NPORT-EX 2 acfb_q1holdings933.htm PART F Document

American Century Investments®
Quarterly Portfolio Holdings
California High-Yield Municipal Fund
November 30, 2023


California High-Yield Municipal - Schedule of Investments
NOVEMBER 30, 2023 (UNAUDITED) 
Principal Amount ($)Value ($)
MUNICIPAL SECURITIES — 100.0%
California — 98.8%
Alameda Community Facilities District Special Tax, (District No. 13-1), 5.00%, 9/1/42
1,250,000 1,267,417 
Alameda Community Facilities District Special Tax, (District No. 22-1), 5.00%, 9/1/48
750,000 713,251 
Alameda Community Facilities District Special Tax, (District No. 22-1), 5.00%, 9/1/53
1,175,000 1,102,694 
Alameda Corridor Transportation Authority Rev., Capital Appreciation, VRN, 0.00%, 10/1/52 (AGM)
12,000,000 6,161,659 
Alameda Corridor Transportation Authority Rev., 5.00%, 10/1/36
2,700,000 2,752,328 
Anaheim City School District GO, 5.00%, 8/1/51 (AGM)
4,000,000 4,358,243 
Antelope Valley Healthcare District Rev., 5.00%, 3/1/46
5,000,000 4,660,088 
Bay Area Toll Authority Rev., 4.00%, 4/1/31
3,200,000 3,305,696 
Bay Area Toll Authority Rev., 4.00%, 4/1/38
2,080,000 2,100,089 
Bay Area Toll Authority Rev., 4.125%, 4/1/54
3,750,000 3,741,271 
Bay Area Toll Authority Rev., VRN, 3.75%, (MUNIPSA plus 0.45%), 4/1/56
1,750,000 1,722,464 
Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 4.00%, 9/1/40
1,250,000 1,141,847 
Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 5.00%, 9/1/43
1,605,000 1,644,663 
Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 4.00%, 9/1/45
1,510,000 1,326,884 
Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 5.00%, 9/1/48
2,535,000 2,581,988 
Beaumont Special Tax, (Beaumont Community Facilities District No. 93-1), 4.00%, 9/1/50
1,500,000 1,272,555 
California Community Choice Financing Authority Rev., VRN, 3.75%, (MUNIPSA plus 0.45%), 2/1/52 (GA: Morgan Stanley)
10,000,000 8,795,528 
California Community Choice Financing Authority Rev., VRN, 5.00%, 12/1/53 (GA: Goldman Sachs Group, Inc.)
3,000,000 3,122,632 
California Community Choice Financing Authority Rev., VRN, 5.00%, 2/1/54 (GA: Morgan Stanley)
2,600,000 2,721,795 
California Community Choice Financing Authority Rev., VRN, 5.50%, 10/1/54 (GA: National Bank of Canada)
2,335,000 2,541,502 
California Community Choice Financing Authority Rev., VRN, 5.25%, 11/1/54 (GA: Goldman Sachs Group, Inc.)(1)
4,000,000 4,225,147 
California Community College Financing Authority Rev., (NCCD-Orange Coast Properties LLC), 5.25%, 5/1/43
3,200,000 3,236,190 
California Community College Financing Authority Rev., (NCCD-Orange Coast Properties LLC), 5.25%, 5/1/48
4,500,000 4,527,891 
California Community Housing Agency Rev., (Fountains at Emerald Park), 4.00%, 8/1/46(2)
3,090,000 2,465,212 
California Community Housing Agency Rev., (Verdant at Green Valley Apartments), 5.00%, 8/1/49(2)
9,000,000 8,179,909 
California County Tobacco Securitization Agency Rev., 4.00%, 6/1/49
750,000 675,566 
California County Tobacco Securitization Agency Rev., 5.00%, 6/1/49
350,000 355,033 
California County Tobacco Securitization Agency Rev., (Alameda County Tobacco Securitization Corp.), 0.00%, 6/1/50(3)
22,520,000 4,468,259 
California County Tobacco Securitization Agency Rev., Capital Appreciation, 0.00%, 6/1/55(3)
5,020,000 826,824 
California Enterprise Development Authority Rev., (Academy For Academic Excellence), 5.00%, 7/1/40(2)
500,000 481,435 
California Enterprise Development Authority Rev., (Academy For Academic Excellence), 5.00%, 7/1/50(2)
500,000 456,181 
California Enterprise Development Authority Rev., (Academy For Academic Excellence), 5.00%, 7/1/55(2)
350,000 313,820 
California Health Facilities Financing Authority Rev., 4.00%, 4/1/49
9,710,000 9,123,649 
California Housing Finance Rev., 4.25%, 1/15/35
3,108,703 3,060,724 
California Housing Finance Rev., 3.50%, 11/20/35
11,680,789 10,863,171 
California Infrastructure & Economic Development Bank Rev., 4.00%, 10/1/42
15,165,000 15,494,417 
California Infrastructure & Economic Development Bank Rev., (California Science Center Foundation), 4.00%, 5/1/51
4,000,000 3,674,329 
California Infrastructure & Economic Development Bank Rev., (Equitable School Revolving Fund LLC Obligated Group), 4.00%, 11/1/46
1,500,000 1,376,416 
California Infrastructure & Economic Development Bank Rev., (Equitable School Revolving Fund LLC Obligated Group), 4.00%, 11/1/51
1,600,000 1,421,951 
California Municipal Finance Authority COP, (Palomar Health Obligated Group), 5.25%, 11/1/52 (AGM)
2,335,000 2,558,122 
California Municipal Finance Authority Rev., (Bowles Hall Foundation), 5.00%, 6/1/50
1,750,000 1,750,976 
California Municipal Finance Authority Rev., (California Baptist University), 5.00%, 11/1/46(2)
8,325,000 7,724,802 
California Municipal Finance Authority Rev., (CHF-Davis I LLC), 5.00%, 5/15/32 (BAM-TCRS)
3,000,000 3,204,410 
California Municipal Finance Authority Rev., (CHF-Davis I LLC), 5.00%, 5/15/51
12,205,000 12,231,138 
California Municipal Finance Authority Rev., (CHF-Davis II LLC), 4.00%, 5/15/41 (BAM)
1,000,000 941,024 


California Municipal Finance Authority Rev., (Claremont Graduate University), 5.00%, 10/1/49(2)
2,145,000 1,962,024 
California Municipal Finance Authority Rev., (Claremont Graduate University), 5.00%, 10/1/54(2)
1,875,000 1,687,810 
California Municipal Finance Authority Rev., (Clinicas del Camino Real Incorporated), 4.00%, 3/1/40
2,750,000 2,222,339 
California Municipal Finance Authority Rev., (Clinicas del Camino Real Incorporated), 4.00%, 3/1/50
6,785,000 4,939,785 
California Municipal Finance Authority Rev., (Community Health Centers of The Central Coast, Inc.), 5.00%, 12/1/54(2)
1,590,000 1,492,926 
California Municipal Finance Authority Rev., (Community Hospitals of Central California Obligated Group), 4.00%, 2/1/51
2,000,000 1,723,067 
California Municipal Finance Authority Rev., (Congregational Home Obligated Group), 5.00%, 11/15/49
4,750,000 4,220,043 
California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.00%, 11/1/26(2)
295,000 285,239 
California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.00%, 11/1/36(2)
1,400,000 1,191,409 
California Municipal Finance Authority Rev., (Creative Center of Los Altos), 4.50%, 11/1/46(2)
3,100,000 2,508,375 
California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/35
1,500,000 1,552,036 
California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/35
3,500,000 3,621,417 
California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/36
1,580,000 1,626,572 
California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/37
1,500,000 1,535,244 
California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/42
1,750,000 1,763,489 
California Municipal Finance Authority Rev., (Eisenhower Medical Center), 5.00%, 7/1/47
3,000,000 3,004,513 
California Municipal Finance Authority Rev., (Emerson College), 5.00%, 1/1/42
5,250,000 5,297,563 
California Municipal Finance Authority Rev., (Healthright 360), 5.00%, 11/1/29(2)
1,670,000 1,707,054 
California Municipal Finance Authority Rev., (Healthright 360), 5.00%, 11/1/39(2)
3,535,000 3,456,625 
California Municipal Finance Authority Rev., (Healthright 360), 5.00%, 11/1/49(2)
4,450,000 4,000,999 
California Municipal Finance Authority Rev., (HumanGood California Obligated Group), 4.00%, 10/1/49
6,250,000 5,502,591 
California Municipal Finance Authority Rev., (P3 Claremont Holdings LLC), 5.00%, 7/1/40(2)
1,515,000 1,406,776 
California Municipal Finance Authority Rev., (P3 Claremont Holdings LLC), 5.00%, 7/1/52(2)
2,075,000 1,813,317 
California Municipal Finance Authority Rev., (Palmdale Aerospace Academy, Inc.), 5.00%, 7/1/49(2)
5,100,000 4,584,334 
California Municipal Finance Authority Rev., (River Charter Schools), 5.50%, 6/1/38(2)
800,000 798,413 
California Municipal Finance Authority Rev., (River Charter Schools), 5.50%, 6/1/48(2)
2,265,000 2,173,855 
California Municipal Finance Authority Rev., (River Charter Schools), 5.50%, 6/1/53(2)
1,805,000 1,714,290 
California Municipal Finance Authority Rev., (Samuel Merritt University), 5.25%, 6/1/53
4,000,000 4,244,659 
California Municipal Finance Authority Rev., (Santa Rosa Academy LLC), 5.125%, 7/1/35(2)
905,000 908,695 
California Municipal Finance Authority Rev., (Santa Rosa Academy LLC), 5.375%, 7/1/45(2)
1,400,000 1,383,210 
California Municipal Finance Authority Rev., (William Jessup University), 5.00%, 8/1/48(2)
8,450,000 7,243,100 
California Municipal Finance Authority Special Tax, 4.00%, 9/1/43
1,000,000 840,354 
California Municipal Finance Authority Special Tax, 4.00%, 9/1/50
1,500,000 1,206,730 
California Municipal Finance Authority Special Tax, 5.75%, 9/1/53
1,850,000 1,912,786 
California Municipal Finance Authority Special Tax, 5.00%, 9/1/57
5,000,000 5,035,444 
California Municipal Finance Authority Special Tax, (Community Facilities District No. 2021-13), 5.00%, 9/1/47
2,000,000 1,996,436 
California Municipal Finance Authority Special Tax, (Community Facilities District No. 2021-6), 6.00%, 9/1/52
1,700,000 1,743,286 
California Municipal Finance Authority Special Tax, (Facilities District No. 2020-4), 4.00%, 9/1/46
2,290,000 1,955,131 
California Municipal Finance Authority Special Tax, (Facilities District No. 2020-4), 4.00%, 9/1/51
3,145,000 2,607,039 
California Pollution Control Financing Authority Rev., (San Diego County Water Authority), 5.00%, 11/21/45(2)
2,500,000 2,522,191 
California Public Finance Authority Rev., (Crossroads Christian Schools Obligated Group), 5.00%, 1/1/56(2)
4,000,000 3,177,451 
California Public Finance Authority Rev., (Hoag Memorial Hospital Presbyterian Obligated Group), VRDN, 2.50%, 12/1/23 (LIQ FAC: JPMorgan Chase Bank N.A.)
500,000 500,000 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 3.125%, 5/15/29(2)
2,580,000 2,391,356 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/36(2)
1,160,000 1,108,815 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/46(2)
1,545,000 1,357,251 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/51(2)
1,150,000 989,483 
California Public Finance Authority Rev., (Kendal at Sonoma Obligated Group), 5.00%, 11/15/56(2)
1,260,000 1,061,010 
California School Finance Authority Rev., 5.00%, 6/1/37(2)
475,000 459,608 
California School Finance Authority Rev., 5.00%, 6/1/47(2)
875,000 786,842 
California School Finance Authority Rev., (Alliance for College Ready Public Schools Obligated Group), 5.00%, 7/1/31(2)
4,000,000 4,093,322 
California School Finance Authority Rev., (Alliance for College Ready Public Schools Obligated Group), 5.00%, 7/1/45(2)
5,000,000 4,990,949 
California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/25, Prerefunded at 100% of Par(2)(4)
110,000 113,611 


California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/45(2)
1,100,000 1,101,946 
California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 4.00%, 8/1/51(2)
1,300,000 1,084,119 
California School Finance Authority Rev., (Aspire Public Schools Obligated Group), 5.00%, 8/1/61(2)
4,000,000 3,906,890 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 2.00%, 6/1/27(2)
930,000 838,015 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 5.00%, 6/1/37(2)
1,800,000 1,748,409 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 4.00%, 6/1/39(2)
1,085,000 912,743 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 5.00%, 6/1/47(2)
3,130,000 2,830,183 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 4.00%, 6/1/51(2)
1,730,000 1,279,875 
California School Finance Authority Rev., (Bright Star Schools Obligated Group), 4.00%, 6/1/61(2)
2,220,000 1,553,203 
California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.00%, 6/1/26(2)
1,430,000 1,405,728 
California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.50%, 6/1/31(2)
1,500,000 1,491,517 
California School Finance Authority Rev., (Downtown College Prep Obligated Group), 4.75%, 6/1/36(2)
1,500,000 1,466,826 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/30(2)
1,110,000 1,111,398 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/37(2)
430,000 408,136 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/48(2)
2,100,000 1,834,690 
California School Finance Authority Rev., (Ednovate Obligated Group), 5.00%, 6/1/56(2)
2,000,000 1,700,438 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/38(2)
1,130,000 1,148,050 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.375%, 8/1/42(2)
500,000 517,935 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/45(2)
3,500,000 3,501,235 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.00%, 8/1/48(2)
3,630,000 3,594,584 
California School Finance Authority Rev., (Green Dot Public Schools Obligated Group), 5.75%, 8/1/52(2)
1,650,000 1,731,706 
California School Finance Authority Rev., (Kepler Education, Inc.), 5.75%, 5/1/37(2)
1,050,000 1,048,964 
California School Finance Authority Rev., (Kepler Education, Inc.), 5.875%, 5/1/47(2)
2,425,000 2,345,586 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 4.125%, 7/1/24(2)
127,000 127,046 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.00%, 7/1/34(2)
500,000 502,573 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.00%, 7/1/37(2)
1,180,000 1,207,332 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.125%, 7/1/44(2)
700,000 700,950 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.00%, 7/1/45(2)
1,650,000 1,654,551 
California School Finance Authority Rev., (Kipp SoCal Public Schools Obligated Group), 5.00%, 7/1/49(2)
2,000,000 2,006,331 
California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/33(2)
500,000 501,903 
California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/43(2)
550,000 536,621 
California School Finance Authority Rev., (Larchmont Schools), 5.00%, 6/1/55(2)
1,000,000 939,754 
California School Finance Authority Rev., (Lighthouse Community Public Schools Obligated Group), 6.375%, 6/1/52(2)
1,225,000 1,247,932 
California School Finance Authority Rev., (Lighthouse Community Public Schools Obligated Group), 6.50%, 6/1/62(2)
2,125,000 2,167,120 
California School Finance Authority Rev., (Orange County Educational Arts Academy), 5.625%, 6/1/43(2)
560,000 552,826 
California School Finance Authority Rev., (Orange County Educational Arts Academy), 5.875%, 6/1/53(2)
700,000 689,393 
California School Finance Authority Rev., (Partnerships to Uplift Communities Series 2023 Obligated Group), 5.50%, 8/1/43(2)
550,000 551,181 
California School Finance Authority Rev., (Partnerships to Uplift Communities Series 2023 Obligated Group), 5.50%, 8/1/47(2)
505,000 497,731 
California School Finance Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/49(2)
5,250,000 4,605,999 
California School Finance Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/50(2)
2,740,000 2,391,770 
California School Finance Authority Rev., (Real Journey Academies Obligated Group), 5.00%, 6/1/59(2)
3,915,000 3,322,437 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/26(2)
300,000 301,796 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/31(2)
870,000 877,454 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/36(2)
1,000,000 1,002,984 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/37(2)
360,000 360,767 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/46(2)
2,100,000 2,001,866 
California School Finance Authority Rev., (Rocketship Education Obligated Group), 5.00%, 6/1/53(2)
2,265,000 2,109,998 
California School Finance Authority Rev., (Summit Public Schools Obligated Group), 5.00%, 6/1/27, Prerefunded at 100% of Par(2)(4)
525,000 556,695 
California School Finance Authority Rev., (Summit Public Schools Obligated Group), 5.00%, 6/1/27, Prerefunded at 100% of Par(2)(4)
995,000 1,055,070 
California School Finance Authority Rev., (TEACH, Inc. Obligated Group), 5.00%, 6/1/58(2)
3,600,000 3,162,880 
California School Finance Authority Rev., (Value Schools), 5.00%, 7/1/40(2)
545,000 545,496 


California School Finance Authority Rev., (Value Schools), 5.25%, 7/1/48(2)
700,000 694,315 
California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/34
1,400,000 1,451,268 
California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/39
1,640,000 1,657,095 
California State Financial Authority Rev., (Master's University & Seminary), 5.00%, 8/1/48
1,000,000 976,495 
California State Public Works Board Rev., (State of California Department of Corrections & Rehabilitation), 5.00%, 9/1/39
7,000,000 7,046,210 
California State University Rev., 5.25%, 11/1/53
1,000,000 1,120,665 
California Statewide Communities Development Authority Rev., (899 Charleston LLC), 5.25%, 11/1/44(2)
5,500,000 4,354,473 
California Statewide Communities Development Authority Rev., (Adventist Health System / West Obligated Group), 5.00%, 3/1/35
1,785,000 1,827,213 
California Statewide Communities Development Authority Rev., (California Baptist University), 3.50%, 11/1/27(2)
2,130,000 2,036,707 
California Statewide Communities Development Authority Rev., (California Baptist University), 5.00%, 11/1/32(2)
3,090,000 3,125,913 
California Statewide Communities Development Authority Rev., (Emanate Health Obligated Group), 4.00%, 4/1/45
6,000,000 5,631,503 
California Statewide Communities Development Authority Rev., (Enloe Medical Center Obligated Group), 5.25%, 8/15/52 (AGM)
500,000 539,941 
California Statewide Communities Development Authority Rev., (Front Porch Communities & Services Obligated Group), 4.00%, 4/1/39
1,405,000 1,340,311 
California Statewide Communities Development Authority Rev., (Front Porch Communities & Services Obligated Group), 4.00%, 4/1/40
2,615,000 2,472,125 
California Statewide Communities Development Authority Rev., (HumanGood California Obligated Group), 5.00%, 10/1/45
2,400,000 2,403,830 
California Statewide Communities Development Authority Rev., (Lancer Educational Housing LLC), 5.00%, 6/1/46(2)
3,500,000 3,220,675 
California Statewide Communities Development Authority Rev., (Lancer Educational Housing LLC), 5.00%, 6/1/51(2)
1,450,000 1,304,348 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/26(2)
2,000,000 2,047,169 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/29(2)
3,155,000 3,219,897 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/36(2)
1,000,000 1,011,712 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/41(2)
1,700,000 1,701,528 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.00%, 12/1/46(2)
9,900,000 9,721,480 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.50%, 12/1/54
4,605,000 4,615,154 
California Statewide Communities Development Authority Rev., (Loma Linda University Medical Center Obligated Group), 5.25%, 12/1/56(2)
14,750,000 14,322,431 
California Statewide Communities Development Authority Rev., (Methodist Hospital of Southern California Obligated Group), 5.00%, 1/1/43
7,500,000 7,628,153 
California Statewide Communities Development Authority Rev., (Redlands Community Hospital), 4.00%, 10/1/41
6,500,000 6,098,195 
California Statewide Communities Development Authority Special Assessment, (City of San Diego CA Assessment District No. 18-01), 5.00%, 9/2/39
1,300,000 1,351,419 
California Statewide Communities Development Authority Special Assessment, (City of San Diego CA Assessment District No. 18-01), 4.00%, 9/2/44
900,000 810,865 
California Statewide Communities Development Authority Special Assessment, (County of Contra Costa Assessment District No. 14-01), 5.00%, 9/2/35
1,920,000 1,957,646 
California Statewide Communities Development Authority Special Assessment, (County of Contra Costa Assessment District No. 14-01), 5.00%, 9/2/45
3,810,000 3,834,139 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Dev Authority Cmnty Facs Dist No. 2022-10), 5.50%, 9/1/53
1,700,000 1,758,379 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2007-01), 5.00%, 9/1/37
1,615,000 1,639,158 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2015-01), 5.00%, 9/1/47
1,650,000 1,672,200 
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 1,039,536 
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 2,135,283 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2016-02), 5.50%, 9/1/52
4,250,000 4,268,415 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2017-01), 5.00%, 9/1/48
7,330,000 7,462,739 


California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2018-), 4.00%, 9/1/50
1,200,000 1,001,065 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2018-03), 5.00%, 9/1/39
1,485,000 1,534,455 
California Statewide Communities Development Authority Special Tax, (California Statewide Communities Development Authority Cmnty Facs Dist No. 2018-03), 5.00%, 9/1/48
1,750,000 1,780,198 
California Statewide Communities Development Authority Special Tax, (Facilities District No. 2015-01), 5.50%, 9/1/42
1,000,000 1,036,996 
California Statewide Communities Development Authority Special Tax, (Facilities District No. 2015-01), 5.625%, 9/1/52
3,000,000 3,082,927 
Calimesa Special Tax, (Calimesa Community Facilities District No. 2018-1), 4.00%, 9/1/45
865,000 770,732 
Calimesa Special Tax, (Calimesa Community Facilities District No. 2018-1), 4.00%, 9/1/50
820,000 702,109 
Chabot-Las Positas Community College District GO, 5.25%, 8/1/48
4,350,000 4,856,006 
Chino Community Facilities District Special Tax, (Chino Community Facilities District No. 2019-1), 4.00%, 9/1/51
1,000,000 850,576 
Chino Community Facilities District Special Tax, (ChiNo. Community Facilities District No. 2003-3), 5.00%, 9/1/43
3,160,000 3,216,439 
Chino Community Facilities District Special Tax, (ChiNo. Community Facilities District No. 2003-3), 4.00%, 9/1/45
1,325,000 1,182,247 
Chino Community Facilities District Special Tax, (ChiNo. Community Facilities District No. 2003-3), 5.00%, 9/1/48
2,500,000 2,528,273 
Chino Community Facilities District Special Tax, (ChiNo. Community Facilities District No. 2003-3), 4.00%, 9/1/50
2,500,000 2,153,818 
Chino Community Facilities District Special Tax, (Community Facilities District No. 2003-3), 5.375%, 9/1/47
1,615,000 1,658,212 
Chino Community Facilities District Special Tax, (Community Facilities District No. 2003-3), 5.375%, 9/1/52
2,000,000 2,038,839 
Chula Vista Community Facilities District Special Tax, (Chula Vista Community Facilities District No. 06-1), 5.00%, 9/1/43
535,000 548,221 
Chula Vista Community Facilities District Special Tax, (Chula Vista Community Facilities District No. 06-1), 5.00%, 9/1/48
895,000 909,682 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, 4.00%, 9/1/35
300,000 295,468 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, 4.00%, 9/1/41
1,000,000 909,467 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, 4.00%, 9/1/42
600,000 538,887 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, 4.00%, 9/1/50
1,450,000 1,222,620 
City & County of San Francisco Community Facilities District No. 2016-1 Special Tax, 4.00%, 9/1/51
2,500,000 2,093,539 
City & County of San Francisco Special Tax District No. Special Tax, (City & County of San Francisco Dist No. 2020-1 Office Special Tax), 5.75%, 9/1/53(1)(2)
1,800,000 1,826,857 
City & County of San Francisco Special Tax District No. Special Tax, (City & County of San Francisco Dist No. 2020-1 Shoreline Tax Zone 1), 5.75%, 9/1/53(1)(2)
1,500,000 1,522,381 
City & County of San Francisco, Infrastructure & Revitalization Financing Dist No. 1 Tax Allocation, 5.00%, 9/1/52(2)
1,500,000 1,409,516 
City & County of San Francisco, Special Tax District No. 2020-1 Special Tax, 4.00%, 9/1/46(2)
2,475,000 2,045,530 
Corona-Norco Unified School District Special Tax, (Community Facilities District No. 05-1), 4.00%, 9/1/45
2,000,000 1,752,601 
Corona-Norco Unified School District Special Tax, (Community Facilities District No. 16-1), 5.00%, 9/1/43
2,430,000 2,475,475 
Corona-Norco Unified School District Special Tax, (Community Facilities District No. 16-1), 5.00%, 9/1/48
1,500,000 1,518,234 
CSCDA Community Improvement Authority Rev., (1818 Platinum Triangle-Anaheim), 3.25%, 4/1/57(2)
7,135,000 4,730,232 
CSCDA Community Improvement Authority Rev., (1818 Platinum Triangle-Anaheim), 4.00%, 4/1/57(2)
5,500,000 3,712,052 
CSCDA Community Improvement Authority Rev., (Altana Apartments), 4.00%, 10/1/56(2)
13,000,000 9,316,956 
CSCDA Community Improvement Authority Rev., (Escondido Portfolio), 4.00%, 12/1/59(2)
12,000,000 7,155,257 
CSCDA Community Improvement Authority Rev., (Oceanaire Apartments), 4.00%, 9/1/56(2)
6,235,000 4,337,834 
CSCDA Community Improvement Authority Rev., (Orange Portfolio), 4.00%, 3/1/57(2)
3,235,000 2,244,496 
CSCDA Community Improvement Authority Rev., (Parallel-Anaheim), 4.00%, 8/1/56(2)
4,910,000 3,576,368 
CSCDA Community Improvement Authority Rev., (Pasadena Portfolio), 2.65%, 12/1/46(2)
1,490,000 1,050,168 
CSCDA Community Improvement Authority Rev., (Renaissance at City Center), 5.00%, 7/1/51(2)
8,250,000 7,445,742 
CSCDA Community Improvement Authority Rev., (Westgate Apartments), 4.00%, 9/1/46(2)
1,925,000 1,552,726 
CSCDA Community Improvement Authority Rev., (Westgate Apartments), 4.00%, 2/1/57(2)
4,000,000 2,776,254 
CSCDA Community Improvement Authority Rev., (Westgate Apartments), 3.125%, 6/1/57(2)
5,385,000 3,345,129 
CSCDA Community Improvement Authority Rev., (Westgate Apartments), 4.00%, 6/1/57(2)
2,500,000 1,591,716 
Dixon Special Tax, (Dixon Community Facilities District No. 2013-1 Homestead), 5.00%, 9/1/45
4,780,000 4,810,238 
Dixon Special Tax, (Dixon Community Facilities District No. 2019-1 Homestead), 4.00%, 9/1/45
1,000,000 865,473 
Dixon Special Tax, (Dixon Community Facilities District No. 2019-1 Homestead), 5.00%, 9/1/48
1,400,000 1,335,089 
Dixon Special Tax, (Dixon Community Facilities District No. 2019-1 Homestead), 5.00%, 9/1/53
1,600,000 1,503,785 
Dublin Special Tax, (City of Dublin Community Facilities District No. 2015-1 Improvement Area No. 5), 5.375%, 9/1/51(1)
1,250,000 1,266,728 
Dublin Special Tax, (Community Facilities District No. 2015-1), 5.50%, 9/1/47
2,630,000 2,706,527 
Dublin Special Tax, (Community Facilities District No. 2015-1), 5.50%, 9/1/51
3,040,000 3,111,432 


Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/37
1,150,000 1,186,800 
Dublin Community Facilities District Improvement Area No. 1 Special Tax, 5.00%, 9/1/47
2,840,000 2,875,290 
Dublin Community Facilities District Improvement Area No. 1 Special Tax, (Dublin Community Facilities District No. 2015-1 Improvement Area No. 2), 5.00%, 9/1/44
2,200,000 2,257,673 
East Bay Municipal Utility District Wastewater System Rev., 5.00%, 6/1/42
600,000 670,451 
East Bay Municipal Utility District Wastewater System Rev., 5.00%, 6/1/45
1,200,000 1,329,867 
East Garrison Public Finance Authority Special Tax, 5.00%, 9/1/46
1,170,000 1,180,209 
El Dorado County Special Tax, (Community Facilities District No. 2014-1), 4.00%, 9/1/43
1,250,000 1,126,959 
El Dorado County Special Tax, (Community Facilities District No. 2014-1), 4.00%, 9/1/46
2,350,000 2,060,459 
El Dorado County Special Tax, (El County Dorado Community Facilities District No. 2018-1 Bass Lake Hills), 5.00%, 9/1/34
450,000 471,655 
El Dorado County Special Tax, (El County Dorado Community Facilities District No. 2018-1 Bass Lake Hills), 5.00%, 9/1/49
2,920,000 2,947,549 
El Rancho Unified School District GO, 5.75%, 8/1/48 (BAM)(1)
625,000 726,501 
Emeryville Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/34 (AGM)
1,000,000 1,014,553 
Escondido Special Tax, (Escondido Community Facilities District No. 2020-2), 5.00%, 9/1/52
2,700,000 2,697,446 
Fairfield Community Facilities District Special Tax, (District No. 2016-1), 4.00%, 9/1/41
1,145,000 1,043,906 
Fairfield Community Facilities District Special Tax, (District No. 2016-1), 4.00%, 9/1/45
2,000,000 1,755,030 
Fairfield Community Facilities District Special Tax, (Fairfield Community Facilities District No. 2019-1), 5.00%, 9/1/50(2)
3,250,000 3,245,960 
Folsom Ranch Financing Authority Special Tax, (Community Facilities District No. 20), 5.00%, 9/1/42
1,680,000 1,698,634 
Folsom Ranch Financing Authority Special Tax, (Community Facilities District No. 20), 5.125%, 9/1/47
1,250,000 1,258,889 
Folsom Ranch Financing Authority Special Tax, (Community Facilities District No. 20), 5.125%, 9/1/52
1,300,000 1,299,752 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/39
1,255,000 1,295,570 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/44
2,285,000 2,324,064 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 19), 5.00%, 9/1/47
4,325,000 4,366,908 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 20), 5.00%, 9/1/33
530,000 555,122 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 20), 5.00%, 9/1/38
845,000 867,014 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 20), 5.00%, 9/1/48
1,675,000 1,686,870 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 21), 4.00%, 9/1/46
800,000 684,752 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 23), 4.00%, 9/1/40
1,245,000 1,106,823 
Folsom Ranch Financing Authority Special Tax, (Folsom Community Facilities District No. 23), 4.00%, 9/1/50
2,285,000 1,843,781 
Fontana Special Tax, (Fontana Community Facilities District No. 31), 5.00%, 9/1/35
1,365,000 1,426,739 
Fontana Special Tax, (Fontana Community Facilities District No. 85), 4.00%, 9/1/45
750,000 673,878 
Fontana Special Tax, (Fontana Community Facilities District No. 85), 4.00%, 9/1/50
900,000 781,392 
Foothill-Eastern Transportation Corridor Agency Rev., 4.00%, 1/15/46
4,250,000 4,084,040 
Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/42(3)
6,000,000 2,558,236 
Foothill-Eastern Transportation Corridor Agency Rev., Capital Appreciation, VRN, 0.00%, 1/15/42
2,200,000 2,611,140 
Fort Bragg Unified School District GO, 5.50%, 8/1/52
1,450,000 1,550,511 
Fremont Community Facilities District No. 1 Special Tax, 5.00%, 9/1/40
3,000,000 3,027,414 
Fremont Community Facilities District No. 1 Special Tax, 5.00%, 9/1/45
2,000,000 2,012,652 
Fresno Unified School District GO, 4.00%, 8/1/52
2,500,000 2,432,880 
Fullerton Public Financing Authority Rev., (Marshall B Ketchum University), 4.00%, 2/1/51
2,500,000 2,310,344 
Golden State Tobacco Securitization Corp. Rev., 5.00%, 6/1/51
4,000,000 4,106,297 
Golden State Tobacco Securitization Corp. Rev., Capital Appreciation, 0.00%, 6/1/66(3)
44,750,000 4,669,667 
Hastings Campus Housing Finance Authority Rev., 5.00%, 7/1/61(2)
5,335,000 4,453,021 
Hastings Campus Housing Finance Authority Rev., Capital Appreciation, VRN, 0.00%, 7/1/61(2)
14,365,000 5,440,886 
Hemet Unified School District Financing Authority Special Tax, 5.00%, 9/1/39
2,100,000 2,117,294 
Hesperia Special Tax, (Community Facilities District No. 2005-1), 5.00%, 9/1/29
1,060,000 1,071,543 
Independent Cities Finance Authority Rev., (Compton Sales Tax Rev.), 4.00%, 6/1/46 (AGM)(2)
900,000 892,202 
Independent Cities Finance Authority Rev., (Compton Sales Tax Rev.), 4.00%, 6/1/51 (AGM)(2)
3,400,000 3,308,826 
Independent Cities Finance Authority Rev., (Millennium Housing LLC), 5.00%, 9/15/50
2,000,000 2,083,830 
Independent Cities Finance Authority Rev., (Palomar Estates East), 5.00%, 9/15/36
1,000,000 1,008,907 
Independent Cities Finance Authority Rev., (Palomar Estates West), 5.00%, 9/15/36
1,500,000 1,513,361 
Inland Valley Development Agency Tax Allocation, 5.25%, 9/1/37
1,110,000 1,113,616 
Irvine Special Assessment, (Irvine Reassessment District No. 15-2), 5.00%, 9/2/42
1,500,000 1,516,064 


Irvine Special Tax, (Irvine Community Facilities District No. 2013-3 Improvement Area No. 1), 5.25%, 9/1/53 (BAM)
2,000,000 2,200,232 
Irvine Special Tax, (Irvine Community Facilities District No. 2013-3), 5.00%, 9/1/48
2,500,000 2,548,475 
Irvine Facilities Financing Authority Rev., (Irvine), 4.25%, 5/1/53
5,000,000 5,009,936 
Jurupa Unified School District Special Tax, (Community Facilities District No. 11), 4.00%, 9/1/47
1,000,000 865,317 
Jurupa Unified School District Special Tax, (Community Facilities District No. 6), 5.00%, 9/1/38
1,000,000 1,029,936 
Jurupa Unified School District Special Tax, (Community Facilities District No. 6), 5.00%, 9/1/43
1,255,000 1,277,415 
Lake Elsinore Special Tax, (Lake Elsinore Community Facilities District No. 2016-2), 5.00%, 9/1/43
2,470,000 2,521,503 
Lake Elsinore Special Tax, (Lake Elsinore Community Facilities District No. 2016-2), 5.00%, 9/1/48
3,640,000 3,684,249 
Lake Elsinore Public Financing Authority Special Tax, 5.00%, 9/1/40
1,925,000 1,943,234 
Lake Elsinore Unified School District Community Facilities District Special Tax, (District No. 2013-1), 4.00%, 9/1/42
600,000 540,259 
Lake Elsinore Unified School District Community Facilities District Special Tax, (District No. 2013-1), 4.00%, 9/1/47
900,000 778,785 
Lammersville Joint Unified School District Special Tax, (Lammersville Joint Unified School District Community Facilities Dist No. 2014-1), 5.00%, 9/1/43
775,000 791,824 
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 1,363,413 
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 1,578,881 
Lee Lake Water District Financing Corp. Special Tax, (Community Facilities District No. 4 Terramor), 5.00%, 9/1/43
4,730,000 4,820,537 
Lee Lake Water District Financing Corp. Special Tax, (Community Facilities District No. 4 Terramor), 4.00%, 9/1/46
1,040,000 885,112 
Lee Lake Water District Financing Corp. Special Tax, (Community Facilities District No. 4 Terramor), 5.00%, 9/1/48
6,040,000 6,113,423 
Lee Lake Water District Financing Corp. Special Tax, (Community Facilities District No. 4 Terramor), 4.00%, 9/1/51
930,000 767,035 
Long Beach Bond Finance Authority Rev., 5.50%, 11/15/37 (GA: Merrill Lynch & Co.)
1,150,000 1,277,233 
Los Angeles Community Facilities District Special Tax, (District No. 11), 4.00%, 9/1/46
1,500,000 1,291,178 
Los Angeles County Community Facilities District No. 2021-01 Special Tax, 5.00%, 9/1/52
1,000,000 1,004,443 
Los Angeles County Public Works Financing Authority Rev., (Los Angeles County), 5.00%, 12/1/49
7,000,000 7,410,329 
Los Angeles Department of Airports Rev., 5.00%, 5/15/39
5,000,000 5,465,049 
Los Angeles Department of Airports Rev., 5.00%, 5/15/48
3,000,000 3,262,212 
Los Angeles Department of Water & Power Rev., (Los Angeles Department of Water & Power Power System Rev.), 5.00%, 7/1/51
5,165,000 5,549,067 
Los Angeles Department of Water & Power System Rev., 5.00%, 7/1/52
3,000,000 3,271,417 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/24
250,000 252,125 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/25
260,000 265,669 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/26
115,000 119,441 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/26
135,000 138,966 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/27
100,000 105,420 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/28
100,000 104,818 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/28
100,000 105,359 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/33
250,000 262,373 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/33
340,000 356,708 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/38
250,000 258,025 
Marina Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 9/1/38
400,000 412,841 
Menifee Union School District GO, Capital Appreciation, 0.00%, 8/1/44(3)
1,750,000 679,496 
Menifee Union School District GO, Capital Appreciation, 0.00%, 8/1/45(3)
1,200,000 438,044 
Menifee Union School District Special Tax, (Community Facilities District No. 2011-1), 5.00%, 9/1/43
1,000,000 1,032,486 
Menifee Union School District Special Tax, (Community Facilities District No. 2011-1), 5.00%, 9/1/44
2,245,000 2,281,119 
Menifee Union School District Special Tax, (Community Facilities District No. 2011-1), 5.00%, 9/1/48
2,000,000 2,047,347 
Menifee Union School District Special Tax, (Community Facilities District No. 2011-1), 5.25%, 9/1/52
2,000,000 2,031,255 
Middle Fork Project Finance Authority Rev., 5.00%, 4/1/34
1,175,000 1,252,292 
Middle Fork Project Finance Authority Rev., 5.00%, 4/1/35
1,030,000 1,094,245 
Middle Fork Project Finance Authority Rev., 5.00%, 4/1/36
2,350,000 2,481,939 
Moreno Valley Unified School District Community Facilities District Special Tax, (District No. 2018-1), 4.00%, 9/1/52
3,985,000 3,287,426 
M-S-R Energy Authority Rev., 7.00%, 11/1/34 (GA: Citigroup Global Markets)
1,700,000 2,118,989 
M-S-R Energy Authority Rev., 6.50%, 11/1/39 (GA: Citigroup Global Markets)
4,000,000 4,919,169 
Murrieta Community Facilities District Special Tax, (District No. 2005-5 Golden City), 5.00%, 9/1/42
655,000 666,980 
Murrieta Community Facilities District Special Tax, (District No. 2005-5 Golden City), 5.00%, 9/1/46
825,000 835,192 


North Lake Tahoe Public Financing Authority Rev., (Placer County), 5.50%, 12/1/47
4,425,000 4,924,956 
Northern Inyo County Local Hospital District GO, 0.00%, 11/1/34 (AGC)(3)
1,325,000 849,777 
Northern Inyo County Local Hospital District GO, 0.00%, 11/1/36 (AGC)(3)
2,885,000 1,660,785 
Norwalk-La Mirada Unified School District GO, 5.00%, 8/1/51
1,750,000 1,877,168 
Ojai Unified School District GO, 5.50%, 8/1/53 (AGM)
1,750,000 1,937,181 
Ontario Special Tax, (City of Ontario Community Facilities District No. 56), 5.50%, 9/1/48(1)
1,250,000 1,295,724 
Ontario Special Tax, (City of Ontario Community Facilities District No. 56), 5.75%, 9/1/54(1)
2,210,000 2,320,972 
Ontario Special Tax, (Ontario Community Facilities District No. 57), 4.25%, 9/1/37
415,000 401,634 
Ontario Special Tax, (Ontario Community Facilities District No. 57), 4.625%, 9/1/42
650,000 633,504 
Ontario Special Tax, (Ontario Community Facilities District No. 57), 4.75%, 9/1/47
840,000 809,544 
Ontario Special Tax, (Ontario Community Facilities District No. 57), 4.75%, 9/1/52
825,000 775,045 
Ontario Community Facilities District No. 24 Special Tax, 5.00%, 9/1/26
390,000 403,512 
Ontario Community Facilities District No. 28 Special Tax, 5.00%, 9/1/42
1,000,000 1,018,635 
Ontario Community Facilities District No. 28 Special Tax, 5.00%, 9/1/47
500,000 506,213 
Ontario Community Facilities District No. 30 Special Tax, 4.00%, 9/1/42
1,395,000 1,257,702 
Ontario Community Facilities District No. 30 Special Tax, 4.00%, 9/1/48
2,000,000 1,723,040 
Ontario Community Facilities District No. 31 Special Tax, 5.00%, 9/1/42
1,050,000 1,066,672 
Ontario Community Facilities District No. 34 Special Tax, 4.00%, 9/1/48
1,000,000 858,973 
Ontario Community Facilities District No. 43 Special Tax, 4.00%, 9/1/50
1,000,000 839,327 
Orange County Community Facilities District Special Tax, (Community Facilities District No. 2017-1), 5.00%, 8/15/42
2,500,000 2,554,162 
Orange County Community Facilities District Special Tax, (Community Facilities District No. 2021-1), 5.00%, 8/15/52
1,000,000 1,002,323 
Orange County Community Facilities District Special Tax, (County of Orange Community Facilities District No. 2023-1), 5.50%, 8/15/53(1)
2,200,000 2,248,167 
Orange County Community Facilities District Special Tax, (County of Orange Community Facilities District No. 2023-1), 5.75%, 8/15/53(1)
1,085,000 1,112,580 
Orange County Community Facilities District Special Tax, (Orange County Community Facilities District No. 2015-1), 5.25%, 8/15/45
3,905,000 3,946,123 
Orange County Community Facilities District Special Tax, (Orange County Community Facilities District No. 2016-1), 5.00%, 8/15/41
6,545,000 6,624,994 
Orange County Community Facilities District Special Tax, (Orange County Community Facilities District No. 2016-1), 5.00%, 8/15/46
3,000,000 3,018,230 
Orange County Community Facilities District Special Tax, (Orange County Community Facilities District No. 2021-1), 5.00%, 8/15/47
3,300,000 3,322,355 
Oroville Rev., 5.25%, 4/1/49
3,000,000 1,773,506 
Oroville Rev., (Oroville Hospital), 5.25%, 4/1/39
2,350,000 1,405,580 
Oxnard School District GO, 4.25%, 8/1/53 (BAM)
3,000,000 3,013,057 
Palm Desert Special Tax, (Palm Desert Community Facilities District No. 2021-1), 3.00%, 9/1/31
410,000 376,522 
Palm Desert Special Tax, (Palm Desert Community Facilities District No. 2021-1), 4.00%, 9/1/41
900,000 809,518 
Palm Desert Special Tax, (Palm Desert Community Facilities District No. 2021-1), 4.00%, 9/1/51
1,300,000 1,086,950 
Palmdale Water District Public Financing Authority Rev., (Palmdale Water District), 5.00%, 10/1/53 (AGM)
1,700,000 1,841,760 
Palomar Health COP, (Palomar Health Obligated Group), 4.00%, 11/1/38
1,445,000 1,313,663 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/27
2,005,000 2,053,914 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/30
3,000,000 3,062,818 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/31
2,125,000 2,167,473 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/36
8,465,000 8,582,288 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/39
8,250,000 8,288,104 
Palomar Health Rev., (Palomar Health Obligated Group), 5.00%, 11/1/42
10,000,000 10,058,806 
Peninsula Corridor Joint Powers Board Rev., 5.00%, 6/1/51
10,000,000 10,712,196 
Perris Joint Powers Authority Special Tax, 5.00%, 9/1/34
1,555,000 1,621,773 
Perris Union High School District Special Tax, (Community Facilities District No. 92-1), 5.00%, 9/1/41
4,750,000 4,779,697 
Pleasant Valley School District / Ventura County GO, 5.85%, 8/1/31 (NATL)
4,835,000 5,326,790 
Rancho Cordova Special Tax, (Community Facilities District No. 2021-1), 5.25%, 9/1/52
2,000,000 2,008,775 
Rancho Cordova Special Tax, (Rancho Cordova Arista Del Sol Cmnty Facs Dist No. 2022-1 Impt Area 1), 5.375%, 9/1/53
1,300,000 1,323,177 
Rancho Cordova Special Tax, (Sunridge Anatolia Community Facilities Dist No. 2003-1), 4.00%, 9/1/37
3,000,000 2,877,804 
Rancho Cordova Special Tax, (Sunridge North Douglas Community Facs Dist No. 2005-1), 5.00%, 9/1/40
1,195,000 1,205,521 


Rancho Cordova Special Tax, (Sunridge North Douglas Community Facs Dist No. 2005-1), 4.00%, 9/1/45
1,025,000 901,949 
Rancho Cordova Special Tax, (Sunridge North Douglas Community Facs Dist No. 2005-1), 5.00%, 9/1/45
1,250,000 1,257,700 
Redwood City Redevelopment Agency Successor Agency Tax Allocation, Capital Appreciation, 0.00%, 7/15/28 (Ambac)(3)
3,405,000 2,901,763 
Regents of the University of California Medical Center Pooled Rev., VRDN, 2.55%, 12/1/23
450,000 450,000 
Regents of the University of California Medical Center Pooled Rev., VRDN, 2.55%, 12/1/23
900,000 900,000 
Regents of the University of California Medical Center Pooled Rev., VRDN, 2.55%, 12/1/23
1,600,000 1,600,000 
Regents of the University of California Medical Center Pooled Rev., VRDN, 2.70%, 12/1/23
500,000 500,000 
Rialto Special Tax, (Rialto Community Facilities District No. 2020-1), 5.50%, 9/1/53
1,500,000 1,560,883 
Riverside County Community Facilities Districts Special Tax, (District No. 04-2), 5.00%, 9/1/30
1,035,000 1,038,398 
Riverside County Community Facilities Districts Special Tax, (District No. 04-2), 5.00%, 9/1/35
2,520,000 2,527,292 
Riverside County Community Facilities Districts Special Tax, (District No. 05-8), 5.00%, 9/1/48
2,500,000 2,530,390 
Riverside County Community Facilities Districts Special Tax, (District No. 07-2), 5.00%, 9/1/40
2,250,000 2,269,058 
Riverside County Community Facilities Districts Special Tax, (District No. 07-2), 5.00%, 9/1/42
1,110,000 1,128,771 
Riverside County Community Facilities Districts Special Tax, (District No. 07-2), 5.00%, 9/1/44
2,735,000 2,752,198 
Riverside County Community Facilities Districts Special Tax, (District No. 07-2), 5.00%, 9/1/45
540,000 547,059 
Riverside County Transportation Commission Rev., 4.00%, 6/1/46
1,475,000 1,382,367 
Riverside County Transportation Commission Rev., 4.00%, 6/1/47
2,500,000 2,281,789 
Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/41(3)
2,000,000 864,809 
Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/42(3)
3,320,000 1,348,581 
Riverside County Transportation Commission Rev., Capital Appreciation, 0.00%, 6/1/43(3)
5,000,000 1,918,575 
Riverside Unified School District Special Tax, 4.00%, 9/1/50
875,000 745,751 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 32), 4.00%, 9/1/43
1,600,000 1,436,827 
Riverside Unified School District Special Tax, (Riverside Unified School District Community Facilities District No. 32), 4.00%, 9/1/48
1,850,000 1,598,544 
Riverside Water Rev., 5.00%, 10/1/47
1,000,000 1,097,372 
Riverside Water Rev., 5.00%, 10/1/52
1,000,000 1,088,943 
Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2004-1 Heritage Lake), 5.00%, 9/1/38
2,900,000 2,934,791 
Romoland School District Special Tax, (Romoland School District Community Facilities District No. 2004-1 Heritage Lake), 5.00%, 9/1/43
3,000,000 3,065,124 
Romoland School District Special Tax, (Romoland School District-Community Facilities District No. 2017-1 Impt Area 2), 5.00%, 9/1/46
370,000 375,548 
Romoland School District Special Tax, (Romoland School District-Community Facilities District No. 2017-1 Impt Area 2), 5.00%, 9/1/54
1,525,000 1,532,095 
Roseville Special Tax, (Ranch Community Facilities District No. 5), 5.00%, 9/1/32(2)
1,265,000 1,315,522 
Roseville Special Tax, (Ranch Community Facilities District No. 5), 5.00%, 9/1/47(2)
6,500,000 6,571,869 
Roseville Special Tax, (Roseville Creekview Community Facilities District No. 1), 5.00%, 9/1/43
475,000 471,135 
Roseville Special Tax, (Roseville Creekview Community Facilities District No. 1), 5.00%, 9/1/50
1,995,000 2,003,008 
Roseville Special Tax, (Roseville Creekview Community Facilities District No. 1), 5.25%, 9/1/53
1,500,000 1,484,659 
Roseville Special Tax, (Roseville Ranch at Sierra Vista Community Facilities District No. 1), 4.00%, 9/1/45
450,000 391,618 
Roseville Special Tax, (Roseville Ranch at Sierra Vista Community Facilities District No. 1), 4.00%, 9/1/50
1,000,000 835,493 
Roseville Special Tax, (Roseville Ranch at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/53
1,000,000 991,010 
Roseville Special Tax, (Roseville SVSP Westpark-Federico Community Facilities District No. 1), 4.00%, 9/1/46
640,000 557,176 
Roseville Special Tax, (Roseville SVSP Westpark-Federico Community Facilities District No. 1), 5.00%, 9/1/49
1,275,000 1,286,071 
Roseville Special Tax, (Roseville SVSP Westpark-Federico Community Facilities District No. 1), 4.00%, 9/1/51
1,290,000 1,087,012 
Roseville Special Tax, (Roseville Villages at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/44
3,230,000 3,285,219 
Roseville Special Tax, (Villages at Sierra Vista Community Facilities District No. 1), 5.00%, 9/1/39
1,390,000 1,420,760 
Roseville Special Tax, (Villages at Sierra Vista Community Facilities District No. 1), 4.00%, 9/1/45
495,000 421,399 
Roseville Special Tax, (Villages at Sierra Vista Community Facilities District No. 1), 4.00%, 9/1/50
650,000 539,773 
Roseville Special Tax, (Westbrook Community Facilities District No. 1), 5.00%, 9/1/43
2,840,000 2,873,822 
Roseville Special Tax, (Westbrook Community Facilities District No. 1), 5.00%, 9/1/44
1,650,000 1,653,020 
Roseville Special Tax, (Westbrook Community Facilities District No. 1), 5.00%, 9/1/44
2,950,000 3,028,837 
Roseville Natural Gas Financing Authority Rev., 5.00%, 2/15/27 (GA: Merrill Lynch & Co.)
5,000,000 5,136,158 
Sacramento Special Tax, (Community Facilities District No. 2006-2), 5.00%, 9/1/41
1,900,000 1,929,946 


Sacramento Special Tax, (Community Facilities District No. 2007-1), 5.00%, 9/1/32(2)
300,000 311,632 
Sacramento Special Tax, (Community Facilities District No. 2007-1), 5.00%, 9/1/47(2)
1,900,000 1,922,308 
Sacramento Special Tax, (Sacramento Greenbriar Community Facilities District No. 2018-03), 4.00%, 9/1/46
1,200,000 1,035,866 
Sacramento Special Tax, (Sacramento Greenbriar Community Facilities District No. 2018-03), 4.00%, 9/1/50
1,500,000 1,260,916 
Sacramento County Special Tax, (Community Facilities District No. 2004-1), 5.00%, 9/1/30
1,170,000 1,201,474 
Sacramento County Special Tax, (Community Facilities District No. 2004-1), 5.00%, 9/1/31
1,355,000 1,390,759 
Sacramento County Special Tax, (Community Facilities District No. 2004-1), 5.00%, 9/1/35
2,335,000 2,392,942 
Sacramento County Special Tax, (Community Facilities District No. 2004-1), 5.00%, 9/1/40
3,000,000 3,045,262 
Sacramento County Special Tax, (Community Facilities District No. 2005-2), 5.00%, 9/1/40
2,325,000 2,358,415 
Sacramento County Special Tax, (Community Facilities District No. 2005-2), 5.00%, 9/1/45
4,645,000 4,686,837 
Sacramento County Special Tax, (Community Facilities District No. 2014-2), 5.00%, 9/1/46
4,200,000 4,233,423 
Sacramento Municipal Utility District Rev., 5.00%, 8/15/53
4,000,000 4,369,703 
Salinas Union High School District GO, 4.00%, 8/1/47
5,000,000 5,021,675 
San Bernardino County Special Tax, (County of San BernardiNo. CA Community Facilities District No.. 2006-1), 4.00%, 9/1/42
700,000 630,302 
San Bernardino County Special Tax, (County of San BernardiNo. CA Community Facilities District No.. 2006-1), 4.00%, 9/1/48
1,000,000 858,973 
San Bernardino County Special Tax, (County of San BernardiNo. CA Community Facilities District No.. 2006-1), 5.00%, 9/1/48
1,200,000 1,219,685 
San Clemente Special Tax, (Community Facilities District No. 2006-1), 5.00%, 9/1/46
7,530,000 7,581,274 
San Diego County Special Tax, (San County Diego Community Facilities District No. 2008-01), 4.00%, 9/1/43
1,255,000 1,131,467 
San Diego County Special Tax, (San County Diego Community Facilities District No. 2008-01), 4.00%, 9/1/48
1,250,000 1,081,701 
San Diego County Regional Airport Authority Rev., 5.00%, 7/1/36
3,750,000 4,121,375 
San Diego County Regional Airport Authority Rev., 5.00%, 7/1/39
2,000,000 2,153,194 
San Diego County Regional Airport Authority Rev., 5.00%, 7/1/44
3,425,000 3,438,826 
San Diego County Regional Airport Authority Rev., 5.00%, 7/1/49
8,500,000 8,936,546 
San Diego Unified School District GO, 4.00%, 7/1/53
1,750,000 1,719,217 
San Francisco Bay Area Rapid Transit District GO, 5.25%, 8/1/47
4,750,000 5,291,358 
San Francisco City & County Airport Comm-San Francisco International Airport Rev., 5.00%, 5/1/43
6,750,000 7,410,662 
San Francisco City & County Redevelopment Agency Successor Agency Special Tax, (Facilities District No. 6), Capital Appreciation, 0.00%, 8/1/43(3)
5,500,000 1,754,524 
San Francisco City & County Redevelopment Agency Successor Agency Tax Allocation, 5.00%, 8/1/33
780,000 788,442 
San Francisco City & County Redevelopment Successor Agency Tax Allocation, 5.25%, 8/1/53 (AGM)
1,000,000 1,090,557 
San Francisco Public Utilities Commission Water Rev., 5.25%, 11/1/52
7,000,000 7,840,064 
San Joaquin Hills Transportation Corridor Agency Rev., 5.25%, 1/15/44
6,000,000 6,054,172 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/25 (NATL)(3)
3,090,000 2,967,498 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/29 (NATL)(3)
165,000 138,060 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/31 (NATL)(3)
16,000,000 12,293,429 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/32 (NATL)(3)
290,000 213,274 
San Joaquin Hills Transportation Corridor Agency Rev., Capital Appreciation, 0.00%, 1/15/36 (NATL)(3)
1,335,000 822,936 
San Luis Obispo Community Facilities District No. 2019-1 Special Tax, 4.00%, 9/1/46
550,000 476,117 
San Luis Obispo Community Facilities District No. 2019-1 Special Tax, 4.00%, 9/1/51
700,000 585,281 
San Mateo Foster City School District GO, 4.00%, 8/1/51
4,000,000 4,024,031 
Santa Clara Valley Water District Safe Clean Water Rev., 5.00%, 8/1/47
1,500,000 1,657,327 
Saugus/Hart School Facilities Financing Authority Special Tax, (Community Facilities District No. 2006-1), 5.00%, 9/1/46
2,495,000 2,509,278 
Sierra Joint Community College District GO, 4.00%, 8/1/53
4,000,000 3,962,666 
Silicon Valley Tobacco Securitization Authority Rev., Capital Appreciation, 0.00%, 6/1/36(3)
32,000,000 15,704,605 
Silicon Valley Tobacco Securitization Authority Rev., Capital Appreciation, 0.00%, 6/1/41(3)
11,465,000 4,125,235 
Simi Valley Unified School District GO, 5.25%, 8/1/51
5,000,000 5,454,344 
South San Francisco Special Tax, (Community Facilities District No. 2021-01), 5.00%, 9/1/52
2,200,000 2,217,547 
South San Francisco Special Tax, (South San Francisco Community Facilities District No. 2021-01), 4.00%, 9/1/44
1,000,000 888,848 
South Tahoe Joint Powers Financing Authority Rev., (South Lake Tahoe), 5.25%, 10/1/53
3,000,000 3,307,597 
Southern California Public Power Authority Rev., 5.00%, 11/1/29 (GA: Goldman Sachs Group, Inc.)
2,000,000 2,091,467 
Southern California Public Power Authority Rev., 5.00%, 11/1/33 (GA: Goldman Sachs Group, Inc.)
3,755,000 3,980,077 
Southern California Public Power Authority Rev., 5.00%, 7/1/48 (Los Angeles Department of Water & Power Power System Rev.)
3,750,000 4,152,951 


Southern Mono Health Care District GO, Capital Appreciation, 0.00%, 8/1/26 (NATL)(3)
1,800,000 1,639,465 
State Center Community College District GO, 5.00%, 8/1/47
9,000,000 9,845,763 
State of California GO, 5.25%, 10/1/45
1,070,000 1,214,776 
State of California GO, 5.00%, 10/1/47
8,375,000 8,593,861 
State of California GO, 5.25%, 9/1/53
5,000,000 5,612,126 
Stockton Community Facilities District Special Tax, (Stockton Community Facilities District No. 2018-2), 4.00%, 9/1/45
1,115,000 946,199 
Stockton Community Facilities District Special Tax, (Stockton Community Facilities District No. 2018-2), 4.00%, 9/1/50
1,500,000 1,238,996 
Stockton Public Financing Authority Rev., Special Tax, (Stockton Arch Road East Community Facilities District No. 99-02), 5.00%, 9/1/37
2,500,000 2,593,994 
Stockton Public Financing Authority Rev., Special Tax, (Stockton Arch Road East Community Facilities District No. 99-02), 5.00%, 9/1/43
3,000,000 3,054,861 
Sulphur Springs Union School District Special Tax, (Sulphur Springs School District Community Facilities District No. 2006-1), 5.00%, 9/1/47
3,640,000 3,682,738 
Sunnyvale Special Tax, 7.75%, 8/1/32
5,675,000 5,691,800 
Tejon Ranch Public Facilities Finance Authority Special Tax, (Tejon Ranch Public Facilities Finance Authority Community Facs Dist No. 2008-1), 5.00%, 9/1/45
6,000,000 6,046,949 
Tejon Ranch Public Facilities Finance Authority Special Tax, (Tejon Ranch Public Facilities Finance Authority Community Facs Dist No. 2008-1), 4.00%, 9/1/50
4,750,000 4,054,594 
Temecula Public Financing Authority Special Tax, (Temecula Public Financing
Authority-Community Facilities District No. 16-01), Capital Appreciation, 0.00%, 9/1/53(3)
8,730,000 1,482,722 
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 1,018,287 
Tobacco Securitization Authority of Northern California Rev., (San Diego County Tobacco Asset Securitization Corp.), Capital Appreciation, 0.00%, 6/1/60(3)
5,000,000 749,183 
Tobacco Securitization Authority of Southern California Rev., (San Diego County Tobacco Asset Securitization Corp.), 5.00%, 6/1/48
9,485,000 9,632,054 
Tobacco Securitization Authority of Southern California Rev., (San Diego County Tobacco Asset Securitization Corp.), Capital Appreciation, 0.00%, 6/1/46(3)
25,000,000 3,767,052 
Tracy Community Facilities District Special Tax, (City of Tracy Community Facilities District No. 2016-01 Improvement Area No. 2), 5.75%, 9/1/48
1,900,000 1,983,446 
Tracy Community Facilities District Special Tax, (City of Tracy Community Facilities District No. 2016-01 Improvement Area No. 2), 5.875%, 9/1/53
2,900,000 3,040,353 
Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/39
2,280,000 2,328,403 
Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/43
2,750,000 2,779,258 
Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/44
3,385,000 3,419,474 
Tracy Community Facilities District Special Tax, (Tracy Community Facilities District No. 2016-01), 5.00%, 9/1/48
2,500,000 2,508,259 
Transbay Joint Powers Authority Tax Allocation, (Transbay Redevelopment Project Tax Increment Rev.), 5.00%, 10/1/45
6,390,000 6,478,231 
University of California Rev., 5.00%, 5/15/42
2,500,000 2,731,027 
Upland COP, (San Antonio Regional Hospital Obligated Group), 4.00%, 1/1/42
3,000,000 2,664,996 
Upland COP, (San Antonio Regional Hospital Obligated Group), 5.00%, 1/1/47
2,500,000 2,531,833 
Vista Unified School District GO, 5.25%, 8/1/48 (BAM)
4,410,000 4,824,334 
Washington Township Health Care District GO, 5.50%, 8/1/53
1,115,000 1,244,608 
Washington Township Health Care District Rev., 5.00%, 7/1/26
400,000 406,546 
Washington Township Health Care District Rev., 3.25%, 7/1/27
1,000,000 962,887 
Washington Township Health Care District Rev., 3.50%, 7/1/28
750,000 734,858 
Washington Township Health Care District Rev., 3.75%, 7/1/29
1,000,000 985,362 
Washington Township Health Care District Rev., 5.75%, 7/1/48
850,000 900,043 
Washington Township Health Care District Rev., 5.75%, 7/1/53
1,000,000 1,048,848 
Whittier Rev., (Presbyterian Intercommunity Hospital Obligated Group), 5.00%, 6/1/44
3,500,000 3,510,315 
William S Hart Union High School District Special Tax, (Community Facilities Dist No. 2015-1), 5.00%, 9/1/42
1,350,000 1,370,203 
William S Hart Union High School District Special Tax, (Community Facilities Dist No. 2015-1), 5.00%, 9/1/47
2,350,000 2,374,852 
Woodland Special Tax, (Community Facilities Dist No. 2004-1), 4.00%, 9/1/41
2,540,000 2,347,380 
Woodland Special Tax, (Community Facilities Dist No. 2004-1), 4.00%, 9/1/45
2,540,000 2,288,581 
Yorba Linda Water District Public Financing Corp. Rev., 4.00%, 10/1/52
3,750,000 3,754,431 
1,292,857,429 


Guam — 0.7%
Guam Government Waterworks Authority Rev., 5.00%, 7/1/36
1,755,000 1,806,143 
Guam Government Waterworks Authority Rev., 5.00%, 7/1/37
1,500,000 1,535,743 
Guam Government Waterworks Authority Rev., 5.00%, 1/1/46
3,000,000 3,018,987 
Guam Government Waterworks Authority Rev., 5.00%, 1/1/50
1,750,000 1,760,845 
Port Authority of Guam Government Rev., 5.00%, 7/1/48
1,500,000 1,514,022 
9,635,740 
Puerto Rico — 0.5%
Puerto Rico GO, 5.375%, 7/1/25
3,906,218 3,975,328 
Puerto Rico GO, 5.625%, 7/1/29
201,036 212,781 
Puerto Rico GO, 5.75%, 7/1/31
195,264 210,388 
Puerto Rico GO, 4.00%, 7/1/33
185,162 173,215 
Puerto Rico GO, 4.00%, 7/1/35
166,436 152,625 
Puerto Rico GO, 4.00%, 7/1/37
142,845 127,971 
Puerto Rico GO, 4.00%, 7/1/41
194,215 168,178 
Puerto Rico GO, 4.00%, 7/1/46
201,981 168,342 
Puerto Rico GO, Capital Appreciation, 0.00%, 7/1/24(3)
30,190 29,469 
Puerto Rico GO, Capital Appreciation, 0.00%, 7/1/33(3)
238,285 145,367 
Puerto Rico GO, VRN, 0.00%, 11/1/43
820,743 427,812 
5,791,476 
TOTAL INVESTMENT SECURITIES — 100.0%
(Cost $1,372,907,247)
1,308,284,645 
OTHER ASSETS AND LIABILITIES
315,421 
TOTAL NET ASSETS — 100.0%
$1,308,600,066 

NOTES TO SCHEDULE OF INVESTMENTS
AGC–Assured Guaranty Corporation
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
MUNIPSA–SIFMA Municipal Swap Index
NATL–National Public Finance Guarantee Corporation
VRDN–Variable Rate Demand Note. The instrument may be payable upon demand and adjusts periodically based upon the terms set forth in the security's offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The date of the demand feature is disclosed.
VRN–Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown.
(1)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.
(2)Security was purchased pursuant to Rule 144A or Section 4(2) under the Securities Act of 1933 and may be sold in transactions exempt from registration, normally to qualified institutional investors. The aggregate value of these securities at the period end was $291,594,419, which represented 22.3% of total net assets. 
(3)Security is a zero-coupon bond. Zero-coupon securities may be issued at a substantial discount from their value at maturity.
(4)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 (NAV) per share at the close of regular trading (usually 4 p.m. Eastern time) on the New York Stock Exchange (NYSE) on each day the NYSE is open. The value of investments of the fund is determined by American Century Investment Management, Inc. (ACIM) (the investment advisor), as the valuation designee, pursuant to its valuation policies and procedures. The Board of Trustees oversees the valuation designee and reviews its valuation policies and procedures at least annually.

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

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

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

The valuation designee monitors for significant events occurring after the close of an investment’s primary exchange but before the fund’s NAV per share is determined. Significant events may include, but are not limited to: corporate announcements and transactions; regulatory news, governmental action and political unrest that could impact a specific investment or an investment sector; or armed conflicts, natural disasters and similar events that could affect investments in a specific country or region.

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.