PGIM California Muni Income Fund
Barron’s Best Fund Families: Ranked #4 for best fund family over the 1-year period ended 12/31/2024, among 48 qualifying fund families based on asset- weighted returns.
Seeks to maximize current income that is exempt from California state and federal income taxes, consistent with preservation of capital by investing primarily in investment-grade municipal debt obligations. The Fund may be appropriate for those who are seeking income that is generally free from federal and state taxes.
Growth of $10,000
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost. This chart represents historical performance and does not assume the effects of sales charges or varying fees and expenses of other share classes. If shown with sales charges or these other fees and expenses, performance could have been lower. It is not possible to invest directly in an index. Click here to view benchmark index definitions.
FUND INFORMATION
Fund StatisticS
|
Name
|
Weight
|
|---|---|
| AMT (%) | 13.8 |
| Average Effective Maturity (years) | 5.5 |
| Average Maturity (years) | 7.9 |
| Duration (years) | 4.8 |
| Standard Deviation (3 year) | 4.5 |
Source: Morningstar. Morningstar Ratings may be calculated based on share class adjusted historical returns. If so, the fund’s independent Morningstar Rating metric uses the fund’s oldest class to determine its hypothetical rating for certain periods. Morningstar Ratings are calculated for managed products with a 3-year minimum history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. Rating is calculated based on a Morningstar Risk-Adjusted Return measure accounting for variation in a managed product's monthly excess performance that emphasizes downward variations more and rewards consistent performance, with no sales load adjustment. In each category, the top 10% receive 5 stars, with 4 stars for the next 22.5%, 3 stars for the next 35%, 2 stars for the next 22.5%, and 1 star for the bottom 10%. Overall Morningstar Rating is derived from a weighted average of the performance associated with its 3-, 5-, and 10-year (if applicable) Morningstar Rating metrics: for 36-59 months of total returns, 100% 3-year rating, for 60-119 months of total returns, 60% 5-year rating/40% 3-year rating, and for 120 or more months of total returns, 50% 10-year rating/30% 5-year rating/20% 3-year rating.
Risks of investing in the fund include but are not limited to the following: Fixed Income investments are subject to credit, market, prepayment and interest rate risks, and their value will decline as interest rates rise. High yield (“junk”) bonds are subject to greater credit and market risks. The Fund is subject to fixed income obligations and municipal bonds risk, where the Fund's holdings, share price, yield and total return may fluctuate in response to bond market movements and municipal bond market movements. The Fund may purchase municipal bonds that are insured to attempt to reduce credit risk. Due to its concentration in California obligations, the Fund is more susceptible to economic, political and other developments that may adversely affect issuers of California obligations than a municipal bond fund. There is no guarantee the Fund's objective will be achieved. Risks are more fully explained in the fund's prospectus.
- Monthly & Quarterly Performance
- Prices & Yields
Total Returns (%)
| TOTAL RETURNS (%) WITH SALES CHARGE WITHOUT SALES CHARGE | |||||||
|---|---|---|---|---|---|---|---|
| Cumulative | Average Annual | ||||||
| Class | Ticker | YTD | 1-Yr | 3-Yr | 5-Yr | 10-Yr | Since Inception |
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
See Daily Returns for the PGIM California Muni Income Fund.
See Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM California Muni Income Fund.
See Daily Returns for the PGIM California Muni Income Fund.
See Quarterly SEC Standardized Performance of other PGIM Investments Mutual Funds.
See Calendar Year Performance for the PGIM California Muni Income Fund.
|
Fund Expenses
|
Maximum Sales Charge (%)
|
|||
|---|---|---|---|---|
|
Class
|
Gross (%)
|
Net (%)
|
Date*
|
|
| A | 0.77 | 0.69 | 12/31/2025 | 3.25 |
| C | 1.67 | 1.59 | 12/31/2025 | 1.00 |
| R6 | 0.51 | 0.38 | 12/31/2025 | — |
| Z | 0.57 | 0.39 | 12/31/2025 | — |
*This date represents the contractual reduction date through which the net expense ratio is in effect.
Total return describes the return to the investor after net operating expenses but before any sales charges are imposed. Morningstar Category Average is unmanaged, is based on the average return of all funds in this category, and does not take into consideration applicable sales charges. Unless noted otherwise, Morningstar Category Average and index returns reflect performance beginning the closest month-end date to the Fund's inception. Benchmark since inception average is based on Class Z inception date. SEC standardized return describes the return to the investor after net operating expense and maximum sales charges are imposed. All returns assume share price changes as well as the compounding effect of reinvested dividends and capital gains. Returns may reflect fee waivers and/or expense reimbursements. Without such, returns would be lower. All returns 1-year or less are cumulative.
Morningstar Muni California Intermediate Category Average: Muni California intermediate portfolios invest at least 80% of assets in California municipal debt. Because the income from these bonds is generally free from federal taxes and California state taxes, these portfolios are most appealing to residents of California. These portfolios have durations of 4.0 to 6.0 years (or average maturities of five to 12 years).
Bloomberg Municipal Bond Index is an unmanaged index of long-term investment-grade municipal bonds.
Bloomberg California 1-15 Yr Municipal Index is a subset of the Bloomberg Barclays U.S. Municipal Index that covers the USD-denominated long-term tax exempt bond market. The index has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds and pre-refunded bonds. The 1-15 Yr index contains bonds with maturities between 1 and 15 years.
An investment cannot be made directly in an index or average. All indexes and averages are unmanaged.
Prices
|
Class
|
NAV ($)
|
NAV Change ($)
|
NAV Change (%)
|
POP ($)
|
Total Net Assets ($)
|
|---|---|---|---|---|---|
| A | 9.79 |
0.00
|
0.00 | 10.12 | 114,149,594.65 |
| C | 9.79 |
0.00
|
0.00 | — | 4,159,863.41 |
| R6 | 9.79 |
0.00
|
0.00 | — | 30,792,867.75 |
| Z | 9.79 |
0.00
|
0.00 | — | 159,645,114.97 |
NAV (Net Asset Value) is the $U.S. value of a single share of a fund, excluding any sales charges. Change shows the change in $U.S. value over the previous day:
= Gain, 
= Loss, 
= No Change.
See Prices of other PGIM Investments Mutual Funds.
52 Week High/Low
|
Class
|
52 Week High ($)
|
52 Week High Date
|
52 Week Low ($)
|
52 Week Low Date
|
|---|---|---|---|---|
| A | 10.02 | 10/03/2024 | 9.53 | 04/09/2025 |
| C | 10.01 | 10/03/2024 | 9.53 | 04/09/2025 |
| R6 | 10.02 | 10/03/2024 | 9.53 | 04/09/2025 |
| Z | 10.02 | 10/03/2024 | 9.53 | 04/09/2025 |
For share classes less than one year old, the 52-week high and 52-week low NAVs are calculated from inception to the current date.
Yields
| Class | SEC 30-Day Subsidized Yield (%) | SEC 30-Day Unsubsidized Yield (%) | Offer Distb. Yield (%) | NAV Distb. Yield (%) | SEC-30 Day Sub Taxable Equivalent Yield (%) |
|---|---|---|---|---|---|
| A - View Prospectus | 3.05 | 2.99 | 2.82 | 2.91 | 6.64 |
| C - View Prospectus | 2.22 | 2.16 | — | 1.98 | 4.84 |
| R6 - View Prospectus | 3.47 | 3.36 | — | 3.22 | 7.56 |
| Z - View Prospectus | 3.46 | 3.30 | — | 3.21 | 7.54 |
See Yields of other PGIM Investments Mutual Funds.
Past performance does not guarantee future results and current performance may be lower or higher than the past performance data quoted. The investment return and principal value will fluctuate, and shares, when sold, may be worth more or less than the original cost.
This material must be preceded or accompanied by a current prospectus or summary prospectus. Consider a fund's investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
- Portfolio Summary
- Complete Holdings
Portfolio Attributes
All data is unaudited and subject to change. Holdings/allocations may vary. This is not a recommendation to buy or sell any security listed. Total number of holdings based on issuers. Largest holdings exclude cash, cash equivalents, money market funds and enhanced cash strategies. Totals may not sum due to rounding. Negative holdings reflect outstanding trades at period end.
Fund Holdings
Holdings are unaudited, may vary and are subject to change. Please refer to the Fund's annual report for audited holdings information. This is not a recommendation to buy or sell any security listed.
Value ($): Cash securities are calculated using market value and derivative securities are calculated using notional value.
Source: Bank of New York Mellon. Holdings are provided to Prudential Financial by the custodian bank and Prudential Financial is not responsible for any errors or omissions related to the holdings data.
© 2025, American Bankers Association. CUSIP Database provided by FactSet Research Systems Inc. All rights reserved.
Consider a fund's investment objectives, risks, charges and expenses carefully before investing. The prospectus and summary prospectus contain this and other information about the fund. For more information about a fund, click on the prospectus or summary prospectus link above. Read them carefully before investing.
Investment products are distributed by Prudential Investment Management Services LLC, member FINRA and SIPC. PGIM Investments is a registered investment advisor and investment manager to PGIM registered investment companies. Jennison Associates is a registered investment advisor. PGIM Quantitative Solutions is the primary business name of PGIM Quantitative Solutions LLC, a registered investment advisor. PGIM Fixed Income and PGIM Real Estate are units of PGIM, a registered investment advisor. PGIM DC Solutions is a registered investment advisor. PGIM Limited acts as a subadvisor to all fixed income funds. PGIM Limited is an indirect, wholly owned subsidiary of PGIM, Inc. (PGIM), the principal asset management business of Prudential Financial, Inc. (PFI), a company incorporated and with its principal place of business in the United States. All are Prudential Financial affiliates. © 2025 Prudential Financial, Inc. and its related entities. PGIM, PGIM Investments, Jennison Associates, Jennison, PGIM Fixed Income, PGIM Limited, PGIM Quantitative Solutions, PGIM Real Estate, PGIM DC Solutions and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
This material is being provided for informational or educational purposes only and does not take into account the investment objectives or financial situation of any client or prospective clients. The information is not intended as investment advice and is not a recommendation. Clients seeking information regarding their particular investment needs should contact their financial professional.
INVESTMENT PRODUCTS | Are not insured by the FDIC or any federal government agency | May lose value | Are not a deposit of or guaranteed by any bank or any bank affiliate.
Prudential Financial, Inc. of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom.
4072323 Ed. 12/2024
|
Security ID# (CUSIP/SEDOL)
|
Security Description
|
Ticker Symbol
|
Coupon Rate
|
Maturity Date
|
Shares/Notional
|
Value ($)
|
% of Portfolio
|
|---|---|---|---|---|---|---|---|
| 74440E201 | PGIM Core Ultra Short Bond Fund | — | 4.53 | 12/01/2099 | 8,570,552.00 | 8,570,551.00 | 2.80 |
| 13013JDR4 | California Community Choice Financing Au | CCEDEV | 5.0 | 05/01/2054 | 5,825,000.00 | 6,124,878.00 | 2.00 |
| CURRENCY | Currency | — | — | — | 5,785,279.00 | 5,785,279.00 | 1.89 |
| 13063EDL7 | State Of California | CAS | 5.0 | 08/01/2039 | 4,475,000.00 | 4,881,168.00 | 1.59 |
| 54241AAY9 | LONG Beach Bond Finance Authority | LONUTL | 5.0 | 11/15/2035 | 3,725,000.00 | 3,977,834.00 | 1.30 |
| 544351SF7 | CITY Of Los Angeles Ca | LOS | 5.0 | 06/25/2026 | 3,600,000.00 | 3,671,828.00 | 1.20 |
| 13032UYT9 | California Health Facilities Financing A | CASMED | 3.0 | 08/15/2054 | 3,150,000.00 | 3,148,354.00 | 1.03 |
| 13034A6Q8 | California Infrastructure & Economic Dev | CASDEV | 5.0 | 05/15/2038 | 2,750,000.00 | 3,034,552.00 | 0.99 |
| 13079PA29 | California Statewide Communities Develop | CASMFH | 3.7 | 04/01/2035 | 3,000,000.00 | 2,902,609.00 | 0.95 |
| 13068XMG1 | California State Public Works Board | CASFAC | 5.0 | 09/01/2039 | 2,565,000.00 | 2,801,977.00 | 0.92 |
| 13032UUW6 | California Health Facilities Financing A | CASMED | 5.0 | 06/01/2041 | 2,565,000.00 | 2,757,873.00 | 0.90 |
| 544532PZ1 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2031 | 2,525,000.00 | 2,743,289.00 | 0.90 |
| 801444HX1 | CITY Of Santa Clara Ca Electric Revenue | SCRPWR | 5.0 | 07/01/2042 | 2,500,000.00 | 2,692,892.00 | 0.88 |
| 13013JAX4 | California Community Choice Financing Au | CCEDEV | 4.0 | 10/01/2052 | 2,690,000.00 | 2,706,885.00 | 0.88 |
| 13013JFR2 | California Community Choice Financing Au | CCEDEV | 5.0 | 02/01/2055 | 2,500,000.00 | 2,654,129.00 | 0.87 |
| 79739GSV9 | SAN Diego County Regional Airport Author | SDGAPT | 5.25 | 07/01/2038 | 2,500,000.00 | 2,666,366.00 | 0.87 |
| 74529JQC2 | Puerto Rico Sales Tax Financing Corp Sal | PRCGEN | — | 07/01/2027 | 2,839,000.00 | 2,651,166.00 | 0.87 |
| 842475R80 | Southern California Public Power Authori | STNPWR | 3.7 | 07/01/2040 | 2,500,000.00 | 2,535,782.00 | 0.83 |
| 13063C8R4 | State Of California | CAS | 5.0 | 08/01/2028 | 2,425,000.00 | 2,532,348.00 | 0.83 |
| 735000VJ7 | PORT Of Oakland | PTOTRN | 5.0 | 05/01/2028 | 2,345,000.00 | 2,450,904.00 | 0.80 |
| 544647HG8 | LOS Angeles Unified School District/ca | LOSSCD | 5.0 | 07/01/2025 | 2,410,000.00 | 2,410,155.00 | 0.79 |
| 79766DRP6 | SAN Francisco City & County Airport Comm | SFOAPT | 5.0 | 05/01/2027 | 2,330,000.00 | 2,407,976.00 | 0.79 |
| 924397EN8 | CITY Of Vernon Ca Electric System Revenu | VERPWR | 5.0 | 04/01/2028 | 2,150,000.00 | 2,256,278.00 | 0.74 |
| 13013JCS3 | California Community Choice Financing Au | CCEDEV | 5.5 | 05/01/2054 | 2,150,000.00 | 2,262,039.00 | 0.74 |
| 91412HUD3 | University Of California | UNVHGR | 5.25 | 05/15/2039 | 2,000,000.00 | 2,234,333.00 | 0.73 |
| 91412HUZ4 | University Of California | UNVHGR | 5.0 | 05/15/2038 | 2,000,000.00 | 2,205,469.00 | 0.72 |
| 74527EFN3 | Puerto Rico Industrial Tourist Education | PRCMED | 5.0 | 07/01/2032 | 2,100,000.00 | 2,202,966.00 | 0.72 |
| 544552C67 | PORT Of Los Angeles | LOSTRN | 5.0 | 08/01/2035 | 2,000,000.00 | 2,178,175.00 | 0.71 |
| 13013JFW1 | California Community Choice Financing Au | CCEDEV | 5.0 | 01/01/2056 | 2,000,000.00 | 2,159,843.00 | 0.71 |
| 13032URK6 | California Health Facilities Financing A | CASMED | 5.0 | 11/15/2036 | 2,085,000.00 | 2,139,223.00 | 0.70 |
| 13063EDA1 | State Of California | CAS | 5.0 | 08/01/2028 | 2,005,000.00 | 2,147,475.00 | 0.70 |
| 13063DVQ8 | State Of California | CAS | 5.0 | 11/01/2026 | 2,075,000.00 | 2,141,491.00 | 0.70 |
| 68423PWC0 | Orange County Community Facilities Distr | ORAFAC | 5.25 | 08/15/2045 | 2,150,000.00 | 2,153,794.00 | 0.70 |
| 84247PND9 | Southern California Public Power Authori | STNPWR | 5.0 | 04/01/2055 | 2,000,000.00 | 2,103,796.00 | 0.69 |
| 13013JDG8 | California Community Choice Financing Au | CCEDEV | 5.25 | 11/01/2054 | 2,000,000.00 | 2,117,073.00 | 0.69 |
| 13013JCM6 | California Community Choice Financing Au | CCEDEV | 5.25 | 01/01/2054 | 2,000,000.00 | 2,092,446.00 | 0.68 |
| 13016NEM2 | California County Tobacco Securitization | CASGEN | 5.0 | 06/01/2029 | 1,915,000.00 | 2,025,039.00 | 0.66 |
| 13016NEP5 | California County Tobacco Securitization | CASGEN | 5.0 | 06/01/2031 | 1,885,000.00 | 2,021,086.00 | 0.66 |
| 13034A5B2 | California Infrastructure & Economic Dev | CASDEV | 3.25 | 08/01/2029 | 2,000,000.00 | 2,006,885.00 | 0.66 |
| 13063DUJ5 | State Of California | CAS | 3.0 | 03/01/2028 | 2,000,000.00 | 2,021,444.00 | 0.66 |
| 13078RGA2 | California Statewide Communities Develop | CASDEV | 5.0 | 05/15/2028 | 2,000,000.00 | 2,022,368.00 | 0.66 |
| 79766DKU2 | SAN Francisco City & County Airport Comm | SFOAPT | 5.0 | 05/01/2026 | 1,980,000.00 | 2,008,824.00 | 0.66 |
| 130483JB7 | California Municipal Finance Authority | CASMFH | 3.15 | 08/01/2059 | 2,000,000.00 | 2,000,533.00 | 0.65 |
| 13050RAA0 | California Municipal Finance Authority | CASFIN | 4.0 | 07/15/2029 | 2,000,000.00 | 1,953,925.00 | 0.64 |
| 13013JBJ4 | California Community Choice Financing Au | CCEDEV | 4.0 | 05/01/2053 | 1,905,000.00 | 1,921,047.00 | 0.63 |
| 927686AM7 | Virgin Islands Transportation & Infrastr | VIITRN | 5.0 | 09/01/2036 | 1,750,000.00 | 1,909,851.00 | 0.62 |
| 13078HAZ5 | California Statewide Communities Develop | CASPOL | 1.45 | 04/01/2028 | 2,000,000.00 | 1,840,655.00 | 0.60 |
| 13050WAA9 | California Municipal Finance Authority | CASMFH | 3.54 | 02/20/2041 | 1,998,366.00 | 1,782,785.00 | 0.58 |
| 86459LBR8 | Pittsburg Successor Agency Redevelopment | PITDEV | 5.0 | 09/01/2029 | 1,750,000.00 | 1,787,950.00 | 0.58 |
| 13033DAE5 | California Housing Finance Agency | CASHSG | 3.5 | 11/20/2035 | 1,868,565.00 | 1,743,653.00 | 0.57 |
| 13033DAC9 | California Housing Finance Agency | CASHSG | 4.0 | 03/20/2033 | 1,726,711.00 | 1,718,703.00 | 0.56 |
| 74529JQF5 | Puerto Rico Sales Tax Financing Corp Sal | PRCGEN | — | 07/01/2033 | 2,393,000.00 | 1,714,512.00 | 0.56 |
| 13062TH72 | State Of California | CAS | 5.25 | 08/01/2032 | 1,500,000.00 | 1,691,199.00 | 0.55 |
| 13032UP93 | California Health Facilities Financing A | CASMED | 5.0 | 11/01/2054 | 1,500,000.00 | 1,656,056.00 | 0.54 |
| 13032WCV4 | California Housing Finance Agency | CASHSG | 3.85 | 08/01/2032 | 1,590,000.00 | 1,610,627.00 | 0.53 |
| 40065NCP0 | Territory Of Guam | GMSGEN | 5.0 | 01/01/2031 | 1,525,000.00 | 1,617,360.00 | 0.53 |
| 544445S26 | CITY Of Los Angeles Department Of Airpor | LOSAPT | 5.0 | 05/15/2035 | 1,530,000.00 | 1,612,307.00 | 0.53 |
| 544532LW2 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2039 | 1,545,000.00 | 1,632,429.00 | 0.53 |
| 54241AAW3 | LONG Beach Bond Finance Authority | LONUTL | 5.5 | 11/15/2030 | 1,475,000.00 | 1,599,327.00 | 0.52 |
| 5444452V0 | CITY Of Los Angeles Department Of Airpor | LOSAPT | 5.25 | 05/15/2040 | 1,500,000.00 | 1,603,911.00 | 0.52 |
| 13080SB52 | California Statewide Communities Develop | CASGEN | 5.0 | 04/01/2033 | 1,520,000.00 | 1,604,536.00 | 0.52 |
| 13063CD98 | State Of California | CAS | 4.0 | 09/01/2034 | 1,580,000.00 | 1,585,916.00 | 0.52 |
| 13032UBQ0 | California Health Facilities Financing A | CASMED | 5.0 | 11/15/2025 | 1,565,000.00 | 1,578,635.00 | 0.52 |
| 888794BJ2 | Tobacco Securitization Authority Of Nort | TOBGEN | 5.0 | 06/01/2028 | 1,500,000.00 | 1,569,372.00 | 0.51 |
| 724568GD6 | Pittsburg Successor Agency Redevelopment | PITDEV | — | 08/01/2026 | 1,585,000.00 | 1,534,672.00 | 0.50 |
| 13049UEY1 | California Municipal Finance Authority | CASFIN | 5.0 | 06/01/2043 | 1,500,000.00 | 1,530,903.00 | 0.50 |
| 13049YCS8 | California Municipal Finance Authority | CASFIN | 5.0 | 05/15/2039 | 1,500,000.00 | 1,540,507.00 | 0.50 |
| 13063DU22 | State Of California | CAS | 4.0 | 09/01/2026 | 1,500,000.00 | 1,525,074.00 | 0.50 |
| 13063EBR6 | State Of California | CAS | 4.0 | 09/01/2025 | 1,500,000.00 | 1,503,178.00 | 0.49 |
| 13048RAJ6 | California Municipal Finance Authority | CASPOL | 3.75 | 07/01/2041 | 1,500,000.00 | 1,486,451.00 | 0.49 |
| 68423PYB0 | Orange County Community Facilities Distr | ORAFAC | 5.0 | 08/15/2047 | 1,500,000.00 | 1,500,103.00 | 0.49 |
| 955636AB1 | CITY Of West Sacramento Ca Enhanced Infr | WSRGEN | 5.0 | 09/01/2045 | 1,500,000.00 | 1,514,539.00 | 0.49 |
| 544532KK9 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2039 | 1,390,000.00 | 1,468,659.00 | 0.48 |
| 79739GLZ7 | SAN Diego County Regional Airport Author | SDGAPT | 5.0 | 07/01/2037 | 1,400,000.00 | 1,431,836.00 | 0.47 |
| 13059TFU8 | California School Finance Authority | CASSCD | 5.0 | 07/01/2049 | 1,500,000.00 | 1,434,842.00 | 0.47 |
| 13048VBF4 | California Municipal Finance Authority | CASFIN | 5.0 | 06/30/2026 | 1,385,000.00 | 1,396,894.00 | 0.46 |
| 13032UUP1 | California Health Facilities Financing A | CASMED | 5.0 | 10/01/2039 | 1,375,000.00 | 1,420,332.00 | 0.46 |
| 91412HQX4 | University Of California | UNVHGR | 5.0 | 05/15/2043 | 1,335,000.00 | 1,410,793.00 | 0.46 |
| 74527EFP8 | Puerto Rico Industrial Tourist Education | PRCMED | 5.0 | 07/01/2033 | 1,335,000.00 | 1,393,475.00 | 0.46 |
| 13013JCB0 | California Community Choice Financing Au | CCEDEV | 5.0 | 07/01/2053 | 1,320,000.00 | 1,383,352.00 | 0.45 |
| 13048VV21 | California Municipal Finance Authority | CASFIN | 5.0 | 09/01/2049 | 1,340,000.00 | 1,384,339.00 | 0.45 |
| 3137HH6G1 | Freddie Mac Multifamily Ml Certificates | FRETE | 3.54 | 11/01/2038 | 1,488,280.00 | 1,387,694.00 | 0.45 |
| 13080ST38 | California Statewide Communities Develop | CASGEN | 5.25 | 12/01/2042 | 1,250,000.00 | 1,338,932.00 | 0.44 |
| 13048VBQ0 | California Municipal Finance Authority | CASFIN | 5.0 | 06/30/2031 | 1,320,000.00 | 1,343,309.00 | 0.44 |
| 91412HUS0 | University Of California | UNVHGR | 5.0 | 05/15/2038 | 1,210,000.00 | 1,334,315.00 | 0.44 |
| 544445A74 | CITY Of Los Angeles Department Of Airpor | LOSAPT | 5.0 | 05/15/2028 | 1,250,000.00 | 1,312,232.00 | 0.43 |
| 5444954E1 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2026 | 1,250,000.00 | 1,271,871.00 | 0.42 |
| 888794BK9 | Tobacco Securitization Authority Of Nort | TOBGEN | 5.0 | 06/01/2029 | 1,225,000.00 | 1,297,100.00 | 0.42 |
| 735000VK4 | PORT Of Oakland | PTOTRN | 5.0 | 05/01/2029 | 1,215,000.00 | 1,283,570.00 | 0.42 |
| 91412HHD8 | University Of California | UNVHGR | 5.0 | 05/15/2041 | 1,195,000.00 | 1,246,408.00 | 0.41 |
| 13063ELX2 | State Of California | CAS | 5.0 | 03/01/2035 | 1,100,000.00 | 1,257,669.00 | 0.41 |
| 13048VZ92 | California Municipal Finance Authority | CASFIN | 5.0 | 11/15/2044 | 1,250,000.00 | 1,247,328.00 | 0.41 |
| 13016NEJ9 | California County Tobacco Securitization | CASGEN | 5.0 | 06/01/2026 | 1,220,000.00 | 1,238,853.00 | 0.40 |
| 13032UB72 | California Health Facilities Financing A | CASMED | 5.0 | 10/01/2039 | 1,225,000.00 | 1,231,665.00 | 0.40 |
| 13063EAQ9 | State Of California | CAS | 5.0 | 09/01/2044 | 1,120,000.00 | 1,179,635.00 | 0.39 |
| 544445E62 | CITY Of Los Angeles Department Of Airpor | LOSAPT | 5.5 | 05/15/2037 | 1,100,000.00 | 1,180,568.00 | 0.39 |
| 54467WAK8 | LOS Angeles County Development Authority | LOSDEV | 3.35 | 09/01/2059 | 1,200,000.00 | 1,202,171.00 | 0.39 |
| 55374SAC4 | M-s-r Energy Authority | MSRPWR | 6.5 | 11/01/2039 | 1,000,000.00 | 1,192,778.00 | 0.39 |
| 797356LQ3 | SAN Diego Unified School District/ca | SDGEDU | 5.0 | 07/01/2034 | 1,000,000.00 | 1,164,678.00 | 0.38 |
| 777870WA0 | CITY Of Roseville Ca | ROSGEN | 5.0 | 09/01/2037 | 1,165,000.00 | 1,164,918.00 | 0.38 |
| 074437DL5 | Beaumont Unified School District | BEASCD | — | 08/01/2040 | 2,365,000.00 | 1,164,249.00 | 0.38 |
| 130179XC3 | California Educational Facilities Author | CASEDU | 5.0 | 03/01/2055 | 1,000,000.00 | 1,141,779.00 | 0.37 |
| 13032UBH0 | California Health Facilities Financing A | CASMED | 5.0 | 11/15/2033 | 1,115,000.00 | 1,121,563.00 | 0.37 |
| 544445FB0 | CITY Of Los Angeles Department Of Airpor | LOSAPT | 5.0 | 05/15/2031 | 1,080,000.00 | 1,124,857.00 | 0.37 |
| 13078HBA9 | California Statewide Communities Develop | CASPOL | 4.5 | 11/01/2033 | 1,100,000.00 | 1,119,223.00 | 0.37 |
| 544525XE3 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2043 | 1,115,000.00 | 1,122,468.00 | 0.37 |
| 74514L3J4 | Commonwealth Of Puerto Rico | PRC | 5.75 | 07/01/2031 | 1,020,883.00 | 1,121,152.00 | 0.37 |
| 76912TNY5 | Riverside County Public Financing Author | RIVGEN | 5.0 | 10/01/2034 | 1,000,000.00 | 1,140,962.00 | 0.37 |
| 74528LAA9 | Puerto Rico Industrial Tourist Education | PRCPOL | 6.75 | 01/01/2045 | 1,000,000.00 | 1,115,694.00 | 0.36 |
| 786153PP5 | County Of Sacramento Ca | SACGEN | 5.0 | 09/01/2040 | 1,085,000.00 | 1,088,718.00 | 0.36 |
| 797356LY6 | SAN Diego Unified School District/ca | SDGEDU | 5.0 | 07/01/2040 | 1,000,000.00 | 1,094,053.00 | 0.36 |
| 79766DVT3 | SAN Francisco City & County Airport Comm | SFOAPT | 5.5 | 05/01/2039 | 1,000,000.00 | 1,090,593.00 | 0.36 |
| 79811YAK4 | SAN Joaquin Valley Clean Energy Authorit | SSJUTL | 5.5 | 01/01/2056 | 1,000,000.00 | 1,095,016.00 | 0.36 |
| 91412HUY7 | University Of California | UNVHGR | 5.0 | 05/15/2037 | 1,000,000.00 | 1,111,854.00 | 0.36 |
| 802309JV7 | Santa Maria Joint Union High School Dist | SMASCD | — | 08/01/2029 | 1,250,000.00 | 1,115,758.00 | 0.36 |
| 13032UB80 | California Health Facilities Financing A | CASMED | 5.0 | 10/01/2039 | 1,100,000.00 | 1,105,014.00 | 0.36 |
| 13013JDB9 | California Community Choice Financing Au | CCEDEV | 5.0 | 02/01/2054 | 1,060,000.00 | 1,113,923.00 | 0.36 |
| 010869MK8 | Alameda Corridor Transportation Authorit | ALATRN | 5.0 | 10/01/2043 | 1,000,000.00 | 1,057,957.00 | 0.35 |
| 13051BAE6 | California Municipal Finance Authority | CASFAC | 4.65 | 05/01/2030 | 1,045,000.00 | 1,060,524.00 | 0.35 |
| 15569DAA0 | Central Valley Energy Authority | CTVPWR | 5.0 | 12/01/2055 | 1,000,000.00 | 1,071,759.00 | 0.35 |
| 38122ND90 | Golden State Tobacco Securitization Corp | GLDGEN | 5.0 | 06/01/2051 | 1,100,000.00 | 1,081,592.00 | 0.35 |
| 544445D63 | CITY Of Los Angeles Department Of Airpor | LOSAPT | 5.0 | 05/15/2029 | 1,000,000.00 | 1,065,798.00 | 0.35 |
| 13063EAJ5 | State Of California | CAS | 4.0 | 09/01/2034 | 1,000,000.00 | 1,064,141.00 | 0.35 |
| 13063D4T2 | State Of California | CAS | 5.0 | 10/01/2042 | 1,000,000.00 | 1,060,578.00 | 0.35 |
| 13063DNJ3 | State Of California | CAS | 5.0 | 04/01/2033 | 1,000,000.00 | 1,071,549.00 | 0.35 |
| 13063ELH7 | State Of California | CAS | 5.0 | 03/01/2042 | 1,000,000.00 | 1,072,409.00 | 0.35 |
| 91412HRW5 | University Of California | UNVHGR | 5.0 | 05/15/2041 | 1,000,000.00 | 1,066,812.00 | 0.35 |
| 955636AA3 | CITY Of West Sacramento Ca Enhanced Infr | WSRGEN | 5.0 | 09/01/2040 | 1,035,000.00 | 1,073,014.00 | 0.35 |
| 79766DXM6 | SAN Francisco City & County Airport Comm | SFOAPT | 5.0 | 05/01/2035 | 1,000,000.00 | 1,080,933.00 | 0.35 |
| 79739GNL6 | SAN Diego County Regional Airport Author | SDGAPT | 5.0 | 07/01/2034 | 1,000,000.00 | 1,055,980.00 | 0.35 |
| 544532PA6 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2028 | 1,040,000.00 | 1,084,496.00 | 0.35 |
| 544532PS7 | LOS Angeles Department Of Water & Power | LOSUTL | 5.25 | 07/01/2045 | 1,000,000.00 | 1,047,912.00 | 0.34 |
| 79739GLQ7 | SAN Diego County Regional Airport Author | SDGAPT | 5.0 | 07/01/2028 | 1,000,000.00 | 1,047,978.00 | 0.34 |
| 79766DWV7 | SAN Francisco City & County Airport Comm | SFOAPT | 5.25 | 05/01/2043 | 1,000,000.00 | 1,047,585.00 | 0.34 |
| 190335GZ6 | Coast Community College District | CSTHGR | — | 08/01/2035 | 1,600,000.00 | 1,033,764.00 | 0.34 |
| 13013JAR7 | California Community Choice Financing Au | CCEDEV | 2.37 | 02/01/2052 | 1,120,000.00 | 1,048,693.00 | 0.34 |
| 13013JEB8 | California Community Choice Financing Au | CCEDEV | 5.0 | 08/01/2055 | 1,000,000.00 | 1,046,941.00 | 0.34 |
| 13032U3C0 | California Health Facilities Financing A | CASMED | 5.25 | 02/01/2048 | 1,000,000.00 | 1,047,884.00 | 0.34 |
| 13048VBL1 | California Municipal Finance Authority | CASFIN | 5.0 | 12/31/2028 | 1,000,000.00 | 1,021,599.00 | 0.33 |
| 13048VQ27 | California Municipal Finance Authority | CASFIN | 6.0 | 01/01/2039 | 1,000,000.00 | 1,004,604.00 | 0.33 |
| 13048RAL1 | California Municipal Finance Authority | CASPOL | 4.13 | 10/01/2041 | 1,000,000.00 | 999,895.00 | 0.33 |
| 13048V2V9 | California Municipal Finance Authority | CASFIN | 5.75 | 04/01/2030 | 1,000,000.00 | 1,000,515.00 | 0.33 |
| 13048RAF4 | California Municipal Finance Authority | CASPOL | 4.1 | 12/01/2044 | 1,000,000.00 | 1,000,071.00 | 0.33 |
| 13034DAW4 | California Housing Finance Agency | CASMFH | 3.25 | 06/01/2055 | 1,000,000.00 | 1,001,995.00 | 0.33 |
| 13034A3M0 | California Infrastructure & Economic Dev | CASDEV | 4.0 | 11/01/2041 | 1,000,000.00 | 995,233.00 | 0.33 |
| 13069BBC9 | California Enterprise Development Author | CASHSG | 5.0 | 01/15/2045 | 1,000,000.00 | 1,017,225.00 | 0.33 |
| 3137HASR8 | Freddie Mac Multifamily Ml Certificates | FRETE | 1.5 | 09/01/2037 | 9,723,512.00 | 1,007,920.00 | 0.33 |
| 13067VBV5 | California Enterprise Development Author | CASFAC | 5.5 | 11/01/2059 | 1,000,000.00 | 1,011,031.00 | 0.33 |
| 13063DVG0 | State Of California | CAS | 5.0 | 09/01/2035 | 1,000,000.00 | 1,016,933.00 | 0.33 |
| 13059TFT1 | California School Finance Authority | CASSCD | 5.0 | 07/01/2039 | 1,000,000.00 | 1,006,996.00 | 0.33 |
| 13055JAC9 | California Pollution Control Financing A | CASPOL | 3.7 | 08/01/2040 | 1,000,000.00 | 1,011,412.00 | 0.33 |
| 13059TBU2 | California School Finance Authority | CASSCD | 5.0 | 07/01/2045 | 1,000,000.00 | 1,000,040.00 | 0.33 |
| 79770GKB1 | SAN Francisco City & County Redevelopmen | SFRDEV | 4.82 | 08/01/2025 | 1,000,000.00 | 1,000,206.00 | 0.33 |
| 797299KD5 | SAN Diego Public Facilities Financing Au | SDOFAC | 5.0 | 10/15/2044 | 1,000,000.00 | 1,000,782.00 | 0.33 |
| 76914CAC2 | County Of Riverside Ca | RIV | 3.0 | 10/17/2025 | 1,000,000.00 | 999,062.00 | 0.33 |
| 913366HA1 | Regents Of The University Of California | UNVHGR | 5.0 | 05/15/2028 | 1,000,000.00 | 1,016,905.00 | 0.33 |
| 76912KCM2 | Riverside County Public Financing Author | RIVGEN | 5.25 | 11/01/2045 | 1,000,000.00 | 1,008,803.00 | 0.33 |
| 73885QGF0 | Poway Unified School District Public Fin | POWEDU | 5.0 | 09/01/2035 | 1,000,000.00 | 1,001,864.00 | 0.33 |
| 74514L3F2 | Commonwealth Of Puerto Rico | PRC | 5.38 | 07/01/2025 | 1,000,000.00 | 1,000,036.00 | 0.33 |
| 664848BZ0 | Northern California Transmission Agency | NORGEN | 5.0 | 05/01/2039 | 980,000.00 | 993,626.00 | 0.32 |
| 802385GS7 | Santa Monica Community College District | SMCHGR | — | 08/01/2028 | 1,055,000.00 | 971,540.00 | 0.32 |
| 13034DAN4 | California Housing Finance Agency | CASMFH | 3.65 | 09/01/2034 | 960,000.00 | 965,623.00 | 0.32 |
| 13048RAH0 | California Municipal Finance Authority | CASPOL | 3.95 | 10/01/2045 | 1,000,000.00 | 994,073.00 | 0.32 |
| 13049YAV3 | California Municipal Finance Authority | CASFIN | 5.0 | 05/15/2027 | 950,000.00 | 977,828.00 | 0.32 |
| 03255LBW8 | Anaheim Public Financing Authority | ANAGEN | — | 09/01/2036 | 1,500,000.00 | 991,616.00 | 0.32 |
| 13034DAQ7 | California Housing Finance Agency | CASMFH | 3.65 | 09/01/2034 | 965,000.00 | 946,144.00 | 0.31 |
| 13034DAT1 | California Housing Finance Agency | CASMFH | 3.7 | 11/01/2037 | 1,000,000.00 | 942,430.00 | 0.31 |
| 13034DAL8 | California Housing Finance Agency | CASMFH | 3.75 | 07/01/2034 | 960,000.00 | 958,438.00 | 0.31 |
| 13049YFP1 | California Municipal Finance Authority | CASFIN | 4.0 | 05/15/2046 | 1,045,000.00 | 960,342.00 | 0.31 |
| 13080SP81 | California Statewide Communities Develop | CASGEN | 4.0 | 04/01/2043 | 1,000,000.00 | 944,396.00 | 0.31 |
| 13068XKT5 | California State Public Works Board | CASFAC | 5.0 | 04/01/2034 | 800,000.00 | 914,243.00 | 0.30 |
| 13033DAG0 | California Housing Finance Agency | CASHSG | 3.75 | 03/25/2035 | 948,244.00 | 918,543.00 | 0.30 |
| 13032UNT1 | California Health Facilities Financing A | CASMED | 5.0 | 11/15/2035 | 885,000.00 | 911,965.00 | 0.30 |
| 544445JN0 | CITY Of Los Angeles Department Of Airpor | LOSAPT | 4.0 | 05/15/2044 | 1,000,000.00 | 874,695.00 | 0.29 |
| 63607WBB9 | NEW Hampshire Business Finance Authority | NFADEV | 3.93 | 07/20/2039 | 995,640.00 | 889,523.00 | 0.29 |
| 3137H9JP5 | Freddie Mac Multifamily Ml Certificates | FRETE | 0.96 | 07/01/2036 | 16,067,505.00 | 857,550.00 | 0.28 |
| 13048VXK9 | California Municipal Finance Authority | CASFIN | 4.0 | 10/01/2049 | 1,000,000.00 | 814,995.00 | 0.27 |
| 13049YCP4 | California Municipal Finance Authority | CASFIN | 5.0 | 05/15/2029 | 760,000.00 | 800,081.00 | 0.26 |
| 13063DNL8 | State Of California | CAS | 3.25 | 04/01/2045 | 1,000,000.00 | 791,844.00 | 0.26 |
| 703383AR0 | Patterson Public Financing Authority | PATGEN | 5.0 | 09/01/2039 | 745,000.00 | 792,631.00 | 0.26 |
| 735000SB8 | PORT Of Oakland | PTOTRN | 5.0 | 11/01/2026 | 750,000.00 | 771,880.00 | 0.25 |
| 13049YDH1 | California Municipal Finance Authority | CASFIN | 5.0 | 05/15/2027 | 750,000.00 | 779,799.00 | 0.25 |
| 463612ND9 | Irvine Unified School District | IRVEDU | 4.0 | 09/01/2028 | 745,000.00 | 773,183.00 | 0.25 |
| 072024WY4 | BAY Area Toll Authority | BAYTRN | 2.0 | 04/01/2056 | 750,000.00 | 720,762.00 | 0.24 |
| 544495U77 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2027 | 705,000.00 | 710,133.00 | 0.23 |
| 13078RFZ8 | California Statewide Communities Develop | CASDEV | 5.0 | 05/15/2027 | 685,000.00 | 692,973.00 | 0.23 |
| 13058TLS7 | California School Finance Authority | CASSCD | 5.0 | 08/01/2026 | 700,000.00 | 700,446.00 | 0.23 |
| 544562CS8 | LOS Angeles Housing Authority | LOSMFH | 3.25 | 02/01/2029 | 700,000.00 | 700,276.00 | 0.23 |
| 13059THF9 | California School Finance Authority | CASSCD | 5.0 | 08/01/2032 | 650,000.00 | 671,131.00 | 0.22 |
| 13059TCD9 | California School Finance Authority | CASSCD | 5.0 | 08/01/2045 | 685,000.00 | 660,283.00 | 0.22 |
| 13069BBB1 | California Enterprise Development Author | CASHSG | 5.0 | 01/15/2039 | 650,000.00 | 684,465.00 | 0.22 |
| 13016NGK4 | California County Tobacco Securitization | CASGEN | 5.0 | 06/01/2028 | 635,000.00 | 663,700.00 | 0.22 |
| 40065FED2 | GUAM Government Waterworks Authority | GMSUTL | 5.0 | 07/01/2043 | 650,000.00 | 652,491.00 | 0.21 |
| 13063EDG8 | State Of California | CAS | 5.0 | 08/01/2034 | 500,000.00 | 571,491.00 | 0.19 |
| 13048VL71 | California Municipal Finance Authority | CASFIN | 4.0 | 11/15/2028 | 595,000.00 | 595,400.00 | 0.19 |
| 13032UHX9 | California Health Facilities Financing A | CASMED | 5.0 | 08/15/2025 | 535,000.00 | 536,468.00 | 0.18 |
| 13032URD2 | California Health Facilities Financing A | CASMED | 5.0 | 11/15/2030 | 500,000.00 | 519,136.00 | 0.17 |
| 13057EHX5 | California Public Finance Authority | CASGEN | 5.0 | 06/01/2026 | 500,000.00 | 508,980.00 | 0.17 |
| 13063CXN5 | State Of California | CAS | 3.15 | 12/01/2026 | 500,000.00 | 496,844.00 | 0.16 |
| 344630RB6 | CITY Of Fontana Ca | FONGEN | 5.0 | 09/01/2034 | 500,000.00 | 500,790.00 | 0.16 |
| 54241AAX1 | LONG Beach Bond Finance Authority | LONUTL | 5.5 | 11/15/2032 | 440,000.00 | 481,335.00 | 0.16 |
| 544532CQ5 | LOS Angeles Department Of Water & Power | LOSUTL | 4.0 | 07/01/2026 | 500,000.00 | 502,368.00 | 0.16 |
| 798428AM0 | SAN Leandro Community Facilities Distric | SLDFAC | 6.5 | 09/01/2025 | 420,000.00 | 420,831.00 | 0.14 |
| 13032U2P2 | California Health Facilities Financing A | CASMED | 5.0 | 02/01/2035 | 375,000.00 | 423,683.00 | 0.14 |
| 79766DFQ7 | SAN Francisco City & County Airport Comm | SFOAPT | 5.0 | 05/01/2027 | 400,000.00 | 406,506.00 | 0.13 |
| 13033L3X3 | California Health Facilities Financing A | CASMED | 5.0 | 10/01/2027 | 330,000.00 | 330,376.00 | 0.11 |
| 5444953A0 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2026 | 320,000.00 | 325,591.00 | 0.11 |
| 533020EG4 | Lincoln Public Financing Authority | LINGEN | 6.0 | 09/02/2027 | 320,000.00 | 320,835.00 | 0.10 |
| 13059TCN7 | California School Finance Authority | CASSCD | 4.0 | 07/01/2026 | 300,000.00 | 300,053.00 | 0.10 |
| 777870VT0 | CITY Of Roseville Ca | ROSGEN | 5.0 | 09/01/2028 | 300,000.00 | 300,470.00 | 0.10 |
| 544532LV4 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2038 | 250,000.00 | 266,055.00 | 0.09 |
| 544525Q76 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2025 | 265,000.00 | 265,012.00 | 0.09 |
| 13048VBE7 | California Municipal Finance Authority | CASFIN | 5.0 | 12/31/2025 | 285,000.00 | 285,226.00 | 0.09 |
| 13048VS58 | California Municipal Finance Authority | CASFIN | 4.0 | 12/01/2043 | 300,000.00 | 273,813.00 | 0.09 |
| 544532FX7 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2026 | 200,000.00 | 202,767.00 | 0.07 |
| 888794BZ6 | Tobacco Securitization Authority Of Nort | TOBGEN | 4.0 | 06/01/2049 | 220,000.00 | 219,857.00 | 0.07 |
| 91282CLP4 | United States Treasury Note/bond | T | 3.5 | 09/30/2026 | 225,000.00 | 223,857.00 | 0.07 |
| 76913DER4 | Riverside County Infrastructure Financin | RVRFAC | 4.0 | 11/01/2037 | 190,000.00 | 190,891.00 | 0.06 |
| 544525M96 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2026 | 190,000.00 | 193,548.00 | 0.06 |
| 544525WQ7 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2026 | 160,000.00 | 162,988.00 | 0.05 |
| 13059TCB3 | California School Finance Authority | CASSCD | 4.0 | 08/01/2025 | 150,000.00 | 149,976.00 | 0.05 |
| 13049AAE3 | California Municipal Finance Authority | CASFIN | 4.0 | 06/01/2026 | 140,000.00 | 139,823.00 | 0.05 |
| 544525XT0 | LOS Angeles Department Of Water & Power | LOSUTL | 5.0 | 07/01/2026 | 160,000.00 | 162,988.00 | 0.05 |
| 800860EQ7 | Sanger Unified School District | SGREDU | 5.0 | 06/01/2052 | 85,000.00 | 80,456.00 | 0.03 |
| 735000UY5 | PORT Of Oakland | PTOTRN | 5.0 | 05/01/2028 | 30,000.00 | 31,519.00 | 0.01 |
| 735000UZ2 | PORT Of Oakland | PTOTRN | 5.0 | 05/01/2029 | 5,000.00 | 5,330.00 | 0.00 |
| TUU5 COMDT | US 2yr Note (cbt) Sep25 | TUU5 | — | 09/30/2025 | -208,023.00 | -798.00 | 0.00 |
| 130536QY4 | California Pollution Control Financing A | CASPOL | 7.0 | 07/01/2026 | 250,000.00 | 2,500.00 | 0.00 |
| 130536RA5 | California Pollution Control Financing A | CASPOL | 8.0 | 07/01/2039 | 500,000.00 | 5,000.00 | 0.00 |
| 13062T4F8 | State Of California | CAS | 5.5 | 04/01/2030 | 5,000.00 | 5,009.00 | 0.00 |
| WNU5 COMDT | US Ultra Bond Cbt Sep25 | WNU5 | — | 09/19/2025 | -7,385,750.00 | -202,914.00 | -0.07 |
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ABOUT
PGIM Fixed Income, with $862 billion in assets under management as of March 31, 2025, is a global asset manager offering active solutions across all fixed income markets. The company has offices in Newark, N.J., London, Tokyo and Singapore. At PGIM Fixed Income we believe that research-driven security selection is the most consistent strategy for adding value to client portfolios. The firm complements that base strategy with active sector rotation, duration management, and superior trade execution. Risk budgeting is central to this approach. PGIM Limited is also a subadvisor on this fund. PGIM Limited is an indirect, wholly-owned subsidiary of PGIM, Inc. (“PGIM”), the principal asset management business of Prudential Financial, Inc. (“PFI”), a company incorporated and with its principal place of business in the United States.
Jason Appleson, Robert Tipp, Lee Friedman, and John Dittemer of PGIM Fixed Income are responsible for the management of the PGIM California Muni Income Fund.
Jason Appleson, CFA
Managing Director and Head of PGIM Fixed Income's Municipal Bonds Team
Jason Appleson, CFA, FRM, is a Managing Director and Head of PGIM Fixed Income's Municipal Bond Team.
Robert Tipp, CFA
Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income
Robert Tipp, CFA, is a Managing Director, Chief Investment Strategist, and Head of Global Bonds at PGIM Fixed Income.
Lee Friedman, CFA
Principal and Portfolio Manager for PGIM's Fixed Income's U.S. Investment Grade Corporate Bond Team
Lee Friedman, CFA, is a Principal and portfolio manager for PGIM Fixed Income’s U.S. Investment Grade Corporate Bond Team.
John Dittemer
Vice President and Portfolio Manager for PGIM Fixed Income's Municipal Bond Team
|PGIM Fixed Income
John Dittemer is a Vice President and Portfolio Manager for PGIM Fixed Income's Municipal Bond Team.
AMT (Alternative Minimum Tax) is the percentage of bonds in portfolio subject to alternative minimum tax. Average Effective Maturity is a measure of maturity which takes into account the possibility of bonds being called prior to maturity. Average Maturity is the average time to maturity for a bond. Credit quality is calculated using the highest rating assigned by a nationally recognized statistical rating organization (NRSRO) such as Moody’s, S&P, or Fitch. The Not Rated category consists of securities that have not been rated by an NRSRO. If only two rating agencies are used, the lower ratings are shown. Duration measures investment risk that takes into account both a bond's interest payments and its value to maturity. Standard deviation depicts how widely returns vary around its average and is used to understand the range of returns most likely for a given fund. A higher standard deviation generally implies greater volatility. Due to data availability, statistics may not be as of the current reporting period.
Enhanced cash strategies are variations on traditional money market vehicles. They are designed to provide liquidity and principal preservation, but with more of an emphasis on seeking returns that are superior to those of traditional money market offerings.
Source: Benchmarks - Lipper Inc.; Statistics - Morningstar Inc.; All other data from PGIM, Inc.
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Fund Literature
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