| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Long-Term Investments 101.4% | |||||
| Municipal Bonds | |||||
| ABAG Fin. Auth. for Nonprofit Corp. Rev., Sharp Healthcare, Series A, Rfdg. | 5.000 % | 08/01/43 | 2,000 | $2,140,969 | |
| Alameda Corridor Trans. Auth. Rev., | |||||
| Second Sub. Lien, Series B, Rfdg. | 5.000 | 10/01/34 | 2,150 | 2,521,043 | |
| Second Sub. Lien, Series B, Rfdg. | 5.000 | 10/01/37 | 700 | 813,518 | |
| Sr. Lien, Series A, Rfdg. | 5.000 | 10/01/22 | 375 | 390,003 | |
| Sr. Lien, Series A, Rfdg., AGM | 5.000 | 10/01/28 | 1,000 | 1,084,402 | |
| Anaheim Calif. Pub. Fing. Auth. Rev., Series A, Rfdg. | 5.000 | 05/01/39 | 1,000 | 1,080,008 | |
| Bay Area Toll Auth. Rev., | |||||
| Rfdg. | 5.000 | 04/01/27 | 1,655 | 2,014,249 | |
| Rfdg. | 5.000 | 04/01/28 | 1,365 | 1,701,059 | |
| Series A, Rfdg. (Mandatory put date 04/01/28) | 2.000(cc) | 04/01/56 | 750 | 793,329 | |
| Series F-1 (Pre-refunded date 04/01/27)(ee) | 5.000 | 04/01/56 | 1,000 | 1,225,456 | |
| Series F-1, Rfdg. (Pre-refunded date 04/01/24)(ee) | 5.000 | 04/01/54 | 1,000 | 1,106,468 | |
| California Cmnty. Choice Fing. Auth. Rev., | |||||
| Series B-1, Green Bond (Mandatory put date 08/01/31) | 4.000(cc) | 02/01/52 | 2,000 | 2,425,541 | |
| Series B-2, Green Bond (Mandatory put date 08/01/31) | 0.500(cc) | 02/01/52 | 1,120 | 1,113,981 | |
| California Cnty. Tob. Secur. Agcy. Rev., | |||||
| Conv. Bonds, Asset Bkd., Series B, Rfdg. | 5.100 | 06/01/28 | 505 | 505,136 | |
| Sonoma Cnty. Secur. Corp., Series A, Rfdg. | 5.000 | 06/01/28 | 500 | 620,610 | |
| Sr. Series A, Rfdg. | 5.000 | 06/01/27 | 525 | 638,275 | |
| Sr. Series A, Rfdg. | 5.000 | 06/01/28 | 1,730 | 2,152,667 | |
| Sr. Series A, Rfdg. | 5.000 | 06/01/30 | 930 | 1,205,905 | |
| California Edl. Facs. Auth. Rev., Pepperdine Univ., Rfdg. | 5.000 | 10/01/49 | 2,000 | 2,323,882 | |
| California Hlth. Facs. Fing. Auth. Rev., | |||||
| Cedars Sinai Hlth. Sys., Series A, Rfdg.(hh) | 4.000 | 08/15/48 | 1,000 | 1,185,970 | |
| Cedars Sinai Med. Ctr., Rfdg. | 5.000 | 11/15/25 | 1,155 | 1,355,911 | |
| Cedars Sinai Med. Ctr., Rfdg. | 5.000 | 11/15/33 | 1,000 | 1,165,089 | |
| Cedars Sinai Med. Ctr., Series A | 5.000 | 08/15/25 | 535 | 622,827 | |
| Commonspirit Hlth., Series A, Rfdg. | 5.000 | 04/01/32 | 500 | 642,399 | |
| Kaiser Permanente, Series C (Mandatory put date 11/01/29) | 5.000(cc) | 06/01/41 | 1,830 | 2,374,928 | |
| Kaiser Permanente, Sub. Series A-2, Rfdg. | 4.000 | 11/01/44 | 3,045 | 3,492,258 | |
| Lucile Salter Packard Children’s Hosp. at Stanford, Series A, Rfdg.(hh) | 5.000 | 05/15/26 | 1,000 | 1,151,580 | |
| Providence Hlth. Svcs., Series A, Rfdg. | 5.000 | 10/01/24 | 1,000 | 1,128,458 | |
| Providence Hlth. Svcs., Series A, Rfdg. | 5.000 | 10/01/27 | 330 | 371,796 | |
| Providence St. Joseph, Hlth. Proj., Series C, Rfdg. (Mandatory put date 10/01/25) | 5.000(cc) | 10/01/39 | 2,355 | 2,750,872 | |
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Municipal Bonds (Continued) | |||||
| California Hlth. Facs. Fing. Auth. Rev., (cont’d.) | |||||
| St. Joseph Hlth. Sys., Series C, Rmkt., Rfdg. (Mandatory put date 10/18/22) | 5.000 %(cc) | 07/01/34 | 515 | $536,334 | |
| Stanford Healthcare, Series A | 5.000 | 08/15/54 | 1,000 | 1,140,378 | |
| Stanford Healthcare, Series A, Rfdg. (Mandatory put date 08/15/25) | 3.000(cc) | 08/15/54 | 1,000 | 1,090,308 | |
| California Infrast. & Econ. Dev. Bank Rev., | |||||
| J. Paul Getty Trust, Series B-1, Rfdg. (Mandatory put date 01/01/24) | 0.390(cc) | 10/01/47 | 1,000 | 1,000,948 | |
| Sustainability Bond CA ACAD Sciences, Series B, Rmkt., Rfdg. (Mandatory put date 08/01/24) | 0.400(cc) | 08/01/47 | 2,500 | 2,515,218 | |
| California Muni. Fin. Auth. Rev., | |||||
| American Heritage Ed., Series A, Rfdg. | 4.000 | 06/01/26 | 630 | 667,911 | |
| CHF-Davis I, LLC, West Village Student Hsg. Proj. | 5.000 | 05/15/23 | 495 | 525,930 | |
| CHF-Davis I, LLC, West Village Student Hsg. Proj., BAM, TCRs | 5.000 | 05/15/29 | 760 | 950,525 | |
| Exxonmobil Proj., Rfdg., FRDD | 0.040(cc) | 12/01/29 | 4,865 | 4,865,000 | |
| Green Bond-Orchard Park Student Hsg. Proj., BAM | 4.000 | 05/15/46 | 1,000 | 1,167,185 | |
| Humangood Calif. Oblig. Grp. | 4.000 | 10/01/49 | 1,000 | 1,155,082 | |
| Series A, 144A | 5.500 | 06/01/48 | 250 | 275,769 | |
| Sr. Lien-LINXS APM Proj., Series A, AMT | 5.000 | 12/31/43 | 2,500 | 2,959,618 | |
| UCR North Dist. Phase 1 Student Hsg. Proj., BAM | 5.000 | 05/15/27 | 750 | 909,924 | |
| Wste. Mgmt., AMT (Mandatory put date 12/01/23) | 0.700(cc) | 12/01/44 | 1,000 | 999,361 | |
| California Poll. Ctrl. Fing. Auth. Rev., Green Bond-Calplant I Proj., AMT, 144A | 8.000 | 07/01/39(d) | 500 | 325,000 | |
| California Poll. Ctrl. Fing. Auth. Wtr. Facs. Rev., | |||||
| American Wtr. Cap. Proj., Rfdg. (Mandatory put date 09/01/23) | 0.600(cc) | 08/01/40 | 750 | 750,844 | |
| Green Bond-Calplant I Proj., AMT, 144A | 7.000 | 07/01/22(d) | 250 | 162,500 | |
| Wste. Mgmt. Proj., Series A, Rmkt. (Mandatory put date 05/01/24) | 2.500(cc) | 11/01/38 | 1,375 | 1,431,480 | |
| California Sch. Fin. Auth. Chrt. Sch. Rev., | |||||
| Alliance CLG-Ready Pub. Schs., Series A, Rfdg., 144A | 4.000 | 07/01/26 | 300 | 331,016 | |
| Green Dot Pub. Sch. Proj., Series A, 144A | 5.000 | 08/01/45 | 610 | 673,566 | |
| Kipp. Socal Pub. Schs., Series A, 144A | 5.000 | 07/01/49 | 1,000 | 1,206,203 | |
| California Sch. Fin. Auth. Rev., | |||||
| Alliance CLG-Ready Pub. Schs., Series A, 144A | 5.000 | 07/01/45 | 1,000 | 1,120,224 | |
| Kipp. LA. Proj., Series A, 144A | 5.000 | 07/01/45 | 1,000 | 1,121,039 | |
| Kipp. LA. Proj., Series A, 144A | 5.000 | 07/01/47 | 1,230 | 1,430,459 | |
| California St., | |||||
| GO | 5.000 | 03/01/45 | 2,000 | 2,260,800 | |
| GO, Rfdg. | 3.250 | 04/01/45 | 1,000 | 1,092,405 | |
| GO, Rfdg. | 5.000 | 08/01/28 | 1,710 | 2,107,272 | |
| GO, Rfdg. | 5.000 | 09/01/28 | 1,500 | 1,902,493 | |
| GO, Rfdg. | 5.000 | 11/01/28 | 1,095 | 1,392,201 | |
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Municipal Bonds (Continued) | |||||
| California St., (cont’d.) | |||||
| GO, Rfdg. | 5.000 % | 12/01/28 | 1,000 | $1,273,884 | |
| GO, Rfdg. | 5.000 | 08/01/45 | 1,500 | 1,718,027 | |
| GO, Rfdg. | 5.000 | 08/01/46 | 1,500 | 1,764,953 | |
| Unrefunded Balance, GO | 5.500 | 04/01/30 | 5 | 5,020 | |
| Var. Purp., GO | 3.000 | 03/01/28 | 2,000 | 2,261,935 | |
| Var. Purp., GO | 4.000 | 04/01/49 | 2,000 | 2,336,033 | |
| Var. Purp., GO | 5.250 | 04/01/35 | 1,250 | 1,270,525 | |
| Var. Purp., GO, Rfdg. | 4.000 | 10/01/27 | 2,000 | 2,364,182 | |
| Var. Purp., GO, Rfdg. | 5.000 | 10/01/47 | 2,000 | 2,330,519 | |
| California St. Pub. Wks. Brd. Lease Rev., | |||||
| Forward Delivery, Series A, Rfdg. | 5.000 | 02/01/28 | 2,375 | 2,952,864 | |
| Judicial Council Projs., Series D | 5.000 | 12/01/31 | 1,000 | 1,000,000 | |
| Off. Emerg. Svcs., Series F, Rfdg. | 5.000 | 04/01/25 | 175 | 201,229 | |
| Series C, Rfdg.(hh) | 5.000 | 08/01/28 | 875 | 1,048,435 | |
| Var. Purp., Series A, Rfdg.(hh) | 5.000 | 08/01/27 | 1,000 | 1,207,218 | |
| California Statewide Cmntys. Dev. Auth., Spl. Tax, Cmnty. Facs. Dist. #97-1, CABS | 0.795(s) | 09/01/22 | 235 | 233,603 | |
| California Statewide Cmntys. Dev. Auth. Rev., | |||||
| 899 Charleston Proj., Series A, Rfdg., 144A | 5.250 | 11/01/44 | 250 | 264,663 | |
| CHF Irvine LLC, Rfdg. | 5.000 | 05/15/27 | 685 | 806,392 | |
| CHF Irvine LLC, Rfdg. | 5.000 | 05/15/28 | 2,000 | 2,351,971 | |
| Loma Linda Univ. Med. Ctr., Series A, 144A | 5.250 | 12/01/56 | 1,000 | 1,142,106 | |
| Loma Linda Univ. Med. Ctr., Series A, Rfdg. | 5.250 | 12/01/44 | 1,585 | 1,781,621 | |
| Methodist Hosp. of Southern CA Proj. | 5.000 | 01/01/22 | 200 | 200,686 | |
| Methodist Hosp. of Southern CA Proj. | 5.000 | 01/01/23 | 500 | 522,867 | |
| Methodist Hosp. of Southern CA Proj. | 5.000 | 01/01/24 | 450 | 489,218 | |
| Methodist Hosp. of Southern CA Proj. | 5.000 | 01/01/48 | 1,975 | 2,355,187 | |
| Southern Calif. Edison Co., Series B, Rmkt., Rfdg. | 1.450 | 04/01/28 | 2,000 | 2,003,759 | |
| Chino Basin Regl. Fing. Auth. Rev., NTS, Series B | 4.000 | 11/01/25 | 2,405 | 2,712,711 | |
| Fontana, Spl. Tax, Cmnty. Facs. Dist. #22 Sierra Hills, Rfdg. | 5.000 | 09/01/34 | 500 | 548,145 | |
| Golden St. Tob. Secur. Corp. Rev., | |||||
| Series A-1, Rfdg. | 5.000 | 06/01/24 | 880 | 975,714 | |
| Series A-1, Rfdg. | 5.000 | 06/01/25 | 360 | 413,303 | |
| Series A-1, Rfdg. | 5.000 | 06/01/26 | 660 | 775,278 | |
| Series A-1, Rfdg. | 5.000 | 06/01/27 | 765 | 921,215 | |
| Series A-1, Rfdg. | 5.000 | 06/01/28 | 1,510 | 1,816,282 | |
| Series A-1, Rfdg. | 5.000 | 06/01/29 | 1,830 | 2,199,517 | |
| Series A-1, Rfdg. | 5.000 | 06/01/33 | 1,405 | 1,713,036 | |
| Inland Vlly. Dev. Agcy., Tax Alloc., Series A, Rfdg. | 5.000 | 09/01/44 | 500 | 544,562 | |
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Municipal Bonds (Continued) | |||||
| Irvine Unif. Sch. Dist., Spl. Tax, Series A | 4.000 % | 09/01/28 | 750 | $847,484 | |
| Jurupa Pub. Fing. Auth., Spl. Tax, Series A, Rfdg. | 5.000 | 09/01/42 | 1,250 | 1,380,067 | |
| La Mesa-Spring Vlly. Sch. Dist., GO, Election of 2002, Series B, CABS, Rfdg., NATL | 0.347(s) | 08/01/23 | 2,000 | 1,988,456 | |
| La Verne, Brethren Hillcrest Homes, COP, Rfdg. (Pre-refunded date 05/15/22)(ee) | 5.000 | 05/15/36 | 1,250 | 1,289,786 | |
| Lincoln Pub. Fing. Auth., Twelve Bridges, Sub. Series B, Tax Alloc., Rfdg. | 6.000 | 09/02/27 | 912 | 915,963 | |
| Long Beach Bond Fin. Auth. Nat. Gas Pur. Rev., | |||||
| Series A | 5.000 | 11/15/35 | 2,655 | 3,673,137 | |
| Series A | 5.500 | 11/15/30 | 1,375 | 1,814,837 | |
| Series A | 5.500 | 11/15/32 | 440 | 604,343 | |
| Los Angeles Calif. Dept. Arpts. Rev., | |||||
| Series A, AMT | 5.000 | 05/15/38 | 2,500 | 2,659,602 | |
| Series A, AMT | 5.250 | 05/15/48 | 1,000 | 1,233,342 | |
| Series B, Rfdg., AMT | 5.000 | 05/15/31 | 905 | 1,118,011 | |
| Sr. Series C, AMT | 5.000 | 05/15/28 | 1,000 | 1,249,469 | |
| Sub. Series C, Rfdg. | 5.000 | 05/15/24 | 390 | 433,040 | |
| Sub-P3. Proj., Series A, Rfdg., AMT | 5.000 | 05/15/28 | 1,250 | 1,550,807 | |
| Los Angeles Cnty. Metro. Trans. Auth. Rev., Green Bond, Measure R, Jr. Sub. Sales Tax, Series A | 5.000 | 06/01/29 | 1,645 | 2,131,050 | |
| Los Angeles Cnty. Regional Fing. Auth. Rev., Montecedro, Inc. Proj., Series A | 5.000 | 11/15/44 | 1,250 | 1,298,438 | |
| Los Angeles Dept. of Wstewtr. Sys. Rev., Green Bond, Sub. Wtr. Sys., Series A | 4.000 | 06/01/42 | 1,500 | 1,726,917 | |
| Los Angeles Dept. of Wtr. & Pwr. Rev., Series B, Rfdg. | 5.000 | 07/01/41 | 1,000 | 1,310,538 | |
| Los Angeles Dept. of Wtr. & Pwr. Wtr. Sys. Rev., Series B | 5.000 | 07/01/34 | 2,500 | 2,680,632 | |
| Los Angeles Unif. Sch. Dist., Series C, GO | 5.000 | 07/01/28 | 1,000 | 1,263,043 | |
| Metro. Wtr. Dist. of Southern Calif. Rev., Sub. Series C, Rmkt. (Mandatory put date 11/23/23) | 0.190(cc) | 07/01/47 | 2,000 | 2,035,376 | |
| M-S-R Energy Auth. Rev., Series A | 6.500 | 11/01/39 | 1,000 | 1,620,266 | |
| Northern Calif. Energy Auth. Rev., Series A (Mandatory put date 07/01/24) | 4.000(cc) | 07/01/49 | 3,975 | 4,308,311 | |
| Northern Calif. Tob. Secur. Auth. Rev., Sr. Bonds, Series A, Rfdg. | 5.000 | 06/01/28 | 1,000 | 1,243,219 | |
| Northern Calif. Transmn. Agy. Rev., Calif.- Oregon Proj., Series A, Rfdg. | 5.000 | 05/01/39 | 750 | 874,918 | |
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Municipal Bonds (Continued) | |||||
| Orange Cnty. Cmnty. Facs. Dist., | |||||
| Spl. Tax, No. 2015-1 Esencia Vlg., Series A | 5.250 % | 08/15/45 | 2,150 | $2,421,440 | |
| Spl. Tax, No. 2017-1 Esencia Vlg., Series A | 5.000 | 08/15/47 | 1,500 | 1,751,134 | |
| Orange Cnty. Trans. Auth. Rev., | |||||
| Express Lane Sr. Lien 91, Rfdg. | 5.000 | 08/15/29 | 1,000 | 1,077,880 | |
| I-405 Impt. Proj. BANS | 5.000 | 10/15/24 | 1,500 | 1,694,613 | |
| Pittsburg Successor Agy. Redev. Agy., | |||||
| Los Medanos Cmnty. Dev. Proj., Tax Alloc., AMBAC, CABS | 1.096(s) | 08/01/26 | 1,375 | 1,306,561 | |
| Tax Alloc., Sub. Series A, Rfdg., AGM | 5.000 | 09/01/29 | 1,750 | 2,066,710 | |
| Port of Oakland Rev., | |||||
| Inter Lien, Series E, Rfdg. | 5.000 | 11/01/26 | 625 | 752,917 | |
| Intermediate Lien, Series H, Rfdg., AMT | 5.000 | 05/01/28 | 1,875 | 2,325,490 | |
| Sr. Lien, Series P, Rfdg., AMT (Pre-refunded date 05/01/22)(ee) | 5.000 | 05/01/33 | 1,750 | 1,782,682 | |
| Poway Unif. Sch. Dist. Pub. Fing. Auth., Spl. Tax, Series A, Rfdg. | 5.000 | 09/01/35 | 1,000 | 1,125,054 | |
| Puerto Rico Comnwlth. Aqu. & Swr. Auth. Rev., | |||||
| Sr. Lien, Series A | 5.750 | 07/01/37 | 390 | 401,917 | |
| Sr. Lien, Series A | 6.000 | 07/01/47 | 325 | 335,308 | |
| Puerto Rico Sales Tax Fing. Corp. Rev., | |||||
| Series A-1, CABS | 1.519(s) | 07/01/27 | 2,072 | 1,903,998 | |
| Series A-1, CABS | 1.597(s) | 07/01/24 | 930 | 892,516 | |
| Rancho Cucamonga Redev. Agy. Successor Agy., Rancho Redev. Proj. Area, Tax Alloc., Rfdg., AGM | 5.000 | 09/01/32 | 450 | 502,183 | |
| Redding Elec. Sys. Rev., RIBS, NATL, ETM(ee) | 12.269(e) | 07/01/22 | 295 | 315,091 | |
| Riverside Cnty. Infrast. Fing. Auth. Rev., | |||||
| Series A, Rfdg. (Pre-refunded date 11/01/25)(ee) | 4.000 | 11/01/37 | 190 | 214,930 | |
| Unrefunded, Series A | 4.000 | 11/01/37 | 1,080 | 1,210,785 | |
| Riverside Cnty. Pub. Fing. Auth. Rev., Cap. Facs. Proj. (Pre-refunded 11/01/25)(ee) | 5.250 | 11/01/45 | 1,000 | 1,183,748 | |
| Roseville, | |||||
| Spl. Tax, Fiddyment Ranch Cmnty. Facs. | 4.000 | 09/01/50 | 1,775 | 2,004,831 | |
| Spl. Tax, WestPark Cmnty. Facs. Dist. No. 1, Pub. Facs., Rfdg. | 5.000 | 09/01/28 | 300 | 337,326 | |
| Spl. Tax, WestPark Cmnty. Facs. Dist. No. 1, Pub. Facs., Rfdg. | 5.000 | 09/01/37 | 500 | 553,951 | |
| Sacramento Area Flood Ctrl. Agy., Series A, Spl. Assmt., Rfdg. | 5.000 | 10/01/41 | 1,000 | 1,181,528 | |
| Sacramento Cnty., Spl. Tax, Cmnty. Facs. Dist. #2004-1, Mcclellan Park, Rfdg. | 5.000 | 09/01/40 | 1,085 | 1,276,527 | |
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Municipal Bonds (Continued) | |||||
| Sacramento Cnty. Santn. Dist. Fing. Auth. Rev., Rfdg. | 5.000 % | 12/01/28 | 500 | $639,843 | |
| San Buenaventura Rev., | |||||
| Cmnty. Mem. Hlth. Sys. (Pre-refunded date 12/01/21)(ee) | 7.500 | 12/01/41 | 500 | 500,000 | |
| Cmnty. Mem. Hlth. Sys. (Pre-refunded date 12/01/21)(ee) | 8.000 | 12/01/26 | 500 | 500,000 | |
| San Diego Cnty. Regl. Arpt. Auth. Rev., | |||||
| Sr. Series B, AMT (Pre-refunded date 07/01/23)(ee) | 5.000 | 07/01/29 | 1,970 | 2,108,958 | |
| Sr. Series B, AMT (Pre-refunded date 07/01/23)(ee) | 5.000 | 07/01/30 | 650 | 695,657 | |
| Sr. Series B, AMT (Pre-refunded date 07/01/23)(ee) | 5.000 | 07/01/43 | 2,000 | 2,129,372 | |
| Sub. Series B, Rfdg., AMT | 5.000 | 07/01/28 | 1,000 | 1,244,799 | |
| Sub. Series C, Rfdg., AMT | 5.000 | 07/01/24 | 625 | 697,273 | |
| San Diego Cnty. Wtr. Auth. Rev., | |||||
| Green Bond, Series A, Rfdg. | 5.000 | 05/01/27 | 755 | 930,791 | |
| Green Bond, Series A, Rfdg. | 5.000 | 05/01/28 | 750 | 949,365 | |
| San Diego Pub. Facs. Fing. Auth. Rev., | |||||
| Cap. Impt. Projs., Series A | 5.000 | 10/15/44 | 1,000 | 1,153,029 | |
| Series A, Rfdg. | 5.000 | 08/01/28 | 1,000 | 1,268,324 | |
| San Francisco City & Cnty. Arpt. Commn. Rev., | |||||
| Second Series A, Rfdg. | 5.000 | 05/01/27 | 400 | 473,971 | |
| Second Series A, Rfdg., AMT | 5.000 | 05/01/31 | 1,050 | 1,069,733 | |
| Second Series A, Rfdg., AMT | 5.250 | 05/01/33 | 545 | 580,805 | |
| Series A, Rfdg., AMT | 5.000 | 05/01/31 | 500 | 655,217 | |
| Series D, Rfdg., AMT | 5.000 | 05/01/26 | 1,300 | 1,535,657 | |
| Series H, Rfdg., AMT | 5.000 | 05/01/24 | 250 | 276,918 | |
| Spl. Facs. Lease, Rfdg., AMT | 5.000 | 01/01/23 | 650 | 681,586 | |
| San Jose CA Int’l. Arpt. Rev., Series A, Rfdg., AMT | 5.000 | 03/01/29 | 1,000 | 1,256,415 | |
| San Leandro Cmnty. Facs. Dist. No. 1, Spl. Tax Dist. No. 1 | 6.500 | 09/01/25 | 1,530 | 1,536,220 | |
| San Mateo Foster City Pub. Fing. Auth. Rev, Series B | 5.000 | 08/01/25 | 1,000 | 1,163,736 | |
| Santa Margarita Wtr. Dist., Spl. Tax, Cmnty. Facs. Dist. No. 2013-1 | 5.625 | 09/01/36 | 315 | 337,495 | |
| Santa Maria Joint Union H.S. Dist., Election of 2004, CABS, GO, NATL | 1.409(s) | 08/01/29 | 1,250 | 1,122,401 | |
| Santa Monica Cmnty. Clg. Dist., Election of 2002, Series A, GO, NATL | 1.225(s) | 08/01/28 | 1,055 | 972,445 | |
| Southern Calif. Tob. Secur. Auth. Rev., | |||||
| San Diego Co., Asset security, Rfdg. | 5.000 | 06/01/25 | 1,480 | 1,707,467 | |
| San Diego Co., Asset security, Rfdg. | 5.000 | 06/01/28 | 420 | 523,119 | |
| Description | Interest Rate | Maturity Date | Principal Amount (000)# | Value | |
| Municipal Bonds (Continued) | |||||
| Stockton Pub. Fing. Auth. Rev., Delta Wtr. Sply. Proj., Series A, Rmkt. (Pre-refunded date 10/01/23)(ee) | 6.250 % | 10/01/40 | 700 | $776,495 | |
| Univ. of California Rev., Gen. Series AK, Rfdg. (Mandatory put date 05/15/23) | 5.000(cc) | 05/15/48 | 1,275 | 1,364,521 | |
| Walnut Energy Ctr. Auth. Rev., Rfdg. | 5.000 | 01/01/34 | 1,000 | 1,114,764 | |
| TOTAL INVESTMENTS 101.4% (cost $214,620,925) | 226,508,790 | ||||
| Liabilities in excess of other assets(z) (1.4)% | (3,228,651) | ||||
| Net Assets 100.0% | $223,280,139 | ||||
| Below is a list of the abbreviation(s) used in the quarterly schedule of portfolio holdings: | |||||
| 144A—Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, pursuant to the requirements of Rule 144A, may not be resold except to qualified institutional buyers. | |
| AGM—Assured Guaranty Municipal Corp. | |
| AMBAC—American Municipal Bond Assurance Corp. | |
| AMT—Alternative Minimum Tax | |
| BAM—Build America Mutual | |
| BANS—Bond Anticipation Notes | |
| CABS—Capital Appreciation Bonds | |
| COP—Certificates of Participation | |
| ETM—Escrowed to Maturity | |
| FRDD—Floating Rate Daily Demand Note | |
| GO—General Obligation | |
| NATL—National Public Finance Guarantee Corp. | |
| Rfdg—Refunding | |
| RIBS—Residual Interest Bonds | |
| TCRs—Transferrable Custodial Receipts |
| # | Principal amount is shown in U.S. dollars unless otherwise stated. |
| (cc) | Variable rate instrument. The rate shown is based on the latest available information as of November 30, 2021. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description. |
| (d) | Represents issuer in default on interest payments and/or principal repayment. Non-income producing security. Such securities may be post-maturity. |
| (e) | Inverse floating rate bond. The coupon is inversely indexed to a floating rate. The rate shown is the rate at November 30, 2021. |
| (ee) | All or partial escrowed to maturity and pre-refunded issues are secured by escrowed cash, a guaranteed investment contract and /or U.S. guaranteed obligations. |
| (hh) | When-issued security. |
| (s) | Represents zero coupon. Rate quoted represents effective yield at November 30, 2021. |
| (z) | Includes net unrealized appreciation/(depreciation) and/or market value of the below holdings which are excluded from the Schedule of Investments: |
| Futures contracts outstanding at November 30, 2021: | ||||||||
| Number of Contracts | Type | Expiration Date | Current Notional Amount | Value / Unrealized Appreciation (Depreciation) | ||||
| Short Position: | ||||||||
| 9 | 20 Year U.S. Treasury Bonds | Mar. 2022 | $1,459,125 | $(26,132) | ||||