# EDGAR Filing Document

**Accession Number:** 0001911795
**File Stem:** 0001099263-26-003123
**Filing Date:** 2026-3
**Character Count:** 95132
**Document Hash:** 58c5cd631e410f8debfcc128f3f4d34d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-26-003123.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0001099263-26-003123

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PIMCO California Flexible Municipal Income Fund
- **CENTRAL INDEX KEY:** 0001911795

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23781
- **FILM NUMBER:** 26705949

**BUSINESS ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 844-312-2113

**MAIL ADDRESS:**
- **STREET 1:** 1633 BROADWAY
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** PIMCO California Flexible Municipal Income Fund

- **b. Investment Company Act file number:** 811-23781

- **c. CIK number of Registrant:** 0001911795

- **d. LEI of Registrant:** 549300OTV3LKH8WMXP44

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1633 Broadway

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10019

  - **Telephone number:** (844) 312-2113

**Item A.2. Information about the Series.**

- **a. Name of Series:** N/A

- **c. LEI of Series:** N/A

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $149242214.51

**Total Liabilities:** $29125507.20

**Net Assets:** $120116707.31

**Cash Not Reported:** $943062.39

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 1515.847100 | **1-Year:** 1333.724700 | **5-Year:** 15714.992400 | **10-Year:** 42958.344200 | **30-Year:** 5478.777100

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 27.965000 | **1-Year:** 466.222800 | **5-Year:** 7530.392400 | **10-Year:** 23082.992600 | **30-Year:** 1123.503700

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.17%                | 0.25%                | -0.31%               |
| Class ID N/A | 1.21%                | 0.28%                | -0.27%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-69260.49               | $1159992.21                                |
| Month 2  | $18983.03                | $-47854.54                                 |
| Month 3  | $-38922.33               | $-675975.57                                |

**Designated Index Information**

- **Index Name:** 60% ICE 22y+ California and Puerto Rico Municipal Index, 40% Bloomberg Municipal Bond High Yield Total Return Unhedged USD Index

- **Index Identifier:** U5C0, LMHYTR

### Schedule of Portfolio Investments

| Name                                                                         | Title                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| SAN DIEGO COUNTY REGIONAL AIRPORT AUTHORITY                                  | SAN DIEGO CNTY CA REGL ARPT AU SDGAPT 07/58 FIXED OID 5.25    | CUSIP: 79739GRM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $725575.06    | 0.60%             | 2058-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO GOVT                                                             | PUERTO RICO CMWLTH PRC 11/51 ADJUSTABLE VAR                   | CUSIP: 74514L4C8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1734633 | PA      | $1136184.81   | 0.95%             | 2051-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HSG FIN AGY MUNI CT CASHSG 11/35 FIXED 3.5         | CUSIP: 13033DAE5<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    648004 | PA      | $642402.01    | 0.53%             | 2035-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO ELECTRIC POWER AUTHORITY                                         | PUERTO RICO ELEC PWR AUTH 07/40 0                             | CUSIP: 74526YEE1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $670000.00    | 0.56%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF LINCOLN CA                                                           | LINCOLN CA SPL TAX LINGEN 09/55 FIXED 5.05                    | CUSIP: 533042ME4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499443.65    | 0.42%             | 2055-09-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/40 FIXED OID 5       | CUSIP: 13051AND6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1360000 | PA      | $1421718.43   | 1.18%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA ST STWD CMNTYS DEV CASGEN 09/45 FIXED OID 5        | CUSIP: 13077ESM3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1855768.28   | 1.54%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH MF CASMFH 11/36 FIXED 4           | CUSIP: 130483ES5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $479286.95    | 0.40%             | 2036-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY                              | CALIFORNIA CNTY CA TOBACCO SEC CASGEN 06/55 ZEROCPNOID 0      | CUSIP: 13016NFC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $285532.65    | 0.24%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                        | FED HM LN PC POOL WE6104 FR 01/41 FIXED 3.72                  | CUSIP: 3132YBX92<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1962152 | PA      | $1820361.70   | 1.52%             | 2041-01-01      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| SANTA CRUZ CITY HIGH SCHOOL DISTRICT                                         | SANTA CRUZ CITY CA HIGH SCH DI SCZSCD 08/42 FIXED 4           | CUSIP: 801733KA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998753.50    | 0.83%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA ST STWD CMNTYS DEV CASDEV 09/50 FIXED 5            | CUSIP: 13078YWK7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511697.00    | 0.43%             | 2050-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GROSSMONT UNION HIGH SCHOOL DISTRICT                                         | GROSSMONT CA UNION HIGH SCH DI GROSCD 08/44 ZEROCPNOID 0      | CUSIP: 399262TS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $834241.40    | 0.69%             | 2044-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CORRIDOR TRANSPORTATION AUTHORITY                                    | ALAMEDA CA CORRIDOR TRANSPRTN ALAMEDA CORRIDOR A              | CUSIP: 010869MJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $586010.26    | 0.49%             | 2053-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RIVERSIDE UNIFIED SCHOOL DISTRICT                                            | RIVERSIDE CA UNIF SCH DIST SPL RIVSCD 09/54 FIXED 5           | CUSIP: 769069V77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    770000 | PA      | $778906.82    | 0.65%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY HOUSING AGENCY                                          | CALIFORNIA CMNTY HSG AGY ESSEN CCHHSG 02/56 FIXED OID 4       | CUSIP: 13013FAP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $492717.80    | 0.41%             | 2056-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS                                   | LOS ANGELES CA DEPT OF ARPTS A LOSAPT 05/41 FIXED OID 4       | CUSIP: 544445C49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $487521.70    | 0.41%             | 2041-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SANGER UNIFIED SCHOOL DISTRICT                                               | SANGER CA UNIF SCH DIST COPS SGREDU 06/49 FIXED 5             | CUSIP: 800860EL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003391.50   | 0.84%             | 2049-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT FINANCE AUTHORITY                                         | TOBACCO SETTLEMENT FIN AUTH WV TOBGEN 06/47 ZEROCPNOID 0      | CUSIP: 88880LAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $120583.88    | 0.10%             | 2047-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BURBANK-GLENDALE-PASADENA AIRPORT AUTHORITY BRICK CAMPAIGN                   | BURBANK GLENDALE PASADENA CA A BURAPT 07/43 FIXED OID 4.25    | CUSIP: 120827EB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1347509.08   | 1.12%             | 2043-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| FARMS NEW KENT COMMUNITY DEVEL                                               | FARMS NEW KENT VA CMNTY DEV AU FRMDEV 03/36 FIXED 3.75        | CUSIP: 311551AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    190000 | PA      | $183881.09    | 0.15%             | 2036-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/45 FIXED 5           | CUSIP: 13051AQA9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    950000 | PA      | $962051.99    | 0.80%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF ROSEVILLE CA                                                         | ROSEVILLE CA SPL TAX ROSGEN 09/33 FIXED 5                     | CUSIP: 777870XV3<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512710.00    | 0.43%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH UNIFIED SCHOOL DISTRICT                                           | LONG BEACH CA UNIF SCH DIST LONSCD 08/37 ZEROCPNOID 0         | CUSIP: 542433QM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $305653.50    | 0.25%             | 2037-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                        | FED HM LN PC POOL WE6105 FR 12/40 FIXED 3.6                   | CUSIP: 3132YBYA8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    979987 | PA      | $896314.66    | 0.75%             | 2040-12-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| MICHIGAN STATE HOSPITAL FINANCE AUTHORITY                                    | MICHIGAN ST HOSP FIN AUTH MISMED 08/55 ADJUSTABLE VAR         | CUSIP: 59465HXE1<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1108977.30   | 0.92%             | 2055-08-15      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                        | FED HM LN PC POOL WE5042 FR 06/43 FIXED 3.6                   | CUSIP: 3132YAS74<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    244890 | PA      | $221380.81    | 0.18%             | 2043-06-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| CITY OF HOUSTON TX AIRPORT SYSTEM REVENUE                                    | HOUSTON TX ARPT SYS REVENUE HOUAPT 07/34 FIXED 5.25           | CUSIP: 442349HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $538097.90    | 0.45%             | 2034-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                        | FED HM LN PC POOL WE2060 FR 02/38 FIXED 3.85                  | CUSIP: 3132Y7JD8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    982470 | PA      | $937908.17    | 0.78%             | 2038-02-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| GOLDEN STATE TOBACCO SECURITIZATION                                          | GOLDEN ST TOBACCO SECURITIZATI GLDGEN 06/51 FIXED 5           | CUSIP: 38122ND90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1481783.85   | 1.23%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES COUNTY DEVELOPMENT AUTHORITY                                     | LOS ANGELES CNTY CA DEV AUTH M LOSDEV 09/59 ADJUSTABLE VAR    | CUSIP: 54467WAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505803.85    | 0.42%             | 2059-09-01      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | 5749 BRYNHURST TE PERM                                        | CUSIP: BA000QZR2<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    273769 | PA      | $273768.60    | 0.23%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| SAN JOAQUIN VALLEY CLEAN ENERGY AUTHORITY                                    | SAN JOAQUIN VLY CLEAN ENERGY A SSJUTL 01/56 ADJUSTABLE VAR    | CUSIP: 79811YAK4<br>LEI: 254900VA5DFN33OVGH87 | Long             | DBT              | MUN               | US        |    700000 | PA      | $790872.88    | 0.66%             | 2056-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/49 FIXED OID 5       | CUSIP: 13051AHQ4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    675000 | PA      | $673719.32    | 0.56%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DOMINION WATER & SANITATION DISTRICT                                         | DOMINION WTR   SANTN DIST CO R DOMWTR 12/32 FIXED 5.25        | CUSIP: 25755AAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257549.03    | 0.21%             | 2032-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 02/52 ADJUSTABLE VAR    | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1268303.25   | 1.06%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LINCOLN CA                                                           | LINCOLN CA SPL TAX LINGEN 09/50 FIXED 5                       | CUSIP: 533042MC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    570000 | PA      | $570597.25    | 0.48%             | 2050-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BERKS COUNTY MUNICIPAL AUTHORITY                                             | BERKS CNTY PA MUNI AUTH BERKS CO MUNI AUTH A1                 | CUSIP: 084538JD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     44000 | PA      | $44149.34     | 0.04%             | 2034-06-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                             | CALIFORNIA ST HLTH FACS FING A CASMED 11/38 FIXED 4           | CUSIP: 13032UMM7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1507076.40   | 1.25%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE & CO                                                         | JPMORGAN CHASE + CO JR SUBORDINA 12/99 VAR                    | CUSIP: 000000000<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |    125000 | NS      | $124362.50    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| ONTARIO INTERNATIONAL AIRPORT AUTHORITY                                      | ONTARIO CA INTERNATIONAL ARPT ONATRN 05/51 FIXED 4            | CUSIP: 683042AN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $562072.14    | 0.47%             | 2051-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/54 FIXED 5.125       | CUSIP: 13051AGT9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506550.55    | 0.42%             | 2054-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                             | CALIFORNIA ST HLTH FACS FING A CASMED 03/40 ADJUSTABLE VAR    | CUSIP: 13032UG93<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517661.10    | 0.43%             | 2040-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA STWD CMNTYS DEV AUT CASGEN 12/53 FIXED 5           | CUSIP: 13080STL8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300817.98    | 0.25%             | 2053-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS PUBLIC FINANCING AUTHORITY                                     | RIVER ISLANDS CA PUBLIC FING A RIVER ISLANDS PUB FIN          | CUSIP: 76827QKZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994399.60    | 0.83%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE UNIVERSITY                                                  | CALIFORNIA ST UNIV REVENUE CASHGR 11/50 FIXED 5.25            | CUSIP: 13077DWF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543775.05    | 0.45%             | 2050-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF SAN FRANCISCO CA PUBLIC UTILITIES COMMISSION WATER REVENUE           | SAN FRANCISCO CITY   CNTY CA P SFOWTR 11/39 FIXED 4           | CUSIP: 79765RJ67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000852.30   | 0.83%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                        | FED HM LN PC POOL WE6092 FR 01/39 FIXED 3.66                  | CUSIP: 3132YBXV3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    728285 | PA      | $680182.57    | 0.57%             | 2039-01-01      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE UNIVERSITY                                                  | CALIFORNIA ST UNIV REVENUE CASHGR 11/43 FIXED OID 4           | CUSIP: 13077CX41<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $494618.75    | 0.41%             | 2043-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOUISIANA HOUSING FIN AGY MTG REV                                            | FEDERAL BUILDING 10 FIXED DELAYED DRAW TERM LOAN              | CUSIP: BA000TV66<br>LEI: 549300VL35TBE7RSJH61 | Long             | ABS-MBS          | CORP              | US        |   2500000 | PA      | $2500407.00   | 2.08%             | 2026-07-31      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 11/54 ADJUSTABLE VAR    | CUSIP: 13013JDG8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    750000 | PA      | $796994.25    | 0.66%             | 2054-11-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| SAN RAFAEL CITY ELEMENTARY SCHOOL DISTRICT                                   | SAN RAFAEL CA ELEM SCH DIST SRFSCD 08/47 FIXED 4              | CUSIP: 799306QE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $242880.88    | 0.20%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ORANGE COUNTY COMMUNITY FACILITIES DISTRICT                                  | ORANGE CNTY CA CMNTY FACS DIST ORAFAC 08/47 FIXED 5           | CUSIP: 68423PZJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254755.33    | 0.21%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK                      | CALIFORNIA INFRASTRUCTURE   EC CA INFRA + ECON DEV            | CUSIP: 13035CAB1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    500000 | PA      | $462918.20    | 0.39%             | 2054-07-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CAL T                                     | TOBACCO SECURITIZATION AUTH ST TOBGEN 06/54 ZEROCPNOID 0      | CUSIP: 888804CU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $413589.80    | 0.34%             | 2054-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HOUSNG FINANCE AGCY FIXED TE CONSTN 144A DDTL      | CUSIP: BA000Q637<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $599946.10    | 0.50%             | 2028-04-01      | Fixed         | 1.73%                 | No            |                  3 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                             | CALIFORNIA ST HLTH FACS FING A CASMED 10/50 ADJUSTABLE VAR    | CUSIP: 13032U4R6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1708181.70   | 1.42%             | 2050-10-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| CHINO VALLEY UNIFIED SCHOOL DISTRICT                                         | CHINO VY UNI SCH DIST CALIF 08/39 0                           | CUSIP: 169583JP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $220079.98    | 0.18%             | 2039-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORANGE COUNTY COMMUNITY FACILITIES DISTRICT                                  | ORANGE CNTY CA CMNTY FACS DIST ORANGE CO CMNTY FACS           | CUSIP: 68423PA83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1569371.40   | 1.31%             | 2048-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ANAHEIM HOUSING & PUBLIC IMPROVEMENTS AUTHORITY                              | ANAHEIM CA HSG   PUBLIC IMPT A ANAHSG 10/54 ADJUSTABLE VAR    | CUSIP: 032556NJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $985000.00    | 0.82%             | 2054-10-01      | Variable      | 0.20%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FINANCE AUTHORITY                                          | CALIFORNIA PUBLIC FIN AUTH REV CASGEN 11/49 FIXED 5           | CUSIP: 13056HAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $760150.73    | 0.63%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK TRANSPORTATION DEVELOPMENT CORPORATION                              | NEW YORK ST TRANSPRTN DEV CORP NYTTRN 04/35 FIXED 6           | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1102572.20   | 0.92%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SACRAMENTO CA                                                      | SACRAMENTO CNTY CA SPL TAX SACGEN 09/47 FIXED 5               | CUSIP: 786153RU2<br>LEI: 549300OXI5MD45L13R20 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100942.10    | 0.08%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALHOUN COUNTY NAVIGATION INDUSTRIAL DEVELOPMENT AUTHORITY                   | CALHOUN CNTY TX NAVIGATION IND CLHDEV 07/26 FIXED 3.625       | CUSIP: 129729AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $245098.95    | 0.20%             | 2026-07-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK                      | CALIFORNIA ST INFRASTRUCTURE CASDEV 01/61 ZEROCPNOID 0        | CUSIP: 13034AR28<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   3915000 | PA      | $351550.56    | 0.29%             | 2061-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORPORATION                                               | BUILD NYC RESOURCE CORP NY REV BUIGEN 12/50 FIXED OID 5.625   | CUSIP: 12008EPK6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    100000 | PA      | $85816.93     | 0.07%             | 2050-12-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO GOVT                                                             | PUERTO RICO CMWLTH PRC 11/43 ADJUSTABLE VAR                   | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | PR        |   1542857 | PA      | $989357.15    | 0.82%             | 2043-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| ALTRUDY LANE SENIOR APARTMENTS - IMPACT FUND LIHTC PORTFOLIO                 | ALTRUDY LANE SENIOR APARTMENTS FIXED TERM LOAN                | CUSIP: BA000DPH4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3861144 | PA      | $3515957.46   | 2.93%             | 2041-04-01      | Fixed         | 4.23%                 | Yes           |                  3 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE                       | PUERTO RICO SALES TAX FING COR PRCGEN 07/58 FIXED OID 5       | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   1000000 | PA      | $964387.00    | 0.80%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SO CASPOL 07/41 ADJUSTABLE VAR    | CUSIP: 13048RAJ6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    800000 | PA      | $799907.68    | 0.67%             | 2041-07-01      | Variable      | 3.45%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                     | NATIONAL FIN AUTH NH MUNI CTFS NFADEV 12/36 FIXED OID 4.817   | CUSIP: 63607WAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    482428 | PA      | $486980.47    | 0.41%             | 2036-12-20      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY                               | BUCKEYE OH TOBACCO SETTLEMENT BUCGEN 06/57 ZEROCPNOID 0       | CUSIP: 118217DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3200000 | PA      | $237478.08    | 0.20%             | 2057-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HSG FIN AGY LTD OBL CASMFH 03/53 ADJUSTABLE VAR    | CUSIP: 13034DAK0<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250696.43    | 0.21%             | 2053-03-01      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HOUSING FNANCE AGCY TE CONSTRUCTION 144A           | CUSIP: BA000QPK8<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    513736 | PA      | $513685.06    | 0.43%             | 2028-04-01      | Fixed         | 1.43%                 | No            |                  3 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CAL T                                     | TOBACCO SECURITIZATION AUTH ST TOBGEN 06/48 FIXED 5           | CUSIP: 888804CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000202.30   | 0.83%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC MULTIFAMILY ML CERTIFICATES                                      | FREDDIE MAC MULTIFAMILY FRETE 2023 ML18 ACA                   | CUSIP: 3137HASQ0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | DBT              | MUN               | US        |    484730 | PA      | $410545.03    | 0.34%             | 2037-09-25      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| IRVINE FACILITIES FINANCING AUTHORITY                                        | IRVINE CA FACS FING AUTH SPL T IRGFAC 09/49 ZEROCPNOID 0      | CUSIP: 46360WAV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $416877.50    | 0.35%             | 2049-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH RE CASFIN 01/39 FIXED 6           | CUSIP: 13048VQ27<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3130668.90   | 2.61%             | 2039-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITY OF DETROIT                                                              | DETROIT MI DET 04/44 ADJUSTABLE VAR                           | CUSIP: 251093S84<br>LEI: 549300BQRJP7MKKHOY28 | Long             | DBT              | MUN               | US        |    248580 | PA      | $194907.13    | 0.16%             | 2044-04-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN STATE TOBACCO SECURITIZATION                                          | GOLDEN ST TOBACCO SECURITIZATI GLDGEN 06/41 FIXED 3.714       | CUSIP: 38122ND58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $389188.65    | 0.32%             | 2041-06-01      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| TOB SECURITIZATION AUTH NORTHNCALIF                                          | TOBACCO SECURITIZATION AUTH NT TOBGEN 06/60 ZEROCPNOID 0      | CUSIP: 888794CA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5015000 | PA      | $787120.30    | 0.66%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FHLMC PASS THRU POOLS                                                        | FED HM LN PC POOL WE6121 FR 07/41 FIXED 3.85                  | CUSIP: 3132YBYS9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1384177 | PA      | $1288206.34   | 1.07%             | 2041-07-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HSG FIN AGY LTD OBL CA HSG FIN AGY  I 2            | CUSIP: 13034DAE4<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1746895.15   | 1.45%             | 2054-06-01      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| ELK GROVE FINANCE AUTHORITY                                                  | ELK GROVE CA FIN AUTH SPL TAX ELKGEN 09/46 FIXED 5            | CUSIP: 287254ED4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501001.40    | 0.42%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO GOVT                                                             | PUERTO RICO CMWLTH PRC 07/41 FIXED 4                          | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1157045.13   | 0.96%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                     | PUBLIC FIN AUTH WI SPL REVENUE PUBFAC 09/29 ZEROCPNOID 0      | CUSIP: 74447TAA0<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    100000 | PA      | $76551.72     | 0.06%             | 2029-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ANGELINA & NECHES RIVER AUTHORITY                                            | ANGELINA NECHES RIVER AUTH I ANGDEV 12/45 FIXED 7.5           | CUSIP: 03469KAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $3152.50      | 0.00%             | 2045-12-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH MU CASMFH 02/41 ADJUST OID VAR    | CUSIP: 13050WAB7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    993707 | PA      | $879009.12    | 0.73%             | 2041-02-20      | Variable      | 3.54%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HSG FIN AGY LTD OBL CA HSG FIN AGY H               | CUSIP: 13034DAF1<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2015249.80   | 1.68%             | 2053-11-01      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 02/55 ADJUSTABLE VAR    | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081732.40   | 0.90%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE                       | PUERTO RICO SALES TAX FING COR PRCGEN 07/46 ZEROCPNOID 0      | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   5000000 | PA      | $1680129.00   | 1.40%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN STATE TOBACCO SECURITIZATION                                          | GOLDEN ST TOBACCO SECURITIZATI GLDGEN 06/50 FIXED 3.85        | CUSIP: 38122ND82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    135000 | PA      | $123452.37    | 0.10%             | 2050-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                             | CALIFORNIA ST HLTH FACS FING A CASMED 08/40 FIXED 4           | CUSIP: 13032UA81<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    500000 | PA      | $506371.90    | 0.42%             | 2040-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES UNIFIED SCHOOL DISTRICT/CA                                       | LOS ANGELES CA UNIF SCH DIST LOSSCD 07/41 FIXED 5             | CUSIP: 544647GB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $553314.80    | 0.46%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CITY OF DALLAS HOUSING FINANCE CORPORATION                                   | DALLAS TX HSG FIN CORP RSDL DE DALHSG 12/62 FIXED OID 6       | CUSIP: 23529CAA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $234987.08    | 0.20%             | 2062-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA ST HSG FIN AGY MF T CASHSG 08/41 FIXED 4.25        | CUSIP: 130331AE1<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1418447.10   | 1.18%             | 2041-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/45 FIXED OID 5.25    | CUSIP: 13051ANS3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    600000 | PA      | $620019.24    | 0.52%             | 2045-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FOOTHILL/EASTERN TOLL ROAD CA                                                | FOOTHILL ESTRN TRANSPRTN CORRI FOOTRN 01/46 FIXED 4           | CUSIP: 345105JH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $959936.50    | 0.80%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IRVINE CALIF IMPT BD ACT 1915                                                | IRVINE CA IMPT BOND ACT 1915 IRVGEN 09/29 ADJUSTABLE VAR      | CUSIP: 463608U31<br>LEI: 549300PJ9FL2XGFR8J79 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.83%             | 2029-09-02      | Variable      | 0.60%                 | No            |                  2 | On Loan: No      |
| N/A                                                                          | RFR USD SOFR/3.50000 09/17/25-30Y CME                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |         1 | NC      | $210227.62    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| TAKE BACK & EXIT FACILITY FKA GMR/ALEON                                      | AM BIDCO HOLDINGS LLC (DRS)                                   | CUSIP: 958ADP902<br>LEI: N/A                  | Long             | EC               | CORP              | US        |         9 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| TOBACCO SECURITIZATION AUTH SOUTHN CAL T                                     | TOBACCO SECURITIZATION AUTH ST TOBGEN 06/34 FIXED 5           | CUSIP: 888804CK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $264708.05    | 0.22%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STOCKTON CLAIF CMNTY FACS DIST SPL TAX                                       | STOCKTON CA CMNTY FACS DIST SP STOFAC 09/44 FIXED 5           | CUSIP: 861341TG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $384610.65    | 0.32%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIVER ISLANDS PUBLIC FINANCING AUTHORITY                                     | RIVER ISLANDS CA PUBLIC FING A RVIGEN 09/52 FIXED OID 5.75    | CUSIP: 76827QHK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $259254.78    | 0.22%             | 2052-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORPORATION                                               | BUILD NYC RESOURCE CORP NY REV BUIGEN 06/32 FIXED 5           | CUSIP: 12008ETH9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    200000 | PA      | $206733.96    | 0.17%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIO FINANCE AUTHORITY                                                      | INDIO CA PUBLIC FING AUTH INDGEN 11/52 FIXED OID 4.5          | CUSIP: 45571LDS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253560.68    | 0.21%             | 2052-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CLOVIS UNIFIED SCHOOL DISTRICT                                               | CLOVIS CA UNIF SCH DIST CVSSCD 08/41 FIXED 5.25               | CUSIP: 189342Q35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $541961.30    | 0.45%             | 2041-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 01/56 ADJUSTABLE VAR    | CUSIP: 13013JFX9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1312620.31   | 1.09%             | 2056-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE                                                             | CALIFORNIA ST CAS 12/30 FIXED 3.875                           | CUSIP: 13063CXP0<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500076.85    | 0.42%             | 2030-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| EASTERN MUNICIPAL WATER DISTRICT                                             | ESTRN CA MUNI WTR DIST WTR   W EASWTR 07/46 ADJUSTABLE VAR    | CUSIP: 27627TBV3<br>LEI: 549300ZCFVRFDIRWK089 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.83%             | 2046-07-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| ARKANSAS DEVELOPMENT FINANCE AUTHORITY                                       | ARKANSAS ST DEV FIN AUTH INDL ARSDEV 07/48 FIXED 12           | CUSIP: 04108WCF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $542010.80    | 0.45%             | 2048-07-01      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| SPRING VALLEY COMMUNITY INFRASTRUCTURE DISTRICT NO 1                         | SPRING VLY CMNTY INFRASTRUCTUR SPVGEN 09/51 FIXED 3.75        | CUSIP: 850072AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $205068.96    | 0.17%             | 2051-09-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| ALTRUDY LANE SENIOR APARTMENTS 2 - IMPACT FUND LIHTC PORTFOLIO               | ALTRUDY LANE SENIOR APARTMENTS FIXED TERM LOAN 2              | CUSIP: BA000DPG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1394365 | PA      | $1334964.86   | 1.11%             | 2038-05-01      | Fixed         | 4.04%                 | Yes           |                  3 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA ST STWD CMNTYS DEVA CASPOL 11/33 FIXED 4.5         | CUSIP: 13078HBB7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2101582.40   | 1.75%             | 2033-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MICHIGAN TOBACCO SETTLEMENT FINANCE AUTHORITY                                | MICHIGAN ST TOBACCO SETTLEMENT MISGEN 06/46 ZEROCPNOID 0      | CUSIP: 594751AL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $204918.60    | 0.17%             | 2046-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CITY OF RENO NV                                                              | RENO NV SALES TAX REVENUE RENGEN 07/58 ZEROCPNOID 0           | CUSIP: 759861EJ2<br>LEI: 549300M4R5WWSUWY8D52 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $158217.10    | 0.13%             | 2058-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY                                  | CALIFORNIA ST EDUCTNL FACS AUT CASEDU 04/47 FIXED 5           | CUSIP: 130179JF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001578.10   | 0.83%             | 2047-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA ST STWD CMNTYS DEV CASDEV 09/49 FIXED OID 5        | CUSIP: 13078YVG7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    525000 | PA      | $536252.01    | 0.45%             | 2049-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEJON RANCH PUBLIC FACILITIES FINANCE AUTHORITY                              | TEJON RANCH CA PUBLIC FACS FIN TEJFAC 09/54 FIXED 5           | CUSIP: 879083FP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $301305.93    | 0.25%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CMFA SPECIAL FINANCE AGENCY VIII                                             | CMFA SPL FIN AGY VIII CA ESSEN CMFHSG 08/47 FIXED 4           | CUSIP: 12574VAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $201076.88    | 0.17%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| 5625 CASE                                                                    | 5625 CASE FIXED DELAYED DRAW TERM LOAN 1                      | CUSIP: BA000PYN4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    323051 | PA      | $323051.02    | 0.27%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/34 FIXED 4.25        | CUSIP: 13051AGP7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    245000 | PA      | $254879.11    | 0.21%             | 2034-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK                      | CALIFORNIA ST INFRASTRUCTURE CASDEV 01/56 FIXED 5             | CUSIP: 13034AQ86<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    310000 | PA      | $266460.38    | 0.22%             | 2056-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST                                  | BLACKROCK CALIFORNIA MUNICIPAL BLACKROCK CA MUNI INC TR       | CUSIP: 09248E102<br>LEI: LE6236HQD6DXEGUHE217 | Long             | EC               | CORP              | US        |     68750 | NS      | $738375.00    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| BAY AREA TOLL AUTHORITY                                                      | BAY AREA CA TOLL AUTH TOLL BRI BAYTRN 04/59 ADJUSTABLE VAR    | CUSIP: 072024YY2<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 1.67%             | 2059-04-01      | Variable      | 0.15%                 | No            |                  2 | On Loan: No      |
| MENIFEE UNION SCHOOL DISTRICT                                                | MENIFEE CA UNION SCH DIST MNFSCD 08/46 FIXED OID 4            | CUSIP: 586807KS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $491017.85    | 0.41%             | 2046-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/39 FIXED 5           | CUSIP: 13051AGQ5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    275000 | PA      | $288679.24    | 0.24%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| 5625 CASE                                                                    | CALIFORNIA HOUSNG FINANCE AGCY FIXED DELAYED DRAW TERM LOAN   | CUSIP: BA000PYM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    530242 | PA      | $530178.38    | 0.44%             | 2028-04-01      | Fixed         | 1.74%                 | No            |                  3 | On Loan: No      |
| MOUNTAIN HOUSE COMMUNITY FACILITIES DISTRICT                                 | MOUNTAIN HOUSE CMNTY FACS DIST MTHDEV 09/40 FIXED 5           | CUSIP: 62412KAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $522958.00    | 0.44%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATE                                                             | CALIFORNIA ST CAS 09/34 FIXED 4                               | CUSIP: 13063CS76<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1207080.72   | 1.00%             | 2034-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 05/54 ADJUSTABLE VAR    | CUSIP: 13013JDR4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3216918.00   | 2.68%             | 2054-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COLORADO HSG FIN AUTH SGL FAML PROG                                          | COLORADO ST HSG FIN AUTH MF HS CO HSG + FIN AUTH A            | CUSIP: 19647PDP5<br>LEI: 5493005GIROYQAWBMC18 | Long             | DBT              | MUN               | US        |    300000 | PA      | $297565.86    | 0.25%             | 2054-06-01      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FINANCE AUTHORITY                                          | CALIFORNIA PUBLIC FIN AUTH REV CASGEN 07/38 FIXED 4           | CUSIP: 13057EFH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $521432.15    | 0.43%             | 2038-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BERKS COUNTY MUNICIPAL AUTHORITY                                             | BERKS CNTY PA MUNI AUTH BERKS CO MUNI AUTH A1                 | CUSIP: 084538JF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     22000 | PA      | $23650.08     | 0.02%             | 2034-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HSG FIN AGY LTD OBL CASMFH 03/53 ADJUSTABLE VAR    | CUSIP: 13034DAJ3<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016546.60   | 0.85%             | 2053-03-01      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUND                              | NUVEEN CALIFORNIA QUALITY MUNI NUVEEN CA QLTY MUNI INC        | CUSIP: 67066Y105<br>LEI: 549300ZT6V9X5U9BHR46 | Long             | EC               | CORP              | US        |     73900 | NS      | $872759.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CMFA SPECIAL FINANCE AGENCY                                                  | CMFA SPL FIN AGY CA ESSENTIAL CMFHSG 08/45 FIXED 4            | CUSIP: 12574WAB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $525783.06    | 0.44%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HSG FIN AGY MUNI CT CASHSG 03/33 FIXED 4           | CUSIP: 13033DAC9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    426754 | PA      | $437468.60    | 0.36%             | 2033-03-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS                                   | LOS ANGELES CA DEPT OF ARPTS A LOSAPT 05/38 FIXED 5           | CUSIP: 544445RC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1057650.30   | 0.88%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA STWD CMNTYS DEV AUT CASGEN 12/41 FIXED 5           | CUSIP: 13080SMJ0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $501217.75    | 0.42%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW HAMPSHIRE BUSINESS FINANCE AUTHORITY                                     | NATIONAL FIN AUTH NH MUNI CTFS NFADEV 07/39 ADJUSTABLE VAR    | CUSIP: 63607WBB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    793001 | PA      | $775611.39    | 0.65%             | 2039-07-20      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH CO CASMED 11/36 FIXED 5.25        | CUSIP: 130493CK3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    200000 | PA      | $205430.90    | 0.17%             | 2036-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE                       | PUERTO RICO SALES TAX FING COR PRCGEN 07/51 ZEROCPNOID 0      | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |   4500000 | PA      | $1131502.95   | 0.94%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 02/54 ADJUSTABLE VAR    | CUSIP: 13013JDB9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    300000 | PA      | $319333.14    | 0.27%             | 2054-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HSG FIN AGY LTD OBL CASMFH 07/40 FIXED 4.1         | CUSIP: 13034DAM6<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009816.20   | 0.84%             | 2040-07-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| WILD RIVERS WATER PARK                                                       | WILD RIVERS WATER PARK SECURED 11/51 8.5                      | CUSIP: 96810LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $155608.69    | 0.13%             | 2051-11-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| RIO HONDO CALIF CMNTY COLLEGE DIST                                           | RIO HONDO CA CMNTY CLG DIST RHDHGR 08/46 ZEROCPNOID 0         | CUSIP: 767121EV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $370912.80    | 0.31%             | 2046-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OHIO AIR QUALITY DEVELOPMENT AUTHORITY                                       | OHIO ST AIR QUALITY DEV AUTH E OHSDEV 07/49 FIXED 5           | CUSIP: 67754AAF1<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |    300000 | PA      | $270456.99    | 0.23%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY                               | BUCKEYE OH TOBACCO SETTLEMENT BUCGEN 06/55 FIXED 5            | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1850000 | PA      | $1499859.38   | 1.25%             | 2055-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 01/54 ADJUSTABLE VAR    | CUSIP: 13013JCM6<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    300000 | PA      | $318902.34    | 0.27%             | 2054-01-01      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| HASTINGS CAMPUS HOUSING FINANCE AUTHORITY                                    | HASTINGS CAMPUS HSG FIN AUTH C HCHGEN 07/61 FIXED 5           | CUSIP: 418338AB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $901318.90    | 0.75%             | 2061-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN DIEGO COUNTY REGIONAL AIRPORT AUTHORITY                                  | SAN DIEGO CNTY CA REGL ARPT AU SDGAPT 07/46 FIXED 4           | CUSIP: 79739GNV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $457334.65    | 0.38%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | 3412 VICTORIA FIXED DELAYED DRAW TERM LOAN                    | CUSIP: BA000RHM1<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    217130 | PA      | $217130.00    | 0.18%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CITY OF WOODLAND CA COMMUNITY FACILITIES DISTRICT NO 2004-1                  | CITY OF WOODLAND CFD NO 2004 1 TERM LOAN                      | CUSIP: 948GDAII6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    712227 | PA      | $698255.27    | 0.58%             | 2034-09-01      | Fixed         | 4.40%                 | Yes           |                  3 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SP CASGEN 09/44 FIXED 5           | CUSIP: 13051AHP6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    325000 | PA      | $329173.03    | 0.27%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 10/54 ADJUSTABLE VAR    | CUSIP: 13013JDD5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    590000 | PA      | $644114.56    | 0.54%             | 2054-10-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CSCDA COMMUNITY IMPROVEMENT AUTHORITY                                        | CSCDA CMNTY IMPT AUTH CA ESSEN CDAHSG 02/57 FIXED 4           | CUSIP: 126292AX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $185905.20    | 0.15%             | 2057-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CITY & COUNTY AIRPORT COMM-SAN FRANCISCO INTERNATIONAL AIRPORT | SAN FRANCISCO CA CITY  CNTY AR SFOAPT 05/49 FIXED 5           | CUSIP: 79766DMB2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    250000 | PA      | $251633.40    | 0.21%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUBLIC FINANCE AUTHORITY                                                     | PUBLIC FIN AUTH WI EDUCTNL FAC PUBFIN 06/45 FIXED OID 6.5     | CUSIP: 74443DGE5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    125000 | PA      | $111868.95    | 0.09%             | 2045-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ALAMEDA CORRIDOR TRANSPORTATION AUTHORITY                                    | ALAMEDA CA CORRIDOR TRANSPRTN ALATRN 10/50 INT APROID VAR     | CUSIP: 010869JQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $564230.10    | 0.47%             | 2050-10-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| DEPARTMENT OF VETERANS AFFAIRS VETERANS FARM & HOME PURCHASE PROGRAM         | CALIFORNIA ST DEPT OF VETERANS CASHSG 12/46 FIXED 4.95        | CUSIP: 130658SS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258069.78    | 0.21%             | 2046-12-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HOUSING FNANCE AGCY TE CONSTRUCTION                | CUSIP: BA000QZT8<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    415535 | PA      | $415594.13    | 0.35%             | 2028-04-01      | Fixed         | 1.22%                 | No            |                  3 | On Loan: No      |
| BRAZORIA COUNTY INDUSTRIAL DEVELOPMENT CORP                                  | BRAZORIA CNTY TX INDL DEV CORP BZIFAC 06/43 FIXED 12          | CUSIP: 10604PAF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    109894 | PA      | $10989.43     | 0.01%             | 2043-06-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| INDIANA FINANCE AUTHORITY                                                    | INDIANA ST FIN AUTH EXEMPT FAC INSGEN 03/39 FIXED OID 7       | CUSIP: 45470DAA5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |    280000 | PA      | $14000.00     | 0.01%             | 2039-03-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SALINAS UNION HIGH SCHOOL DISTRICT                                           | SALINAS CA UNION HIGH SCH DIST SALEDU 06/47 FIXED OID 4.375   | CUSIP: 794897ES3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005934.80   | 0.84%             | 2047-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES HOUSING AUTHORITY                                                | LOS ANGELES CA HSG AUTH MF TAX LOSMFH 07/46 FIXED 4.5         | CUSIP: 54456HAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $586983.90    | 0.49%             | 2046-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BAY AREA TOLL AUTHORITY                                                      | BAY AREA CA TOLL AUTH TOLL BRI BAYTRN 04/55 ADJUSTABLE VAR    | CUSIP: 072024YE6<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 1.67%             | 2055-04-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA STWD CMNTYS DEV AUT CASGEN 10/35 FIXED 5           | CUSIP: 13080S2X1<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1292487.68   | 1.08%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY                             | CALIFORNIA ST HLTH FACS FING A CASMED 03/41 ADJUSTABLE VAR    | CUSIP: 13032UJ33<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 1.67%             | 2041-03-01      | Variable      | 0.15%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY                                  | CALIFORNIA ST EDUCTNL FACS AUT CASEDU 10/53 FIXED OID 5.5     | CUSIP: 130179VJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $484454.50    | 0.40%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE                       | PUERTO RICO SALES TAX FING COR PRCGEN 07/40 FIXED 4.329       | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | PR        |    250000 | PA      | $244907.98    | 0.20%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | 8911 RAMSGATE FIXED TE PERM 144A DDTL                         | CUSIP: BA000Q611<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    338154 | PA      | $338154.00    | 0.28%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| SAN DIEGO UNIFIED SCHOOL DISTRICT                                            | SAN DIEGO CA UNIF SCH DIST SDGEDU 07/53 FIXED OID 4           | CUSIP: 797356JG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $472338.45    | 0.39%             | 2053-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 01/55 ADJUSTABLE VAR    | CUSIP: 13013JEA0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1042854.50   | 0.87%             | 2055-01-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | CALIFORNIA HOUSNG FINANCE AGCY FIXED DELAYED DRAW TERM LOAN 1 | CUSIP: BA000RHP4<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    408870 | PA      | $408704.07    | 0.34%             | 2028-04-01      | Fixed         | 1.22%                 | No            |                  3 | On Loan: No      |
| CALIFORNIA SCHOOL FINANCE AUTHORITY                                          | CALIFORNIA ST SCH FIN AUTH CHR CASSCD 07/59 FIXED 5           | CUSIP: 13058TUF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $503895.85    | 0.42%             | 2059-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY                              | CALIFORNIA CNTY CA TOBACCO SEC CASGEN 06/50 FIXED 5           | CUSIP: 13016NGB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    440000 | PA      | $411140.40    | 0.34%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VACAVILLE CITY OF                                                            | VACAVILLE CA SPL TAX VACGEN 09/55 FIXED OID 5.25              | CUSIP: 918581CH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016846.80   | 0.85%             | 2055-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTHORITY OF PUERTO RICO                                   | GDB DEBT RECOVERY AUTH OF CMWL PRCDEV 08/40 FIXED OID 7.5     | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    793305 | PA      | $772370.87    | 0.64%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA STWD CMNTYS DEV AUT CASGEN 09/40 FIXED OID 4.375   | CUSIP: 13080SY73<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    915000 | PA      | $924681.80    | 0.77%             | 2040-09-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| TAKE BACK & EXIT FACILITY FKA GMR/ALEON                                      | AM BIDCO OPERATIONS LLC PIK DELAYED DRAW TERM LOAN            | CUSIP: BA000R643<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    226130 | PA      | $186732.48    | 0.16%             | 2027-10-21      | Fixed         | 2.76%                 | Yes           |                  3 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH RE CASFIN 11/45 FIXED 5.375       | CUSIP: 13048V3F3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    775000 | PA      | $791195.25    | 0.66%             | 2045-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CSCDA COMMUNITY IMPROVEMENT AUTHORITY                                        | CSCDA CMNTY IMPT AUTH CA ESSEN CDAHSG 10/46 FIXED 3.4         | CUSIP: 126292AJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    445000 | PA      | $351671.97    | 0.29%             | 2046-10-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BAY AREA TOLL AUTHORITY                                                      | BAY AREA CA TOLL AUTH TOLL BRI BAYTRN 04/59 ADJUSTABLE VAR    | CUSIP: 072024C59<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2500000.00   | 2.08%             | 2059-04-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY                              | CALIFORNIA CMNTY CHOICE FING A CCEDEV 12/53 ADJUSTABLE VAR    | CUSIP: 13013JBL9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    500000 | PA      | $524250.95    | 0.44%             | 2053-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| N/A                                                                          | US 10YR NOTE (CBT)MAR26 XCBT 20260320                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |       -33 | NC      | $11816.12     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH MF CASMFH 12/42 FIXED 4.45        | CUSIP: 130483GQ7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    900000 | PA      | $908161.56    | 0.76%             | 2042-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH RE CASFIN 09/30 FIXED 3           | CUSIP: 13048VUM8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    220000 | PA      | $212080.33    | 0.18%             | 2030-09-01      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| STOCKTON CLAIF CMNTY FACS DIST SPL TAX                                       | STOCKTON CA CMNTY FACS DIST SP STOFAC 09/54 FIXED OID 5       | CUSIP: 861341TJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $642470.79    | 0.53%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRAL UNIFIED SCHOOL DISTRICT                                              | CENTRL CA UNIF SCH DIST COPS CCAEDU 08/50 FIXED 5.25          | CUSIP: 155667GC6<br>LEI: 549300AKOP2UG4D0YH67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1053409.10   | 0.88%             | 2050-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CITY OF SACRAMENTO CA                                                        | SACRAMENTO CA SPL TAX SACGEN 09/50 FIXED 4                    | CUSIP: 786071RC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $440838.75    | 0.37%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNIVERSITY OF CALIFORNIA                                                     | UNIV OF CALIFORNIA REVENUES UNVHGR 05/48 ADJUSTABLE VAR       | CUSIP: 91412GSG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1400000.00   | 1.17%             | 2048-05-15      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| GOLDEN STATE TOBACCO SECURITIZATION                                          | GOLDEN ST TOBACCO SECURITIZATI GLDGEN 06/66 ZEROCPNOID 0      | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $490169.50    | 0.41%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA ST STWD CMNTYS DEV CASDEV 09/54 FIXED OID 5        | CUSIP: 13078YVH5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    575000 | PA      | $584972.23    | 0.49%             | 2054-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH SC CASFAC 05/44 FIXED 5.5         | CUSIP: 13051BAB2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    350000 | PA      | $354224.71    | 0.29%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA STWD CMNTYS DEV AUT CASGEN 12/58 FIXED 5.5         | CUSIP: 13080SVN1<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    300000 | PA      | $303174.72    | 0.25%             | 2058-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COUNTY OF SACRAMENTO CA                                                      | SACRAMENTO CNTY CA SPL TAX SACGEN 09/36 FIXED 5               | CUSIP: 786153RR9<br>LEI: 549300OXI5MD45L13R20 | Long             | DBT              | MUN               | US        |    270000 | PA      | $287368.99    | 0.24%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHICAGO BOARD OF EDUCATION                                                   | CHICAGO IL BRD OF EDU CHIEDU 12/40 FIXED OID 5                | CUSIP: 167505A30<br>LEI: 54930099NR6T9V7LVB43 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980735.90    | 0.82%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA SCHOOL FINANCE AUTHORITY                                          | CALIFORNIA SCH FIN AUTH SCH FA CASSCD 07/54 FIXED 5           | CUSIP: 13059TJR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $505207.45    | 0.42%             | 2054-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NUVEEN CALIFORNIA AMT-FREE QUALITY MUNICIPAL INCOME FUND                     | NUVEEN CALIFORNIA AMT FREE QUA NUVEEN CA AMT FR MUNI INC      | CUSIP: 670651108<br>LEI: 5493005SR7RRUAG9VK19 | Long             | EC               | CORP              | US        |     70100 | NS      | $872044.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH RE CASFIN 11/54 FIXED 5.625       | CUSIP: 13048V3G1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $508653.75    | 0.42%             | 2054-11-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| COLORADO INTERNATIONAL CENTER METROPOLITAN DISTRICT NO 7                     | COLORADO INTL CTR MET DIST NO CICDEV 12/51 INT APROID VAR     | CUSIP: 19650TAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $414582.00    | 0.35%             | 2051-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| CITY OF FIREBAUGH CA                                                         | FIREBAUGH CA LEASE AGREEMENT FRBGEN 08/39 FIXED 4             | CUSIP: 31813EAB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $222610.05    | 0.19%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| M-S-R ENERGY AUTHORITY                                                       | M S R CA ENERGY AUTH GAS REVEN MSRPWR 11/39 FIXED OID 6.5     | CUSIP: 55374SAF7<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |    330000 | PA      | $406264.68    | 0.34%             | 2039-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY                       | CALIFORNIA STWD CMNTYS DEV AUT CASGEN 12/46 FIXED 5           | CUSIP: 13080SMK7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    400000 | PA      | $400062.48    | 0.33%             | 2046-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA PUBLIC FINANCE AUTHORITY                                          | CALIFORNIA PUBLIC FIN AUTH REV CASGEN 07/54 FIXED OID 6.25    | CUSIP: 13057EDH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $257236.33    | 0.21%             | 2054-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IOWA FINANCE AUTHORITY                                                       | IOWA ST FIN AUTH REVENUE IASGEN 01/42 FIXED OID 8             | CUSIP: 46247SCZ5<br>LEI: 549300NQVL49BTHOW391 | Long             | DBT              | MUN               | US        |    250000 | PA      | $222601.25    | 0.19%             | 2042-01-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA HOUSING FINANCE AGENCY                                            | 4345 MATILJA TE PERM 144A                                     | CUSIP: BA000QPH5<br>LEI: 549300BOPCVLBA552Z14 | Long             | ABS-MBS          | CORP              | US        |    304757 | PA      | $304756.82    | 0.25%             | 2044-04-01      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| THE ATLANTA DEVELOPMENT AUTHORITY                                            | ATLANTA GA DEV AUTH ATLDEV 04/34 FIXED 5                      | CUSIP: 04780NMW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102100.19    | 0.09%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA MUNICIPAL FINANCE AUTHORITY                                       | CALIFORNIA ST MUNI FIN AUTH MU CASGEN 11/40 ADJUSTABLE VAR    | CUSIP: 13050WAD3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    998651 | PA      | $1000696.31   | 0.83%             | 2040-11-20      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-27

**Name of Applicant:** PIMCO California Flexible Municipal Income Fund

**Signature:** /s/ Bijal Parikh

**Name of Signer:** Bijal Parikh

**Title:** Treasurer