, 2019 (UNAUDITED)                       
 
 
Shares/
Principal Amount ($)
Value ($)
MUNICIPAL SECURITIES — 99.6%
 
 
California — 98.6%
 
 
91 Express Lanes Toll Road Rev., 5.00%, 8/15/30
2,400,000

2,714,400

ABAG Finance Authority for Nonprofit Corps. Rev., (Jackson Laboratory), 5.00%, 7/1/37
2,000,000

2,178,620

ABC Unified School District GO, Capital Appreciation, 0.00%, 8/1/21 (NATL)(1)
1,000,000

978,300

Alameda Community Facilities District Special Tax, 5.00%, 9/1/42
1,250,000

1,407,563

Alameda Corridor Transportation Authority Rev., 5.00%, 10/1/26
2,000,000

2,278,520

Alameda Corridor Transportation Authority Rev., 5.00%, 10/1/27 (AGM)
2,000,000

2,281,740

Alameda Corridor Transportation Authority Rev., 5.00%, 10/1/35
2,270,000

2,675,218

Antelope Valley Healthcare District Rev., 5.00%, 3/1/46
5,000,000

5,302,300

Bay Area Toll Authority Rev., VRDN, 2.20%, (MUNIPSA plus 1.10%), 4/1/24
2,500,000

2,567,575

Beaumont Special Tax, (Beaumont Community Facilities District No. 2016-1), 5.00%, 9/1/44
300,000

345,762

Beaumont Special Tax, (Beaumont Community Facilities District No. 2016-1), 5.00%, 9/1/49
400,000

458,952

Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 5.00%, 9/1/43
1,605,000

1,851,496

Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 5.00%, 9/1/48
2,855,000

3,279,082

Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 5.00%, 9/1/48
2,535,000

2,911,549

Berryessa Union School District GO, Capital Appreciation, 0.00%, 8/1/21 (AGM)(1)
1,190,000

1,164,177

Berryessa Union School District GO, Capital Appreciation, 0.00%, 8/1/22 (AGM)(1)
1,220,000

1,175,909

Berryessa Union School District GO, Capital Appreciation, 0.00%, 8/1/23 (AGM)(1)
1,000,000

947,930

California Community College Financing Authority Rev., (NCCD-Orange Coast Properties LLC), 5.25%, 5/1/53
6,250,000

7,306,812

California Community Housing Agency Rev., 5.00%, 4/1/49(2)
8,035,000

8,932,831

California Community Housing Agency Rev., 5.00%, 8/1/49(2)
5,000,000

5,658,250

California County Tobacco Securitization Agency Rev., (Alameda County Tobacco Securitization Corp.), 0.00%, 6/1/50(1)
22,520,000

3,498,932

California County Tobacco Securitization Agency Rev., (Gold Country Settlement Funding Corp.), 5.25%, 6/1/46
1,000,000

1,000,120

California County Tobacco Securitization Agency Rev., (Los Angeles County Securitization Corp.), 5.45%, 6/1/28
2,000,000

2,030,460

California County Tobacco Securitization Agency Rev., (Los Angeles County Securitization Corp.), 5.65%, 6/1/41
1,500,000

1,510,485

California County Tobacco Securitization Agency Rev., (Los Angeles County Securitization Corp.), 0.00%, 6/1/46(1)
15,975,000

3,230,784

California Educational Facilities Authority Rev., (Chapman University), 5.00%, 4/1/25
715,000

856,742

California Educational Facilities Authority Rev., (Chapman University), 5.00%, 4/1/31 (GA: Brandman University)
1,820,000

1,911,965

California Educational Facilities Authority Rev., (The Leland Stanford Junior University), 5.00%, 5/1/49
4,000,000

6,094,360

California Health Facilities Financing Authority Rev., (Adventist Health System / West Obligated Group), 4.00%, 3/1/24
2,250,000

2,517,570

California Health Facilities Financing Authority Rev., (Stanford Health Care Obligated Group), 4.00%, 11/15/40
3,900,000

4,417,803

California Housing Finance Rev., 4.25%, 1/15/35
3,313,788

3,868,847

California Infrastructure & Economic Development Bank Rev., (Colburn School), VRDN, 2.10%, (MUNIPSA plus 1.00%), 6/1/20
2,190,000

2,190,000

California Municipal Finance Authority Rev., (Azusa Pacific University), 5.00%, 4/1/41
1,860,000

2,044,121

California Municipal Finance Authority Rev., (Bowles Hall Foundation), 5.00%, 6/1/50
1,750,000

1,945,335

California Municipal Finance Authority Rev., (California Baptist University), 5.00%, 11/1/46(2)
2,000,000

2,258,600

California Municipal Finance Authority Rev., (Caritas Affordable Housing, Inc.), 5.00%, 8/15/20
600,000

614,256

California Municipal Finance Authority Rev., (Caritas Affordable Housing, Inc.), 5.00%, 8/15/22
360,000

390,913

California Municipal Finance Authority Rev., (Chevron Corp.), VRDN, 0.83%, 12/2/19 (GA: Chevron Corp.)
2,900,000

2,900,000

California Municipal Finance Authority Rev., (Chevron USA, Inc.), VRDN, 0.83%, 12/2/19 (GA: Chevron Corp.)
3,400,000

3,400,000

California Municipal Finance Authority Rev., (CHF-Davis I LLC), 5.00%, 5/15/36 (BAM-TCRS)
3,000,000

3,688,710

California Municipal Finance Authority Rev., (CHF-Davis I LLC), 5.00%, 5/15/51
12,205,000

14,387,376

California Municipal Finance Authority Rev., (CHF-Riverside I LLC), 5.00%, 5/15/52
5,140,000

6,054,612



California Municipal Finance Authority Rev., (Community Hospitals of Central California Obligated Group), 5.00%, 2/1/27
1,000,000

1,231,640

California Municipal Finance Authority Rev., (Community Hospitals of Central California Obligated Group), 5.00%, 2/1/46
3,615,000

4,101,109

California Municipal Finance Authority Rev., (Congregational Home Obligated Group), 5.00%, 11/15/39
1,200,000

1,417,176

California Municipal Finance Authority Rev., (Congregational Home Obligated Group), 5.00%, 11/15/49
3,750,000

4,373,775

California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.00%, 11/1/26(2)
625,000

651,725

California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.00%, 11/1/36(2)
1,400,000

1,449,574

California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.50%, 11/1/46(2)
3,100,000

3,251,869

California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/35
3,500,000

4,123,665

California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/35
1,500,000

1,767,285

California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/36
1,580,000

1,857,179

California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/37
1,500,000

1,757,955

California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/42
1,750,000

2,029,212

California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/47
3,000,000

3,457,080

California Municipal Finance Authority Rev., (Emerson College), 5.00%, 1/1/42
5,250,000

6,205,027

California Municipal Finance Authority Rev., (Northbay Healthcare Group Obligated Group), 5.00%, 11/1/24
1,000,000

1,150,880

California Municipal Finance Authority Rev., (Northbay Healthcare Group Obligated Group), 5.00%, 11/1/25
1,000,000

1,174,650

California Municipal Finance Authority Rev., (Northbay Healthcare Group Obligated Group), 5.00%, 11/1/26
500,000

597,035

California Municipal Finance Authority Rev., (Northbay Healthcare Group Obligated Group), 5.00%, 11/1/35
350,000

389,078

California Municipal Finance Authority Rev., (Northbay Healthcare Group Obligated Group), 5.00%, 11/1/40
500,000

551,315

California Municipal Finance Authority Rev., (Northbay Healthcare Group Obligated Group), 5.00%, 11/1/44
300,000

329,322

California Municipal Finance Authority Rev., (Northbay Healthcare Group Obligated Group), 5.25%, 11/1/47
1,600,000

1,833,952

California Municipal Finance Authority Rev., (Northern California Retired Officers Community), 2.25%, 7/1/25 (California Mortgage Insurance)
2,200,000

2,217,512

California Municipal Finance Authority Rev., (Palmdale Aerospace Academy, Inc.), 5.00%, 7/1/49(2)
5,100,000

5,726,790

California Municipal Finance Authority Rev., (River Charter Schools), 5.50%, 6/1/38(2)
800,000

899,144

California Municipal Finance Authority Rev., (River Charter Schools), 5.50%, 6/1/48(2)
1,915,000

2,129,901

California Municipal Finance Authority Rev., (River Charter Schools), 5.50%, 6/1/53(2)
1,805,000

1,996,529

California Municipal Finance Authority Rev., (Santa Rosa Academy LLC), 5.125%, 7/1/35(2)
905,000

993,328

California Municipal Finance Authority Rev., (Santa Rosa Academy LLC), 5.375%, 7/1/45(2)
1,400,000

1,539,370

California Municipal Finance Authority Rev., (Touro College and University System Obligated Group), 5.25%, 1/1/34
950,000

1,059,678

California Municipal Finance Authority Rev., (Touro College and University System Obligated Group), 5.25%, 1/1/40
1,750,000

1,935,027

California Municipal Finance Authority Rev., (University of San Diego), 5.00%, 10/1/44
5,000,000

6,235,650

California Municipal Finance Authority Rev., (University of San Diego), 5.00%, 10/1/49
5,000,000

6,197,650

California Municipal Finance Authority Rev., (William Jessup University), 5.00%, 8/1/39
2,000,000

2,291,700

California Municipal Finance Authority Rev., (William Jessup University), 5.00%, 8/1/48
2,700,000

3,048,327

California Pollution Control Financing Authority Rev., (San Diego County Water Authority), 5.00%, 11/21/45(2)
1,500,000

1,793,415

California Public Finance Authority Rev., (Henry Mayo Newhall Memorial Hospital), 5.00%, 10/15/47
3,500,000

3,943,100

California Public Finance Authority Rev., (Trinity Classical Academy), 5.00%, 7/1/36(2)
400,000

430,564

California Public Finance Authority Rev., (Trinity Classical Academy), 5.00%, 7/1/44(2)
375,000

396,023

California Public Finance Authority Rev., (Trinity Classical Academy), 5.00%, 7/1/54(2)
1,000,000

1,048,040

California School Finance Authority Rev., (Alliance for College Ready Public Schools Obligated Group), 5.00%, 7/1/31
4,000,000

4,588,040

California School Finance Authority Rev., (Alliance for College Ready Public Schools Obligated Group), 5.00%, 7/1/45(2)
5,000,000

5,560,200

California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/27(2)
985,000

1,135,577

California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/28(2)
1,285,000

1,477,981

California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/29(2)
795,000

911,237

California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/30(2)
400,000

456,628

California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/31(2)
500,000

568,280

California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/40(2)
1,000,000

1,115,340

California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/41(2)
1,000,000

1,113,520



California School Finance Authority Rev., (Bright Star Schools Obligated Group), 5.00%, 6/1/37(2)
1,800,000

1,964,232

California School Finance Authority Rev., (Bright Star Schools Obligated Group), 5.00%, 6/1/47(2)
1,565,000

1,687,540

California School Finance Authority Rev., (Bright Star Schools Obligated Group), 5.00%, 6/1/54(2)
1,660,000

1,775,453

California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.00%, 6/1/26(2)
2,525,000

2,635,696

California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.50%, 6/1/31(2)
1,500,000

1,612,620

California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.75%, 6/1/36(2)
1,500,000

1,611,690

California School Finance Authority Rev., (Downtown College Prep Obligated Group), 5.00%, 6/1/46(2)
4,630,000

4,974,657

California School Finance Authority Rev., (Downtown College Prep Obligated Group), 5.00%, 6/1/51(2)
2,000,000

2,142,920

California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/30(2)
325,000

357,568

California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/37(2)
430,000

466,296

California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/48(2)
1,100,000

1,183,160

California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/56(2)
1,000,000

1,068,880

California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/38(2)
1,130,000

1,337,287

California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/45(2)
3,500,000

3,899,105

California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/48(2)
3,630,000

4,234,141

California School Finance Authority Rev., (Kepler Education, Inc.), 5.75%, 5/1/37(2)
1,050,000

1,064,469

California School Finance Authority Rev., (Kepler Education, Inc.), 5.875%, 5/1/47(2)
1,425,000

1,444,979

California School Finance Authority Rev., (Kipp Schools), 4.125%, 7/1/24
345,000

365,189

California School Finance Authority Rev., (Kipp Schools), 5.00%, 7/1/34
500,000

557,710

California School Finance Authority Rev., (Kipp Schools), 5.00%, 7/1/37(2)
1,180,000

1,386,488

California School Finance Authority Rev., (Kipp Schools), 5.125%, 7/1/44
700,000

772,730

California School Finance Authority Rev., (Kipp Schools), 5.00%, 7/1/45(2)
1,650,000

1,843,891

California School Finance Authority Rev., (Kipp Socal Public Schools Obligated Group), 5.00%, 7/1/39(2)
1,000,000

1,210,030

California School Finance Authority Rev., (Kipp Socal Public Schools Obligated Group), 5.00%, 7/1/49(2)
1,000,000

1,188,900

California School Finance Authority Rev., (Kipp Socal Public Schools Obligated Group), 5.00%, 7/1/54(2)
2,150,000

2,535,968

California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/33(2)
500,000

550,795

California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/43(2)
550,000

597,174

California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/55(2)
1,000,000

1,075,600

California School Finance Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/49(2)
5,250,000

5,510,767

California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/21(2)
770,000

786,416

California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/26(2)
500,000

548,185

California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/31(2)
870,000

937,869

California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/36(2)
1,000,000

1,068,710

California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/37(2)
360,000

391,370

California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/46(2)
2,100,000

2,227,113

California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/53(2)
2,265,000

2,427,083

California School Finance Authority Rev., (Summit Public Schools Obligated Group), 5.00%, 6/1/37(2)
1,000,000

1,164,660

California School Finance Authority Rev., (Summit Public Schools Obligated Group), 5.00%, 6/1/47(2)
1,870,000

2,146,723

California School Finance Authority Rev., (Summit Public Schools Obligated Group), 4.30%, 6/1/53(2)
2,935,000

2,981,138

California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/34(3)
1,400,000

1,628,116

California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/39(3)
1,640,000

1,882,064

California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/48(3)
1,000,000

1,132,500

California State Public Works Board Rev., 5.00%, 4/1/25
1,500,000

1,631,055

California State Public Works Board Rev., 5.00%, 12/1/31
975,000

1,047,238

California State Public Works Board Rev., 5.00%, 4/1/37
5,465,000

5,909,578

California State Public Works Board Rev., 5.00%, 11/1/38
2,350,000

2,648,215

California State Public Works Board Rev., (State of California Department of Corrections & Rehabilitation), 5.75%, 10/1/31
1,000,000

1,082,440

California State Public Works Board Rev., (State of California Department of Corrections & Rehabilitation), 5.00%, 9/1/39
7,000,000

8,057,630



California State Public Works Board Rev., (State of California Department of Corrections & Rehabilitation), 5.00%, 11/1/44
4,275,000

5,338,919

California Statewide Communities Development Authority Rev., (899 Charleston LLC), 5.25%, 11/1/44(2)
1,795,000

1,975,523

California Statewide Communities Development Authority Rev., (Adventist Health System / West Obligated Group), 5.00%, 3/1/35
1,785,000

2,100,124

California Statewide Communities Development Authority Rev., (American Baptist Homes of the West Obligated Group), 5.00%, 10/1/43 (GA: American Baptist Homes Foundation)
1,200,000

1,277,232

California Statewide Communities Development Authority Rev., (American Baptist Homes of the West Obligated Group), 5.00%, 10/1/45
2,400,000

2,697,120

California Statewide Communities Development Authority Rev., (California Baptist University), 3.00%, 11/1/22(2)
1,300,000

1,321,762

California Statewide Communities Development Authority Rev., (California Baptist University), 3.50%, 11/1/27(2)
2,630,000

2,834,482

California Statewide Communities Development Authority Rev., (California Baptist University), 5.00%, 11/1/32(2)
3,090,000

3,646,169

California Statewide Communities Development Authority Rev., (California Baptist University), 5.00%, 11/1/41(2)
6,325,000

7,291,586

California Statewide Communities Development Authority Rev., (Chevron USA, Inc.), VRDN, 0.83%, 12/2/19 (GA: Chevron Corp.)
1,600,000

1,600,000

California Statewide Communities Development Authority Rev., (Collis P and Howard Huntington Memorial Hospital Obligated Group), 5.00%, 7/1/34
1,500,000

1,707,375

California Statewide Communities Development Authority Rev., (Collis P and Howard Huntington Memorial Hospital Obligated Group), 5.00%, 7/1/44
2,760,000

3,100,308

California Statewide Communities Development Authority Rev., (Cottage Health System Obligated Group), 5.25%, 11/1/30
1,250,000

1,294,675

California Statewide Communities Development Authority Rev., (Episcopal Communities & Services for Seniors), 5.00%, 5/15/42
1,500,000

1,604,535

California Statewide Communities Development Authority Rev., (Henry Mayo Newhall Memorial Hospital), 5.25%, 10/1/43 (AGM)
1,000,000

1,127,580

California Statewide Communities Development Authority Rev., (Independence Support LLC), 7.00%, 6/1/45(4)(5)
7,000,000

3,745,000

California Statewide Communities Development Authority Rev., (Lancer Educational Housing LLC), 5.00%, 6/1/46(2)
3,500,000

3,888,465

California Statewide Communities Development Authority Rev., (Lancer Educational Housing LLC), 5.00%, 6/1/51(2)
1,450,000

1,668,660

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/26(2)
2,000,000

2,329,720

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/29(2)
3,155,000

3,633,550

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/36(2)
1,000,000

1,134,020

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/41(2)
1,700,000

1,904,952

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.25%, 12/1/44
5,000,000

5,529,500

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/46(2)
9,900,000

11,032,560

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.50%, 12/1/54
4,605,000

5,121,865

California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.50%, 12/1/58(2)
14,750,000

17,268,562

California Statewide Communities Development Authority Rev., (Methodist Hospital of Southern California Obligated Group), 5.00%, 1/1/48
10,000,000

11,666,000

California Statewide Communities Development Authority Rev., (NCCD-Hooper Street LLC), 5.25%, 7/1/39(2)
2,550,000

2,982,811

California Statewide Communities Development Authority Rev., (NCCD-Hooper Street LLC), 5.25%, 7/1/49(2)
3,375,000

3,890,632

California Statewide Communities Development Authority Rev., (Redlands Community Hospital), 4.00%, 10/1/41
6,500,000

7,018,700

California Statewide Communities Development Authority Rev., (Viamonte Senior Living 1, Inc.), 3.00%, 7/1/25 (California Mortgage Insurance)
2,500,000

2,547,150

California Statewide Communities Development Authority Rev., (Viamonte Senior Living 1, Inc.), 3.00%, 7/1/26 (California Mortgage Insurance)
2,750,000

2,798,125

California Statewide Communities Development Authority Rev., (Viamonte Senior Living 1, Inc.), 3.00%, 7/1/27 (California Mortgage Insurance)
1,500,000

1,523,880

California Statewide Communities Development Authority Special Assessment, 2.70%, 9/2/22
345,000

351,696

California Statewide Communities Development Authority Special Assessment, 3.00%, 9/2/23
355,000

367,226



California Statewide Communities Development Authority Special Assessment, 3.00%, 9/2/24
365,000

379,812

California Statewide Communities Development Authority Special Assessment, 5.00%, 9/2/34
1,125,000

1,383,908

California Statewide Communities Development Authority Special Assessment, 5.00%, 9/2/35
1,920,000

2,193,178

California Statewide Communities Development Authority Special Assessment, 5.00%, 9/2/39
600,000

726,714

California Statewide Communities Development Authority Special Assessment, 4.00%, 9/2/44
900,000

973,170

California Statewide Communities Development Authority Special Assessment, 5.00%, 9/2/45
3,810,000

4,292,155

California Statewide Communities Development Authority Special Assessment, 5.00%, 9/2/49
700,000

834,575

California Statewide Communities Development Authority Special Tax, 5.00%, 9/1/36
1,000,000

1,139,860

California Statewide Communities Development Authority Special Tax, 5.00%, 9/1/37
3,865,000

4,393,964

California Statewide Communities Development Authority Special Tax, 5.00%, 9/1/39
1,545,000

1,787,488

California Statewide Communities Development Authority Special Tax, 5.00%, 9/1/45
1,500,000

1,689,915

California Statewide Communities Development Authority Special Tax, 5.00%, 9/1/47
1,650,000

1,920,715

California Statewide Communities Development Authority Special Tax, 5.00%, 9/1/48
7,330,000

8,658,489

California Statewide Communities Development Authority Special Tax, 5.00%, 9/1/48
1,750,000

2,004,327

California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2016-02), 5.00%, 9/1/39
1,000,000

1,113,280

California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2016-02), 5.00%, 9/1/49
2,095,000

2,299,807

Cathedral City Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 8/1/29 (AGM)
1,250,000

1,439,800

Cathedral City Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 8/1/30 (AGM)
1,315,000

1,512,040

Cathedral City Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 8/1/31 (AGM)
1,380,000

1,584,226

Central Basin Municipal Water District Rev., 5.00%, 8/1/44
5,000,000

5,774,850

Chino Community Facilities District Special Tax, 5.00%, 9/1/43
3,160,000

3,752,247

Chino Community Facilities District Special Tax, 5.00%, 9/1/48
2,500,000

2,950,525

Chula Vista Community Facilities District Special Tax, (Chula Vista Community Facilities District No. 06-1), 5.00%, 9/1/43
595,000

686,701

Chula Vista Community Facilities District Special Tax, (Chula Vista Community Facilities District No. 06-1), 5.00%, 9/1/48
1,000,000

1,150,430

Coast Community College District GO, Capital Appreciation, 0.00%, 8/1/28 (AGM)(1)
5,000,000

4,282,600

Compton Unified School District GO, Capital Appreciation, 0.00%, 6/1/43 (BAM)(1)
3,300,000

1,551,825

Corona-Norco Unified School District GO, 4.00%, 8/1/49
1,000,000

1,118,220

Corona-Norco Unified School District Special Tax, 5.00%, 9/1/43
2,430,000

2,801,012

Corona-Norco Unified School District Special Tax, 4.00%, 9/1/45
2,000,000

2,141,500

Corona-Norco Unified School District Special Tax, 5.00%, 9/1/48
1,500,000

1,722,810

Del Mar Race Track Authority Rev., 5.00%, 10/1/29
1,010,000

1,146,138

Del Mar Race Track Authority Rev., 5.00%, 10/1/35
2,000,000

2,236,020

Dixon Special Tax, 5.00%, 9/1/45
4,780,000

5,388,398

Duarte Unified School District GO, Capital Appreciation, 0.00%, 11/1/23 (AGM)(1)
1,150,000

1,083,277

Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/29
665,000

795,978

Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/37
1,150,000

1,349,065

Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/39
3,200,000

3,735,360

Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/44
3,000,000

3,473,520

Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/47
2,840,000

3,291,532

Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/49
4,300,000

4,964,264

East Garrison Public Finance Authority Special Tax, 5.00%, 9/1/46
1,250,000

1,429,288

Eastern Municipal Water District Special Tax, 5.00%, 9/1/36
3,575,000

4,072,926

El Dorado County Special Tax, 5.00%, 9/1/27
1,055,000

1,276,307

El Dorado County Special Tax, 5.00%, 9/1/29
1,225,000

1,465,896

El Dorado County Special Tax, 5.00%, 9/1/30
1,325,000

1,577,121

El Dorado County Special Tax, 5.00%, 9/1/31
1,280,000

1,517,760

El Dorado County Special Tax, 5.00%, 9/1/32
1,355,000

1,597,179



El Dorado County Special Tax, 4.00%, 9/1/43
1,250,000

1,344,363

El Dorado County Special Tax, 4.00%, 9/1/46
2,350,000

2,500,823

El Dorado County Special Tax, 5.00%, 9/1/48
2,850,000

3,217,992

El Dorado County Special Tax, (El County Dorado Community Facilities District No. 2018-1 Bass Lake Hills), 5.00%, 9/1/34
450,000

521,802

El Dorado County Special Tax, (El County Dorado Community Facilities District No. 2018-1 Bass Lake Hills), 5.00%, 9/1/39
725,000

832,634

El Dorado County Special Tax, (El County Dorado Community Facilities District No. 2018-1 Bass Lake Hills), 5.00%, 9/1/44
1,300,000

1,490,983

El Dorado County Special Tax, (El County Dorado Community Facilities District No. 2018-1 Bass Lake Hills), 5.00%, 9/1/49
1,500,000

1,716,015

Elk Grove Finance Authority Special Tax, 5.00%, 9/1/43
1,040,000

1,194,939

Elk Grove Finance Authority Special Tax, 5.00%, 9/1/48
1,250,000

1,430,288

Emeryville Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/31 (AGM)
590,000

685,273

Emeryville Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/34 (AGM)
1,000,000

1,154,110

Escondido Joint Powers Financing Authority Rev., 5.00%, 3/1/22, Prerefunded at 100% of Par(6)
1,355,000

1,477,506

Fairfield Community Facilities District Special Tax, (Fairfield Community Facilities District No. 2016-1), 5.00%, 9/1/39
500,000

608,940

Fairfield Community Facilities District Special Tax, (Fairfield Community Facilities District No. 2016-1), 5.00%, 9/1/44
1,000,000

1,198,710

Folsom Ranch Financing Authority Special Tax, 5.00%, 9/1/47
4,325,000

5,025,650

Folsom Ranch Financing Authority Special Tax, (Folsom CA-Community Facilities District No. 20), 5.00%, 9/1/33
530,000

620,831

Folsom Ranch Financing Authority Special Tax, (Folsom CA-Community Facilities District No. 20), 5.00%, 9/1/38
845,000

979,287

Folsom Ranch Financing Authority Special Tax, (Folsom CA-Community Facilities District No. 20), 5.00%, 9/1/48
1,675,000

1,922,699

Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/34
1,690,000

2,011,759

Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/39
880,000

1,035,716

Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/44
1,145,000

1,338,482

Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/49
1,025,000

1,192,147

Fontana Special Tax, (City of Fontana CA Community Facilities District No. 80 Bella Strada), 5.00%, 9/1/46
1,000,000

1,163,380

Fontana Special Tax, (Fontana Community Facilities District No. 31), 5.00%, 9/1/35
1,365,000

1,591,645

Foothill-Eastern Transportation Corridor Agency Rev., 6.50%, 1/15/43
4,000,000

4,708,840

Foothill-Eastern Transportation Corridor Agency Rev., 6.00%, 1/15/49
27,500,000

32,113,675

Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/42(1)
6,000,000

2,815,920

Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, VRN, 0.00%, 1/15/42
2,200,000

2,314,356

Foothill-Eastern Transportation Corridor Agency Rev., VRDN, 5.50%, 1/15/23
3,750,000

4,147,650

Fremont Community Facilities District No. 1 Special Tax, 5.00%, 9/1/40
3,000,000

3,399,210

Fremont Community Facilities District No. 1 Special Tax, 5.00%, 9/1/45
2,000,000

2,254,200

Fremont Community Facilities District No. 2 Special Tax, 5.00%, 9/1/44
1,000,000

1,153,120

Fremont Community Facilities District No. 2 Special Tax, 5.00%, 9/1/49
1,550,000

1,781,028

Golden State Tobacco Securitization Corp. Rev., 5.00%, 6/1/24
1,500,000

1,716,285

Golden State Tobacco Securitization Corp. Rev., 5.00%, 6/1/25
1,000,000

1,161,860

Golden State Tobacco Securitization Corp. Rev., 5.00%, 6/1/26
1,000,000

1,183,560

Golden State Tobacco Securitization Corp. Rev., 5.00%, 6/1/29
1,500,000

1,688,250

Golden State Tobacco Securitization Corp. Rev., 5.30%, 6/1/37
7,000,000

7,285,040

Golden State Tobacco Securitization Corp. Rev., 5.00%, 6/1/47
10,000,000

10,289,100

Golden State Tobacco Securitization Corp. Rev., 5.25%, 6/1/47
16,500,000

17,078,655

Golden State Tobacco Securitization Corp. Rev., Capital Appreciation, 0.00%, 6/1/47(1)
45,000,000

7,538,850

Hemet Unified School District Financing Authority Special Tax, 5.00%, 9/1/34
350,000

396,137

Hemet Unified School District Financing Authority Special Tax, 5.00%, 9/1/39
2,100,000

2,356,473

Hesperia Special Tax, 5.00%, 9/1/29
1,060,000

1,192,776

Hesperia Special Tax, 5.00%, 9/1/35
2,690,000

3,000,480

Huntington Beach Community Facilities District Special Tax, 5.375%, 9/1/33
1,700,000

1,888,394

Independent Cities Finance Authority Rev., 5.00%, 10/15/47
4,000,000

4,228,200



Independent Cities Finance Authority Rev., (Augusta Communities LLC), 5.00%, 5/15/39
2,500,000

2,650,425

Independent Cities Finance Authority Rev., (Millennium Housing Corp.), 5.00%, 9/15/36
1,000,000

1,090,440

Independent Cities Finance Authority Rev., (Millennium Housing Corp.), 5.00%, 9/15/36
1,500,000

1,635,660

Independent Cities Finance Authority Rev., (Millennium Housing LLC), 6.75%, 8/15/46
2,500,000

2,690,025

Inland Valley Development Agency Tax Allocation, 5.25%, 9/1/37
1,110,000

1,268,042

Irvine Special Assessment, 5.00%, 9/2/24
700,000

772,380

Irvine Special Assessment, 5.00%, 9/2/26
600,000

659,538

Irvine Special Assessment, 5.00%, 9/2/29
700,000

785,897

Irvine Special Assessment, 5.00%, 9/2/30
350,000

391,710

Irvine Special Assessment, 5.00%, 9/2/42
1,500,000

1,695,090

Irvine Special Tax, 5.00%, 9/1/39
1,000,000

1,112,770

Irvine Special Tax, 5.00%, 9/1/44
500,000

553,670

Irvine Special Tax, 5.00%, 9/1/49
4,500,000

4,965,660

Irvine Special Tax, (Irvine Community Facilities District No. 2013-3), 5.00%, 9/1/43
2,500,000

2,887,250

Irvine Special Tax, (Irvine Community Facilities District No. 2013-3), 5.00%, 9/1/48
4,250,000

4,891,920

Irvine Unified School District Special Tax, 5.00%, 9/1/29
550,000

669,141

Irvine Unified School District Special Tax, 5.00%, 9/1/29
700,000

851,634

Irvine Unified School District Special Tax, 5.00%, 9/1/31
420,000

506,293

Irvine Unified School District Special Tax, 5.00%, 9/1/34
500,000

597,055

Irvine Unified School District Special Tax, 6.70%, 9/1/35
515,000

531,434

Irvine Unified School District Special Tax, 4.00%, 9/1/49 (BAM)
2,150,000

2,412,300

Irvine Unified School District Special Tax, 4.00%, 9/1/54 (BAM)
2,600,000

2,893,254

Irvine Unified School District Special Tax, 5.00%, 3/1/57
3,500,000

4,033,015

Jurupa Community Services District Special Tax, 5.00%, 9/1/37
250,000

266,903

Jurupa Community Services District Special Tax, 5.00%, 9/1/40
1,605,000

1,848,511

Jurupa Community Services District Special Tax, 5.00%, 9/1/42
1,000,000

1,063,900

Jurupa Public Financing Authority Special Tax, 5.00%, 9/1/42
1,000,000

1,137,310

Jurupa Unified School District Special Tax, 5.00%, 9/1/33
1,220,000

1,431,084

Jurupa Unified School District Special Tax, 5.00%, 9/1/38
1,000,000

1,161,740

Jurupa Unified School District Special Tax, 5.00%, 9/1/43
1,255,000

1,448,634

Jurupa Unified School District Special Tax, 4.00%, 9/1/47
1,000,000

1,070,760

La Verne COP, (Brethren Hillcrest Homes), 5.00%, 5/15/36
1,100,000

1,166,363

Lake Elsinore Special Tax, (Lake Elsinore Community Facilities District No. 2016-2), 5.00%, 9/1/43
2,470,000

2,842,105

Lake Elsinore Special Tax, (Lake Elsinore Community Facilities District No. 2016-2), 5.00%, 9/1/48
3,640,000

4,171,950

Lake Elsinore Facilities Financing Authority Special Tax, 4.00%, 9/1/44
535,000

573,900

Lake Elsinore Public Financing Authority Special Tax, 5.00%, 9/1/34
535,000

597,007

Lake Elsinore Public Financing Authority Special Tax, 5.00%, 9/1/40
1,925,000

2,178,753

Lake Elsinore Unified School District Community Facilities District Special Tax, 4.00%, 9/1/42
600,000

641,166

Lake Elsinore Unified School District Community Facilities District Special Tax, 4.00%, 9/1/47
900,000

961,749

Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities Dist No. 2007-1), 6.00%, 9/1/43
1,250,000

1,423,150

Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities Dist No. 2014-1), 5.00%, 9/1/43
775,000

892,769

Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities Dist No. 2014-1), 5.00%, 9/1/47
3,750,000

4,357,500

Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities Dist No. 2014-1), 5.00%, 9/1/48
2,500,000

2,869,700

Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities District No. 200), 5.00%, 9/1/27
450,000

550,373

Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities District No. 200), 5.00%, 9/1/28
505,000

614,797



Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities District No. 200), 5.00%, 9/1/30
1,300,000

1,568,125

Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities District No. 200), 5.00%, 9/1/32
1,510,000

1,807,123

Long Beach Bond Finance Authority Rev., 5.50%, 11/15/37
1,150,000

1,622,892

Los Angeles Community Facilities District Special Tax, 6.40%, 9/1/22
480,000

482,510

Los Angeles County COP, 5.00%, 3/1/23
1,000,000

1,128,330

Los Angeles County Public Works Financing Authority Rev., (Los Angeles County), 5.00%, 12/1/49
9,170,000

11,360,805

Los Angeles County Schools COP, 5.00%, 6/1/20 (AGM)
1,305,000

1,330,682

Los Angeles County Schools COP, 5.00%, 6/1/21 (AGM)
1,895,000

2,007,734

Los Angeles Department of Water Rev., VRDN, 0.67%, 12/2/19 (SBBPA: Toronto-Dominion Bank)
33,600,000

33,600,000

Los Angeles Department of Water & Power System Rev., 5.00%, 7/1/30
3,500,000

3,973,200

Los Angeles Department of Water & Power System Rev., VRDN, 0.64%, 12/2/19 (SBBPA: Barclays Bank)
800,000

800,000

Los Angeles Department of Water & Power System Rev., VRDN, 0.70%, 12/2/19 (SBBPA: TD Bank N.A.)
1,500,000

1,500,000

Los Angeles Department of Water & Power System Rev., VRDN, 0.72%, 12/2/19 (SBBPA: Bank of America N.A.)
4,600,000

4,600,000

Los Angeles Unified School District COP, 5.00%, 10/1/29
350,000

384,391

Los Angeles Unified School District GO, 5.00%, 7/1/30
1,155,000

1,344,305

M-S-R Energy Authority Rev., 7.00%, 11/1/34
1,700,000

2,584,850

M-S-R Energy Authority Rev., 6.50%, 11/1/39
4,000,000

6,199,520

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/21
125,000

131,991

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/21
215,000

226,720

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/22
100,000

108,501

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/22
225,000

243,560

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/23
100,000

111,304

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/23
110,000

121,887

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/24
250,000

282,328

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/25
175,000

202,323

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/25
260,000

297,565

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/26
135,000

159,496

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/26
115,000

134,605

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/27
100,000

116,309

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/28
100,000

117,734

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/28
100,000

115,839

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/33
340,000

394,250

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/33
250,000

286,103

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/38
400,000

459,152

Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/38
250,000

283,513

Menifee Union School District Special Tax, 5.00%, 9/1/43
1,000,000

1,152,940

Menifee Union School District Special Tax, 5.00%, 9/1/44
1,000,000

1,172,070

Menifee Union School District Special Tax, 5.00%, 9/1/48
1,500,000

1,723,830

Menifee Union School District Special Tax, 5.00%, 9/1/48
1,300,000

1,518,374

Menifee Union School District Public Financing Authority Special Tax, 5.00%, 9/1/24
1,200,000

1,393,776

Menifee Union School District Public Financing Authority Special Tax, 5.00%, 9/1/26
755,000

894,433

Menifee Union School District Public Financing Authority Special Tax, 4.00%, 9/1/27
420,000

470,324

Menifee Union School District Public Financing Authority Special Tax, 5.00%, 9/1/28
325,000

383,221

Metropolitan Water District of Southern California Rev., VRDN, 0.68%, 12/2/19 (SBBPA: Bank of America N.A.)
1,000,000

1,000,000

Moorpark Rev., (Villa del Arroyo Moorpark LLC), 6.50%, 5/15/41
4,000,000

4,251,240

Moreno Valley Unified School District Community Facilities District Special Tax, (Moreno Valley Unified School District Community Facilities District No. 2015-2), 5.00%, 9/1/44
435,000

495,556

Moreno Valley Unified School District Community Facilities District Special Tax, (Moreno Valley Unified School District Community Facilities District No. 2015-2), 5.00%, 9/1/48
485,000

551,406



Murrieta Community Facilities District Special Tax, 5.00%, 9/1/42
655,000

763,599

Murrieta Community Facilities District Special Tax, 5.00%, 9/1/46
825,000

958,023

Murrieta Financing Authority Special Tax, 5.00%, 9/1/31
1,735,000

1,878,224

Murrieta Valley Unified School District Public Financing Authority Special Tax, 5.00%, 9/1/30
1,735,000

2,051,013

Murrieta Valley Unified School District Public Financing Authority Special Tax, 5.00%, 9/1/31
1,915,000

2,255,659

Murrieta Valley Unified School District Public Financing Authority Special Tax, 5.00%, 9/1/32
1,155,000

1,356,374

Napa Special Tax, 4.00%, 9/1/25
155,000

169,711

Napa Special Tax, 4.00%, 9/1/26
365,000

403,252

Napa Special Tax, 4.00%, 9/1/33
315,000

340,988

Napa Special Tax, 4.00%, 9/1/34
400,000

432,440

Norman Y Mineta San Jose International Airport SJC Rev., 5.25%, 3/1/34
2,605,000

2,731,499

Northern California Power Agency Rev., 5.00%, 7/1/31
1,090,000

1,194,030

Northern Inyo County Local Hospital District GO, 0.00%, 11/1/34(1)
1,325,000

805,282

Northern Inyo County Local Hospital District GO, 0.00%, 11/1/36(1)
2,885,000

1,612,225

Northern Inyo County Local Hospital District Rev., 3.875%, 12/1/27
3,745,000

3,885,924

Ontario Community Facilities District No. 24 Special Tax, 5.00%, 9/1/26
390,000

467,392

Ontario Community Facilities District No. 24 Special Tax, 5.00%, 9/1/41
2,065,000

2,372,561

Ontario Community Facilities District No. 24 Special Tax, 5.00%, 9/1/46
1,000,000

1,144,900

Ontario Community Facilities District No. 28 Special Tax, 5.00%, 9/1/42
1,000,000

1,128,150

Ontario Community Facilities District No. 28 Special Tax, 5.00%, 9/1/47
500,000

564,315

Ontario Community Facilities District No. 30 Special Tax, 4.00%, 9/1/42
1,395,000

1,496,430

Ontario Community Facilities District No. 30 Special Tax, 4.00%, 9/1/48
2,000,000

2,138,660

Ontario Community Facilities District No. 31 Special Tax, 5.00%, 9/1/42
1,050,000

1,227,986

Ontario Community Facilities District No. 34 Special Tax, 4.00%, 9/1/48
1,000,000

1,068,260

Orange County Community Facilities District Special Tax, 5.25%, 8/15/45
3,905,000

4,458,690

Orange County Community Facilities District Special Tax, 5.00%, 8/15/46
10,000,000

11,452,500

Orange County Community Facilities District Special Tax, 5.00%, 8/15/47
2,550,000

3,014,967

Oroville Rev., (Oroville Hospital), 5.25%, 4/1/39
2,350,000

2,817,532

Oroville Rev., (Oroville Hospital), 5.25%, 4/1/49
7,805,000

9,154,875

Oroville Rev., (Oroville Hospital), 5.25%, 4/1/54
3,000,000

3,502,260

Oxnard Financing Authority Rev., 5.00%, 6/1/34 (AGM)
2,750,000

3,164,452

Palm Desert Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 10/1/22 (BAM)
400,000

443,656

Palm Desert Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 10/1/24 (BAM)
475,000

559,759

Palm Desert Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 10/1/25 (BAM)
850,000

1,027,429

Palm Desert Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 10/1/26 (BAM)
600,000

740,370

Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/27
2,005,000

2,373,559

Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/30
3,000,000

3,499,230

Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/31
2,125,000

2,474,307

Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/36
8,465,000

9,736,189

Palomar Health Rev., (Palomar Health Obligated Group), 4.00%, 11/1/39
8,875,000

9,335,080

Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/39
8,250,000

9,400,462

Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/42
10,000,000

11,559,700

Paramount Unified School District GO, 4.00%, 8/1/48 (BAM)
2,500,000

2,744,375

Perris Joint Powers Authority Special Tax, 5.00%, 9/1/26
1,090,000

1,306,474

Perris Joint Powers Authority Special Tax, 5.00%, 9/1/27
1,000,000

1,222,010

Perris Joint Powers Authority Special Tax, 5.00%, 9/1/30
1,325,000

1,598,202

Perris Joint Powers Authority Special Tax, 5.00%, 9/1/34
1,555,000

1,850,201

Perris Union High School District Special Tax, 5.00%, 9/1/41
4,750,000

5,318,385

Pleasant Valley School District / Ventura County GO, 5.85%, 8/1/31 (NATL)
4,835,000

6,266,885



Poway Unified School District Public Financing Authority Special Tax, 5.00%, 9/1/34
995,000

1,137,603

Poway Unified School District Public Financing Authority Special Tax, 5.00%, 9/1/35
990,000

1,129,640

Poway Unified School District Public Financing Authority Special Tax, 5.00%, 9/1/36
1,245,000

1,416,972

Rancho Cordova Special Tax, 4.00%, 9/1/31
1,350,000

1,462,334

Rancho Cordova Special Tax, 4.00%, 9/1/37
3,000,000

3,210,150

Rancho Cordova Special Tax, 5.00%, 9/1/40
1,195,000

1,348,091

Rancho Cordova Special Tax, 4.00%, 9/1/45
1,025,000

1,093,091

Rancho Cordova Special Tax, 5.00%, 9/1/45
1,250,000

1,404,938

Rancho Cordova Special Tax, (Rancho Cordova Grantline 208 Community Facilities District No. 2018-1), 5.00%, 9/1/39(3)
345,000

397,340

Rancho Cordova Special Tax, (Rancho Cordova Grantline 208 Community Facilities District No. 2018-1), 5.00%, 9/1/44(3)
410,000

468,651

Rancho Cordova Special Tax, (Rancho Cordova Grantline 208 Community Facilities District No. 2018-1), 5.00%, 9/1/49(3)
530,000

604,068

Redding Electric System Rev., 5.00%, 6/1/21
400,000

424,292

Redding Electric System Rev., 5.00%, 6/1/23
740,000

843,038

Redwood City Redevelopment Agency Successor Agency Tax Allocation, Capital Appreciation, 0.00%, 7/15/28 (Ambac)(1)
3,405,000

2,821,519

Rio Elementary School District Community Facilities District Special Tax, 5.50%, 9/1/23, Prerefunded at 100% of Par(6)
1,785,000

2,073,742

Rio Elementary School District Community Facilities District Special Tax, 5.00%, 9/1/35
2,550,000

2,852,838

Rio Vista Community Facilities District Special Tax, 5.00%, 9/1/38
1,070,000

1,241,104

Rio Vista Community Facilities District Special Tax, 5.00%, 9/1/48
1,190,000

1,366,763

River Islands Public Financing Authority Special Tax, 5.50%, 9/1/45
3,500,000

3,797,080

River Islands Public Financing Authority Special Tax, 5.50%, 9/1/45
5,000,000

5,424,400

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/30
1,035,000

1,113,815

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/35
2,520,000

2,696,400

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/40
2,250,000

2,545,312

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/42
3,000,000

3,191,880

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/42
1,110,000

1,298,156

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/44
2,735,000

3,084,615

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/45
540,000

629,419

Riverside County Community Facilities Districts Special Tax, 5.00%, 9/1/48
2,500,000

2,871,350

Riverside County Transportation Commission Rev., 5.75%, 6/1/44
500,000

559,295

Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/41(1)
2,000,000

1,047,800

Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/42(1)
3,320,000

1,677,164

Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/43(1)
5,000,000

2,436,250

Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 32), 4.00%, 9/1/43
1,600,000

1,720,928

Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 32), 4.00%, 9/1/48
1,850,000

1,992,783

Romoland School District Special Tax, 5.00%, 9/1/35
4,685,000

5,351,066

Romoland School District Special Tax, 5.00%, 9/1/38
2,900,000

3,294,690

Romoland School District Special Tax, 5.00%, 9/1/41
1,250,000

1,463,938

Romoland School District Special Tax, 5.00%, 9/1/43
2,640,000

2,866,644

Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2004-1 Heritage Lake), 5.00%, 9/1/43
3,000,000

3,461,550

Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2004-1 Heritage Lake), 5.00%, 9/1/48
3,250,000

3,734,640

Roseville Special Tax, 5.00%, 9/1/32(2)
1,265,000

1,469,930

Roseville Special Tax, 5.00%, 9/1/40
1,670,000

1,955,019

Roseville Special Tax, 5.00%, 9/1/44
1,475,000

1,720,484

Roseville Special Tax, 5.00%, 9/1/47(2)
6,500,000

7,412,405

Roseville Special Tax, 5.00%, 9/1/49
2,325,000

2,698,441



Roseville Special Tax, (Roseville Fiddyment Ranch Community Facilities District No. 5), 5.00%, 9/1/49
1,000,000

1,157,840

Roseville Special Tax, (Roseville SVSP Westpark-Federico Community Facilities District No. 1), 5.00%, 9/1/39
445,000

506,050

Roseville Special Tax, (Roseville SVSP Westpark-Federico Community Facilities District No. 1), 5.00%, 9/1/44
500,000

564,985

Roseville Special Tax, (Roseville SVSP Westpark-Federico Community Facilities District No. 1), 5.00%, 9/1/49
700,000

788,690

Roseville Special Tax, (Villages at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/36
685,000

803,806

Roseville Special Tax, (Villages at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/39
695,000

812,698

Roseville Special Tax, (Villages at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/44
1,615,000

1,873,174

Roseville Special Tax, (Villages at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/49
2,035,000

2,353,457

Roseville Special Tax, (Westbrook Community Facilities District No. 1), 5.00%, 9/1/37
1,250,000

1,422,663

Roseville Special Tax, (Westbrook Community Facilities District No. 1), 5.00%, 9/1/43
2,840,000

3,268,698

Roseville Special Tax, (Westbrook Community Facilities District No. 1), 5.00%, 9/1/44
1,650,000

1,826,401

Roseville Special Tax, (Westbrook Community Facilities District No. 1), 5.00%, 9/1/48
2,030,000

2,326,806

Roseville Natural Gas Financing Authority Rev., 5.00%, 2/15/27
5,000,000

6,041,900

Sacramento Special Tax, 5.00%, 9/1/32(2)
300,000

340,647

Sacramento Special Tax, 5.00%, 9/1/41
1,900,000

2,190,700

Sacramento Special Tax, 5.00%, 9/1/44
500,000

576,855

Sacramento Special Tax, 5.00%, 9/1/46
2,250,000

2,583,877

Sacramento Special Tax, 5.00%, 9/1/47(2)
1,900,000

2,135,467

Sacramento Special Tax, 5.00%, 9/1/49
1,000,000

1,149,050

Sacramento County Special Tax, 5.00%, 9/1/29
1,000,000

1,203,080

Sacramento County Special Tax, 5.00%, 9/1/30
1,170,000

1,406,679

Sacramento County Special Tax, 5.00%, 9/1/31
1,355,000

1,621,623

Sacramento County Special Tax, 5.00%, 9/1/32
665,000

792,720

Sacramento County Special Tax, 5.00%, 9/1/35
2,335,000

2,758,032

Sacramento County Special Tax, 5.00%, 9/1/40
2,325,000

2,678,772

Sacramento County Special Tax, 5.00%, 9/1/40
3,000,000

3,506,340

Sacramento County Special Tax, 5.00%, 9/1/45
4,645,000

5,326,421

Sacramento County Special Tax, 5.00%, 9/1/46
3,385,000

3,877,281

Sacramento Transportation Authority Rev., 5.00%, 10/1/24
1,055,000

1,174,215

San Bernardino County Special Tax, (County of San Bernardino CA Community Facilities District No. 2002-1), 5.00%, 9/1/33
3,000,000

3,369,180

San Bernardino County Special Tax, (County of San Bernardino CA Community Facilities District No. 2002-1), 4.00%, 9/1/42
700,000

751,548

San Bernardino County Special Tax, (County of San Bernardino CA Community Facilities District No. 2002-1), 4.00%, 9/1/48
1,000,000

1,068,610

San Bernardino County Special Tax, (County of San Bernardino CA Community Facilities District No. 2006-1), 5.00%, 9/1/43
1,300,000

1,499,238

San Bernardino County Special Tax, (County of San Bernardino CA Community Facilities District No. 2006-1), 5.00%, 9/1/48
1,200,000

1,378,248

San Buenaventura Rev., (Community Memorial Health System), 7.50%, 12/1/41
11,100,000

12,221,877

San Clemente Special Tax, 5.00%, 9/1/46
7,620,000

8,581,568

San Diego Special Tax, 5.00%, 9/1/37
970,000

1,119,613

San Diego County Rev., (Sanford Burnham Prebys Medical Discovery Institute), 5.00%, 11/1/25
835,000

1,004,146

San Diego County Rev., (Sanford Burnham Prebys Medical Discovery Institute), 5.00%, 11/1/26
525,000

628,714

San Diego County Rev., (Sanford Burnham Prebys Medical Discovery Institute), 5.00%, 11/1/30
725,000

859,691

San Diego County Special Tax, (San County Diego Community Facilities District No. 2008-01), 4.00%, 9/1/43
1,255,000

1,345,598

San Diego County Special Tax, (San County Diego Community Facilities District No. 2008-01), 4.00%, 9/1/48
1,250,000

1,335,763

San Diego County Regional Airport Authority Rev., 5.00%, 7/1/24
300,000

342,033

San Diego County Regional Airport Authority Rev., 5.00%, 7/1/25
955,000

1,088,089

San Diego County Regional Airport Authority Rev., 5.00%, 7/1/26
500,000

568,545

San Diego County Regional Airport Authority Rev., 5.00%, 7/1/44
1,500,000

1,714,245



San Diego County Regional Airport Authority Rev., 5.00%, 7/1/47
7,625,000

9,108,825

San Diego County Regional Airport Authority Rev., 5.00%, 7/1/49(3)
2,000,000

2,465,940

San Diego Public Facilities Financing Authority Rev., 5.00%, 8/1/30
2,000,000

2,200,200

San Diego Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/21
390,000

417,608

San Diego Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/22
545,000

605,282

San Diego Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/23
650,000

746,902

San Diego Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/24
700,000

830,704

San Diego Unified Port District Rev., 5.00%, 9/1/26
750,000

847,598

San Francisco City & County Redevelopment Agency Successor Agency Special Tax, Capital Appreciation, 0.00%, 8/1/43(1)
5,500,000

1,526,140

San Francisco City & County Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 8/1/33
780,000

900,206

San Gorgonio Memorial Health Care District GO, 5.00%, 8/1/20
1,000,000

1,024,390

San Gorgonio Memorial Health Care District GO, 5.00%, 8/1/21
275,000

291,077

San Jacinto Community Facilities District Special Tax, 5.00%, 9/1/28
1,080,000

1,276,117

San Jacinto Community Facilities District Special Tax, 5.00%, 9/1/29
1,165,000

1,370,599

San Jacinto Community Facilities District Special Tax, 5.00%, 9/1/32
450,000

525,794

San Jacinto Community Facilities District Special Tax, 5.00%, 9/1/33
1,280,000

1,494,720

San Jacinto Community Facilities District Special Tax, 5.00%, 9/1/34
335,000

390,288

San Joaquin Hills Transportation Corridor Agency Rev., 5.25%, 1/15/44
6,000,000

6,772,740

San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/25 (NATL)(1)
3,090,000

2,746,763

San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/29 (NATL)(1)
165,000

128,198

San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/31 (NATL)(1)
16,000,000

11,585,920

San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/32 (NATL)(1)
290,000

201,866

San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/36 (NATL)(1)
1,335,000

802,522

San Mateo Special Tax, 6.00%, 9/1/42
500,000

551,015

San Mateo Special Tax, 5.50%, 9/1/44
2,250,000

2,425,995

Santa Clara Unified School District GO, 4.00%, 7/1/48
4,275,000

4,719,258

Santa Margarita Water District Special Tax, 5.625%, 9/1/43
1,200,000

1,327,200

Santaluz Community Facilities District No. 2 Special Tax, 5.10%, 9/1/30
465,000

494,435

Saugus-Castaic School Facilities Financing Authority Special Tax, 6.00%, 9/1/43
1,465,000

1,637,665

Saugus/Hart School Facilities Financing Authority Special Tax, 5.00%, 9/1/41
1,235,000

1,408,604

Saugus/Hart School Facilities Financing Authority Special Tax, 5.00%, 9/1/46
1,245,000

1,414,619

Silicon Valley Tobacco Securitization Authority Rev., Capital Appreciation, 0.00%, 6/1/36(1)
32,000,000

12,817,280

Silicon Valley Tobacco Securitization Authority Rev., Capital Appreciation, 0.00%, 6/1/41(1)
11,465,000

3,439,959

Southern California Public Power Authority Rev., 5.00%, 11/1/29
2,000,000

2,499,660

Southern California Public Power Authority Rev., 5.00%, 11/1/33
3,755,000

4,916,384

Southern Mono Health Care District GO, Capital Appreciation, 0.00%, 8/1/26 (NATL)(1)
1,800,000

1,579,230

State of California GO, 5.00%, 10/1/24
14,590,000

17,223,495

State of California GO, 5.25%, 2/1/30
5,000,000

5,440,700

State of California GO, 5.00%, 9/1/34
10,000,000

12,113,800

State of California GO, 4.00%, 10/1/36
10,000,000

11,729,600

State of California GO, 5.00%, 11/1/47
8,375,000

10,164,235

State of California GO, 5.00%, 4/1/49
2,000,000

2,490,860

State of California GO, VRDN, 0.62%, 12/2/19 (LOC: Barclays Bank plc)
4,800,000

4,800,000

State of California GO, VRDN,(Kindergarten A10), 0.65%, 12/6/19 (LOC: Citibank N.A.)
4,500,000

4,500,000

State of California GO, VRN, 2.25%, (MUNIPSA plus 1.15%), 5/1/20
960,000

960,346

Stockton Public Financing Authority Rev., 6.25%, 10/1/23, Prerefunded at 100% of Par(6)
1,750,000

2,091,250

Stockton Public Financing Authority Rev., 5.00%, 9/1/28 (BAM)
2,215,000

2,585,968

Stockton Public Financing Authority Rev., 5.00%, 9/1/29 (BAM)
1,750,000

2,036,317

Stockton Public Financing Authority Rev., (Stockton Water Rev.), 5.00%, 10/1/33 (BAM)
1,000,000

1,253,270



Stockton Public Financing Authority Rev., (Stockton Water Rev.), 5.00%, 10/1/34 (BAM)
1,000,000

1,248,520

Stockton Public Financing Authority Rev., (Stockton), 5.00%, 9/1/37
2,500,000

2,906,250

Stockton Public Financing Authority Rev., (Stockton), 5.00%, 9/1/43
3,000,000

3,459,450

Sulphur Springs Union School District Special Tax, (Sulphur Springs School District Community Facilities District No. 2006-1), 5.00%, 9/1/43
1,410,000

1,597,375

Sulphur Springs Union School District Special Tax, (Sulphur Springs School District Community Facilities District No. 2006-1), 5.00%, 9/1/47
1,820,000

2,057,364

Sunnyvale Special Tax, 7.75%, 8/1/32
6,500,000

6,520,475

Tahoe-Truckee Unified School District GO, Capital Appreciation, 0.00%, 8/1/22 (NATL)(1)
2,690,000

2,596,200

Tahoe-Truckee Unified School District GO, Capital Appreciation, 0.00%, 8/1/23 (NATL)(1)
2,220,000

2,109,000

Tejon Ranch Public Facilities Finance Authority Special Tax, 5.00%, 9/1/45
6,000,000

6,756,720

Temecula Valley Unified School District Community Facilities District Special Tax, (Temecula Valley Unified School District Community Facilities District No. 2014-1), 5.00%, 9/1/43
1,000,000

1,154,430

Temescal Valley Water District Special Tax, (Temescal Valley Water District Community Facilities District No. 4 Terramor), 5.00%, 9/1/43
4,730,000

5,361,360

Temescal Valley Water District Special Tax, (Temescal Valley Water District Community Facilities District No. 4 Terramor), 5.00%, 9/1/48
6,040,000

6,832,388

Tobacco Securitization Authority of Northern California Rev., (Sacramento County Tobacco Securitization Corp.), 5.50%, 6/1/45
2,000,000

2,007,760

Tobacco Securitization Authority of Northern California Rev., (Sacramento County Tobacco Securitization Corp.), Capital Appreciation, 0.00%, 6/1/45(1)
20,000,000

2,684,800

Tobacco Securitization Authority of Northern California Rev., (Sacramento County Tobacco Securitization Corp.), Capital Appreciation, 0.00%, 6/1/45(1)
25,000,000

5,573,500

Tobacco Securitization Authority of Southern California Rev., 5.00%, 6/1/48
10,000,000

11,501,600

Tobacco Securitization Authority of Southern California Rev., (San Diego County Tobacco Asset Securitization Corp.), Capital Appreciation, 0.00%, 6/1/46(1)
25,000,000

3,355,750

Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/34
1,570,000

1,835,236

Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/39
1,280,000

1,481,907

Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/43
2,500,000

2,879,575

Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/44
1,300,000

1,496,326

Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/48
2,750,000

3,153,782

Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/49
1,875,000

2,148,562

Tracy Public Financing Authority Special Tax, 5.00%, 9/2/20
2,100,000

2,154,054

Tulare Sewer Rev., 5.00%, 11/15/22 (AGM)
500,000

556,560

Tulare Sewer Rev., 5.00%, 11/15/24 (AGM)
500,000

591,340

Tulare Sewer Rev., 5.00%, 11/15/25 (AGM)
400,000

488,136

Tustin Community Facilities District Special Tax, 5.00%, 9/1/37
3,330,000

3,786,776

Tustin Community Facilities District Special Tax, 5.00%, 9/1/40
1,100,000

1,244,375

Tustin Community Facilities District Special Tax, 5.00%, 9/1/45
2,200,000

2,479,972

Upland COP, (San Antonio Regional Hospital Obligated Group), 4.00%, 1/1/42
3,000,000

3,176,430

Upland COP, (San Antonio Regional Hospital Obligated Group), 5.00%, 1/1/47
2,500,000

2,870,650

Val Verde Unified School District Special Tax, 5.00%, 9/1/37
1,750,000

1,970,132

Victorville Joint Powers Finance Authority Rev., VRDN, 1.10%, 12/6/19 (LOC: BNP Paribas)
6,430,000

6,430,000

Washington Township Health Care District Rev., 5.00%, 7/1/24
500,000

575,935

Washington Township Health Care District Rev., 5.00%, 7/1/25
500,000

588,540

Washington Township Health Care District Rev., 5.00%, 7/1/26
400,000

470,692

Washington Township Health Care District Rev., 5.00%, 7/1/26
550,000

659,148

Washington Township Health Care District Rev., 3.25%, 7/1/27
1,000,000

1,070,340

Washington Township Health Care District Rev., 5.00%, 7/1/27
600,000

730,008

Washington Township Health Care District Rev., 3.50%, 7/1/28
750,000

802,920

Washington Township Health Care District Rev., 5.00%, 7/1/28
1,300,000

1,600,157

Washington Township Health Care District Rev., 3.75%, 7/1/29
1,000,000

1,077,680

Washington Township Health Care District Rev., 5.00%, 7/1/29
1,400,000

1,742,370



West Valley-Mission Community College District GO, 4.00%, 8/1/44
8,000,000

9,136,160

Whittier Rev., (Presbyterian Intercommunity Hospital Obligated Group), 5.00%, 6/1/44
3,500,000

3,875,270

William S Hart Union High School District Special Tax, 5.00%, 9/1/42
1,350,000

1,551,893

William S Hart Union High School District Special Tax, 5.00%, 9/1/47
2,350,000

2,690,491

Woodland Special Tax, 4.00%, 9/1/41
2,735,000

2,899,073

Woodland Special Tax, 4.00%, 9/1/45
2,740,000

2,895,769

Yuba City Unified School District GO, Capital Appreciation, 0.00%, 3/1/25 (NATL)(1)
1,500,000

1,368,330

 
 
1,520,639,064

Guam — 1.0%
 
 
Guam Government Rev., 5.125%, 1/1/42
1,000,000

1,043,730

Guam Government Power Authority Rev., 5.00%, 10/1/34
850,000

906,797

Guam Government Power Authority Rev., 5.00%, 10/1/36
1,940,000

2,232,513

Guam Government Power Authority Rev., 5.00%, 10/1/37
1,575,000

1,806,478

Guam Government Waterworks Authority Rev., 5.00%, 7/1/40
3,115,000

3,595,956

Guam Government Waterworks Authority Rev., 5.00%, 1/1/46
3,000,000

3,381,450

Port Authority of Guam Government Rev., 5.00%, 7/1/48
1,500,000

1,765,200

 
 
14,732,124

TOTAL INVESTMENT SECURITIES — 99.6%
(Cost $1,439,097,890)
 
1,535,371,188

OTHER ASSETS AND LIABILITIES — 0.4%
 
6,158,811

TOTAL NET ASSETS — 100.0%
 
$
1,541,529,999

NOTES TO SCHEDULE OF INVESTMENTS
AGM
-
Assured Guaranty Municipal Corporation
BAM
-
Build America Mutual Assurance Company
BAM-TCRS
-
Build America Mutual Assurance Company - Transferrable Custodial Receipts

COP
-
Certificates of Participation
GA
-
Guaranty Agreement
GO
-
General Obligation
LOC
-
Letter of Credit
MUNIPSA
-
SIFMA Municipal Swap Index
NATL
-
National Public Finance Guarantee Corporation
SBBPA
-
Standby Bond Purchase Agreement
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.
(1)
Security is a zero-coupon bond. Zero-coupon securities are issued at a substantial discount from their value at maturity.
(2)
Security was purchased pursuant to Rule 144A 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 $193,696,192, which represented 12.6% of total net assets.
(3)
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.
(4)
Non-income producing.
(5)
Security is in default.
(6)
Escrowed to maturity in U.S. government securities or state and local government securities.






SUPPLEMENTARY NOTES TO SCHEDULE OF INVESTMENTS
 
1. Investment Valuations

The fund determines the fair value of its investments and computes its net asset value 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 Board of Trustees has adopted valuation policies and procedures to guide the investment advisor in the fund’s investment valuation process and to provide methodologies for the oversight of the fund’s pricing function.
 
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.
 
Exchange-traded futures contracts are valued at the settlement price as provided by the appropriate exchange.
 
If the fund determines that the market price for an investment is not readily available or the valuation methods mentioned above do not reflect an investment’s fair value, such investment is valued as determined in good faith by the Board of Trustees or its delegate, in accordance with policies and procedures adopted by the Board of Trustees. In its determination of fair value, the fund may review several factors including, but not limited to, market information regarding the specific investment or comparable investments and correlation with other investment types, futures indices or general market indicators. Circumstances that may cause the fund to use these procedures to value an investment include, but are not limited to: an investment has been declared in default or is distressed; trading in a security has been suspended during the trading day or a security is not actively trading on its principal exchange; prices received from a regular pricing source are deemed unreliable; or there is a foreign market holiday and no trading occurred.
 
The fund monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s net asset value per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; 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.
 
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.
 
As of period end, the fund’s investment securities were classified as Level 2. The Schedule of Investments provides additional information on the fund’s portfolio holdings.



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 shareholder report.