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        <name>Perris Joint Powers Authority</name>
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      <invstOrSec>
        <name>Irvine Ranch Water District Water Service Corp.</name>
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      <invstOrSec>
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        <name>San Diego County Regional Airport Authority</name>
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      <invstOrSec>
        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RNR School Financing Authority</name>
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      <invstOrSec>
        <name>California School Finance Authority</name>
        <lei>N/A</lei>
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        <name>Corona Community Facilities District</name>
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        <name>San Diego County Regional Airport Authority</name>
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        <name>CMFA Special Finance Agency XII</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>California State University</name>
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        <name>Moreno Valley Unified School District Community Facilities District</name>
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        <name>East County Advanced Water Purification Joint Powers Authority</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>California Housing Finance Agency</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <invCountry>GU</invCountry>
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        <name>Beaumont Unified School District Community Facilities District No. 2022-1</name>
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        <name>Oceanside Unified School District/CA</name>
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        <name>Folsom Ranch Financing Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>California Community Choice Financing Authority</name>
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        <name>University of California</name>
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        <name>Glendale Community College District</name>
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        <name>FHLMC Multifamily ML Certificates</name>
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        <name>Sacramento City Unified School District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>San Francisco City &amp; County Airport Comm-San Francisco International Airport</name>
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        <name>University of California</name>
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        <name>City &amp; County of San Francisco CA Special Tax District No. 2020-1</name>
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        <name>Anaheim Housing &amp; Public Improvements Authority</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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        <name>CSCDA Community Improvement Authority</name>
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        <name>California Enterprise Development Authority</name>
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        <name>Moreno Valley Unified School District Community Facilities District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Corona-Norco Unified School District</name>
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        <name>AES Guayama Holdings BV</name>
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        <name>California State University</name>
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        <name>California Pollution Control Financing Authority</name>
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        <name>California State University</name>
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        <name>City of Beaumont CA</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>Los Angeles Unified School District</name>
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        <name>Beaumont Unified School District Community Facilities District No. 2022-1</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Hemet Unified School District</name>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Rocklin Unified School District</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>California Municipal Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>California Educational Facilities Authority</name>
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          <isin value="US130179JF20"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Riverside Unified School District</name>
        <lei>N/A</lei>
        <title>Riverside Unified School District, Series 2024</title>
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          <isin value="US769069V777"/>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>City of San Francisco CA Public Utilities Commission Water Revenue</name>
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          <isin value="US79771FCU93"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>City of Los Angeles CA Wastewater System Revenue</name>
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          <isin value="US53945CMD91"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5129233.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Hemet Unified School District</name>
        <lei>54930041KL801EWMW566</lei>
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          <isin value="US423540MJ97"/>
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        <valUSD>990491.70000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Folsom Ranch Financing Authority</name>
        <lei>N/A</lei>
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          <isin value="US344414GP64"/>
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        <balance>485000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-01</maturityDt>
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      <invstOrSec>
        <name>Antonio B. Won Pat International Airport Authority</name>
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          <isin value="US40064RFN44"/>
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        <balance>1600000.00000000</balance>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>San Juan Unified School District</name>
        <lei>N/A</lei>
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          <isin value="US798306GS93"/>
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        <balance>19470000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
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        <name>Los Angeles Department of Water &amp; Power</name>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>City of Menifee CA</name>
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      <invstOrSec>
        <name>Beaumont Unified School District Community Facilities District No. 2022-1</name>
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        <name>State of California</name>
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      <invstOrSec>
        <name>Antonio B Won Pat International Airport Authority</name>
        <lei>N/A</lei>
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          <isin value="US40064RGS22"/>
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        <invCountry>GU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Los Angeles Department of Water &amp; Power</name>
        <lei>549300S8NXV6YU61GG95</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Burbank-Glendale-Pasadena Airport Authority Brick Campaign</name>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>California Educational Facilities Authority</name>
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        <name>Perris Union High School District</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>River Islands Public Financing Authority</name>
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        <name>Temescal Valley Water District</name>
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        <name>California Pollution Control Financing Authority</name>
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        <name>Puerto Rico Industrial Tourist Educational Medical &amp; Envirml Ctl Facs Fing Auth</name>
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        <name>Patterson Joint Unified School District</name>
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        <name>City of Menifee CA</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <invCountry>GU</invCountry>
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        <name>California Pollution Control Financing Authority</name>
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        <name>Patterson Joint Unified School District</name>
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        <name>Oceanside Unified School District/CA</name>
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        <name>Bay Area Toll Authority</name>
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        <name>Norman Y Mineta San Jose International Airport SJC</name>
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        <name>City of Fontana CA</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Temecula Public Financing Authority</name>
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        <name>City of Los Angeles Department of Airports</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>City of Rancho Cordova CA</name>
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        <name>California Educational Facilities Authority</name>
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        <name>City of Ontario CA Community Facilities District No. 45</name>
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        <name>Union Elementary School District</name>
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        <name>California Enterprise Development Authority</name>
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        <name>California School Finance Authority</name>
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        <name>Rocklin Unified School District</name>
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        <name>City &amp; County of San Francisco CA Special Tax District No. 2020-1</name>
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        <name>Colton Joint Unified School District</name>
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        <name>Chino Community Facilities District</name>
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        <name>California County Tobacco Securitization Agency</name>
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      <invstOrSec>
        <name>California Pollution Control Financing Authority</name>
        <lei>N/A</lei>
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        <name>CSCDA Community Improvement Authority</name>
        <lei>N/A</lei>
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        <name>Regents of the University of California Medical Center Pooled Revenue</name>
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        <name>California Municipal Finance Authority</name>
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        <name>Romoland School District</name>
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        <name>University of California</name>
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        <name>Rohnert Park Community Development Commission Successor Agency</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Three Rivers Levee Improvement Authority</name>
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        <name>City of Menifee CA</name>
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        <name>Beaumont Unified School District Community Facilities District No. 2022-1</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>Perris Joint Powers Authority</name>
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        <name>Independent Cities Finance Authority</name>
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        <name>Antonio B Won Pat International Airport Authority</name>
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        <name>Pittsburg Unified School District</name>
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        <name>California School Finance Authority</name>
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        <name>Sacramento Municipal Utility District</name>
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        <name>California County Tobacco Securitization Agency</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <name>Tracy Community Facilities District</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Alameda Corridor Transportation Authority</name>
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        <name>Oceanside Unified School District</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Chino Community Facilities District</name>
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        <name>La Mirada Redevelopment Agency Successor Agency</name>
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        <name>Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue</name>
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        <name>California Statewide Communities Development Authority</name>
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        <name>Beaumont Unified School District Community Facilities District No. 2022-1</name>
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        <name>California Health Facilities Financing Authority</name>
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        <name>University of California</name>
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        <name>California Infrastructure &amp; Economic Development Bank</name>
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        <name>Middle Fork Project Finance Authority</name>
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        <name>Orange County Water District</name>
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        <curCd>USD</curCd>
        <valUSD>3610166.18000000</valUSD>
        <pctVal>0.029140103243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Hacienda La Puente Unified School District</name>
        <lei>N/A</lei>
        <title>Hacienda La Puente Unified School District, Series 2017 A</title>
        <cusip>40450REE7</cusip>
        <identifiers>
          <isin value="US40450REE71"/>
          <other otherDesc="Inhouse Asset ID" value="669290"/>
        </identifiers>
        <balance>655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600867.00000000</valUSD>
        <pctVal>0.004850005662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Los Angeles County Sanitation Districts Financing Authority</name>
        <lei>N/A</lei>
        <title>Los Angeles County Sanitation Districts Financing Authority, Series 2016 A</title>
        <cusip>545149KM7</cusip>
        <identifiers>
          <isin value="US545149KM73"/>
          <other otherDesc="Inhouse Asset ID" value="648337"/>
        </identifiers>
        <balance>16430000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15097804.67000000</valUSD>
        <pctVal>0.121864635834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>City of Sacramento CA Transient Occupancy Tax Revenue</name>
        <lei>N/A</lei>
        <title>City of Sacramento, Series 2018 A</title>
        <cusip>786073AW6</cusip>
        <identifiers>
          <isin value="US786073AW65"/>
          <other otherDesc="Inhouse Asset ID" value="939699"/>
        </identifiers>
        <balance>21415000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21449675.17000000</valUSD>
        <pctVal>0.173134896794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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 Health Facilities Financing Authority</name>
        <lei>5493007RI8BUDOGHZ546</lei>
        <title>California Health Facilities Financing Authority, Series 2020</title>
        <cusip>13032UYK8</cusip>
        <identifiers>
          <isin value="US13032UYK86"/>
          <other otherDesc="Inhouse Asset ID" value="1122275"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>810110.44000000</valUSD>
        <pctVal>0.006538951583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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 Educational Facilities Authority, Series 2018 A</title>
        <cusip>130179RK2</cusip>
        <identifiers>
          <isin value="US130179RK23"/>
          <other otherDesc="Inhouse Asset ID" value="943356"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9984119.00000000</valUSD>
        <pctVal>0.080588605606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>Perris Joint Powers Authority</name>
        <lei>549300YM04SQ63RR8P86</lei>
        <title>Perris Joint Powers Authority, Series 2021</title>
        <cusip>714376UD0</cusip>
        <identifiers>
          <isin value="US714376UD03"/>
          <other otherDesc="Inhouse Asset ID" value="1181333"/>
        </identifiers>
        <balance>1445000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1266410.14000000</valUSD>
        <pctVal>0.010222056378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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 Statewide Communities Development Authority</name>
        <lei>549300KTNI2GCJNX2U48</lei>
        <title>California Statewide Communities Development Authority, Series 2024</title>
        <cusip>13077ERE2</cusip>
        <identifiers>
          <isin value="US13077ERE22"/>
          <other otherDesc="Inhouse Asset ID" value="1375327"/>
        </identifiers>
        <balance>820000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>802431.66000000</valUSD>
        <pctVal>0.006476970934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>University of California</name>
        <lei>N/A</lei>
        <title>University of California, Series 2018 AZ</title>
        <cusip>91412HBE2</cusip>
        <identifiers>
          <isin value="US91412HBE27"/>
          <other otherDesc="Inhouse Asset ID" value="1038341"/>
        </identifiers>
        <balance>9110000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9280744.18000000</valUSD>
        <pctVal>0.074911189705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>Murrieta Valley Unified School District</name>
        <lei>N/A</lei>
        <title>Murrieta Valley Unified School District, Series 2021</title>
        <cusip>62719HS54</cusip>
        <identifiers>
          <isin value="US62719HS544"/>
          <other otherDesc="Inhouse Asset ID" value="1160962"/>
        </identifiers>
        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>436364.75000000</valUSD>
        <pctVal>0.003522196273</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>4.00000000</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>City of Fontana CA</name>
        <lei>N/A</lei>
        <title>City of Fontana, Series 2020</title>
        <cusip>344630XR4</cusip>
        <identifiers>
          <isin value="US344630XR44"/>
          <other otherDesc="Inhouse Asset ID" value="1117037"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>966665.70000000</valUSD>
        <pctVal>0.007802615418</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>4.00000000</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 Municipal Finance Authority, Series 2024</title>
        <cusip>13051AHF8</cusip>
        <identifiers>
          <isin value="US13051AHF84"/>
          <other otherDesc="Inhouse Asset ID" value="1346763"/>
        </identifiers>
        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>907788.69000000</valUSD>
        <pctVal>0.007327379081</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>5.00000000</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>State of California</name>
        <lei>N/A</lei>
        <title>State of California</title>
        <cusip>13063DVC9</cusip>
        <identifiers>
          <isin value="US13063DVC90"/>
          <other otherDesc="Inhouse Asset ID" value="1202480"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10033154.00000000</valUSD>
        <pctVal>0.080984400395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>City of Wildomar CA</name>
        <lei>N/A</lei>
        <title>City of Wildomar, Series 2024</title>
        <cusip>968118AN9</cusip>
        <identifiers>
          <isin value="US968118AN91"/>
          <other otherDesc="Inhouse Asset ID" value="1367746"/>
        </identifiers>
        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1176027.24000000</valUSD>
        <pctVal>0.009492514605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-06-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin California Tax Free Income Fund</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
