# EDGAR Filing Document

**Accession Number:** 0000898745
**File Stem:** 0001752724-25-150695
**Filing Date:** 2025-6
**Character Count:** 111418
**Document Hash:** 38e990d5f49589b53aad6b368a88967c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-150695.hdr.sgml**: 20250623

**ACCESSION NUMBER**: 0001752724-25-150695

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250623

**DATE AS OF CHANGE**: 20250623

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRINCIPAL FUNDS, INC.
- **CENTRAL INDEX KEY:** 0000898745

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07572
- **FILM NUMBER:** 251063743

**BUSINESS ADDRESS:**
- **STREET 1:** 711 HIGH STREET
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392
- **BUSINESS PHONE:** 515-235-9328

**MAIL ADDRESS:**
- **STREET 1:** PRINCIPAL FINANCIAL GROUP
- **CITY:** DES MOINES
- **STATE:** IA
- **ZIP:** 50392

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS, INC
- **DATE OF NAME CHANGE:** 20211220

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL FUNDS INC
- **DATE OF NAME CHANGE:** 20080616

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRINCIPAL INVESTORS FUND INC
- **DATE OF NAME CHANGE:** 20001012

## Series and Classes Contracts Data

### California Municipal Fund (Series ID: S000014232)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000038715 | Class A       | SRCMX           |
| C000038717 | Class C       | SRCCX           |
| C000153061 | Institutional | PCMFX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Principal Funds, Inc

- **b. Investment Company Act file number:** 811-07572

- **c. CIK number of Registrant:** 0000898745

- **d. LEI of Registrant:** 549300HZGBXSW6DSXF23

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

  - **Street Address 1:** 801 Grand Ave

  - **City:** Des Moines

  - **State:** IA

  - **Foreign country:** US

  - **Zip / Postal Code:** 50309

  - **Telephone number:** 515-235-1719

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

- **a. Name of Series:** California Municipal Fund

- **b. EDGAR series identifier (if any):** S000014232

- **c. LEI of Series:** 549300TB8YHKFT7I8G29

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $616389610.96

**Total Liabilities:** $2847194.61

**Net Assets:** $613542416.35

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1518.16490000 | **1-Year:** 4614.67890000 | **5-Year:** 66023.22680000 | **10-Year:** 120878.18630000 | **30-Year:** 132465.21470000

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

- **3-Month:** 283.38250000 | **1-Year:** 861.38170000 | **5-Year:** 12323.97780000 | **10-Year:** 22563.27280000 | **30-Year:** 24726.12200000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000153061 | 1.09%                | -1.43%               | -0.93%               |
| Class ID C000038715 | 1.07%                | -1.45%               | -0.95%               |
| Class ID C000038717 | 1.00%                | -1.51%               | -0.91%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5572.79                 | $4678778.07                                |
| Month 2  | $619382.74               | $-11272725.87                              |
| Month 3  | $-5308190.99             | $-2180354.66                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1685484 | PA      | $1007076.78   | 0.16%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| iShares California Muni Bond ETF                                                                          | iShares California Muni Bond ETF                                                                          | CUSIP: 464288356<br>LEI: 5493005PBQ3IFT3REX09 | Long             | EC               | RF                | US        |       702 | NS      | $39269.88     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11000000 | PA      | $11000104.50  | 1.79%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048TN90<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2100000 | PA      | $2105901.84   | 0.34%             | 2036-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Coachella Valley Unified School District/CA                                                               | Coachella Valley Unified School District/CA                                                               | CUSIP: 189849HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2178440.80   | 0.36%             | 2039-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport                              | San Francisco City & County Airport Comm-San Francisco International Airport                              | CUSIP: 79766DVX4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4207698.40   | 0.69%             | 2043-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| East Bay Municipal Utility District Water System Revenue                                                  | East Bay Municipal Utility District Water System Revenue                                                  | CUSIP: 271014D33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     10000 | PA      | $9027.65      | 0.00%             | 2037-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Sacramento CA Airport System Revenue                                                            | County of Sacramento CA Airport System Revenue                                                            | CUSIP: 786107VC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10482804.00  | 1.71%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |        17 | PA      | $16.23        | 0.00%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13049YEN7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10531229.00  | 1.72%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District Sales Tax Revenue                                           | San Francisco Bay Area Rapid Transit District Sales Tax Revenue                                           | CUSIP: 797669ZF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2025729.54   | 0.33%             | 2039-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    431332 | PA      | $457291.76    | 0.07%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport                              | San Francisco City & County Airport Comm-San Francisco International Airport                              | CUSIP: 79766DLW7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3076612.20   | 0.50%             | 2036-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                                                | Southern California Public Power Authority                                                                | CUSIP: 842469CL0<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019770.50   | 0.17%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Santa Monica-Malibu Unified School District                                                               | Santa Monica-Malibu Unified School District                                                               | CUSIP: 802498D77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1969177.40   | 0.32%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032US82<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2026460.60   | 0.33%             | 2054-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                                                         | California Housing Finance Agency                                                                         | CUSIP: 13033DAG0<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |  11924494 | PA      | $11698274.55  | 1.91%             | 2035-03-25      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Richmond Joint Powers Financing Authority                                                                 | Richmond Joint Powers Financing Authority                                                                 | CUSIP: 764440JT1<br>LEI: 549300O54N3JTBY74Q35 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1244381.86   | 0.20%             | 2035-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                                                   | Los Angeles Department of Water & Power                                                                   | CUSIP: 544532CV4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    520000 | PA      | $543923.12    | 0.09%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SVK7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003989.00   | 0.16%             | 2038-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SSH8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1146393.92   | 0.19%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Inland Valley Development Agency                                                                          | Inland Valley Development Agency                                                                          | CUSIP: 45750TAA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007708.90   | 0.16%             | 2037-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022229.60   | 0.17%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                                                | Southern California Public Power Authority                                                                | CUSIP: 842469CK2<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001551.60   | 0.16%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Compton CA Water Revenue                                                                          | City of Compton CA Water Revenue                                                                          | CUSIP: 204744AK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1275341.63   | 0.21%             | 2039-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Port of Los Angeles                                                                                       | Port of Los Angeles                                                                                       | CUSIP: 544552C42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543279.15    | 0.09%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Poway Unified School District                                                                             | Poway Unified School District                                                                             | CUSIP: 738850RB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2579208.40   | 0.42%             | 2036-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    429016 | PA      | $365221.06    | 0.06%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 130536KL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1201318.80   | 0.20%             | 2027-12-01      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                               | California Educational Facilities Authority                                                               | CUSIP: 130178X76<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4645000 | PA      | $5140855.61   | 0.84%             | 2043-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                                                     | California Infrastructure & Economic Development Bank                                                     | CUSIP: 13034RAS2<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1174302.67   | 0.19%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R Energy Authority                                                                                    | M-S-R Energy Authority                                                                                    | CUSIP: 55374SAG5<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1790000 | PA      | $1874494.80   | 0.31%             | 2029-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13049YEA5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5114422.50   | 0.83%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    446171 | PA      | $364749.97    | 0.06%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                               | California Educational Facilities Authority                                                               | CUSIP: 130179EV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003437.30   | 0.16%             | 2036-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport                              | San Francisco City & County Airport Comm-San Francisco International Airport                              | CUSIP: 79766DLV9<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029079.30   | 0.17%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside County Public Financing Authority                                                               | Riverside County Public Financing Authority                                                               | CUSIP: 76912TKM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1508910.75   | 0.25%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SWM2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    375000 | PA      | $379604.59    | 0.06%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chino Valley Unified School District                                                                      | Chino Valley Unified School District                                                                      | CUSIP: 169583FU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2050422.60   | 0.33%             | 2047-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032UUW6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10710633.00  | 1.75%             | 2041-06-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                                                   | Bay Area Toll Authority                                                                                   | CUSIP: 072024A85<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055333.40   | 0.17%             | 2043-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                                           | California Community Choice Financing Authority                                                           | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2249181.25   | 0.37%             | 2052-02-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13049YDZ1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    600000 | PA      | $614654.40    | 0.10%             | 2043-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                                       | State of California                                                                                       | CUSIP: 13063DD88<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5075000 | PA      | $5390482.81   | 0.88%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of Guam                                                                                    | Port Authority of Guam                                                                                    | CUSIP: 400652AA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $987974.10    | 0.16%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 74528LAA9<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |   5550000 | PA      | $6204180.72   | 1.01%             | 2045-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SEV2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3501399.30   | 0.57%             | 2034-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 130536QR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $619175.46    | 0.10%             | 2025-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| California Statewide Financing Authority                                                                  | California Statewide Financing Authority                                                                  | CUSIP: 130923AR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2055038.90   | 0.33%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                                       | State of California                                                                                       | CUSIP: 13062TH72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5590135.00   | 0.91%             | 2032-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Riverside County Transportation Commission                                                                | Riverside County Transportation Commission                                                                | CUSIP: 76912DAZ1<br>LEI: 5493003G0IESJS57M350 | Long             | DBT              | MUN               | US        |   3460000 | PA      | $3134595.65   | 0.51%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Oakland Unified School District/Alameda County                                                            | Oakland Unified School District/Alameda County                                                            | CUSIP: 672325XT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3415691.34   | 0.56%             | 2040-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                                                  | Golden State Tobacco Securitization Corp                                                                  | CUSIP: 38122NZC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5198741.00   | 0.85%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alameda Corridor Transportation Authority                                                                 | Alameda Corridor Transportation Authority                                                                 | CUSIP: 010869GZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5270000 | PA      | $5333588.87   | 0.87%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048VLB2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000928.20   | 0.16%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                                                   | Los Angeles Department of Water & Power                                                                   | CUSIP: 544532BR4<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.05%             | 2051-07-01      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001559.60   | 0.33%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                                                       | California School Finance Authority                                                                       | CUSIP: 13059TFG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008837.50   | 0.16%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norco Community Redevelopment Agency Successor Agency                                                     | Norco Community Redevelopment Agency Successor Agency                                                     | CUSIP: 655505AL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    895000 | PA      | $896613.24    | 0.15%             | 2032-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                               | California Educational Facilities Authority                                                               | CUSIP: 130179XC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $2043666.00   | 0.33%             | 2055-03-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Sacramento CA Airport System Revenue                                                            | County of Sacramento CA Airport System Revenue                                                            | CUSIP: 786107RW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2025836.60   | 0.33%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    451405 | PA      | $460254.48    | 0.08%             | 2027-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048RAG2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3734961.60   | 0.61%             | 2044-10-01      | Variable      | 2.40%                 | No            |                  2 | On Loan: No      |
| University of California                                                                                  | University of California                                                                                  | CUSIP: 91412HJA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3365000 | PA      | $3395015.46   | 0.55%             | 2037-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SWL4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    650000 | PA      | $610389.91    | 0.10%             | 2029-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Alameda Corridor Transportation Authority                                                                 | Alameda Corridor Transportation Authority                                                                 | CUSIP: 010869JM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $998411.93    | 0.16%             | 2047-10-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050696.30   | 0.17%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Association of Governments South Bay Expressway Revenue                                         | San Diego Association of Governments South Bay Expressway Revenue                                         | CUSIP: 797257AU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1542642.75   | 0.25%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Joaquin Valley Clean Energy Authority                                                                 | San Joaquin Valley Clean Energy Authority                                                                 | CUSIP: 79811YAK4<br>LEI: 254900VA5DFN33OVGH87 | Long             | DBT              | MUN               | US        |   4685000 | PA      | $5144926.45   | 0.84%             | 2056-01-01      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| La Verne Public Financing Authority                                                                       | La Verne Public Financing Authority                                                                       | CUSIP: 505207AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200585.82    | 0.03%             | 2026-09-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                                | City of Los Angeles Department of Airports                                                                | CUSIP: 544445J83<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $422336.16    | 0.07%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036497.80   | 0.17%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                                                       | California School Finance Authority                                                                       | CUSIP: 13059TBY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1926497.07   | 0.31%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Richmond Joint Powers Financing Authority                                                                 | Richmond Joint Powers Financing Authority                                                                 | CUSIP: 764440JV6<br>LEI: 549300O54N3JTBY74Q35 | Long             | DBT              | MUN               | US        |   3660000 | PA      | $3828450.04   | 0.62%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YNX9<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    940000 | PA      | $943399.42    | 0.15%             | 2048-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                            | Tender Option Bond Trust Receipts/Certificates                                                            | CUSIP: 88035EF24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1926468.31   | 0.31%             | 2042-07-01      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                                           | California Community Choice Financing Authority                                                           | CUSIP: 13013JDB9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5239588.00   | 0.85%             | 2054-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                                                               | California State University                                                                               | CUSIP: 13077DAW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2044350.60   | 0.33%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water District of Southern California                                                        | Metropolitan Water District of Southern California                                                        | CUSIP: 59266TSR3<br>LEI: 5493003GD0S0P56RLT45 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5306919.00   | 0.86%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                                                     | California Infrastructure & Economic Development Bank                                                     | CUSIP: 13034RAR4<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1225164.63   | 0.20%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Beverly Hills Unified School District CA                                                                  | Beverly Hills Unified School District CA                                                                  | CUSIP: 088023MX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2230000 | PA      | $1779901.26   | 0.29%             | 2044-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YPP4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    600000 | PA      | $603279.66    | 0.10%             | 2049-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rialto Redevelopment Agency                                                                               | Rialto Redevelopment Agency                                                                               | CUSIP: 76246PCV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036307.40   | 0.17%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                                                         | California Housing Finance Agency                                                                         | CUSIP: 13033DAE5<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   9277241 | PA      | $8822560.31   | 1.44%             | 2035-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Alameda Community Improvement Commission Successor Agency                                                 | Alameda Community Improvement Commission Successor Agency                                                 | CUSIP: 010775AG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003444.40   | 0.16%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                                           | California Community Choice Financing Authority                                                           | CUSIP: 13013JEP7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5266976.00   | 0.86%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YQG3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1425000 | PA      | $1427144.91   | 0.23%             | 2044-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 74528LAF8<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |   3420000 | PA      | $3803426.80   | 0.62%             | 2041-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corp                                                         | Matching Fund Special Purpose Securitization Corp                                                         | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4200827.50   | 0.68%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                                               | San Diego County Regional Airport Authority                                                               | CUSIP: 79739GLC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10815000 | PA      | $10794680.78  | 1.76%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue                                | Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue                                | CUSIP: 54466HKS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1695000 | PA      | $1832981.48   | 0.30%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                                                    | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                                                    | CUSIP: 74529JPU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2888000 | PA      | $2831279.68   | 0.46%             | 2034-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SWP5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1804216.05   | 0.29%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048VBV9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8046225.60   | 1.31%             | 2036-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SMJ0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   4040000 | PA      | $4047756.40   | 0.66%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water District of Southern California                                                        | Metropolitan Water District of Southern California                                                        | CUSIP: 59266TXM8<br>LEI: 5493003GD0S0P56RLT45 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055252.50   | 0.17%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SGU2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1883397.19   | 0.31%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                            | Tender Option Bond Trust Receipts/Certificates                                                            | CUSIP: 88035MJY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1244790.26   | 0.20%             | 2055-05-01      | Variable      | 7.35%                 | No            |                  2 | On Loan: No      |
| Sacramento Municipal Utility District                                                                     | Sacramento Municipal Utility District                                                                     | CUSIP: 786005K49<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066834.80   | 0.17%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    526366 | PA      | $352724.44    | 0.06%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13050RAA0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   8310000 | PA      | $8043213.27   | 1.31%             | 2029-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                                                    | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                                                    | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1909562.60   | 0.31%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 130536QV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  11380000 | PA      | $11317307.58  | 1.84%             | 2025-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                                       | State of California                                                                                       | CUSIP: 13063EMD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2217825.00   | 0.36%             | 2038-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside County Transportation Commission                                                                | Riverside County Transportation Commission                                                                | CUSIP: 76912DAU2<br>LEI: 5493003G0IESJS57M350 | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1843815.19   | 0.30%             | 2037-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                                | City of Los Angeles Department of Airports                                                                | CUSIP: 5444457R4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $894442.56    | 0.15%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of California                                                                                       | State of California                                                                                       | CUSIP: 13063CC40<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5085098.50   | 0.83%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                                           | California Community Choice Financing Authority                                                           | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3150000 | PA      | $3143430.05   | 0.51%             | 2053-05-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                                | City of Los Angeles Department of Airports                                                                | CUSIP: 544445YH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    720000 | PA      | $523349.14    | 0.09%             | 2049-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048VKZ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2150000 | PA      | $2050791.05   | 0.33%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    315541 | PA      | $289254.51    | 0.05%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YQE8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029891.20   | 0.17%             | 2034-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Travis Unified School District                                                                            | Travis Unified School District                                                                            | CUSIP: 894375DN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007118.30   | 0.16%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Long Beach CA Airport System Revenue                                                              | City of Long Beach CA Airport System Revenue                                                              | CUSIP: 542403DR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3691143.36   | 0.60%             | 2047-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                                           | California County Tobacco Securitization Agency                                                           | CUSIP: 13016NEZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1281948.53   | 0.21%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                                                   | Los Angeles Department of Water & Power                                                                   | CUSIP: 544495DL5<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |     80000 | PA      | $80000.00     | 0.01%             | 2034-07-01      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080STJ3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1678354.38   | 0.27%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Port of Los Angeles                                                                                       | Port of Los Angeles                                                                                       | CUSIP: 544552C59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3465000 | PA      | $3774493.45   | 0.62%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                                                  | Golden State Tobacco Securitization Corp                                                                  | CUSIP: 38122NZA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021082.30   | 0.17%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                                                      | Guam Government Waterworks Authority                                                                      | CUSIP: 40065FDE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7890000 | PA      | $7910214.18   | 1.29%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Bond Finance Authority                                                                         | Long Beach Bond Finance Authority                                                                         | CUSIP: 54241AAY9<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |   3485000 | PA      | $3676787.22   | 0.60%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Housing Authority Inc                                                                           | San Diego Housing Authority Inc                                                                           | CUSIP: 79728FLL3<br>LEI: 549300X9H1ODNOOT1Q87 | Long             | DBT              | MUN               | US        |   3205000 | PA      | $3099322.18   | 0.51%             | 2040-06-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YQU2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021458.30   | 0.17%             | 2040-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                            | Tender Option Bond Trust Receipts/Certificates                                                            | CUSIP: 88035G8P6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1810534.42   | 0.30%             | 2055-08-01      | Variable      | 7.49%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 74528LAC5<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3633078.80   | 0.59%             | 2045-01-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAV9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $589647.96    | 0.10%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| M-S-R Energy Authority                                                                                    | M-S-R Energy Authority                                                                                    | CUSIP: 55374SAD2<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1570805.70   | 0.26%             | 2029-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Santa Monica-Malibu Unified School District                                                               | Santa Monica-Malibu Unified School District                                                               | CUSIP: 802498XH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2340000 | PA      | $2276598.40   | 0.37%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                                                       | California Public Finance Authority                                                                       | CUSIP: 13057GAP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17135000 | PA      | $16003445.72  | 2.61%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| County of Sacramento CA Airport System Revenue                                                            | County of Sacramento CA Airport System Revenue                                                            | CUSIP: 786107PE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1362655.31   | 0.22%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SWN0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    475000 | PA      | $470928.68    | 0.08%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048V2U1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1940000 | PA      | $1924040.98   | 0.31%             | 2054-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                                           | California Community Choice Financing Authority                                                           | CUSIP: 13013JFR2<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5288961.00   | 0.86%             | 2055-02-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Bond Finance Authority                                                                         | Long Beach Bond Finance Authority                                                                         | CUSIP: 54241AAX1<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1098713.35   | 0.18%             | 2032-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YMG7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3063547.80   | 0.50%             | 2038-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                               | California Educational Facilities Authority                                                               | CUSIP: 130179SD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3233202.90   | 0.53%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8500000 | PA      | $8626611.75   | 1.41%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Financing Authority                                                                  | California Statewide Financing Authority                                                                  | CUSIP: 130923BH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1550000 | PA      | $1584883.06   | 0.26%             | 2043-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032UJD1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2757605.85   | 0.45%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alameda Corridor Transportation Authority                                                                 | Alameda Corridor Transportation Authority                                                                 | CUSIP: 010869MK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1069263.20   | 0.17%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                                                        | Norman Y Mineta San Jose International Airport SJC                                                        | CUSIP: 798136VU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5989254.60   | 0.98%             | 2047-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                                                     | California Infrastructure & Economic Development Bank                                                     | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |  14000000 | PA      | $13512812.60  | 2.20%             | 2065-01-01      | Variable      | 9.50%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032URP5<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2785000 | PA      | $2798924.44   | 0.46%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SVL5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3825000 | PA      | $3835292.31   | 0.63%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alameda Unified School District-Alameda County/CA                                                         | Alameda Unified School District-Alameda County/CA                                                         | CUSIP: 010824JU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1802072.30   | 0.29%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Compton Public Finance Authority                                                                          | Compton Public Finance Authority                                                                          | CUSIP: 204726AG8<br>LEI: 549300WUETJKEL0LJQ58 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $7927555.20   | 1.29%             | 2032-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080SMH4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5033283.50   | 0.82%             | 2036-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Invesco California AMT-Free Municipal Bond ETF                                                            | Invesco California AMT-Free Municipal Bond ETF                                                            | CUSIP: 46138E206<br>LEI: 549300M4U7LQNGAVRJ41 | Long             | EC               | RF                | US        |       500 | NS      | $11760.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YQD0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003832.80   | 0.16%             | 2029-09-02      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                                                        | Norman Y Mineta San Jose International Airport SJC                                                        | CUSIP: 798136WT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1509472.95   | 0.25%             | 2047-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048RAM9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1702417.74   | 0.28%             | 2053-09-01      | Variable      | 4.38%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center Pooled Revenue                                     | Regents of the University of California Medical Center Pooled Revenue                                     | CUSIP: 913366HH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4540000 | PA      | $4595884.22   | 0.75%             | 2035-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Luis Obispo County Financing Authority                                                                | San Luis Obispo County Financing Authority                                                                | CUSIP: 798693CX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001131.20   | 0.16%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 130483GQ7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4900000 | PA      | $4878706.07   | 0.80%             | 2042-12-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                                           | California Community Choice Financing Authority                                                           | CUSIP: 13013JAX4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1115038.69   | 0.18%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Port of Los Angeles                                                                                       | Port of Los Angeles                                                                                       | CUSIP: 544552C75<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $537751.35    | 0.09%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                                | City of Los Angeles Department of Airports                                                                | CUSIP: 5444357N4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500803.25   | 0.24%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Public Works Financing Authority                                                       | Los Angeles County Public Works Financing Authority                                                       | CUSIP: 54473ESQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003563.60   | 0.33%             | 2033-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                            | Tender Option Bond Trust Receipts/Certificates                                                            | CUSIP: 88034M3A2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4480000 | PA      | $4565098.76   | 0.74%             | 2044-05-15      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport                              | San Francisco City & County Airport Comm-San Francisco International Airport                              | CUSIP: 79766DFU8<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017437.40   | 0.17%             | 2031-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                               | California Educational Facilities Authority                                                               | CUSIP: 1301783W4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9550000 | PA      | $10429849.14  | 1.70%             | 2045-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign                                                | Burbank-Glendale-Pasadena Airport Authority Brick Campaign                                                | CUSIP: 120827DY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1514763.61   | 0.25%             | 2040-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 13054WAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2507405.25   | 0.41%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                                                   | Bay Area Toll Authority                                                                                   | CUSIP: 072024A77<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1060160.00   | 0.17%             | 2042-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                               | California Educational Facilities Authority                                                               | CUSIP: 130179TN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7015000 | PA      | $7539277.95   | 1.23%             | 2051-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3F2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    227450 | PA      | $227825.72    | 0.04%             | 2025-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                                                               | Commonwealth of Puerto Rico                                                                               | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    444081 | PA      | $461592.27    | 0.08%             | 2029-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| San Luis Obispo County Financing Authority                                                                | San Luis Obispo County Financing Authority                                                                | CUSIP: 798693EB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002134.00   | 0.16%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nuveen California AMT-Free Quality Municipal Income Fund                                                  | Nuveen California AMT-Free Quality Municipal Income Fund                                                  | CUSIP: 670651868<br>LEI: 5493005SR7RRUAG9VK19 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200000.00   | 0.20%             | 2047-10-01      | Variable      | 4.07%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue                                | Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue                                | CUSIP: 54466HMQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $1061540.06   | 0.17%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                                                  | Golden State Tobacco Securitization Corp                                                                  | CUSIP: 38122ND90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10035000 | PA      | $10045718.38  | 1.64%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Merced Union High School District                                                                         | Merced Union High School District                                                                         | CUSIP: 587635ET6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3380000 | PA      | $2599665.48   | 0.42%             | 2032-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Securitization Authority of Southern California                                                   | Tobacco Securitization Authority of Southern California                                                   | CUSIP: 888804CL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1549371.75   | 0.25%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Woodland-Davis Clean Water Agency                                                                         | Woodland-Davis Clean Water Agency                                                                         | CUSIP: 979585AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1511220.00   | 0.25%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Educational Facilities Authority                                                               | California Educational Facilities Authority                                                               | CUSIP: 130179EU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002302.10   | 0.16%             | 2045-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Escondido Union High School District                                                                      | Escondido Union High School District                                                                      | CUSIP: 296353LY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $482230.30    | 0.08%             | 2041-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13049YBB6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1034021.90   | 0.17%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                                            | Tender Option Bond Trust Receipts/Certificates                                                            | CUSIP: 88034YTB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3075000 | PA      | $3458576.64   | 0.56%             | 2036-05-15      | Variable      | 7.14%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032UU63<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2155000 | PA      | $2201577.74   | 0.36%             | 2043-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority | CUSIP: 74528LAB7<br>LEI: 549300YJRISCG6HQ4512 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3617155.75   | 0.59%             | 2042-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Foothill-Eastern Transportation Corridor Agency                                                           | Foothill-Eastern Transportation Corridor Agency                                                           | CUSIP: 345105JH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $5724370.80   | 0.93%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                                               | San Diego County Regional Airport Authority                                                               | CUSIP: 79739GGN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5030000 | PA      | $5045485.86   | 0.82%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13049YBC4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030625.50   | 0.17%             | 2034-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Irvine CA                                                                                         | City of Irvine CA                                                                                         | CUSIP: 46360RE86<br>LEI: 549300PJ9FL2XGFR8J79 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978914.10    | 0.16%             | 2038-09-02      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                                                    | Los Angeles Unified School District/CA                                                                    | CUSIP: 544647HQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5638442.50   | 0.92%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13049YBG5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2039675.80   | 0.33%             | 2038-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Ramon Valley Fire Protection District                                                                 | San Ramon Valley Fire Protection District                                                                 | CUSIP: 799400ED4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $622463.64    | 0.10%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078RHW3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2963299.80   | 0.48%             | 2036-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                                | City of Los Angeles Department of Airports                                                                | CUSIP: 544445JB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1875000 | PA      | $1967124.75   | 0.32%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048V2T4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1731195.51   | 0.28%             | 2049-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento Area Flood Control Agency                                                                      | Sacramento Area Flood Control Agency                                                                      | CUSIP: 785840JK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2047791.60   | 0.33%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                                               | San Diego County Regional Airport Authority                                                               | CUSIP: 79739GLD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2084998.60   | 0.34%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                                                    | Los Angeles Unified School District/CA                                                                    | CUSIP: 5446466W7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9050000 | PA      | $9290200.58   | 1.51%             | 2042-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority                                                                | Southern California Public Power Authority                                                                | CUSIP: 842471AX2<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   4725000 | PA      | $4857634.53   | 0.79%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                                                | City of Los Angeles Department of Airports                                                                | CUSIP: 544445NQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5120599.50   | 0.83%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YNV3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    945000 | PA      | $966384.50    | 0.16%             | 2039-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13032UMP0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   3375000 | PA      | $3585100.84   | 0.58%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048RAN7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   5085000 | PA      | $5086563.64   | 0.83%             | 2041-11-01      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078RGJ3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3840000 | PA      | $3845633.66   | 0.63%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                                                    | California Municipal Finance Authority                                                                    | CUSIP: 13048VBU1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   7550000 | PA      | $7607749.95   | 1.24%             | 2034-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carlsbad Unified School District                                                                          | Carlsbad Unified School District                                                                          | CUSIP: 142665HT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $467436.80    | 0.08%             | 2050-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13078YPW9<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    900000 | PA      | $928676.88    | 0.15%             | 2039-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indio Redevelopment Agency Successor Agency                                                               | Indio Redevelopment Agency Successor Agency                                                               | CUSIP: 455719CP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $295730.07    | 0.05%             | 2035-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                                          | California Health Facilities Financing Authority                                                          | CUSIP: 13033L8L4<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000912.40   | 0.33%             | 2035-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                                                    | California Statewide Communities Development Authority                                                    | CUSIP: 13080ST53<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1451185.65   | 0.24%             | 2044-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Diego Association of Governments South Bay Expressway Revenue                                         | San Diego Association of Governments South Bay Expressway Revenue                                         | CUSIP: 797257AV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2361113.76   | 0.38%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Sanitation Districts Financing Authority                                               | Los Angeles County Sanitation Districts Financing Authority                                               | CUSIP: 545149JQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4521485.25   | 0.74%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                                          | California Pollution Control Financing Authority                                                          | CUSIP: 130536QT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3601883.88   | 0.59%             | 2040-07-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                                                         | California Housing Finance Agency                                                                         | CUSIP: 13033DAA3<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   8178400 | PA      | $8163847.83   | 1.33%             | 2035-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Port Commission of the City & County of San Francisco                                                     | Port Commission of the City & County of San Francisco                                                     | CUSIP: 797679BB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $970369.00    | 0.16%             | 2035-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-29

**Name of Applicant:** Principal Funds, Inc

**Signature:** Megan Hoffmann

**Name of Signer:** /s/ Megan Hoffmann

**Title:** Vice President and Controller