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        <name>VIRGINIA SMALL BUSINESS FING AUTH HOSP R</name>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>EUREKA CITY SCHOOLS</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK</name>
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        <name>CALIFORNIA HOUSING FINANCE AGENCY</name>
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        <name>RIVERSIDE COUNTY TRANSPORTATION COMMISSION</name>
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      <invstOrSec>
        <name>CITY OF LOS ANGELES DEPARTMENT OF AIRPORTS</name>
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      <invstOrSec>
        <name>ALAMEDA CORRIDOR TRANSPORTATION AUTHORITY</name>
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        <name>CITY OF FREMONT CA COMMUNITY FACILITIES DISTRICT NO 1</name>
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        <curCd>USD</curCd>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <name>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</name>
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        <name>CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY</name>
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        <name>CALIFORNIA STATE PUBLIC WORKS BOARD</name>
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        <name>VIRGINIA SMALL BUSINESS FING AUTH HOSP R</name>
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        <name>ANTELOPE VALLEY COMMUNITY COLLEGE DISTRICT</name>
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      <invstOrSec>
        <name>CHILDRENS TRUST FD TOBACCO SETTLMNT</name>
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      <invstOrSec>
        <name>AFFORDABLE HOUSING OPPORTUNITIES TRUST SERIES AH-01</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY</name>
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      <invstOrSec>
        <name>BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY</name>
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        <name>CORONA-NORCA UNIFIED SCHOOL DI</name>
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        <name>CHINO VALLEY UNIFIED SCHOOL DISTRICT</name>
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        <name>CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY</name>
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      <invstOrSec>
        <name>HACIENDA LA PUENTE CALIF UNI  SCH DIST</name>
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        <name>FOLSOM CORDOVA UNIFIED SCHOOL DISTRICT</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>FONTANA UNIFIED SCHOOL DISTRICT</name>
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        <name>RIVER ISLANDS PUBLIC FINANCING AUTHORITY</name>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <name>CHINO VALLEY UNIFIED SCHOOL DISTRICT</name>
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        <name>POWAY UNIFIED SCHOOL DISTRICT</name>
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        <name>CALIFORNIA SCHOOL FINANCE AUTHORITY</name>
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        <name>CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY</name>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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      <invstOrSec>
        <name>REGENTS OF THE UNIVERSITY OF CALIFORNIA MEDICAL CENTER POOLED REVENUE</name>
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        <name>CSCDA COMMUNITY IMPROVEMENT AUTHORITY</name>
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        <name>CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY</name>
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        <name>MANTECA UNIFIED SCHOOL DISTRICT</name>
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        <name>CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY</name>
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        <name>PACIFICA SCHOOL DISTRICT</name>
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        <name>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</name>
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        <name>M-S-R ENERGY AUTHORITY</name>
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      <invstOrSec>
        <name>WASHINGTON TOWNSHIP HEALTHCARE DISTRICT</name>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</name>
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      <invstOrSec>
        <name>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</name>
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      <invstOrSec>
        <name>CITY OF SACRAMENTO CA</name>
        <lei>N/A</lei>
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          <isin value="US786071RC62"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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      <invstOrSec>
        <name>CLOVIS UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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          <isin value="US189342V473"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      <invstOrSec>
        <name>ANGELINA &amp; NECHES RIVER AUTHORITY</name>
        <lei>N/A</lei>
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          <isin value="US03469KAB98"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>ALAMEDA CORRIDOR TRANSPORTATION AUTHORITY</name>
        <lei>N/A</lei>
        <title>ALAMEDA CA CORRIDOR TRANSPRTN ALATRN 10/49 INT APROID VAR</title>
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          <isin value="US010869JP19"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK</name>
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        <assetCat>DBT</assetCat>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <curCd>USD</curCd>
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        <name>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</name>
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        <title>CALIFORNIA ST HLTH FACS FING A CASMED 08/48 FIXED 4</title>
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        <name>GLENDALE CALIF CMNTY COLLEGE DIST</name>
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        <name>CALIFORNIA HOUSING FINANCE AGENCY</name>
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        <name>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</name>
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        <title>CALIFORNIA ST HLTH FACS FING A CASMED 08/45 FIXED 5</title>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <title>CALIFORNIA ST MUNI FIN AUTH 09/49 5</title>
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        <name>CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY</name>
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        <name>CALIFORNIA HEALTH FACILITIES FINANCING AUTHORITY</name>
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      <invstOrSec>
        <name>RIO HONDO CALIF CMNTY COLLEGE DIST</name>
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          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>UNIVERSITY OF CALIFORNIA</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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      <invstOrSec>
        <name>FHLMC PASS THRU POOLS</name>
        <lei>N/A</lei>
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        <cusip>3132Y7GR0</cusip>
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        <curCd>USD</curCd>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST EDUCTNL FACS AUT CASEDU 10/39 FIXED OID 4</title>
        <cusip>130179RH9</cusip>
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          <isin value="US130179RH93"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ANAHEIM CITY SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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          <annualizedRt>4.25</annualizedRt>
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      <invstOrSec>
        <name>ONTARIO INTERNATIONAL AIRPORT AUTHORITY</name>
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      <invstOrSec>
        <name>FHLMC PASS THRU POOLS</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>LONG BEACH BOND FINANCE AUTHORITY</name>
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        <cusip>54241AAZ6</cusip>
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      <invstOrSec>
        <name>RANCHO CORDOVA CITY OF</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <name>TOBACCO SECURITIZATION AUTH SOUTHN CAL T</name>
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        <name>CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY</name>
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        <name>CHILDRENS TRUST FD TOBACCO SETTLMNT</name>
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        <cusip>16876QBL2</cusip>
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        <invCountry>PR</invCountry>
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          <couponKind>None</couponKind>
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        <name>RIVER ISLANDS PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN DIEGO UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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        <name>FREDDIE MAC MULTIFAMILY ML CERTIFICATES</name>
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        <title>FEDERAL HOME LN MTG CORP 11/38 1</title>
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        <name>PUERTO RICO GOVT</name>
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        <name>CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY</name>
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        <title>CALIFORNIA CMNTY CHOICE FING A CCEDEV 11/54 ADJUSTABLE VAR</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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          <couponKind>Variable</couponKind>
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        <name>CALIFORNIA HOUSING FINANCE AGENCY</name>
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        <name>CMFA SPECIAL FINANCE AGENCY VII</name>
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        <name>ANGELINA &amp; NECHES RIVER AUTHORITY</name>
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        <name>CHINO VALLEY UNIFIED SCHOOL DISTRICT</name>
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        <name>CALIFORNIA SCHOOL FINANCE AUTHORITY</name>
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        <name>ORANGE COUNTY COMMUNITY FACILITIES DISTRICT</name>
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        <name>CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY</name>
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        <name>SAN DIEGO UNIFIED SCHOOL DISTRICT</name>
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        <name>CALIFORNIA HOUSING FINANCE AGENCY</name>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <assetCat>DBT</assetCat>
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          <annualizedRt>4</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA STATE UNIVERSITY</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CHINO VALLEY UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CALIFORNIA STATE</name>
        <lei>9845007J7054602FF597</lei>
        <title>CALIFORNIA ST CAS 11/47 FIXED 4</title>
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          <isin value="US13063DAZ15"/>
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        <balance>7500000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA COMMUNITY CHOICE FINANCING AUTHORITY</name>
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        <title>CALIFORNIA CMNTY CHOICE FING A CCEDEV 10/55 ADJUSTABLE VAR</title>
        <cusip>13013JGR1</cusip>
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          <isin value="US13013JGR14"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5</annualizedRt>
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      <invstOrSec>
        <name>FRESNO UNIFIED SCHOOL DISTRICT EDUCATIONAL FACILITIES CORPORATION</name>
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          <isin value="US3582324A17"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY</name>
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        <cusip>13080STJ3</cusip>
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          <isin value="US13080STJ32"/>
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        <balance>2850000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CHINO VALLEY UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
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        <balance>1750000.000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0</annualizedRt>
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      <invstOrSec>
        <name>CITY &amp; COUNTY OF SAN FRANCISCO CA</name>
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        <title>SAN FRANCISCO CITY   CNTY CA M SFOMFH 02/46 FIXED 5</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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      <invstOrSec>
        <name>CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY</name>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALIFORNIA STATE UNIVERSITY</name>
        <lei>N/A</lei>
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        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
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        <name>IRVINE FACILITIES FINANCING AUTHORITY</name>
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      <invstOrSec>
        <name>CALIFORNIA STATE</name>
        <lei>9845007J7054602FF597</lei>
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      <invstOrSec>
        <name>LOCAL PUBLIC SCHOOLS FUNDING AUTHORITY SCHOOL IMPROVEMENT DISTRICT NO 2016-1</name>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA HOUSING FINANCE AGENCY</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.5</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <name>PUERTO RICO SALES TAX FINANCING CORP SALES TAX REVENUE</name>
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      <invstOrSec>
        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH SC CASFAC 05/59 FIXED 5.875</title>
        <cusip>13051BAD8</cusip>
        <identifiers>
          <isin value="US13051BAD82"/>
        </identifiers>
        <balance>390000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>393833.230000</valUSD>
        <pctVal>0.0706854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EL MONTE CALIF CTFS PARTN</name>
        <lei>549300079T82S1QZWG33</lei>
        <title>EL MONTE CA COPS EMNCTF 01/34 FIXED 5.25</title>
        <cusip>283307BT2</cusip>
        <identifiers>
          <isin value="US283307BT24"/>
        </identifiers>
        <balance>7530000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7543599.180000</valUSD>
        <pctVal>1.35393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RIVER ISLANDS PUBLIC FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>RIVER ISLANDS CA PUBLIC FING A RVIGEN 09/45 FIXED OID 4.75</title>
        <cusip>76827QMR1</cusip>
        <identifiers>
          <isin value="US76827QMR10"/>
        </identifiers>
        <balance>3405000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3369057.840000</valUSD>
        <pctVal>0.60468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA COUNTY TOBACCO SECURITIZATION AGENCY</name>
        <lei>N/A</lei>
        <title>CALIFORNIA CNTY CA TOBACCO SEC CASGEN 06/42 FIXED OID 6</title>
        <cusip>13016NBY9</cusip>
        <identifiers>
          <isin value="US13016NBY94"/>
        </identifiers>
        <balance>5985000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6029878.520000</valUSD>
        <pctVal>1.08225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FONTANA UNIFIED SCHOOL DISTRICT</name>
        <lei>N/A</lei>
        <title>FONTANA CA UNIF SCH DIST FONSCD 08/43 FIXED 5</title>
        <cusip>344640YA9</cusip>
        <identifiers>
          <isin value="US344640YA99"/>
        </identifiers>
        <balance>1595000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1776564.910000</valUSD>
        <pctVal>0.318859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA HOUSING FINANCE AGENCY</name>
        <lei>549300BOPCVLBA552Z14</lei>
        <title>CALIFORNIA HOUSING FNANCE AGCY TE CONSTRUCTION</title>
        <cusip>BA000QZT8</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="WHLNJA9Q7"/>
        </identifiers>
        <balance>1922732.200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1923004.790000</valUSD>
        <pctVal>0.345142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.2192</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PALM SPRINGS UNIFIED SCHOOL DISTRICT</name>
        <lei>549300VO66CCEHGE5291</lei>
        <title>PALM SPRINGS CA UNIF SCH DIST PSPSCD 08/49 FIXED OID 4</title>
        <cusip>6966676Z2</cusip>
        <identifiers>
          <isin value="US6966676Z22"/>
        </identifiers>
        <balance>4000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3861542.400000</valUSD>
        <pctVal>0.693071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY</name>
        <lei>N/A</lei>
        <title>CALIFORNIA ST EDUCTNL FACS AUT CASEDU 04/45 FIXED 5</title>
        <cusip>130179XA7</cusip>
        <identifiers>
          <isin value="US130179XA76"/>
        </identifiers>
        <balance>1050000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1124087.790000</valUSD>
        <pctVal>0.201752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAN FRANCISCO CITY &amp; COUNTY AIRPORT COMM-SAN FRANCISCO INTERNATIONAL AIRPORT</name>
        <lei>54930055TIDYHNDP4F84</lei>
        <title>SAN FRANCISCO CA CITY  CNTY AR SFOAPT 05/46 FIXED 5</title>
        <cusip>79766DGF0</cusip>
        <identifiers>
          <isin value="US79766DGF06"/>
        </identifiers>
        <balance>6000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6002318.400000</valUSD>
        <pctVal>1.0773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CORONA COMMUNITY FACILITIES DISTRICT</name>
        <lei>N/A</lei>
        <title>CORONA CA CMNTY FACS DIST SPL COOFAC 09/44 FIXED 5</title>
        <cusip>219680HD0</cusip>
        <identifiers>
          <isin value="US219680HD01"/>
        </identifiers>
        <balance>725000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>746737.020000</valUSD>
        <pctVal>0.134025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARTNELL CALIF CMNTY COLLEGE DIST</name>
        <lei>N/A</lei>
        <title>HARTNELL CA CMNTY CLG DIST HARHGR 08/42 FIXED 4</title>
        <cusip>417123FT8</cusip>
        <identifiers>
          <isin value="US417123FT83"/>
        </identifiers>
        <balance>8050000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8057101.710000</valUSD>
        <pctVal>1.44609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW YORK LIBERTY DEVELOPMENT CORPORATION</name>
        <lei>N/A</lei>
        <title>LIBERTY DEV CORP NY REVENUE LBTDEV 10/35 FIXED 5.25</title>
        <cusip>531127AC2</cusip>
        <identifiers>
          <isin value="US531127AC24"/>
        </identifiers>
        <balance>1250000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1462682.000000</valUSD>
        <pctVal>0.262523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DENTON ESSENTIAL INVESTMENTS PFC</name>
        <lei>N/A</lei>
        <title>BONNIE BRAE FIXED TERM LOAN</title>
        <cusip>BA000PLR9</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="24881CAA5"/>
        </identifiers>
        <balance>4400000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4462480.000000</valUSD>
        <pctVal>0.800928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2059-06-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.215</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CALIFORNIA MUNICIPAL FINANCE AUTHORITY</name>
        <lei>5493000UQOV6R4ZWS346</lei>
        <title>CALIFORNIA ST MUNI FIN AUTH RE CASFIN 01/39 FIXED 6</title>
        <cusip>13048VQ27</cusip>
        <identifiers>
          <isin value="US13048VQ279"/>
        </identifiers>
        <balance>6000000.000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6261337.800000</valUSD>
        <pctVal>1.12379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Total returns do not deduct sales loads and redemption fees." noteItem="B.5.a"/>

      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.c.vi"/>
      <explntrNote note="A negative balance, which may be due to such circumstances as a net overdraft as of the reporting period-end, is reported as $0 in Item B.2.f - Cash and cash equivalents not reported in Parts C and D.  This is done in order to conform to the technical constraints of the XML type, which do not allow negative values in B.2.f." noteItem="B.2.f"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.d.iii"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.e.iii"/>
      <explntrNote note="The form requires the filer to report ISO country codes and certain supranational entities are not on the ISO country code list.  Instruments issued by or economic exposure to a supranational entity may be disclosed as N/A." noteItem="C.5.a"/>
      <explntrNote note="To the extent an instrument's maturity date, termination date, expiration date, or settlement date does not exist or is not available as of period end, and is required for reporting, the registrant will disclose 12/31/2500." noteItem="C.11.f.ii"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-02-27</ncom:dateSigned>
      <ncom:nameOfApplicant>PIMCO California Municipal Income Fund</ncom:nameOfApplicant>
      <ncom:signature>/s/ Bijal Parikh</ncom:signature>
      <ncom:signerName>Bijal Parikh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
