<SEC-DOCUMENT>0001821268-21-000235.txt : 20210506
<SEC-HEADER>0001821268-21-000235.hdr.sgml : 20210506
<ACCEPTANCE-DATETIME>20210506153414
ACCESSION NUMBER:		0001821268-21-000235
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20210228
FILED AS OF DATE:		20210506
DATE AS OF CHANGE:		20210506
EFFECTIVENESS DATE:		20210506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NUVEEN CALIFORNIA AMT-FREE QUALITY MUNICIPAL INCOME FUND
		CENTRAL INDEX KEY:			0001195738
		IRS NUMBER:				030487017
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21212
		FILM NUMBER:		21897436

	BUSINESS ADDRESS:	
		STREET 1:		333 WEST WACKER DR.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3129178146

	MAIL ADDRESS:	
		STREET 1:		333 WEST WACKER DR.
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN CALIFORNIA AMT-FREE MUNICIPAL INCOME FUND
		DATE OF NAME CHANGE:	20120515

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NUVEEN INSURED CALIFORNIA TAX FREE ADVANTAGE MUNICIPAL FUND
		DATE OF NAME CHANGE:	20021003
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>ncsr.htm
<DESCRIPTION>NKX
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  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">UNITED STATES</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">SECURITIES AND EXCHANGE COMMISSION</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Washington, D.C. 20549</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">FORM N-CSR</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">CERTIFIED SHAREHOLDER REPORT OF</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">REGISTERED MANAGEMENT INVESTMENT COMPANIES</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Investment Company Act file number <font style="TEXT-DECORATION: underline">811-21212</font></div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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  <div style="text-align: center; margin-left: 0pt; text-decoration: underline; display: block; margin-right: 0pt; text-indent: 0pt;">Nuveen California AMT-Free Quality Municipal Income Fund</div>
  <div style="text-align: center; display: block; text-indent: 0pt;">(Exact name of registrant as specified in charter)</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Nuveen Investments</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">333 West Wacker Drive</div>
  <div style="text-align: center; margin-left: 0pt; text-decoration: underline; display: block; margin-right: 0pt; text-indent: 0pt;">Chicago, IL 60606</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Address of principal executive offices) (Zip code)</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Mark L. Winget</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Nuveen Investments</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">333 West Wacker Drive</div>
  <div style="text-align: center; margin-left: 0pt; text-decoration: underline; display: block; margin-right: 0pt; text-indent: 0pt;">Chicago, IL 60606</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Name and address of agent for service)</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Registrant&#8217;s telephone number, including area code: <font style="TEXT-DECORATION: underline; DISPLAY: inline">(312) 917-7700</font></div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
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  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date of fiscal year end: Date: <font style="TEXT-DECORATION: underline; DISPLAY: inline">February 28</font></div>
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  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date of reporting period: <font style="TEXT-DECORATION: underline; DISPLAY: inline"><font style="TEXT-DECORATION: underline; DISPLAY: inline">February





        28,</font> 2021</font></div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any
    report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and
    policymaking roles.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to
    respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (&#8220;OMB&#8221;) control number. Please direct comments concerning the accuracy of the information collection burden
    estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C.
    ss. 3507.</div>
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  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 1. REPORTS TO STOCKHOLDERS.</div>
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      </div>
      <div><img src="nca-edgarx1x1.jpg">
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        <div><br>
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      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 36pt; font-weight: bold;">Life is Complex.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt;">Nuveen makes things e-simple.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">It only takes a minute to sign up for e-Reports. Once enrolled, you&#8217;ll receive an e-mail as soon as your Nuveen Fund information is ready&#8212;no more waiting for delivery by regular
        mail. Just click on the link within the e-mail to see the report and save it on your computer if you wish.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 14pt; font-weight: bold;">Free e-Reports</font><br>
        <font style="font-size: 14pt; font-weight: bold;">right to your e-mail!</font><br>
        <br>
        <br>
        <font style="font-weight: bold;">www.investordelivery.com</font><br>
        If you receive your Nuveen Fund<br>
        dividends and statements from your<br>
        financial professional or brokerage account.<br>
        <br>
        <br>
        <font style="font-size: 14pt; font-weight: bold;">or</font><br>
        <br>
        <br>
        <font style="font-weight: bold;">www.nuveen.com/client-access</font><br>
        If you receive your Nuveen Fund<br>
        dividends and statements directly from<br>
        Nuveen.<br>
        <br>
        <br>
        NOT FDIC INSURED MAY LOSE<br>
        VALUE NO BANK GUARANTEE</div>
      <div><img src="nca-edgarx2x1.jpg"></div>
      <div><br>
      </div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Table of Contents<a name="TableofContents"><!--Anchor--></a></div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z51e51abf89f64107bcf42d893d08418d">

          <tr>
            <td style="width: 72.72%; vertical-align: middle;">&#160;</td>
            <td style="width: 27.28%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#ChairsLettertoShareholder">Chair&#8217;s Letter to Shareholders&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#PortfolioManagersComments">Portfolio Manager&#8217;s Comments&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">5&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#FundLeverage">Fund Leverage&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#CommonShareInformation">Common Share Information&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">12&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#PerformanceOverview">Performance Overview and Holding Summaries&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#ShareholderMeetingReport">Shareholder Meeting Report&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">20&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#ReportofIndependentRegist">Report of Independent Registered Public Accounting Firm&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">21&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#PortfolioofInvestments">Portfolios of Investments&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">22&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#StatementofAssetsandLiabi">Statement of Assets and Liabilities&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">54&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#StatementofOperations">Statement of Operations&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">55&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#StatementofChangesinNetAs">Statement of Changes in Net Assets&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">56&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#StatementofCashFlows">Statement of Cash Flows&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">58&#160;</div>
            </td>
          </tr>
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            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#FinancialHighlights">Financial Highlights&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">60&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#NotestoFinancialStatement">Notes to Financial Statements&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">65&#160;</div>
            </td>
          </tr>
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            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#ShareholderUpdateUnaudite">Shareholder Update&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">77&#160;</div>
            </td>
          </tr>
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            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#AdditionalFundInformation">Additional Fund Information&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">99&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#GlossaryofTerms">Glossary of Terms Used in this Report&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">100&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom;">
              <div><a href="#AnnualInvestmentManagemen">Annual Investment Management Agreement Approval Process&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom;">
              <div style="text-align: right;">102&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><a href="#BoardMembersOfficers">Board Members &amp; Officers&#160;</a></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">103&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">3</div>
      <div>&#160;</div>
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          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div><a href="#TableofContents"> </a><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;"><font style="font-size: 24pt;">Chair&#8217;s Letter</font><br>
        <font style="font-size: 24pt;">to Shareholders<a name="ChairsLettertoShareholder"><!--Anchor--></a></font></div>
      <div><img src="nca-edgarx4x1.jpg">
        <div><br>
        </div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Dear Shareholders,</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">A year has passed since the World Health Organization declared COVID-19 a global pandemic in March 2020. A year of global economic recession, financial market turbulence and some immeasurable
        losses. A year later the health crisis persists but the widespread distribution of vaccines in the U.S. is enabling us to look forward to what our &#8220;new normal&#8221; might be. In the meantime, extraordinary economic interventions by governments and
        central banks, around the world, are helping to bridge the gap.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">With vaccine progress and economic stimulus beginning to provide real benefits to the global economy, markets are anticipating a strong rebound in growth, especially in the U.S. To extend relief
        programs enacted earlier in the crisis, the U.S. government passed $900 billion in aid to individuals and businesses in late December 2020. Another $1.9 trillion relief package was signed into law in March 2021 providing extended unemployment
        benefits, direct payments to individuals and families, assistance to state and local municipalities, grants to education and public health, and other support. The U.S. Federal Reserve, along with other central banks around the world, has pledged to
        keep monetary conditions accommodative for as long as necessary, as they consider the recent increase in inflation risks as transitory.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">While the markets&#8217; longer-term outlook has brightened, we expect intermittent bouts of volatility to continue. COVID-19 cases are still elevated in some regions, as more virulent strains have spread
        and vaccination rollouts have been uneven around the world. The recovery hinges on controlling the virus, and estimates vary considerably on when economic activity might be fully restored. While achieving sufficient inoculation of the population
        depends on many variables, including logistics, public confidence, real-world efficacy and the emergence of variant virus strains, vaccination rates are gathering pace and three options (Pfizer/BioNTech, Moderna and Johnson &amp; Johnson) were
        authorized for use in the U.S. By early April the U.S. was administering an average of 3 million doses per day, up from 1.3 million per day on average at the beginning of February, according to Bloomberg&#8217;s vaccine tracker. On the political front,
        the Biden administration&#8217;s full policy agenda and the potential for Congressional gridlock remain to be seen, either of which could cause investment outlooks to shift. Nevertheless, short-term market fluctuations can provide opportunities to invest
        in new ideas as well as upgrade existing positioning within our goal of providing long-term value for our shareholders. For more than 120 years, the careful consideration of risk and reward has guided Nuveen&#8217;s focus on delivering long-term results
        to our shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">If you have concerns about what&#8217;s coming next, it can be an opportune time to assess your portfolio&#8217;s resilience and readiness. We encourage you to review your time horizon, risk tolerance and
        investment goals with your financial professional. On behalf of the other members of the Nuveen Fund Board, we look forward to continuing to earn your trust in the months and years ahead.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Sincerely,</div>
      <div><img src="nca-edgarx4x2.jpg">
        <div><br>
        </div>
      </div>
      <div style="margin: 0px;">Terence J. Toth<br>
        Chair of the Board<br>
        April 23, 2021</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">4</div>
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          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Portfolio Manager&#8217;s Comments<a name="PortfolioManagersComments"><!--Anchor--></a></div>
      <div style="margin: 12pt 0px 0px; font-size: 14pt;">Nuveen California Municipal Value Fund (NCA)</div>
      <div style="margin: 0px 0px; font-style: italic;">(formerly Nuveen California Municipal Value Fund, Inc.)</div>
      <div style="margin: 0px 0px; font-size: 14pt;">Nuveen California AMT-Free Quality Municipal Income Fund (NKX) </div>
      <div style="margin: 0px 0px 12pt; font-size: 14pt;">Nuveen California Quality Municipal Income Fund (NAC)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">These Funds feature portfolio management by Nuveen Asset Management, LLC (NAM), an affiliate of Nuveen Fund Advisors, LLC, the Funds&#8217; investment adviser. Portfolio manager Scott
        R. Romans, PhD, reviews U.S. economic and market conditions, key investment strategies and the twelve-month performance of these Nuveen California Municipal Funds. Scott has managed NCA, NKX and NAC since 2003.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">What factors affected the U.S. economy and the market during the twelve-month annual reporting period ended February 28, 2021?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The U.S. economy rebounded more quickly than expected from the deep downturn caused by the COVID-19 crisis and containment measures, but had not made a full recovery by the end of 2020. The economy
        fell into a deep recession in February 2020 due to the restrictions on business and social activity to mitigate the COVID-19 spread. In the first and second quarters of 2020, annualized gross domestic product (GDP) shrank 5% and 31.4%,
        respectively. Government relief programs provided significant aid to individuals and businesses as the economy began reopening in May 2020, which helped the economy bounce back strongly over the second half of the year. U.S. GDP grew 4.3% on an
        annualized basis in the fourth quarter of 2020 and 33.4% (annualized) in the third quarter, but remained down 3.5% in 2020 overall (from the 2019 annual level to the 2020 annual level) as measured by the Bureau of Economic Analysis &#8220;third&#8221;
        estimate. GDP measures the value of goods and services produced by the nation&#8217;s economy less the value of the goods and services used up in production, adjusted for price changes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Although, consumer spending, the largest driver of the economy, remained resilient despite the disruption caused by the health and economic crisis, it declined significantly as unemployment rose
        sharply starting in March 2020. These measures rebounded markedly in the second half of 2020, although the momentum slowed toward the end of 2020 amid a resurgence of COVID-19 infections. As of February 2021, slightly more than half of the 22
        million jobs lost in March and April 2020 have been recovered resulting in an unemployment rate of 6.2% in February 2021 as reported by the Bureau of Labor Statistics, up from 3.5% in February 2020. The average hourly earnings rate increased,
        growing at an annualized rate of 5.3% in February 2021, despite the</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or an investment strategy and is not provided in a
        fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor&#8217;s
        objectives and circumstances and in consultation with his or her advisors.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Certain statements in this report are forward-looking statements. Discussions of specific investments are for illustration only and are not intended as recommendations of individual investments. The
        forward-looking statements and other views expressed herein are those of the portfolio manager as of the date of this report. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements,
        and the views expressed herein are subject to change at any time, due to numerous market and other factors. The Funds disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group (S&amp;P), Moody&#8217;s Investors
        Service, Inc. (Moody&#8217;s) or Fitch, Inc. (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment
        grade ratings, while BB, B, CCC, CC, C and D are below investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Bond insurance guarantees only the payment of principal and interest on the bond when due, and not the value of the bonds themselves, which will fluctuate with the bond market and the financial
        success of the issuer and the insurer. Insurance relates specifically to the bonds in the portfolio and not to the share prices of a Fund. No representation is made as to the insurers&#8217; ability to meet their commitments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">5</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Portfolio Manager&#8217;s Comments (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">spike in unemployment. Earnings data was skewed by the concentration of job losses in lower-wage work, which effectively eliminated most of the low-wage data, resulting in an average of mostly
        higher numbers. The overall trend of inflation remained muted, as decreases in apparel, transportation and pharmaceutical drug prices offset an increase in food, energy and used car prices. The Bureau of Labor Statistics said the Consumer Price
        Index (CPI) increased 1.7% over the twelve-month reporting period ended February 28, 2021, before seasonal adjustment.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">With the onset of the COVID-19 crisis, the Federal Reserve (Fed) enacted an array of emergency measures in March 2020 to stabilize the financial system and support the markets, including cutting its
        main interest rate to near zero, offering lending programs to aid small and large companies and allowing unlimited bond purchases, known as quantitative easing. In August 2020, the Fed announced a change in its inflation targeting policy, moving
        from a program of absolute targeting to an average inflation targeting policy. Under this regime, the Fed will tolerate the inflation rate temporarily overshooting the target rate to offset periods of below-target inflation, so that inflation
        averages a 2% target rate over time. Fed officials remained cautious, acknowledging the economy&#8217;s significant improvement from the COVID-19 recession but also expressing concerns about near-term weakness, and left monetary policy unchanged over the
        remainder of their meetings in 2020 and early 2021.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The federal government also intervened with historic relief measures, starting with three aid packages in March and April 2020. These included $2 trillion allocated across direct payments to
        Americans, an expansion of unemployment insurance, loans to large and small businesses, funding to hospitals and health agencies and support to state and local governments, and more than $100&#160;billion in funding to health agencies and employers
        offering paid leave. In December 2020, the government enacted a $900&#160;billion relief package extending some of these programs, and followed in March 2021 with another $1.9 trillion deal providing support to individuals and families, small
        businesses, state and local governments, education and public health/vaccination.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The COVID-19 crisis rapidly dwarfed all other market concerns starting in late February 2020. Equity and commodity markets sold off and safe-haven assets rallied in March 2020 as countries initiated
        quarantines, restricted travel and shuttered factories and businesses. The potential economic shock was particularly difficult to assess at the time, which amplified market volatility. An ill-timed oil price war between the Organization of the
        Petroleum Exporting Countries (OPEC) and non-OPEC member Russia, which caused oil prices to plunge in March 2020, exacerbated the market sell-off. At year end, the announcement of high efficacy rates in several COVID-19 vaccine trials, followed by
        regulatory authorizations and public vaccination drives across Western countries, improved the outlook for 2021 and led to risk-on sentiment in the markets. Market volatility picked up in early 2021, however, as a stronger economic outlook and
        improving vaccination rates led to rising inflation concerns and an increase in long-term interest rates.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Geopolitical uncertainty remained elevated during 2020 in anticipation of the U.S. presidential election in November 2020 and the Brexit transition period set to expire in December 2020. However,
        political risks began to ease with the election of President Joe Biden and a final deal struck between the European Union and U.K. before the end of the transition period. Although China and the U.S. signed a &#8220;phase one&#8221; trade deal in January 2020,
        tensions continued to flare over other trade and technology/security issues, Hong Kong&#8217;s sovereignty and the management of the COVID-19 crisis.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Despite the severe sell-off in March 2020 and an abrupt increase in interest rates toward the end of the reporting period, the broad municipal bond market managed positive performance in the
        twelve-month reporting period overall. For most of the reporting period, a significant decline in interest rates drove municipal bond prices higher, with positive technical and fundamental conditions also supporting credit spread tightening. This
        contrasted sharply with the beginning of the reporting period when coronavirus risks drove U.S. Treasury yields to historic lows and rate volatility increased sharply during a six-week period from late February to the end of March 2020. As
        liquidity became stressed, investors began to liquidate any asset possible, including municipal bonds. Municipal bond prices declined rapidly (and yields spiked higher), amid rampant selling across both the high grade</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">6</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt;">and high yield segments that was exacerbated in some cases by exchange-traded fund and closed-end fund selling. Municipal bond prices became severely dislocated from Treasury prices. Credit spreads
        widened significantly during the March 2020 sell-off, ending the month above their long-term average. Ongoing monetary and fiscal interventions from the Fed and U.S. government helped the market stabilize, then recover over the course of 2020.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The municipal yield curve steepened over this reporting period, initially driven by a pronounced drop in yields at the short end of the curve. Then a new steepening cycle began in early 2021 as
        markets priced in a stronger economic recovery and higher inflation, fueled by increasing vaccination rates and more federal stimulus, which drove longer-term interest rates higher.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Municipal bond gross issuance nationwide remained strong in the reporting period, with deals postponed rather than canceled during the COVID-driven sell-off. The overall low level of interest rates
        has encouraged issuers to continue to actively refund their outstanding debt. In these transactions the issuers are issuing new bonds and taking the bond proceeds and redeeming (calling) old bonds. These refunding transactions have ranged from 30%
        to 60% of total issuance over the past few years. Thus, the net issuance (all bonds issued less bonds redeemed) is actually much lower than the gross issuance. This lower net issuance was an overall positive technical factor on municipal bond
        investment performance in recent years. Notably, taxable municipal bond issuance has increased meaningfully since the advent of the Tax Cut and Jobs Act of 2017, which prohibits municipal issuers from issuing new tax-exempt bonds to pre-refund
        existing tax-exempt bonds. However, municipalities have taken advantage of the low interest rate environment and the strong demand for yield to issue taxable municipal debt, enabling them to save on net interest costs while adding to the scarcity
        value of tax-exempt issues.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">While municipal bond funds suffered significant outflows in March 2020, particularly from high yield municipal bond funds, fund flows rebounded strongly over the remainder of 2020 and sustained a
        robust pace through early 2021. Demand has been resilient even though municipal defaults, as expected, have increased somewhat during the COVID-19 crisis. Notably, default activity has occurred mainly in sectors with greater COVID-19 risk exposure,
        such as senior living, corporate-backed and real estate-backed. Moreover, while there are some pockets of municipal credit ratings stress, a wave of downgrades has not materialized. With interest rates in the U.S. and globally still near all-time
        lows, even after the recent increase in long-term rates, the appetite for yield has continued to drive investors toward higher after-tax yielding assets, including U.S. municipal bonds. Additionally, as tax payers have adjusted to the 2017 tax law,
        which caps the state and local tax (SALT) deduction for individuals, there has been increased demand for tax-exempt municipal bonds, especially in states with high income taxes and/or property taxes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">How were the economic and market environments in California during the twelve-month reporting period ended February 28, 2021?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">California&#8217;s $3.1 trillion economy is the largest in the United States and ranks fifth in the world, according to the International Monetary Fund. California job growth regained some of the lost
        jobs over the summer but lags the national average. California&#8217;s economy is driven by high technology, international trade and tourism but is also supplemented by better residential construction and real estate conditions. The state&#8217;s unemployment
        rate was 8.5% as of February 2021, down from its recent peak of 16.2% in April 2020 but still high compared to pre-COVID-19 crisis unemployment rate of 4.3% in February 2020 and higher than the nation&#8217;s 6.2% as of February 2021. According to the
        S&amp;P CoreLogic Case-Shiller Index, home prices in San Diego, Los Angeles and San Francisco rose 14.2%, 10.8% and 9.5%, respectively, over the twelve months ended January 2021 (most recent data available at the time this report was prepared),
        compared with an average increase of 11.2% nationally. The enacted Fiscal Year 2021 general fund budget totals $133.9 billion, which is 8.9% lower than the revised Fiscal Year 2020 budget. The Fiscal Year 2021 Budget projected a $54.3 billion
        deficit due to the economic fallout from the COVID-19 crisis shutdowns. The state made various cuts to education, health and human services, and government operations, which include drawing down on reserves, borrowing</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">7</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Portfolio Manager&#8217;s Comments (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">from internal funds, deferred revenue to schools and making temporary tax law changes to fill the gap. Governor Newsom released his Budget Proposal for Fiscal Year 2021-2022 in January 2021 totaling
        $154.51 billion. This is up 5.5% over revised Fiscal Year 2021 Budget. Revenues are nearly back to pre-COVID-19 crisis levels and state costs have not risen as dramatically as anticipated, and as a result, the state experiences a significant
        windfall of $15 billion to be allocated toward the Fiscal Year 2022 Budget. The state plans to use those funds on one-time or temporary spending, making deposits to reserves, reducing taxes to low income taxpayers and repaying debts and liabilities
        made in Fiscal Year 2021 and additional payments to CalPERS (California Public Employees&#8217; Retirement System). The revised budget will come in May 2021. The Budget proposal does not factor in federal stimulus enacted in December 2020 nor the
        American Rescue Plan Act funding. California is estimated to receive $42 billion under the American Rescue Plan: $26 billion for the state and $16 billion for its local governments. For the state of California, its Fiscal Year end is June 30, 2021.
        Due to the COVID-19 crisis, the state&#8217;s budget will be impacted to a varying degree as tax receipts are reduced and the expense to fight the virus increases. As of February 2021, Standard &amp; Poor&#8217;s affirmed its AA-/Stable rating and outlook on
        California general obligation (GO) debt and Moody&#8217;s Investors Service affirmed its state GO rating of Aa2 with a stable outlook. Moody&#8217;s upgraded the state&#8217;s GO on October 14, 2019 to Aa2, citing its &#8220;continued expansion of the state&#8217;s massive,
        diverse and dynamic economy and corresponding growth in revenue. The action also recognizes the state government&#8217;s disciplined approach to managing revenue growth indicated by its use of surplus funds to build reserves and pay down long-term
        liabilities.&#8221;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">What key strategies were used to manage these Funds during the twelve-month reporting period ended February 28, 2021?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund seeks to provide current income exempt from both regular federal and California state income taxes, and in the case of NKX the alternative minimum tax (&#8220;AMT&#8221;) applicable to individuals, by
        investing primarily in a portfolio of municipal obligations issued by state and local government authorities within the state of California or certain U.S. territories. Under normal market conditions, each Fund invests at least 80% of the sum of
        its net assets and the amount of any borrowings for investment purposes in municipal bonds that pay interest that is exempt from regular federal personal income tax and California&#8217;s personal income tax. Each Fund may invest up to 20% in municipal
        securities that are exempt from regular federal income tax, but not from California&#8217;s income tax if, in the Sub-Adviser&#8217;s judgement, such purchases are expected to enhance the Fund&#8217;s after-tax total return potential. To the extent that the Funds
        invest in bonds of municipal issuers located in other states, each Fund may have income that is not exempt from state personal income tax. NCA&#8217;s use of tender option bonds to more efficiently implement its investment strategy may create up to 10%
        effective leverage (although the Fund had no such leverage at the end of the reporting period).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The twelve-month reporting period was bookended by challenging conditions in the municipal bond market, with the advent of the COVID-19 crisis at the beginning of the reporting period and a sudden
        increase in long-term interest rates at the end of the reporting period. The health and economic crisis and the anticipated recovery from the COVID-19 crisis recession contributed to elevated interest rate volatility and considerable swings in
        municipal market valuations during this reporting period. Despite these fluctuations, municipal yields ended the reporting period slightly higher than where they began and credit spreads largely recovered from the dramatic widening seen at the peak
        of the market sell-off in March-April 2020. The municipal yield curve steepened over the reporting period as a whole, with the market pricing in the prospects for a strengthening economic recovery aided by massive fiscal stimulus, accommodative
        monetary policy and vaccination progress. The California municipal market underper-formed the national market during the reporting period, as measured by the S&amp;P Municipal Bond California Index.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds&#8217; continued to take a bottom-up approach to discovering sectors that appeared undervalued as well as individual credits that had the potential to perform well over the long term. The Funds
        trading activity continued to focus on pursuing each Funds&#8217; investment objectives. Broadly speaking, the prevailing market environment was favorable for the Funds to pursue both bond</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">8</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt;">swapping and bond rotation strategies during the reporting period. The Funds&#8217; employed a tax loss swapping strategy, which entails selling depreciated bonds with lower yields and buying similarly
        structured but higher yielding bonds. For example, the Funds&#8217; sold and then bought the same name with a longer maturity structure, which in effect offered a higher yield for the same credit, or sold a position to replace it with a similar name bond
        or structure as the prevailing yields moved higher. This approach was implemented to enhance the Funds&#8217; income earning capability and seek to make the Funds more tax efficient. The Funds&#8217; bond rotation strategy involved selling a higher quality,
        lower yielding bond to buy a lower rated, higher yielding bond, when the valuations looked relatively more favorable for the lower rated bond.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Trading activity during this reporting period resulted in net additions to airports and airport-related projects, multi-family housing, health care, charter schools and Puerto Rico (namely in the
        sales tax revenue bonds commonly known as COFINAs). We should also note that because closed ends funds do not need to manage cash to meet investor redemptions, the Funds weren&#8217;t forced to sell positions during periods of market turbulence.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of February 28, 2021, NKX and NAC continued to use inverse floating rate securities. The Funds employ inverse floaters for a variety of reasons, including duration management, income enhancement
        and total return enhancement.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">How did the Funds perform during the twelve-month reporting period ended February 28, 2021?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The tables in the Performance Overview and Holding Summaries section of this report provides total returns at net asset value (NAV) for the period ended February 28, 2021. Each Fund&#8217;s total returns
        at net asset value (NAV) are compared with the performance of corresponding market indexes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For the twelve-month reporting period ended February 28, 2021, the total returns at common share NAV for all three Funds underperformed the returns for the S&amp;P Municipal Bond California Index.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds&#8217; duration and yield curve positioning was disadvantageous during this reporting period. The Funds emphasis on longer duration bonds, which offer comparatively higher yields, was a headwind
        to performance as longer duration bonds underperformed shorter duration bonds during this reporting period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Helping to offset the negative impact of duration and yield curve positioning was the Funds favorable credit quality positioning. The Funds continued to emphasize lower rated, higher yielding bonds
        and sectors, including overweight allocations in BBB rated and below investment grade credit, which generally performed better than high grade, low yielding bonds and sectors.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">On a sector basis, the strongest performing areas of the California municipal market were tobacco, other revenue, health care and pre-refunded bonds. Conversely, the weakest performing sectors were
        COVID-19 crisis sensitive sectors such as education, transportation (airports) and health care (primarily the life care segment), where the perception of ongoing credit concerns related to the health crisis weighed on valuations. The industrial
        development revenue sector was also among the bottom performing sectors because of the uncertainty about economic growth and a downturn in commodity prices prevalent earlier in the health crisis.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In addition, the use of regulatory leverage was a factor affecting the performance of NKX and NAC. NCA does not use regulatory leverage. Leverage is discussed in more detail later in the Fund
        Leverage section of this report.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">9</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Fund Leverage<a name="FundLeverage"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">IMPACT OF THE FUNDS&#8217; LEVERAGE STRATEGIES ON PERFORMANCE</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">One important factor impacting the returns of the Funds&#8217; common shares relative to their comparative benchmarks was the Funds&#8217; use of leverage through their issuance of preferred shares and/or
        investments in inverse floating rate securities, which represent leveraged investments in underlying bonds. The Funds use leverage because our research has shown that, over time, leveraging provides opportunities for additional income. The
        opportunity arises when short-term rates that the Fund pays on its leveraging instruments are lower than the interest the Fund earns on its portfolio of long-term bonds that it has bought with the proceeds of that leverage. This has been
        particularly true in the recent market environment where short-term rates have been low by historical standards.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">However, use of leverage can expose Fund common shares to additional price volatility. When a Fund uses leverage, the Fund&#8217;s common shares will experience a greater increase in their net asset value
        if the municipal bonds acquired through the use of leverage increase in value, but will also experience a correspondingly larger decline in their net asset value if the bonds acquired through leverage decline in value. All this will make the
        shares&#8217; total return performance more variable, over time.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In addition, common share income in levered funds will typically decrease in comparison to unlevered funds when short-term interest rates increase and increase when short-term interest rates
        decrease. In recent quarters, fund leverage expenses have generally tracked the overall movement of short-term tax-exempt interest rates. While fund leverage expenses are somewhat higher than their recent lows, leverage nevertheless continues to
        provide the opportunity for incremental common share income, particularly over longer-term periods.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Leverage from issuance of preferred shares and the use of leverage through inverse floating rate securities had a negative impact on the performance of NKX and NAC over the reporting period.</div>
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              <div>As of February 28, 2021, the Funds&#8217; percentages of leverage are as shown in the accompanying table.&#160;</div>
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              <div>&#160;</div>
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              <div style="text-align: right; font-weight: bold;">NCA&#160;</div>
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              <div style="text-align: right; font-weight: bold;">NKX&#160;</div>
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              <div style="text-align: right; font-weight: bold;">NAC&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 45.42%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Effective Leverage*&#160;</div>
            </td>
            <td style="width: 38.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.00%&#160;</div>
            </td>
            <td style="width: 8.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">37.24%&#160;</div>
            </td>
            <td style="width: 8.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">36.27%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 45.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Regulatory Leverage*&#160;</div>
            </td>
            <td style="width: 38.2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.00%&#160;</div>
            </td>
            <td style="width: 8.19%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">35.58%&#160;</div>
            </td>
            <td style="width: 8.19%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">35.68%&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z309763703937416f883a4dff6340944c">

          <tr>
            <td nowrap="nowrap" style="width: 4.14%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.86%; vertical-align: middle;">
              <div>Effective Leverage is a Fund&#8217;s effective economic leverage, and includes both regulatory leverage and the leverage effects of certain derivative and other investments in a Fund&#8217;s portfolio that increase the Fund&#8217;s investment exposure.
                Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage. Regulatory leverage consists of preferred shares issued or borrowings of
                a Fund. Both of these are part of a Fund&#8217;s capital structure. A Fund, however, may from time to time borrow on a typically transient basis in connection with its day-to-day operations, primarily in connection with the need to settle
                portfolio trades. Such incidental borrowings are excluded from the calculation of a Fund&#8217;s effective leverage ratio. Regulatory leverage is subject to asset coverage limits set forth in the Investment Company Act of 1940.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">10</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">THE FUNDS&#8217; REGULATORY LEVERAGE</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of February 28, 2021, the following Funds have issued and outstanding preferred shares as shown in the accompanying table.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As mentioned previously, NCA do not use regulatory leverage.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z84203d8436da43948324ba61aa61d6df">

          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Variable Rate&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Variable Rate&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Preferred*&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Remarketed Preferred**&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Shares&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Shares&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Issued at&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Issued at&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Liquidation&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right; font-weight: bold;">Liquidation&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="font-weight: bold;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Preference&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Preference&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Total&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>NKX&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$432,600,000&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 432,600,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>NAC&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">$729,900,000&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">$547,700,000&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">$1,277,600,000&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z27613033310942d2b5a81316fea3dbb7">

          <tr>
            <td nowrap="nowrap" style="width: 4.76%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.24%; vertical-align: middle;">
              <div>Preferred shares of the Fund featuring a floating rate dividend based on a predetermined formula or spread to an index rate. Includes the following preferred shares AMTP, iMTP, MFP-VRM and VRDP in Special Rate Mode, where applicable. See
                Notes to Financial Statements, Note 5 &#8211; Fund Shares, for further details.</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 4.76%; vertical-align: top;">
              <div>**&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.24%; vertical-align: middle;">
              <div>Preferred shares of the Fund featuring floating rate dividends set by a remarketing agent via a regular remarketing. Includes the following preferred shares VRDP not in Special Rate Mode, MFP- VRRM and MFP-VRDM, where applicable. See
                Notes to Financial Statements, Note 5 &#8211; Fund Shares, for further details.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Refer to Notes to Financial Statements, Note 5 &#8212; Fund Shares, for further details on preferred shares and each Fund&#8217;s respective transactions.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">11</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Common Share Information<a name="CommonShareInformation"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">COMMON SHARE DISTRIBUTION INFORMATION</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The following information regarding the Funds&#8217; distributions is current as of February 28, 2021. Each Fund&#8217;s distribution levels may vary over time based on each Fund&#8217;s investment activity and
        portfolio investments value changes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the current reporting period, each Fund&#8217;s distributions to common shareholders were as shown in the accompanying table.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z9c632c55b08c475787aa81ade82ade97">

          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div style="font-weight: bold;">&#160;</div>
            </td>
            <td colspan="3" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-weight: bold;">Per Common Share Amounts&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">Monthly Distributions (Ex-Dividend Date)&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NCA&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NKX&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NAC&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>March 2020&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$0.0515&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$0.0520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>April&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0515&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>May&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0515&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>June&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>July&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>August&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>September&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>October&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>November&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>December&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>January&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>February 2021&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.0265&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.0545&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-weight: bold;">Total Distributions from Net Investment Income&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$0.3180&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$0.6450&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$0.6365&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">Yields&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Market Yield*&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.11%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.32%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.49%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Taxable-Equivalent Yield*&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">6.79%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">9.36%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">9.75%&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6b9f386a77304fdfa03bed8e99bb9571">

          <tr>
            <td nowrap="nowrap" style="width: 4.14%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.86%; vertical-align: middle;">
              <div>Market Yield is based on the Fund&#8217;s current annualized monthly distribution divided by the Fund&#8217;s current market price as of the end of the reporting period. Taxable-Equivalent Yield represents the yield that must be earned on a fully
                taxable investment in order to equal the yield of the Fund on an after-tax basis. It is based on a combined federal and state income tax rate of 54.1%. Your actual combined federal and state income tax rate may differ from the assumed rate.
                The Taxable-Equivalent Yield also takes into account the percentage of the Fund&#8217;s income generated and paid by the Fund (based on payments made during the previous calendar year) that was either exempt from federal income tax but not from
                state income tax (e.g., income from an out-of-state munic- ipal bond), or was exempt from neither federal nor state income tax. Separately, if the comparison were instead to investments that generate qualified dividend income, which is
                taxable at a rate lower than an individual&#8217;s ordinary graduated tax rate, the fund&#8217;s Taxable-Equivalent Yield would be lower.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund seeks to pay regular monthly dividends out of its net investment income at a rate that reflects its past and projected net income performance. To permit each Fund to maintain a more stable
        monthly dividend, the Fund may pay dividends at a rate that may be more or less than the amount of net income actually earned by the Fund during the period. Distributions to shareholders are determined on a tax basis, which may differ from amounts
        recorded in the accounting records. In instances where the monthly dividend exceeds the earned net investment income, the Fund would report a negative undistributed net ordinary income. Refer to Note 6 &#8211; Income Tax Information for additional
        information regarding the amounts of undistributed net ordinary income and undistributed net long-term capital gains and the character of the actual distributions paid by the Fund during the period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">All monthly dividends paid by each Fund during the current reporting period were paid from net investment income. If a portion of the Fund&#8217;s monthly distributions is sourced or comprised of elements
        other than net investment income, including capital gains and/or a return of capital, shareholders will be notified of those sources. For financial reporting purposes, the per share amounts of each Fund&#8217;s distributions for the reporting period are
        presented in this report&#8217;s Financial Highlights. For income tax purposes, distribution information for each Fund as of its most recent tax year end is presented in Note 6 &#8211; Income Tax Information within the Notes to Financial Statements of this
        report.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">12</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">NUVEEN CLOSED-END FUND DISTRIBUTION AMOUNTS</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Nuveen Closed-End Funds&#8217; monthly and quarterly periodic distributions to shareholders are posted on www.nuveen.com and can be found on Nuveen&#8217;s enhanced closed-end fund resource page, which is
        at https://www.nuveen.com/resource-center-closed-endfunds, along with other Nuveen closed-end fund product updates. To ensure timely access to the latest information, shareholders may use a subscribe function, which can be activated at this web
        page (https://www.nuveen.com/subscriptions).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">COMMON SHARE EQUITY SHELF PROGRAM</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the current reporting period, NKX was authorized by the Securities and Exchange Commission to issue additional common shares through an equity shelf program (&#8220;Shelf Offering&#8221;). Under this
        program NKX, subject to market conditions, may raise additional capital from time to time in varying amounts and offering methods at a net price at or above the Fund&#8217;s NAV per common share. Under the Shelf Offering, NKX was authorized to issue
        additional shares as shown in the accompanying table.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z921eacaac7624ad2a558b2ae1cbec310">

          <tr>
            <td style="width: 75.76%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 24.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;">NKX&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 75.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Additional authorized common shares&#160;</div>
            </td>
            <td style="width: 24.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,100,000*&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 75.76%; vertical-align: bottom;">
              <div>* Represents additional authorized common shares for the period July 10, 2020 through February 28, 2021.&#160;</div>
            </td>
            <td style="width: 24.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the current reporting period, NKX did not sell common shares through its shelf program.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Refer to the Notes to Financial Statements, Note 5 &#8211; Fund Shares for further details of Shelf Offering and the Fund&#8217;s transactions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">COMMON SHARE REPURCHASES</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During August 2020, the Funds&#8217; Board of Directors/Trustees reauthorized an open&#8211;market share repurchase program, allowing each Fund to repurchase an aggregate of up to approximately 10% of its
        outstanding shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of February 28, 2021, and since the inception of the Funds&#8217; repurchase programs, the Funds have cumulatively repurchased and retired their outstanding common shares as shown in the accompanying
        table.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf64abc63867f4d8bad6de0c0b1bc7c4d">

          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-weight: bold;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NCA&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NKX&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NAC&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Common shares cumulatively repurchased and retired&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8211;&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">230,000&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">370,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Common shares authorized for repurchase&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">2,805,000&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4,750,000&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">14,470,000&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the current reporting period, the Funds did not repurchase any of their outstanding common shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">OTHER COMMON SHARE INFORMATION</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of February 28, 2021, and during the current reporting period, the Funds&#8217; common share prices were trading at a premium/(discount) to their common share NAVs as shown in the accompanying table.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z03a9fb4b1d7f41a3acc475556bdc1d19">

          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NCA&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NKX <br>
              </div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">NAC&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Common share NAV&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$10.66&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$16.48&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$15.91&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>Common share price&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">$10.21&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">$15.13&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;">$14.57&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Premium/(Discount) to NAV&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; text-indent: 6.4pt;">(4.22)%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(8.19)%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; text-indent: 6.4pt;">(8.42)%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>12-month average premium/(discount) to NAV&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(3.46)%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(8.88)%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(9.13)%&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">13</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z53b67504a06f42eb8df35faaf3ce5e5b">

          <tr>
            <td style="width: 17.57%; vertical-align: middle;">&#160;</td>
            <td style="width: 82.43%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td colspan="1" rowspan="2" style="width: 17.57%; vertical-align: bottom;">
              <div><font style="font-size: 36pt; font-weight: bold;">NCA<a name="PerformanceOverview"><!--Anchor--></a></font>&#160; </div>
            </td>
            <td style="width: 82.43%; vertical-align: bottom;">
              <div><font style="font-size: 18pt; font-weight: bold;">Nuveen California Municipal Value Fund</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.43%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Performance Overview and Holding Summaries as of February 28, 2021</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zfbee180358584649af4031d31a68944f">

          <tr>
            <td style="width: 55%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.46%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="vertical-align: bottom;">
              <div>Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Average Annual Total Returns as of February 28, 2021</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Average Annual</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">1-Year</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">5-Year</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">10-Year</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>NCA at Common Share NAV&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.62)%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.78%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5.85%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>NCA at Common Share Price&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.73%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">2.55%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">6.37%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>S&amp;P Municipal Bond California Index&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.76%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.36%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5.03%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>S&amp;P Municipal Bond Index&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1.22%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3.41%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4.51%&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay
        on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund&#8217;s shares at NAV only. Indexes are not available
        for direct investment.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><img src="nca-edgarx14x1.jpg"> </div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">14</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div><br>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">This data relates to the securities held in the Fund&#8217;s portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for
        the Fund itself. Holdings are subject to change.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or
        Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D
        are below-investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za32b026b1c9847249313db368477f6e3">

          <tr>
            <td style="width: 71.71%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Fund Allocation</font>&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of net assets)</font>&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Long-Term Municipal Bonds&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">97.5%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Other Assets Less Liabilities&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">2.5%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Net Assets</font>&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">States and Territories</font>&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">(% of total municipal bonds)</font>&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>California&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">97.7%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Puerto Rico&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Virgin Islands&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.4%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 28.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zb103ee99adb04662b545d6c7ebb497f9">

          <tr>
            <td style="width: 69.71%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio Composition</font>&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of total investments)</font>&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Tax Obligation/General&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">26.6%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Utilities&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">22.2%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Transportation&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17.1%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Tax Obligation/Limited&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">12.9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Health Care&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8.8%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">6.3%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Other&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6.1%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc42f16e2ae594d0b88dcb547cc90dfca">

          <tr>
            <td style="width: 76.77%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio Credit Quality</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of total investment exposure)</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5.9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>AAA&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">15.4%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>AA&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">47.8%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>A&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">14.7%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>BBB&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5.7%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>BB or Lower&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4.7%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>N/R (not rated)&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5.8%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">15</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd92ac270b881483c944894a7bfb70840">

          <tr>
            <td style="width: 16.52%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.48%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.52%; vertical-align: top;">
              <div style="font-size: 36pt; font-weight: bold;">NKX</div>
            </td>
            <td style="width: 83.48%; vertical-align: top;">
              <div style="font-size: 18pt; font-weight: bold;">Nuveen California AMT-Free Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Performance Overview and Holding Summaries as of February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf8ee7d4c5bd54aebb5582199ed57dac4">

          <tr>
            <td style="width: 55%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.46%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="vertical-align: bottom;">
              <div>Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Average Annual Total Returns as of February 28, 2021</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Average Annual</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">1-Year</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">5-Year</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">10-Year</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>NKX at Common Share NAV&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.77)%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.95%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7.91%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>NKX at Common Share Price&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1.67%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4.21%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">8.28%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>S&amp;P Municipal Bond California Index&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.76%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.36%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5.03%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>S&amp;P Municipal Bond Index&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1.22%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3.41%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4.51%&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay
        on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund&#8217;s shares at NAV only. Indexes are not available
        for direct investment.</div>
      <div><img src="nca-edgarx16x1.jpg"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">16</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div><font style="font-weight: bold;">This data relates to the securities held in the Fund&#8217;s portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are
        subject to change. </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or
        Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D
        are below-investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd089da4184234117944425fc6151e2db">

          <tr>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Fund Allocation</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of net assets)</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Long-Term Municipal Bonds&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">156.3%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Other Assets Less Liabilities&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1.4%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Net Assets Plus Floating Rate</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom;">
              <div style="text-indent: 9pt;"><font style="font-weight: bold;">Obligations, MFP Shares, net of</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;"><font style="font-weight: bold;">deferred offering costs &amp; VRDP Shares,</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;"><font style="font-weight: bold;">net of deferred offering costs</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">157.7%</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Floating Rate Obligations&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(2.7)%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>MFP Shares, net of deferred offering costs&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(17.9)%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>VRDP Shares, net of deferred offering costs&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(37.1)%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Net Assets</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc921e4cafb3c49eca2378044f2d33062">

          <tr>
            <td style="width: 83.84%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">States and Territories</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of total municipal bonds)</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>California&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">96.1%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Puerto Rico&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">2.3%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Guam&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.1%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Virgin Islands&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.4%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>New York&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.1%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z04679e1c5385461da7cb73cf0ede638b">

          <tr>
            <td style="width: 69.71%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio Composition</font>&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of total investments)</font>&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Tax Obligation/General&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">22.2%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Tax Obligation/Limited&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">21.6%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Utilities&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">20.0%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">11.4%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Transportation&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7.9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Health Care&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">7.9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Other&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9.0%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 30.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4210c83d54904015ae14c9ea73aa4439">

          <tr>
            <td style="width: 76.77%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio Credit Quality</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of total investment exposure)</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10.1%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>AAA&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">7.0%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>AA&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">56.2%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>A&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">8.8%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>BBB&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.6%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>BB or Lower&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4.5%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>N/R (not rated)&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9.8%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">17</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze0a1bbcebb0f42a8945a4ff9e37efcaa">

          <tr>
            <td style="width: 16.93%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.07%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.93%; vertical-align: top;">
              <div style="font-size: 36pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 83.07%; vertical-align: top;">
              <div style="font-size: 18pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Performance Overview and Holding Summaries as of February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z673d93918c42487daaf9fe49275cb07f">

          <tr>
            <td colspan="2" style="vertical-align: bottom;">
              <div>Refer to the Glossary of Terms Used in this Report for further definition of the terms used within this section.&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Average Annual Total Returns as of February 28, 2021</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Average Annual</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">1-Year</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">5-Year</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">10-Year</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>NAC at Common Share NAV&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.90)%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.49%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7.91%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>NAC at Common Share Price&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.88%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3.33%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">7.71%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>S&amp;P Municipal Bond California Index&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.76%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.36%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5.03%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>S&amp;P Municipal Bond Index&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1.22%&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3.41%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4.51%&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Past performance is not predictive of future results. Current performance may be higher or lower than the data shown. Returns do not reflect the deduction of taxes that shareholders may have to pay
        on Fund distributions or upon the sale of Fund shares. Returns at NAV are net of Fund expenses, and assume reinvestment of distributions. Comparative index return information is provided for the Fund&#8217;s shares at NAV only. Indexes are not available
        for direct investment.</div>
      <div><img src="nca-edgarx18x1.jpg"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">18</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <font style="font-weight: bold;">This data relates to the securities held in the Fund&#8217;s portfolio of investments as of the end of the reporting period. It should not be construed as a measure of performance for the Fund itself. Holdings are subject
        to change. </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For financial reporting purposes, the ratings disclosed are the highest rating given by one of the following national rating agencies: Standard &amp; Poor&#8217;s Group, Moody&#8217;s Investors Service, Inc. or
        Fitch, Inc. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A and BBB are investment grade ratings; BB, B, CCC, CC, C and D
        are below-investment grade ratings. Holdings designated N/R are not rated by these national rating agencies.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zefc372ecdb0946919157da46f0870abc">

          <tr>
            <td style="width: 82.83%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Fund Allocation</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of net assets)</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Long-Term Municipal Bonds&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">154.2%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Other Assets Less Liabilities&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1.3%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Net Assets Plus Floating Rate</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom;">
              <div style="text-indent: 9pt;"><font style="font-weight: bold;">Obligations, MFP Shares, net of</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;"><font style="font-weight: bold;">deferred offering costs &amp; VRDP Shares,</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;"><font style="font-weight: bold;">net of deferred offering costs</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">155.5%</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Floating Rate Obligations&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.2)%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>MFP Shares, net of deferred offering costs&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(13.9)%&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 100%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>VRDP Shares, net of deferred offering costs (41.4)%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Net Assets</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6da01339c6494ab095ce0e0e0ac902aa">

          <tr>
            <td style="width: 82.83%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">States and Territories</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of total municipal bonds)</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>California&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">97.3%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Puerto Rico&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">2.1%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Guam&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.6%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Virgin Islands&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.0%*&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>New York&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.0%*&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 82.83%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 17.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf8a9e6f52b9c4a1b94e4dfddca33bfef">

          <tr>
            <td nowrap="nowrap" style="width: 4.35%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.65%; vertical-align: middle;">
              <div>Rounds to less than 0.1%</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zb3997e8fda5245c2ba7e4731a7534ad7">

          <tr>
            <td style="width: 69.66%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio Composition</font>&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">(% of total investments)</font>&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Tax Obligation/General&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">21.3%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Utilities&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">19.2%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Tax Obligation/Limited&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16.0%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Transportation&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">12.9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10.6%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Health Care&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">9.3%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Other&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10.7%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 30.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4c21493a3bd14f949adce4a5ae0943f9">

          <tr>
            <td style="width: 76.77%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio Credit Quality</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">(% of total investment exposure)</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8.7%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>AAA&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">8.7%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>AA&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">51.8%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>A&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">11.9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>BBB&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6.5%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>BB or Lower&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">4.6%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>N/R (not rated)&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7.8%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.77%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td style="width: 23.23%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">100%</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">19</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Shareholder Meeting Report<a name="ShareholderMeetingReport"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The annual meeting of shareholders was held on November 16, 2020 for NKX and NAC. The meeting was held virtually due to public health concerns regarding the ongoing COVID-19 pandemic; at this
        meeting the shareholders were asked to elect Board members. The annual meeting of shareholders for NCA was held on December 7, 2020 and was held virtually due to public health concerns regarding the ongoing COVID-19 pandemic; at this meeting the
        shareholders were asked to elect Board members and to approve an Agreement and Plan of Reorganization that would result in the fund reorganizing as a newly created Massachusetts business trust. The meeting for NCA was subsequently adjourned to
        January 15, 2021 and additionally to February 17, 2021 in order to seek additional shareholder participation.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z1c024db134a346a2a04bcde2ffddf744">

          <tr>
            <td style="width: 20%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.78%; vertical-align: middle;">&#160;</td>
            <td style="width: 16%; vertical-align: middle;">&#160;</td>
            <td style="width: 16%; vertical-align: middle;">&#160;</td>
            <td style="width: 16%; vertical-align: middle;">&#160;</td>
            <td style="width: 16%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">NCA</font>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">&#160;<font style="font-weight: bold;">NKX</font> <br>
              </div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">&#160;<font style="font-weight: bold;">NAC</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">Common and&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">Common and&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">Preferred shares&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">Preferred shares&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div style="text-align: right;">Common&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">voting together&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">Preferred&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">voting together&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">Preferred&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">Shares&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">as a class&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">Shares&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">as a class&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">Shares&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">To approve an Agreement and Plan of Reorganization</font>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 20%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">that would result in the fund reorganizing as a newly</font>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">created Massachusetts business trust</font>&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">For&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div style="text-align: right;">14,210,728&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Against&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,177,647&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Abstain&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div style="text-align: right;">1,238,612&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">BNV&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,039,260&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Total&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">25,666,247&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Election of Board Members:</font>&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>John K. Nelson&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">For&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">21,128,822&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">28,965,260&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">90,159,543&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Withhold&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">922,980&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">9,761,283&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">27,415,289&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Total&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">22,051,802&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">38,726,543&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">117,574,832&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>Terence J. Toth&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">For&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">21,113,314&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">28,804,764&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">89,865,431&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Withhold&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">938,488&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">9,921,779&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">27,709,401&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Total&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">22,051,802&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">38,726,543&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">117,574,832&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>Robert L. Young&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">For&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">21,082,809&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">28,965,059&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">90,174,431&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Withhold&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">968,993&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">9,761,484&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">27,400,401&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Total&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">22,051,802&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">38,726,543&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">117,574,832&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>William C. Hunter&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">For&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,687&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,302&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Withhold&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1,599&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">7,885&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Total&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,286&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,187&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom;">
              <div>Albin F. Moschner&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">For&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,257&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,302&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Withhold&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1,029&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">7,885&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Total&#160;</div>
            </td>
            <td style="width: 15.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,286&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 16%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,187&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">20</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Report of Independent Registered Public Accounting Firm<a name="ReportofIndependentRegist"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">To the Shareholders and Board of Trustees<br>
        Nuveen California Municipal Value Fund<br>
        Nuveen California AMT-Free Quality Municipal Income Fund<br>
        Nuveen California Quality Municipal Income Fund:</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Opinion on the Financial Statements</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">We have audited the accompanying statements of assets and liabilities of Nuveen California Municipal Value Fund (formerly known as Nuveen California Municipal Value Fund, Inc.), Nuveen California
        AMT-Free Quality Municipal Income Fund, and Nuveen California Quality Municipal Income Fund (the Funds), including the portfolios of investments, as of February 28, 2021, the related statements of operations for the year then ended, the statements
        of changes in net assets for each of the years in the two-year period then ended, the statements of cash flows (Nuveen California AMT-Free Quality Municipal Income Fund and Nuveen California Quality Municipal Income Fund) for the year then ended,
        and the related notes (collectively, the financial statements) and the financial highlights for each of the years in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material
        respects, the financial position of the Funds as of February 28, 2021, the results of their operations and their cash flows (where applicable) for the year then ended, the changes in their net assets for each of the years in the two-year period
        then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Basis for Opinion</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">These financial statements and financial highlights are the responsibility of the Funds&#8217; management. Our responsibility is to express an opinion on these financial statements and financial
        highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal
        securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
        statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights,
        whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such
        procedures also included confirmation of securities owned as of February 28, 2021, by correspondence with custodians and brokers or other appropriate auditing procedures. Our audits also included evaluating the accounting principles used and
        significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.</div>
      <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt;">/s/ KPMG LLP</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">We have served as the auditor of one or more Nuveen investment companies since 2014.</div>
      <div style="margin: 12pt 0px 0px;">Chicago, Illinois </div>
      <div style="margin: 0px 0px 12pt;">April 27, 2021</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">21</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6ce7a46a7b07450ab895726d16074f35">

          <tr>
            <td style="width: 18.18%; vertical-align: middle;">&#160;</td>
            <td style="width: 81.82%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 18.18%; vertical-align: top;">
              <div style="font-size: 36pt; font-weight: bold;">NCA<a name="PortfolioofInvestments"><!--Anchor--></a></div>
            </td>
            <td style="width: 81.82%; vertical-align: top;">
              <div style="font-size: 18pt; font-weight: bold;">Nuveen California Municipal Value Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z0f8cf870cbe54ad9a76195a4e5bced0a">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">LONG-TERM INVESTMENTS &#8211; 97.5% (100.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">MUNICIPAL BONDS &#8211; 97.5% (100.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Consumer Staples &#8211; 2.5% (2.6% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 60&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 68,451&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,570&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">B&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,714,228&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Senior Convertible Series 2007A-2, 5.300%, 6/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,450&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,541,973&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Series 2018A-1, 5.250%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,895&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Silicon Valley Tobacco Securitization Authority, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 32.31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,253,684&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Santa Clara County Tobacco Securitization Corporation, Series 2007A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">0.000%, 6/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,975&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Consumer Staples&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,578,336&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Education and Civic Organizations &#8211; 0.9% (1.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">450&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Charter School Revenue Bonds, Rocketship&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/22 at 102.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">485,955&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Education?Multiple Projects, Series 2014A, 7.250%, 6/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">185&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">206,697&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">College-Ready Public Schools Project, Series 2016A, 5.000%, 7/01/46, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,165&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/25 at 101.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,318,943&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">College-Ready Public Schools Project, Series 2016C, 5.250%, 7/01/52&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">690&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>California State University, Systemwide Revenue Bonds, Series 2016A, 4.000%, 11/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">780,549&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">2,490&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Education and Civic Organizations&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">2,792,144&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Health Care &#8211; 8.6% (8.8% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,155&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,345,240&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Refunding Series 2016B, 5.000%, 11/15/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Health, Series 2018A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/15/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,488,276&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,950&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/15/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,491,531&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,001,130&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2020A, 4.000%, 4/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">555&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">608,979&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Children&#8217;s Hospital, Series 2014A, 5.000%, 8/15/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">228,324&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services, Refunding Series 2014A, 5.000%, 10/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">690&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">784,489&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services, Series 2014B, 5.000%, 10/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Rady Children&#8217;s&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Hospital &#8211; San Diego, Series 2011:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">560&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/15/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">570,114&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">670&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 8/15/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">681,738&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">100&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Baa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">116,129&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Series 2017A, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">400&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">451,824&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2017A, 5.250%, 11/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Linda University Medical Center, Series 2016A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,390&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 12/01/46, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,660,166&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,625&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 12/01/56, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,938,425&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">22</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z0cc63c696c2940108a527a074625b2c7">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Health Care </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,162,180&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Linda University Medical Center, Series 2018A, 5.250%, 12/01/48, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,625&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, Revenue Bonds, Kaiser&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,750,160&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Permanente, Series 2012A, 5.000%, 4/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">620&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">632,307&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">System, Series 1998A, 5.000%, 8/01/22 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,823,518&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2011, 7.500%, 12/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">22,990&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Health Care&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">25,734,530&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Housing/Multifamily &#8211; 2.5% (2.5% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,115&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,257,731&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Apartments, Series 2019A, 5.000%, 4/01/49, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,930&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,167,653&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2019-2, 4.000%, 3/20/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">284&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">325,635&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series2019-1, 4.250%, 1/15/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Affordable Housing Inc Projects, Senior Series 2014A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">65&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 8/15/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">71,384&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">175&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 8/15/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">190,853&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,060&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,109,735&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012A, 5.500%, 8/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,955&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,273,020&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Center City Anaheim, Series 2020A, 5.000%, 1/01/54, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">6,584&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Housing/Multifamily&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">7,396,011&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/General &#8211; 25.9% (26.6% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Anaheim Union High School District, Orange County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,200,560&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2014 Election Series 2019, 3.000%, 8/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Refunding Various Purpose Series 2013,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,088,470&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 2/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Refunding Series 2015,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,542,970&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 8/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2013:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 4/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,730,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 2/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,705,625&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,240&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,492,627&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2014:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 5/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,690,650&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,970&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,260,634&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2018, 5.000%,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,364,220&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">10/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Unified School District, Los Angeles County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,886,360&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Election 2008 Series 2018B-1, 5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Manhattan Beach Unified School District, Los Angeles County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,174,570&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2016 Measure C Series 2020B, 4.000%, 9/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Mount San Jacinto Community College District, Riverside County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,448,170&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2014, Series 2018B, 4.000%, 8/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Pittsburg Unified School District Financing Authority, Contra Costa County, California,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,432,600&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">General Obligation Bonds, Pittsburg Unified School District Bond Program, Series 2019,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/47 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Mateo County Community College District, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,150,900&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Election 2014 Series 2018B, 5.000%, 9/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">23</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z1dfe0734d236413297368f3a7a1b15de">

          <tr>
            <td style="width: 19.2%; vertical-align: middle;">&#160;</td>
            <td style="width: 80.8%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 19.2%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NCA</div>
            </td>
            <td style="width: 80.8%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Municipal Value Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zcc932b07bad34afcbd51eed3eb8dfc3b">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/General </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 11,875&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Mateo Union High School District, San Mateo County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/36 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aaa&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 13,246,682&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Election 2010 Series 2011A, 0.000%, 9/01/41 (4)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">19,860&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Yosemite Community College District, California, General Obligation Bonds, Capital&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">19,261,618&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42 (4)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">70,945&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Tax Obligation/General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">77,676,856&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited &#8211; 12.6% (12.9% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Artesia Redevelopment Agency, California, Tax Allocation Revenue Bonds, Artesia&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,002,560&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Redevelopment Project Area, Series 2007, 5.375%, 6/01/27&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Area, Series 2003:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,895&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.500%, 10/01/23 &#8211; RAAI Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,902,068&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.625%, 10/01/33 &#8211; RAAI Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,003,210&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,175&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Infrastructure and Economic Development Bank, Lease Revenue Bonds, California&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,465,307&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">State Teachers? Retirement System Headquarters Expansion, Green Bond-Climate Bond Certified&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2019, 5.000%, 8/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State Public Works Board, Lease Revenue Bonds, Department of Corrections &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,674,630&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Rehabilitation, Various Correctional Facilities Series 2013F, 5.250%, 9/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State Public Works Board, Lease Revenue Bonds, Department of Corrections &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,428,838&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Rehabilitation, Various Correctional Facilities Series 2014A, 5.000%, 9/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State Public Works Board, Lease Revenue Bonds, Various Capital Projects,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,222,930&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2012G, 5.000%, 11/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Metropolitan Transportation Authority, California, Measure R Sales&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,588,870&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Tax Revenue Bonds, Senior Series 2016A, 5.000%, 6/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,150&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Metropolitan Transportation Authority, California, Proposition C&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,406,784&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Sales Tax Revenue Bonds, Senior Lien Series 2017A, 5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,520&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,747,991&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Multiple Capital Facilities Project II, Series 2012, 5.000%, 8/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,252,660&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2019E-1, 5.000%, 12/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>District 2001-1, Senior Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">940&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 9/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,024,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">855&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 9/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">930,813&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">152,838&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">District 2001-1, Subordinate Lien Series 2013B, 5.875%, 9/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,110&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">0.000%, 7/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/28 at 41.38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,263,578&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,926&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/58&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,240,662&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">80&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">82,932&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Project Area, Series 2011B, 6.500%, 10/01/25&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">50&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Clemente, California, Special Tax Revenue Bonds, Community Facilities District&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">56,005&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2006-1 Marblehead Coastal, Series 2015, 5.000%, 9/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">155&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Redevelopment Agency Successor Agency, California, Special&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">164,959&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tax Bonds, Community Facilities District 7, Hunters Point Shipyard Phase One Improvements,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2014, 5.000%, 8/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Francisco City and County Redevelopment Agency Successor Agency, California, Tax&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,743,150&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Allocation Bonds, Mission Bay North Redevelopment Project, Refunding Series 2016A, 5.000%,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">8/01/41 &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">110&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">110,519&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2011, 7.000%, 10/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Facility District 99-02, Series 2018A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 103.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,132,140&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">765&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 103.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">851,124&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">24</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd37ab7d23ce64e30a333ce40f060c63a">

          <tr>
            <td style="width: 11.24%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 55.1%; vertical-align: middle;">&#160;</td>
            <td style="width: 13.26%; vertical-align: middle;">&#160;</td>
            <td style="width: 9.18%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.22%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited </font>(continued)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">$ 100&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/27 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">$ 109,627&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">District 16-01, Series 2017, 5.750%, 9/01/32, 144A&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">155&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Transbay Joint Powers Authority, California, Tax Allocation Bonds, Senior Green Series&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">4/30 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">189,027&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2020A, 5.000%, 10/01/45&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">10/22 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,054,540&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2012A, 5.000%, 10/01/32 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">36,876&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Tax Obligation/Limited&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">37,802,512&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Transportation &#8211; 16.7% (17.1% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#8211;&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,174,230&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2018A, 5.000%, 12/31/47 (AMT)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">190&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Special Facility Revenue Bonds, United Airlines,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">B+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">213,020&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Inc Los Angeles International Airport Project, Series 2019, 4.000%, 7/15/29 (AMT)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,945&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">2,107,719&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Series 2013A, 5.000%, 1/15/42 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,580&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Long Beach, California, Harbor Revenue Bonds, Series 2017C, 5.000%, 5/15/47&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,828,139&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,242,550&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Airport, Refunding Senior Lien Series 2018B, 5.000%, 5/15/32 (AMT)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,665&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,513,107&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Airport, Senior Lien Series 2015D, 5.000%, 5/15/41 (AMT)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,610&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,566,667&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Airport, Subordinate Lien Series 2018A, 5.250%, 5/15/48 (AMT)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/29 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,240,030&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Airport, Subordinate Lien Series 2019F, 5.000%, 5/15/34 (AMT)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Harbors Department, California, Revenue Bonds, Series 2014C, 5.000%, 8/01/44&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,347,880&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">2,367,840&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Governmental Purpose Second Series 2017B, 5.000%, 5/01/47&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">11,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">13,782,280&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Governmental Purpose Series 2016C, 5.000%, 5/01/46&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">4,535&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">5,308,535&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Series 2017A, 5.000%, 5/01/47 (AMT)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">4,465&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">5,342,819&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Series 2018E, 5.000%, 5/01/48&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">42,740&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Transportation&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">50,034,816&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">U.S. Guaranteed &#8211; 6.1% (6.3% of Total Investments) (5)</font>&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">285&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">340,848&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Refunding Series 2015A, 5.000%, 8/15/43 (Pre-refunded 8/15/25)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">795&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">985,275&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Refunding Series 2016B, 5.000%, 11/15/46 (Pre-refunded 11/15/26)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">150&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">174,562&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services, Refunding Series 2014A, 5.000%, 10/01/38 (Pre-refunded 10/01/24)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">700&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, School Facility Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">7/21 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">715,645&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 (Pre-refunded 7/01/21)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">130&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Contra Costa County, California, GNMA Mortgage-Backed Securities Program Home Mortgage&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">132,501&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Revenue Bonds, Series 1988, 8.250%, 6/01/21 (AMT) (ETM)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,820&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">2,109,726&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Junior Lien Series 2013C, 6.500%, 1/15/43 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Refunding Series 2013A:&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">4,010&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 1/15/46 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">4,635,199&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,010&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.000%, 1/15/53 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,658,778&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">25</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za9c3fd81a8e646ae875e8d529da8c705">

          <tr>
            <td style="width: 19.2%; vertical-align: middle;">&#160;</td>
            <td style="width: 80.8%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 19.2%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NCA</div>
            </td>
            <td style="width: 80.8%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Municipal Value Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc22ddf168751441486bec2c0075ba0ef">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">U.S. Guaranteed </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 370&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>National City Community Development Commission, California, Tax Allocation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 379,735&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">National City Redevelopment Project, Series 2011, 6.500%, 8/01/24 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">144,570&#160;</div>
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          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Redevelopment Project, Series 2011, 6.750%, 9/01/40 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,210&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Port of Oakland, California, Revenue Bonds, Refunding Series 2012P, 5.000%, 5/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,265,926&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">(Pre-refunded 5/01/22) (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">440&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">452,131&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2011A, 5.750%, 9/01/30 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,085&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Bernardino County, California, GNMA Mortgage-Backed Securities Program Single Family&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,060,794&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Home Mortgage Revenue Bonds, Series 1988A, 0.000%, 9/01/21 (AMT) (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego County Regional Transportation Commission, California, Sales Tax Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,053,020&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Refunding Series 2012A, 5.000%, 4/01/42 (Pre-refunded 4/01/22)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">190&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">195,917&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.500%, 9/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">(Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16,335&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">18,304,627&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Utilities &#8211; 21.7% (22.2% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Pollution Control Financing Authority, Water Furnishing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Poseidon Resources Channelside LP Desalination Project, Series 2012:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,875&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/37 (AMT), 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,052,301&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,675&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/21/45 (AMT), 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,835,901&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,240&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>East Bay Municipal Utility District, Alameda and Contra Costa Counties, California,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,132,647&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Water System Revenue Bonds, Green Series 2017A, 5.000%, 6/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Irvine Ranch Water District, California, Certificates of Participation, Irvine Ranch&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,403,620&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Water District Series 2016, 5.000%, 3/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,800&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,585,286&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2007A, 5.500%, 11/15/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,171,730&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2016A, 5.000%, 7/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">420&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">494,281&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2016B, 5.000%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,605&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,299,828&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2017A, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,630&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,178,302&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2017C, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,890&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,306,065&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2018A, 5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,187,280&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2017A, 5.000%, 7/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,475&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,382,306&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2018A, 5.000%, 7/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,957,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2018B, 5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,400&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,750,210&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2018A, 5.000%, 6/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,355&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Mesa Water District, California, Certificates of Participation, Series 2020, 4.000%, 3/15/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,736,651&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Metropolitan Water District of Southern California, Water Revenue Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2020C:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,268,700&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,956,225&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">26</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z1c6d875632f44fcebccda912abbe71d4">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Utilities </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 145&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 7/01/28&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 153,120&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">535&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">566,726&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">435&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.000%, 7/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">462,227&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego Public Facilities Financing Authority, California, Water Utility Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Bonds, Refunding Subordinate Lien Series 2016B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,335&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,834,807&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 8/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,594,780&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,090&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Public Utilities Commission, California, Water Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,615,384&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Bonds, Refunding Green Series 2017D, 5.000%, 11/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">53,905&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Utilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">64,925,377&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 262,840&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Total Long-Term Investments (cost $256,653,311)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">292,245,209</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Other Assets Less Liabilities &#8211; 2.5%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">7,379,912</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255); padding-bottom: 4px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); padding-bottom: 4px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Net Asset Applicable to Common Shares &#8211; 100%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">$ 299,625,121</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z423d4ede086e41f78118e615bb0a2853">

          <tr>
            <td style="width: 5.06%; vertical-align: middle;">&#160;</td>
            <td style="width: 94.94%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(1)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(2)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Certain mortgage-backed securities may be subject to periodic principal paydowns. Optional Call Provisions are not covered by the report of independent registered public&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>accounting firm.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(3)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>For financial reporting purposes, the ratings disclosed are the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Inc. (&#8220;Fitch&#8221;) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>&amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Ratings are not covered by the report of independent registered public accounting firm.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(4)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Step-up coupon bond, a bond with a coupon that increases (&#8220;steps up&#8221;), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>end of the reporting period.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(5)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>144A&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from regis-&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>tration, which are normally those transactions with qualified institutional buyers.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>AMT&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Alternative Minimum Tax&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>ETM&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Escrowed to maturity&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div style="text-indent: 360.9pt; text-align: right;"><font style="font-style: italic;">See accompanying notes to financial statements</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">27</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze97715ac0aa74baa9e1d529eeecf2d8e">

          <tr>
            <td style="width: 19.2%; vertical-align: middle;">&#160;</td>
            <td style="width: 80.8%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 19.2%; vertical-align: top;">
              <div style="font-size: 36pt; font-weight: bold;">NKX</div>
            </td>
            <td style="width: 80.8%; vertical-align: top;">
              <div style="font-size: 18pt; font-weight: bold;">Nuveen California AMT-Free Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbf741878ba744e35a814761c43fc9675">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">LONG-TERM INVESTMENTS &#8211; 156.3% (100.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 54.64%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 11.34%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">MUNICIPAL BONDS &#8211; 156.3% (100.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 54.64%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 11%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 11.34%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Consumer Staples &#8211; 4.7% (3.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 235&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 268,102&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">445&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">446,709&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,380&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">B&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,637,752&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Senior Convertible Series 2007A-2, 5.300%, 6/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">24,735&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">25,663,552&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Series 2018A-1, 5.250%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,695&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,822,403&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Series 2018A-2, 5.000%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">35,490&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Consumer Staples&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">36,838,518&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Education and Civic Organizations &#8211; 4.4% (2.8% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,050&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, The&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,104,128&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Jackson Laboratory, Series 2012, 5.000%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Educational Facilities Authority, Revenue Bonds, Pepperdine University,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,512,730&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2015, 5.000%, 9/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,475&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority Charter School Revenue Bonds, Albert Einstein&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,927,959&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Academies Project, Series 2013A, 7.125%, 8/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,780&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Charter School Revenue Bonds, Rocketship&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 102.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,922,222&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Education?Multiple Projects, Series 2014A, 7.250%, 6/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,600&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,618,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Valley &amp; Northern Nevada Project, Series 2012A, 6.875%, 1/01/42, 144A (4)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">635&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">709,644&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">College-Ready Public Schools Project, Series 2015A, 5.000%, 7/01/45, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">837,960&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">College-Ready Public Schools Project, Series 2016A, 5.000%, 7/01/46, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,925&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/25 at 101.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,547,520&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">College-Ready Public Schools Project, Series 2016C, 5.000%, 7/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">280&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California School Finance Authority, School Facility Revenue Bonds, Value Schools,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">320,625&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2016A, 5.750%, 7/01/41, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,725&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State University, Systemwide Revenue Bonds, Series 2016A, 4.000%, 11/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,951,372&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">170&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Communities Development Authority, Charter School Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">178,029&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Rocketship 4 &#8211; Mosaic Elementary Charter School, Series 2011A, 8.500%, 12/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>University of California, General Revenue Bonds, Series 2018AZ, 5.000%, 5/15/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12,185,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">30,390&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Education and Civic Organizations&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">34,815,189&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Health Care &#8211; 12.3% (7.9% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Health, Refunding Series 2016B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">13,295&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">4.000%, 11/15/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">14,806,774&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,960&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/15/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,447,542&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,415&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,162,801&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Refunding Series 2017A, 5.000%, 11/15/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,142,495&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Series 2018A, 5.000%, 11/15/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">28</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zde3e2a4336da49899979c1bc4a019431">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Health Care </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,255&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Children&#8217;s Hospital Los&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,328,443&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Angeles, Series 2012A, 5.000%, 11/15/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Children&#8217;s Hospital Los&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,162,240&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Angeles, Series 2017A, 5.000%, 8/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, City of Hope National&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,068,980&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Medical Center, Series 2012A, 5.000%, 11/15/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,430,670&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2020A, 4.000%, 4/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Kaiser Permanente&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,359,900&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">System, Series 2017A-2, 4.000%, 11/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,520&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,765,095&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Children&#8217;s Hospital, Series 2014A, 5.000%, 8/15/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Memorial Health&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,123,380&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services, Series 2012A, 5.000%, 10/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">795&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">907,588&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services, Refunding Series 2014A, 5.000%, 10/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,800&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,183,432&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services, Series 2014B, 5.000%, 10/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">335&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Rady Children&#8217;s&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">340,869&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Hospital &#8211; San Diego, Series 2011, 5.250%, 8/15/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Baa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">290,322&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Series 2017A, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,690&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,943,010&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2017A, 5.250%, 11/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Linda University Medical Center, Series 2014A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 12/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,317,888&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 12/01/54&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,406,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">14,740&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">16,499,956&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Linda University Medical Center, Series 2016A, 5.250%, 12/01/56, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,324,360&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Linda University Medical Center, Series 2018A, 5.250%, 12/01/48, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Community Development Authority, Revenue Bonds, Daughters of&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Charity Health System, Series 2005A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">261&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 7/01/24 (4)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">248,426&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,584&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.750%, 7/01/30 (4)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,504,751&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">39&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 7/01/35 (4)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">37,264&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,420&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,448,187&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">System, Series 1998A, 5.000%, 8/01/22 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">850&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">885,708&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">2011, 7.500%, 12/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">85,409&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Health Care&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">96,136,281&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Housing/Multifamily &#8211; 4.6% (2.9% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,415,830&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Serenity at Larkspur Apartments, Series 2020A, 5.000%, 2/01/50, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">125&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">132,889&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Stoneridge Apartments, Series 2021A, 4.000%, 2/01/56, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">566,305&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Verdant at Green Valley Apartments, Series 2019A, 5.000%, 8/01/49, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,358,047&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Apartments, Series 2019A, 5.000%, 4/01/49, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">29</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z72ca3d644a2040d3a89f3a58a9fce4bf">

          <tr>
            <td style="width: 21.22%; vertical-align: middle;">&#160;</td>
            <td style="width: 78.78%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 21.22%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NKX</div>
            </td>
            <td style="width: 78.78%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California AMT-Free Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z1f64ef02cf63450eadbc412a08ac97a0">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Housing/Multifamily </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 8,001&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 8,985,007&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2019-2, 4.000%, 3/20/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,189&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,364,297&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series2019-1, 4.250%, 1/15/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Affordable Housing Inc Projects, Senior Series 2014A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">260&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.250%, 8/15/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">285,535&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">705&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>5.250%, 8/15/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">768,866&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">155&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">162,273&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2012A, 5.500%, 8/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">350&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">370,727&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2012B, 7.250%, 8/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Public Finance Authority, University Housing Revenue Bonds, National Campus&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Caa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">117,600&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Community Development &#8211; Claremont Properties LLC Claremont Colleges Project, Series 2017A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 7/01/37, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,125&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,446,694&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Center City Anaheim, Series 2020A, 5.000%, 1/01/54, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">340&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">367,995&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Parallel-Anaheim Series 2021A, 4.000%, 8/01/56, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">234,136&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Renaissance at City Center, Series 2020A, 5.000%, 7/01/51, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,285&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,453,553&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Rancho Vallecitos Mobile Home Park, Series 2013, 5.000%, 4/15/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>La Verne, California, Mobile Home Park Revenue Bonds, Copacabana Mobile Home Park,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Refunding Series 2014:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">670&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>5.000%, 6/15/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">751,023&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">185&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>5.000%, 6/15/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">6/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">206,419&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">31,980&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Housing/Multifamily&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">35,987,196&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Long-Term Care &#8211; 0.5% (0.3% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Insured Revenue Bonds, Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,259,743&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Program for Persons with Developmental Disabilities, Series 2011A, 6.250%, 2/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,300&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Northern California&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,493,453&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Presbyterian Homes &amp; Services Inc, Refunding Series 2015, 5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,550&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Long-Term Care&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,753,196&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Tax Obligation/General &#8211; 34.7% (22.2% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Refunding Series 2011, 5.250%, 9/01/25&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,025,390&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,600&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Refunding Various Purpose Series 2016,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,937,776&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>5.000%, 8/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Refunding Various Purpose Series 2019:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>5.000%, 4/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,425,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">15,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 11/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">18,871,050&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2011:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 9/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,048,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,090&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>5.000%, 9/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,185,870&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,625&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 10/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,696,820&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2013:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 4/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,822,280&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>5.000%, 2/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,164,500&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,520&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 11/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,142,546&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2014:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,460&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 10/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,822,924&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>5.000%, 12/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,044,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>5.000%, 10/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,300,320&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">30</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze2a01d0758b64bad9df813d9236a1329">

          <tr>
            <td style="width: 11.24%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.08%; vertical-align: middle;">&#160;</td>
            <td style="width: 14.28%; vertical-align: middle;">&#160;</td>
            <td style="width: 9.18%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.22%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/General </font>(continued)&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">$ 8,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2015, 5.000%, 3/01/45&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div style="text-align: right;">3/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">$ 9,259,440&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,390&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2016, 5.000%, 9/01/46&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/26 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,452,369&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">7,995&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2017, 5.000%, 11/01/47&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">9,733,353&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,505&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Chaffey Joint Union High School District, San Bernardino County, California, General&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,715,399&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2012 Series 2019D, 4.000%, 8/01/49&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">20,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Coachella Valley Unified School District, Riverside County, California, General&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,702,435&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2005 Series 2010C, 0.000%, 8/01/43 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,840&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Corona-Norco Unified School District, Riverside County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,992,107&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Election 2014, Series 2018B, 5.000%, 8/01/47&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,065&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lucia Mar Unified School District, San Luis Obispo County, California, General&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,449,933&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2016 Series 2017A, 4.000%, 8/01/46&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Mount Diablo Unified School District, Contra Costa County, California, General&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,941,855&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Series 2010A, 0.000%, 8/01/30 &#8211; AGM Insured (5)&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,300&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Mount San Jacinto Community College District, Riverside County, California, General&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,792,987&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2014, Series 2018B, 4.000%, 8/01/43&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,170&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Oxnard Union High School District, Ventura County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,649,266&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election 2018 Series 2020B, 5.000%, 8/01/45&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,125&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Diego Unified School District, San Diego County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,124,370&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Election of 1998, Series 1999A, 0.000%, 7/01/21 &#8211; FGIC Insured&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,980&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Diego Unified School District, San Diego County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,086,321&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Refunding Series 2012R-1, 0.000%, 7/01/31&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,665&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Jose, California, General Obligation Bonds, Disaster Preparedness, Public Safety &amp;&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/29 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,987,403&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Infrastructure, Series 2019A-1, 5.000%, 9/01/45&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Mateo County Community College District, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/28 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,460,360&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election 2014 Series 2018B, 5.000%, 9/01/45&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,670&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Mateo Union High School District, San Mateo County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aaa&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,654,674&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Capital Appreciation, Election 2010, Refunding Series 2011A, 0.000%, 9/01/33 (5)&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sonoma County Junior College District, California, General Obligation Bonds, Election&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div>2014 Series 2019B:&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,730&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">3.000%, 8/01/36&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,862,881&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">2,110&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">3.000%, 8/01/41&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">2,238,583&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Southwestern Community College District, San Diego County, California, General&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,826,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election of 2008, Series 2011C, 0.000%, 8/01/41&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Stockton Unified School District, San Joaquin County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div>Bonds, Election 2008 Series 2011D:&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">23,280&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">0.000%, 8/01/47 &#8211; AGC Insured (5)&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/37 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">27,776,067&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">38,845&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">0.000%, 8/01/50 &#8211; AGM Insured (5)&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div style="text-align: right;">8/37 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">46,418,221&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15,780&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sylvan Union School District, Stanislaus County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16,296,637&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election of 2006, Series 2010, 0.000%, 8/01/49 &#8211; AGM Insured (5)&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,345&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Yosemite Community College District, California, General Obligation Bonds, Capital&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,093,565&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42 (5)&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">255,090&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Tax Obligation/General&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">272,001,102&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Tax Obligation/Limited &#8211; 33.7% (21.6% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">655&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">715,443&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">19C, Series 2013A, 5.000%, 9/01/27&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,003,210&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Area, Series 2003, 5.625%, 10/01/33 &#8211; RAAI Insured&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,700&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Brea and Olinda Unified School District, Orange County, California, Certificates of&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,721,373&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.08%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Participation Refunding, Series 2002A, 5.125%, 8/01/26 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 14.28%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">31</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z826e8a47439945f8abd83fee8ef4e770">

          <tr>
            <td style="width: 21.22%; vertical-align: middle;">&#160;</td>
            <td style="width: 78.78%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 21.22%; vertical-align: bottom;">
              <div><font style="font-size: 24pt; font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 78.78%; vertical-align: bottom;">
              <div><font style="font-size: 14pt; font-weight: bold;">Nuveen California AMT-Free Quality</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 78.78%; vertical-align: bottom;">
              <div><font style="font-size: 14pt; font-weight: bold;">Municipal Income Fund</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 78.78%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio of Investments (continued)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 78.78%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">February 28, 2021</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z57c884776ef5437d9e3d2b97a52664e2">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Infrastructure and Economic Development Bank, Revenue Bonds, North County&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Center for Self-Sufficiency Corporation, Series 2004:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,615&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 12/01/21 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,620,895&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,695&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 12/01/22 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,701,119&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,780&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 12/01/23 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,786,461&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,865&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 12/01/24 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,871,770&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Department of Corrections &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,822,430&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Rehabilitation, Various Correctional Facilities Series 2013F, 5.250%, 9/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Department of Education,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Riverside Campus Project, Series 2012H:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,790&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 4/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,934,243&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,065&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 4/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,169,696&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">20,330&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Judicial Council of&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">23,298,180&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">California, New Stockton Courthouse, Series 2014B, 5.000%, 10/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,990&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Judicial Council of&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,168,006&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">California, Various Projects Series 2013A, 5.000%, 3/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Compton Community Redevelopment Agency, California, Tax Allocation Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Redevelopment Projects, Second Lien Series 2010B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,230&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/01/25&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,233,764&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">530&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.750%, 8/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">531,844&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>El Monte, California, Senior Lien Certificates of Participation, Department of Public&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,016,550&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services Facility Phase II, Series 2001, 5.250%, 1/01/34 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Fullerton Community Facilities District 1, California, Special Tax Bonds, Amerige&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,065,840&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Heights, Refunding Series 2012, 5.000%, 9/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">45,825&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">52,397,221&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Revenue Bonds, Refunding Series 2015A, 5.000%, 6/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,082,170&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Revenue Bonds, Series 2013A, 5.000%, 6/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,610&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/15/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,597,093&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/15/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,474,480&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">960&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,033,738&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Project, Refunding Series 1998A, 5.250%, 5/01/23 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Hills Improvement Area D, Series 2014A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 9/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,241,129&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,105&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 9/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,281,020&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,110&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,242,301&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2015, 5.000%, 9/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lammersville Joint Unified School District, California, Special Tax Bonds, Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,184,560&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Facilities District 2007-1 Mountain House &#8211; Shea Homes Improvement Area 1, Series 2013,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.000%, 9/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Lathrop, California, Limited Obligation Improvement Bonds, Crossroads Assessment&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,120,610&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">District, Series 2015, 5.000%, 9/02/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,190&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Vermont&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,206,775&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles County Metropolitan Transportation Authority, California, Proposition A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>First Tier Senior Sales Tax Revenue Bonds, Green Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,860&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,615,059&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,702,375&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,220&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles County Metropolitan Transportation Authority, California, Proposition C&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,915,166&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Sales Tax Revenue Bonds, Senior Lien Series 2017A, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,855&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,803,523&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2019E-1, 5.000%, 12/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">32</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z334b0f4c2ac4431aafdbb096808d12e3">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 475&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Lynwood Redevelopment Agency, California, Tax Allocation Revenue Bonds, Project Area A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 486,552&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Subordinate Lien Series 2011A, 7.250%, 9/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>District 2001-1, Senior Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,740&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 9/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,077,198&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,345&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.750%, 9/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,641,601&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">530&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">578,601&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">District 2001-1, Subordinate Lien Series 2013B, 5.875%, 9/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,940&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Perris Joint Powers Authority, California, Local Agency Revenue Bonds, Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,105,695&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Facilities District 2001-1 May Farms Improvement Area 1,2 and 3, Refunding Series 2014A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.375%, 9/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">24,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">0.000%, 7/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/28 at 41.38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,440,048&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,429&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/58&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15,980,695&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">12,932&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Restructured Cofina Project Series 2019A-2, 4.536%, 7/01/53&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">40&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">41,466&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Project Area, Series 2011B, 6.500%, 10/01/25&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Riverside County, California, Special Tax Bonds, Community Facilities District 05-8&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Scott Road, Series 2013:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">660&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">695,792&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,775&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,859,703&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">400&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Roseville, California, Special Tax Bonds, Community Facilities District 1 Westpark,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">454,156&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Series 2015, 5.000%, 9/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Sacramento Area Flood Control Agency, California, Consolidated Capital Assessment&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>District 2 Bonds, Series 2016A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,695&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,453,768&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,290&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 10/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,893,452&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,230&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,383,484&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">210&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Clemente, California, Special Tax Revenue Bonds, Community Facilities District&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">235,221&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2006-1 Marblehead Coastal, Series 2015, 5.000%, 9/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Diego County Regional Transportation Commission, California, Sales Tax Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,899,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Limited Tax Series 2016A, 5.000%, 4/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,480&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Diego Redevelopment Agency, California, Subordinate Lien Tax Increment and Parking&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,485,550&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Revenue Bonds, Centre City Project, Series 2003B, 5.250%, 9/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Francisco Bay Area Rapid Transit District, California, Sales Tax Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,119,640&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2019A, 3.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">380&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Francisco City and County Redevelopment Agency Successor Agency, California, Special&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">398,183&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Tax Bonds, Community Facilities District 6 Mission Bay South Public Improvements, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2013A, 5.000%, 8/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">635&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Redevelopment Agency Successor Agency, California, Special&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">675,799&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tax Bonds, Community Facilities District 7, Hunters Point Shipyard Phase One Improvements,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2014, 5.000%, 8/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,700&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Francisco City and County Redevelopment Financing Authority, California, Tax&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,617,650&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Allocation Revenue Bonds, San Francisco Redevelopment Projects, Series 1998D, 0.000%, 8/01/24&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">&#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">995&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Marcos Public Financing Authority, California, Special Tax Revenue Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,039,755&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012D, 5.000%, 9/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">50&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">50,236&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2011, 7.000%, 10/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,600&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 103.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,075,704&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Facility District 99-02, Series 2018A, 5.000%, 9/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">33</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze198291e938a4b15b43c71cbcb78f3de">

          <tr>
            <td style="width: 21.22%; vertical-align: middle;">&#160;</td>
            <td style="width: 78.78%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 21.22%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NKX</div>
            </td>
            <td style="width: 78.78%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California AMT-Free Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z063a5da834c24561a8959014f0afa844">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>District 16-01, Series 2017:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 2,170&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">6.125%, 9/01/37, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 2,361,285&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.250%, 9/01/47, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,078,280&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">635&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Transbay Joint Powers Authority, California, Tax Allocation Bonds, Senior Green Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">774,402&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2020A, 5.000%, 10/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,745,430&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012A, 5.000%, 10/01/32 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>District 2015-1 Arambel-KDN, Refunding Series 2015:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">350&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 9/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">385,109&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">790&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 9/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">858,888&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>West Sacramento Financing Authority, California, Special Tax Revenue Bonds, Series 2014,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 102.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,452,694&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 9/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">253,656&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Tax Obligation/Limited&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">263,916,763&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Transportation &#8211; 12.3% (7.9% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,005&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Second&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,569,169&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Subordinate Lien Series 2016B, 5.000%, 10/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Airport, Refunding Senior Lien Series 2020A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,115&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 5/15/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,718,219&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,885&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 5/15/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,910,679&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,784,900&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Airport, Refunding Senior Lien Series 2020B, 4.000%, 5/15/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Airport, Senior Lien Series 2015E:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">150&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 5/15/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">175,404&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,270&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 5/15/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,475,956&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,345&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 5/15/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,558,909&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,805,760&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Airport, Subordinate Lien Series 2017B, 5.000%, 5/15/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">49,185&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">58,231,105&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">International Airport, Governmental Purpose Second Series 2017B, 5.000%, 5/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">80,955&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Transportation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">96,230,101&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">U.S. Guaranteed &#8211; 17.8% (11.4% of Total Investments) (6)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,115&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,232,343&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2013S-4, 5.250%, 4/01/48 (Pre-refunded 4/01/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">430&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">514,263&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Health, Refunding Series 2015A, 5.000%, 8/15/43 (Pre-refunded 8/15/25)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,040&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,528,254&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Health, Refunding Series 2016B, 5.000%, 11/15/46 (Pre-refunded 11/15/26)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Health, Series 2016A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">18,430&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/15/41 (Pre-refunded 11/15/25)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">22,232,109&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/15/46 (Pre-refunded 11/15/25)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,047,250&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">610&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">709,888&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Services, Refunding Series 2014A, 5.000%, 10/01/38 (Pre-refunded 10/01/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Infrastructure and Economic Development Bank, First Lien Revenue Bonds, San&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Francisco Bay Area Toll Bridge, Series 2003A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/22 &#8211; AGM Insured (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,195,840&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/36 (Pre-refunded 1/01/28) &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,861,482&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Infrastructure and Economic Development Bank, Infrastructure State Revolving&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,723,360&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Fund Revenue Bonds, Series 2016A, 5.000%, 10/01/41 (Pre-refunded 10/01/26)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">34</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z458700848f2246e1840dd926a13f99e7">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">U.S. Guaranteed </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Windsor Mobile&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Country Club Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.625%, 11/15/33 (Pre-refunded 11/15/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 2,283,540&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.000%, 11/15/48 (Pre-refunded 11/15/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,205,440&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,875&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, Pomona College, Series 2017,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,955,575&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 1/01/48 (Pre-refunded 1/01/28)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">300&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, School Facility Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">306,705&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 (Pre-refunded 7/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Escondido Joint Powers Financing Authority, California, Revenue Bonds, Water System&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,143,700&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Financing, Series 2012, 5.000%, 9/01/41 (Pre-refunded 3/01/22)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,824,532&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Junior Lien Series 2013C, 6.500%, 1/15/43 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Refunding Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">14,885&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 1/15/46 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">17,205,720&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,885&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.000%, 1/15/53 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17,293,244&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">170&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>National City Community Development Commission, California, Tax Allocation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">174,473&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">National City Redevelopment Project, Series 2011, 6.500%, 8/01/24 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">65&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">67,122&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Redevelopment Project, Series 2011, 6.750%, 9/01/40 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">210&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">215,790&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2011A, 5.750%, 9/01/30 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,115&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Rio Elementary School District, California, Special Tax Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,259,136&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">District 1, Series 2013, 5.500%, 9/01/39 (Pre-refunded 9/01/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego County Regional Transportation Commission, California, Sales Tax Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,053,020&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Refunding Series 2012A, 5.000%, 4/01/42 (Pre-refunded 4/01/22)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Election Series 2011F:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,230&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">0.000%, 8/01/42 (Pre-refunded 8/01/21) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 21.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,516,203&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,450&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">0.000%, 8/01/43 (Pre-refunded 8/01/21) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/21 at 19.43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,028,345&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">21,225&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">0.000%, 8/01/44 (Pre-refunded 8/01/21) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 17.98&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,812,222&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12,550&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">0.000%, 8/01/45 (Pre-refunded 8/01/21) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/21 at 16.64&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,085,434&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">23,425&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">0.000%, 8/01/46 (Pre-refunded 8/01/21) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 15.39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,600,657&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,870&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sanger Unified School District, Fresno County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,320,360&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election 2012, Series 2014B, 5.000%, 8/01/39 (Pre-refunded 8/01/24) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Walnut Valley Unified School District, Los Angeles County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,793,850&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2007 Measure S, Series 2014C, 5.000%, 8/01/39 (Pre-refunded 8/01/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">95&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">97,727&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A, 6.000%, 9/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">(Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Yuba Community College District, California, General Obligation Bonds, Election 2006&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,021,300&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2011C, 5.250%, 8/01/47 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">182,475&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">139,308,884&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Utilities &#8211; 31.3% (20.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,600&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">8,283,240&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Recovery Prepayment Program, Series 2013A, 5.000%, 10/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,850&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Infrastructure and Economic Development Bank Clean Water State Revolving Fund&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,198,074&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Revenue Bonds, Green Series 2018, 5.000%, 10/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,675&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, San&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,373,507&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Diego County Water Authority Desalination Project Pipeline, Refunding Series 2019, 5.000%,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">7/01/39, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">35</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbec30ee7404546d581abfee5a3745737">

          <tr>
            <td style="width: 21.22%; vertical-align: middle;">&#160;</td>
            <td style="width: 78.78%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 21.22%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NKX</div>
            </td>
            <td style="width: 78.78%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California AMT-Free Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zea5cb2d8d58345a6a64d833e5d774425">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Utilities </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2007A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 2,490&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/15/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 3,347,631&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,835&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 11/15/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,635,555&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,606,300&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012B, 5.000%, 7/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,280&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,742,497&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2013B, 5.000%, 7/01/28&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,807,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2016A, 5.000%, 7/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,015&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,174,331&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2017A, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">16,400&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">19,677,048&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2017C, 5.000%, 7/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,490&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,306,834&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2019C, 5.000%, 7/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,659,450&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tender Option Bond Trust 2015-XF2047, 17.822%, 7/01/43, 144A (IF) (7)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,775&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,467,977&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Series 2016B, 5.000%, 7/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">16,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">16,981,120&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2012A, 5.000%, 7/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,515&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,941,675&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2014A, 5.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2016A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,680&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,722,678&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,181,500&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,455&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,261,472&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,040,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,570&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,549,631&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2020A, 5.000%, 7/01/50&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,210&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Lien Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,683,161&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2017A, 5.250%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,136,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2018A, 5.000%, 6/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Refunding Green Series 2015A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,943,525&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 6/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Refunding Subordinate Lien&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 6/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,193,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 6/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,835,650&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Metropolitan Water District of Southern California, Water Revenue Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,537,400&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2020C, 5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,360&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Metropolitan Water District of Southern California, Water Revenue Bonds, Series 2021A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,676,938&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 10/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>New York State Environmental Facilities Corporation, State Clean Water and Drinking&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,227,680&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Water Revolving Funds Revenue Bonds, New York City Municipal Water Finance Authority&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Projects-Second Resolution Bonds,, 5.000%, 6/15/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">36</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z78a9c47517984f78b987e1df8b6db47b">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Utilities </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Placerville Public Financing Authority, California, Wastewater System Refinancing and&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,514,415&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Improvement Project Revenue Bonds, Series 2006, 5.000%, 9/01/34 &#8211; SYNCORA GTY Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">580&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 7/01/28&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">612,480&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,266,902&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.000%, 7/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,859,533&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Rancho California Water District Financing Authority, California, Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,847,175&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Series 2019A, 3.000%, 8/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,840,400&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Sacramento Regional County Sanitation District, Series 2014A, 5.000%, 12/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego Public Facilities Financing Authority, California, Water Utility Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,793,040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Refunding Subordinate Lien Series 2016B, 5.000%, 8/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">26,220&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Public Utilities Commission, California, Water Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">32,718,627&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Refunding Green Series 2017D, 5.000%, 11/01/33 (UB) (7)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,975&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Southern California Public Power Authority, California, Revenue Bonds, Apex Power&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,368,146&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Project Series 2014A, 5.000%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">208,115&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Utilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">245,013,492&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 1,167,110&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Total Long-Term Investments (cost $1,077,735,292)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">1,224,000,722</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Floating Rate Obligations &#8211; (2.7)%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(20,975,000)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">MuniFund Preferred Shares, net of deferred offering costs &#8211; (17.9)% (8)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">(139,994,166)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Variable Rate Demand Preferred Shares, net of deferred offering costs &#8211; (37.1)% (9)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(290,507,598)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Other Assets Less Liabilities &#8211; 1.4%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">10,678,418</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 4px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 4px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Net Asset Applicable to Common Shares &#8211; 100%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">$783,202,376</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -9pt; margin-left: 9pt;">(1)&#160; All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 18pt;">(2)&#160; Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying
        prices at later dates. Certain mortgage-backed securities may be subject to periodic principal paydowns. Optional Call Provisions are not covered by the report of independent registered public accounting firm.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 18pt;">(3)&#160; For financial reporting purposes, the ratings disclosed are the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors
        Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch, Inc. (&#8220;Fitch&#8221;) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard &amp; Poor&#8217;s, Baa by Moody&#8217;s or
        BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies. Ratings are not covered by the report of independent registered public accounting firm.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">(4) &#160; Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">(5)&#160;&#160; Step-up coupon bond, a bond with a coupon that increases (&#8220;steps up&#8221;), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting
        period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 18pt;">(6)&#160;&#160; Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and
        interest. (7) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 18pt;">(8)&#160;&#160; MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 11.4%.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 18pt;">(9)&#160;&#160; Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 23.7%.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -27pt; margin-left: 27pt;">144A&#160; Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions
        exempt from registration, which are normally those transactions with qualified institutional buyers.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">ETM&#160; Escrowed to maturity</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -27pt; margin-left: 27pt;">IF &#160;&#160;&#160;&#160; Inverse floating rate security issued by a tender option bond (&#8220;TOB&#8221;) trust, the interest rate on which varies inversely with the Securities Industry
        Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -27pt; margin-left: 27pt;">UB&#160;&#160;&#160; Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 4 &#8211; Portfolio Securities
        and Investments in Derivatives for more information.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic; text-align: right;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">37</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4fdcfe7b5f1944ea8bfdcba4b1708336">

          <tr>
            <td style="width: 19.2%; vertical-align: middle;">&#160;</td>
            <td style="width: 80.8%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 19.2%; vertical-align: top;">
              <div style="font-size: 36pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 80.8%; vertical-align: top;">
              <div style="font-size: 18pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z7081bdbe006749748eadcd407e6543c3">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">LONG-TERM INVESTMENTS &#8211; 154.2% (100.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">MUNICIPAL BONDS &#8211; 154.2% (100.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Consumer Staples &#8211; 5.0% (3.2% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,000,330&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Golden Gate Tobacco Funding Corporation, Turbo, Series 2007A, 5.000%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">680&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">775,785&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Los Angeles County Securitization Corporation, Series 2020A, 4.000%, 6/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,115&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,119,282&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tobacco Securitization Program, Series 2002A, 5.625%, 5/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">25,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Financing Authority, Tobacco Settlement Asset-Backed Bonds, Pooled&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 21.19&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,287,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tobacco Securitization Program, Series 2006A, 0.000%, 6/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">31,645&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">B&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">32,923,458&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Senior Convertible Series 2007A-2, 5.300%, 6/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">39,735&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">41,226,652&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Series 2018A-1, 5.250%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">26,755&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">27,677,512&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Series 2018A-2, 5.000%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">19,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Silicon Valley Tobacco Securitization Authority, California, Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 22.11&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,184,370&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Bonds, Santa Clara County Tobacco Securitization Corporation, Series 2007B,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">0.000%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">144,930&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Consumer Staples&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">114,195,139&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Education and Civic Organizations &#8211; 7.0% (4.5% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>ABAG Finance Authority for Non-Profit Corporations, California, Revenue Bonds, The&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,206,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Jackson Laboratory, Series 2012, 5.000%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Educational Facilities Authority, Revenue Bonds,Stanford University,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,224,270&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2014U-6, 5.000%, 5/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,065&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Infrastructure and Economic Development Bank, Revenue Bonds, Academy of&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13,386,752&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Motion Picture Arts and Sciences Obligated Group, Green Series 2020A, 5.000%, 11/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Revenue Bonds, Creative Center of Los Altos&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Project?Pinewood &amp; Oakwood Schools, Series 2016B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">800&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">4.000%, 11/01/36, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">809,272&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">4.500%, 11/01/46, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,018,970&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,385&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Charter School Revenue Bonds, Rocketship&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/22 at 102.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,815,262&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Education?Multiple Projects, Series 2014A, 7.250%, 6/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Revenue Bonds, Biola University, Series 2013,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Baa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,080,690&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">380&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California School Finance Authority, Charter School Revenue Bonds, Kepler Neighborhood&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">406,064&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">School, Series 2017A, 5.000%, 5/01/27, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,615&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,804,843&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">College-Ready Public Schools Project, Series 2015A, 5.000%, 7/01/45, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,150&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,402,152&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">College-Ready Public Schools Project, Series 2016A, 5.000%, 7/01/46, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California School Finance Authority, School Facility Revenue Bonds, Alliance for&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>College-Ready Public Schools Project, Series 2016C:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,995&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/25 at 101.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,752,768&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,340&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 7/01/52&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/25 at 101.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,442,048&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">800&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California School Finance Authority, School Facility Revenue Bonds, Value Schools,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">921,208&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2016A, 6.000%, 7/01/51, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State University, Systemwide Revenue Bonds, Series 2016A, 4.000%, 11/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,683,292&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,440&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State University, Systemwide Revenue Bonds, Series 2019A, 5.000%, 11/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">13,124,646&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,100&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State University, Systemwide Revenue Bonds, Series 2020C, 3.000%, 11/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,629,021&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">38</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3dfe9fff5a054685892afe160a8d130a">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Education and Civic Organizations </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,740&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, Charter School Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,822,180&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Rocketship 4 &#8211; Mosaic Elementary Charter School, Series 2011A, 8.500%, 12/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Dutchess County Local Development Corporation, New York, Revenue Bonds, Marist College&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,142,920&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Project, Series 2015A, 5.000%, 7/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">17,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>University of California, General Revenue Bonds, Limited Project Series 2017M, 5.000%, 5/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">21,148,593&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,775&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>University of California, General Revenue Bonds, Series 2017AV, 5.250%, 5/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,215,839&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>University of California, General Revenue Bonds, Series 2018AZ, 5.000%, 5/15/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,357,250&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>University of California, General Revenue Bonds, Series 2020BE:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11,040&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 5/15/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">14,121,816&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">4.000%, 5/15/50&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">19,838,660&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">134,015&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Education and Civic Organizations&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">160,354,716&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Financials &#8211; 0.0% (0.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,305&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Puerto Rico Urgent Interest Fund Corp (COFINA), National Taxable Trust Unit, Series 2007A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">254,666&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Sr. Bond 0.000%, 8/01/54 (4)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Health Care &#8211; 14.3% (9.3% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,345&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>ABAG Finance Authority for Nonprofit Corporations, California, Revenue Bonds, Sharp&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,200,068&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">HealthCare, Series 2014A, 5.000%, 8/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">22,545&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">26,258,387&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Health, Refunding Series 2016B, 5.000%, 11/15/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Health, Series 2018A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,135&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/15/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,530,835&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/15/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">8,580,883&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Medical&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16,767,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Center, Refunding Series 2016B, 4.000%, 8/15/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Children&#8217;s Hospital Los&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Angeles, Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,900&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 8/15/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,552,158&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,400&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,789,376&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, CommonSpirit Health,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Series 2020A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,975&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">4.000%, 4/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,403,221&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,530&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">4.000%, 4/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,441,457&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,105&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,698,772&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Children&#8217;s Hospital, Series 2014A, 5.000%, 8/15/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Memorial Health&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,327,113&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Services, Series 2012A, 5.000%, 10/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,230&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,545,813&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Services, Refunding Series 2014A, 5.000%, 10/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,375&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,521,873&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Services, Series 2014B, 5.000%, 10/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12,500,100&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Health, Refunding Series 2016A, 4.000%, 10/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,760&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Rady Children&#8217;s&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,913,475&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Hospital &#8211; San Diego, Series 2011, 5.250%, 8/15/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">685&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Baa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">795,484&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2017A, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,520&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13,114,483&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2017A, 5.250%, 11/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,455&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,641,924&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2017, 5.000%, 10/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,760&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Public Finance Authority, Revenue Bonds, Sharp HealthCare, Series 2017A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,824,966&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">39</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd86715c6cd1e49ceabc02b46d33d3839">

          <tr>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 83.84%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za0bd1aedeef4437d86e29ff4fba3c97c">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
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            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Health Care </font>(continued)&#160;</div>
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            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, California, Redlands Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 2,273,080&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Hospital, Revenue Bonds, Series 2016, 5.000%, 10/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Linda University Medical Center, Series 2014A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 12/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,115,450&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 12/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,317,888&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,375&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.500%, 12/01/54&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,616,181&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Linda University Medical Center, Series 2016A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,385&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 12/01/46, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,445,880&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">33,895&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 12/01/56, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">37,942,063&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16,445&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Communities Development Authority, California, Revenue Bonds, Loma&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">19,294,425&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Linda University Medical Center, Series 2018A, 5.500%, 12/01/58, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Communities Development Authority, Revenue Bonds, Adventist Health&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>System/West, Series 2015A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,345&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 3/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,737,201&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 3/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,424,860&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Communities Development Authority, Revenue Bonds, Adventist Health&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,891,300&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">System/West, Series 2018A, 5.000%, 3/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,670&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Communities Development Authority, Revenue Bonds, Huntington&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,954,168&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Memorial Hospital, Refunding Series 2014B, 5.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">25,290&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Communities Development Authority, Revenue Bonds, Kaiser&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">26,495,827&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Permanente, Series 2012A, 5.000%, 4/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Community Development Authority, Revenue Bonds, Daughters of&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Charity Health System, Series 2005A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,779&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.750%, 7/01/24 (5)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,589,754&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,122&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 7/01/30 (5)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,916,257&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,886&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.750%, 7/01/35 (5)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,741,557&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,891&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.500%, 7/01/39 (5)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,696,223&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">780&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">795,483&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">System, Series 1998A, 5.000%, 8/01/22 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Madera County, California, Certificates of Participation, Valley Children&#8217;s Hospital&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,220,584&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Project, Series 1995, 5.750%, 3/15/28 &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12,910&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,501,028&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17,400&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">18,130,974&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">2011, 7.500%, 12/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">297,043&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total Health Care&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">329,508,321&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Housing/Multifamily &#8211; 4.4% (2.9% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,575&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,347,751&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Serenity at Larkspur Apartments, Series 2020A, 5.000%, 2/01/50, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">365&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">388,035&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Stoneridge Apartments, Series 2021A, 4.000%, 2/01/56, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,385&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,568,665&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Verdant at Green Valley Apartments, Series 2019A, 5.000%, 8/01/49, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,575&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,544,676&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Apartments, Series 2019A, 5.000%, 4/01/49, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">23,491&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">26,381,392&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2019-2, 4.000%, 3/20/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,484&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,997,446&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series2019-1, 4.250%, 1/15/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Affordable Housing Inc Projects, Senior Series 2014A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,680&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 8/15/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,844,993&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,150&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 8/15/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,344,768&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">40</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div><br>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z94bffbd59285412eb89c7839a26ee877">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Housing/Multifamily </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2012A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 6,540&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.125%, 8/15/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 6,866,804&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,010&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 8/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,291,989&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,920&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Caritas Projects&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,152,142&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012B, 7.250%, 8/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Public Finance Authority, University Housing Revenue Bonds, National Campus&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Community Development &#8211; Claremont Properties LLC Claremont Colleges Project, Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,325&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/37, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Caa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,113,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/47, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Caa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">840,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">23,610&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">27,450,639&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Center City Anaheim, Series 2020A, 5.000%, 1/01/54, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,082,340&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Parallel-Anaheim Series 2021A, 4.000%, 8/01/56, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">590&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">690,701&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Renaissance at City Center, Series 2020A, 5.000%, 7/01/51, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,230&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,267,663&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Augusta Communities Mobile Home Park, Series 2012A, 5.000%, 5/15/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">90,930&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Housing/Multifamily&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">101,173,004&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/General &#8211; 32.9% (21.3% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,125&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Alameda Unified School District, Alameda County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,956,576&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2004A, 0.000%, 8/01/25 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">18,400&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Antelope Valley Community College District, Los Angeles County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">22,448,920&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2016 Series 2017A, 5.250%, 8/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Refunding Various Purpose Series 2012:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,230&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 2/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,379,775&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,245&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,604,230&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Refunding Various Purpose Series 2013:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,260&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 2/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,079,232&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,710&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 2/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,859,232&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Refunding Various Purpose Series 2016:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,569,225&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,600&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,571,106&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,661,760&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,210&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Refunding Various Purpose Series 2019,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,160,932&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">3.000%, 10/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Refunding Series 2015:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,700&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 8/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,809,118&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">12,990,890&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Refunding Series 2016,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,047,550&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2000, 5.625%, 5/01/22 &#8211;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">140,577&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">FGIC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2011:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">13,835&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 10/01/28&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">14,243,409&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,520&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,868,480&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">15,025&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">15,377,186&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">21,420&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 10/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">22,006,051&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2013:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,940&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 4/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,855,275&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,755&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 2/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,557,349&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15,145&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 4/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16,493,208&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,240&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">8,056,527&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">41</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf284e5ac97054d37a6627197cabd0c71">

          <tr>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: bottom;">
              <div><font style="font-size: 24pt; font-weight: bold;">NAC</font>&#160;</div>
            </td>
            <td style="width: 83.84%; vertical-align: bottom;">
              <div><font style="font-size: 14pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 83.84%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio of Investments (continued)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 83.84%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">February 28, 2021</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf2726f51a7094324b0ec988736911bd9">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/General </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2014:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 24,970&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 5/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 28,419,106&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,910&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,224,492&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,245&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 12/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,433,420&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,815&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,077,231&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2015, 5.000%, 3/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,995,585&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,780&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2017, 5.000%, 11/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,601,885&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,360&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California State, General Obligation Bonds, Various Purpose Series 2018, 5.000%, 10/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,882,440&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2018 Bid Group A/B,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,881,600&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 10/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California State, General Obligation Bonds, Various Purpose Series 2019, 5.000%, 4/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,164,900&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,550&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Centinela Valley Union High School District, Los Angeles County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,040,681&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Series 2002A, 5.250%, 2/01/26 &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Chaffey Joint Union High School District, San Bernardino County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17,097,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2012 Series 2019D, 4.000%, 8/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Corona-Norco Unified School District, Riverside County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bonds, Election 2014, Series 2019C:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,860&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">3.000%, 8/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,220,695&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,585&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">4.000%, 8/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,308,202&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Desert Community College District, Riverside County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,872,950&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Refunding Series 2016, 5.000%, 8/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,300&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Evergreen School District, Santa Clara County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,024,680&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election of 2014, Series 2018, 5.000%, 8/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,150&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Hacienda La Puente Unified School District Facilities Financing Authority, California,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,334,912&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">General Obligation Revenue Bonds, Series 2007, 5.000%, 8/01/26 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Hacienda La Puente Unified School District, Los Angeles County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,374,550&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, 2016 Election, Series 2017A, 4.000%, 8/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,630&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lake Tahoe Unified School District, El Dorado County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,550,786&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Series 2010, 0.000%, 8/01/45 &#8211; AGM Insured (6)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,650&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Long Beach Unified School District, Los Angeles County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,962,852&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Election of 2016, Series 2019B, 3.000%, 8/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13,465&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Unified School District, Los Angeles County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15,636,097&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Series 2020RYQ, 4.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,050&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Manhattan Beach Unified School District, Los Angeles County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,804,428&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election 2016 Measure C Series 2020B, 4.000%, 9/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,100&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Monrovia Unified School District, Los Angeles County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,759,946&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Series 2001B, 0.000%, 8/01/27 &#8211; FGIC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,100&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Mount San Antonio Community College District, Los Angeles County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,576,811&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, Election of 2018, Series 2019A, 4.000%, 8/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,765&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>North Orange County Community College District, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,960,639&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election of 2002 Series 2003B, 0.000%, 8/01/27 &#8211; FGIC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,655&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Ontario-Montclair School District, San Bernardino County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16,476,910&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Election of 2016, Series 2019B, 4.000%, 8/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,815&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Orland Joint Unified School District, Glenn and Tehama Counties, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/37 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,543,385&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, 2008 Election, Series 2012B, 0.000%, 8/01/51 (6)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,495&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Palmdale School District, Los Angeles County, California, General Obligation Bonds, 2016&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,200,187&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election Series 2017A, 5.250%, 8/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,330&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,135,551&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Paramount Unified School District, Los Angeles County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2/33 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,472,550&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Election 2006 Series 2011, 0.000%, 8/01/45 (6)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">28,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Bernardino Community College District, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13,846,280&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Election of 2008 Series 2009B, 0.000%, 8/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">42</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z2560584b865044498662fd9dde9a5658">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/General </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 4,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego Community College District, San Diego County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 5,114,875&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Refunding Series 2016, 5.000%, 8/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,690&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Bay Area Rapid Transit District, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,946,790&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Election of 2016, Green Series 2019B-1, 3.000%, 8/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">21,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Marcos Unified School District, San Diego County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">8,796,480&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, 2010 Election, Series 2012B, 0.000%, 8/01/51&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">20,220&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Mateo County Community College District, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">24,874,240&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Election 2014 Series 2018B, 5.000%, 9/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,220&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Mateo Union High School District, San Mateo County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/41 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aaa&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,110,127&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Election 2010 Series 2011A, 0.000%, 7/01/51 (6)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,970&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Rafael City High School District, Marin County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,583,980&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Series 2004B, 0.000%, 8/01/27 &#8211; FGIC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,700&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Santa Ana College Improvement District 1, Orange County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,881,199&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Rancho Santiago Community College District, Election of 2012, Series 2017B,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">4.000%, 8/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,725&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Santa Barbara Unified School District, Santa Barbara County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,226,692&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Obligation Bonds, School Facilities Improvement District 1, Election of 2016, Series 2019B,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 8/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Santa Maria Joint Union High School District, Santa Barbara and San Luis Obispo&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,478,630&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Counties, California, General Obligation Bonds, Series 2003B, 5.625%, 8/01/24 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Sonoma County Junior College District, California, General Obligation Bonds, Election&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2014 Series 2019B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,285&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">3.000%, 8/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,817,534&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,650&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">3.000%, 8/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,933,371&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,175&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Southwestern Community College District, San Diego County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,008,084&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Obligation Bonds, Election of 2000, Series 2004, 0.000%, 8/01/25 &#8211; FGIC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,530&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Stockton Unified School District, San Joaquin County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/37 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,608,129&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Election 2008 Series 2011D, 0.000%, 8/01/50 &#8211; AGM Insured (6)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">26,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Sylvan Union School District, Stanislaus County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">26,851,240&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Election of 2006, Series 2010, 0.000%, 8/01/49 &#8211; AGM Insured (6)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Washington Township Health Care District, Alameda County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Bonds, 2004 Election Series 2013B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,740&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.500%, 8/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,288,134&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,830&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 8/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,376,853&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Washington Township Health Care District, Alameda County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Bonds, 2012 Election Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,355&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.500%, 8/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,858,612&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 8/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,896,270&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,015&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Wiseburn School District, Los Angeles County, California, General Obligation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,141,965&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012C, 5.000%, 8/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">140,160&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Yosemite Community College District, California, General Obligation Bonds, Capital&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">135,936,979&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42 (6)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">730,045&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Tax Obligation/General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">757,347,543&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited &#8211; 24.7% (16.0% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,675&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,889,534&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">19A, Series 2015B, 5.000%, 9/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,655&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bell Community Housing Authority, California, Lease Revenue Bonds, Series 2005, 5.000%,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,664,897&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">10/01/36 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,125&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bell Community Redevelopment Agency, California, Tax Allocation Bonds, Bell Project&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,132,926&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Area, Series 2003, 5.500%, 10/01/23 &#8211; RAAI Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Infrastructure and Economic Development Bank, Lease Revenue Bonds, California&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>State Teachers? Retirement System Headquarters Expansion, Green Bond-Climate Bond Certified&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Series 2019:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,175&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 8/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,465,307&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,881,960&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">43</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zb6904fcee2934ba29aa480daf93d6c79">

          <tr>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 83.84%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6ee8959956ad478f8f76794edd873d4f">

          <tr>
            <td style="width: 11.24%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 55.1%; vertical-align: middle;">&#160;</td>
            <td style="width: 13.26%; vertical-align: middle;">&#160;</td>
            <td style="width: 9.18%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.22%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited </font>(continued)&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Department of Corrections &amp;&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Rehabilitation, Series 2013G:&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">$ 10,690&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 9/01/30&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">$ 11,945,968&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">18,135&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 9/01/32&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">20,255,888&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Department of Corrections &amp;&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Rehabilitation, Various Correctional Facilities Series 2013F:&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">8,685&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 9/01/31&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">9,705,401&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,450&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 9/01/33&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,618,809&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">10,525&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Department of Corrections &amp;&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">12,030,812&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Rehabilitation, Various Correctional Facilities Series 2014A, 5.000%, 9/01/39&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">17,395&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Judicial Council of&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">19,934,670&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">California, New Stockton Courthouse, Series 2014B, 5.000%, 10/01/39&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Judicial Council of&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">3/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,090,080&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">California, Various Projects Series 2013A, 5.000%, 3/01/30&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Judicial Council of&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,100,390&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">California, Yuba City Courthouse, Series 2013D, 5.000%, 6/01/32&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">2,650&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Various Capital Projects,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">2,780,486&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012A, 5.000%, 4/01/33&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">3,770&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Various Capital Projects,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">11/22 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">4,050,149&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012G, 5.000%, 11/01/37&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">9,950&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Various Capital Projects,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">11/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">11,088,976&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2013I, 5.000%, 11/01/38&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">13,520&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>California State Public Works Board, Lease Revenue Bonds, Various Capital Projects,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">15,454,306&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2014E, 5.000%, 9/01/39&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Fullerton Community Facilities District 1, California, Special Tax Bonds, Amerige&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,065,840&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Heights, Refunding Series 2012, 5.000%, 9/01/32&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Asset-Backed Revenue Bonds, Refunding Series 2015A:&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">3,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 6/01/40&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">6/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">3,718,877&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">86,320&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 6/01/45&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">98,700,014&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,082,170&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Asset-Backed Revenue Bonds, Series 2013A, 5.000%, 6/01/30&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Government of Guam, Business Privilege Tax Bonds, Refunding Series 2015D:&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/15/29&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,203,840&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">11,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/15/35&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">11/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">BB&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">12,281,060&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,050&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,207,460&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Project, Refunding Series 1998A, 5.250%, 5/01/23 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Jurupa Public Financing Authority, California, Special Tax Revenue Bonds, Series 2014A:&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">530&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/29&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">601,158&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,900&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/30&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,153,878&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">1,220&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/31&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">1,382,602&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,955&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Jurupa Public Financing Authority, California, Special Tax Revenue Bonds, Series 2015A,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,241,583&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/43&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">810&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">906,544&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2015, 5.000%, 9/01/40&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lathrop, California, Limited Obligation Improvement Bonds, Crossroads Assessment&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,120,610&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">District, Series 2015, 5.000%, 9/02/40&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,930&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Vermont&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,970,460&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Manchester Social Services Project, Series 2005, 5.000%, 9/01/37 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Metropolitan Transportation Authority, California, Measure R Sales&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div>Tax Revenue Bonds, Senior Series 2016A:&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,125&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 6/01/36&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,154,151&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div style="text-align: right;">5,620&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 6/01/37&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div style="text-align: right;">6/26 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div style="text-align: right;">6,735,795&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,210&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Metropolitan Transportation Authority, California, Proposition A&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,350,052&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">First Tier Senior Sales Tax Revenue Bonds, Green Series 2017A, 5.000%, 7/01/41&#160;</div>
            </td>
            <td style="width: 13.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.22%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">44</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za29fd1b47a4742f88c364262816c212d">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles County Metropolitan Transportation Authority, California, Proposition C&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sales Tax Revenue Bonds, Senior Lien Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 10,455&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 12,815,216&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,995&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,887,044&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">15,615&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">18,986,122&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,045&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,630,845&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Multiple Capital Facilities Project II, Series 2012, 5.000%, 8/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,492,100&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2019E-1, 5.000%, 12/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Lynwood Redevelopment Agency, California, Tax Allocation Revenue Bonds, Project Area A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Subordinate Lien Series 2011A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,625&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.750%, 9/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,670,191&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">7.000%, 9/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">768,638&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,835&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Modesto, California, Special Tax Bonds, Community Facilties District 2004-1 Village One 2,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,062,081&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2014, 5.000%, 9/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Norco Redevelopment Agency, California, Tax Allocation Bonds, Project Area 1, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,003,620&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2009, 7.000%, 3/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">19,390&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Ontario Redevelopment Financing Authority, San Bernardino County, California, Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Baa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">21,877,349&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Redevelopment Project 1, Refunding Series 1995, 7.400%, 8/01/25 &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>District 2001-1, Senior Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,305&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 9/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12,324,259&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,135&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 9/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,033,670&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,645&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Patterson Public Finance Authority, California, Revenue Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,795,847&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">District 2001-1, Subordinate Lien Series 2013B, 5.875%, 9/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,160&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Pico Rivera Water Authority, California, Revenue Bonds, Series 2001A, 6.250%, 12/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,242,906&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">8,595,387&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Development Project, Series 1999, 0.000%, 8/01/23 &#8211; AMBAC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,995&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">0.000%, 7/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/28 at 41.38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,380,303&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">49,372&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/58&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">54,681,465&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">43&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">46,338&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Restructured Cofina Project Series 2019A-2, 4.536%, 7/01/53&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Rancho Cucamonga Redevelopment Agency Successor Agency, California, Tax Allocation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,975,440&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Rancho Redevelopment Project, Series 2014, 5.000%, 9/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">960&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">995,184&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Project Area, Series 2011B, 6.500%, 10/01/25&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Riverside County Transportation Commission, California, Sales Tax Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,129,700&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Limited Tax Series 2017B, 5.000%, 6/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Riverside County, California, Special Tax Bonds, Community Facilities District 04-2 Lake&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Hill Crest, Series 2012:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">990&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,047,826&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,615&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,750,902&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Riverside County, California, Special Tax Bonds, Community Facilities District 05-8&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Scott Road, Series 2013:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">555&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/30&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">586,413&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">710&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">743,881&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Roseville, California, Special Tax Bonds, Community Facilities District 1 Westpark,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Refunding Series 2015:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">385&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 9/01/31&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">439,350&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">575&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 9/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">647,444&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sacramento Area Flood Control Agency, California, Consolidated Capital Assessment&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,563,810&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">District 2 Bonds, Series 2016A, 5.000%, 10/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sacramento Area Flood Control Agency, California, Consolidated Capital Assessment&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>District 2 Bonds, Series 2020:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,540&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">4.000%, 10/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,962,783&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,245&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">4.000%, 10/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,527,757&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">45</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z0f543d074884470bb78f5e78bccc52ab">

          <tr>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 83.84%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z1efa8b013bd24efc8bf75913c8f9b880">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Tax Obligation/Limited </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 4,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Sacramento City Financing Authority, California, Tax Allocation Revenue Bonds, Merged&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 3,398,215&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Downtown Sacramento and Oak Park Projects, Series 2005A, 0.000%, 12/01/31 &#8211; FGIC Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Buenaventura Redevelopment Agency, California, Tax Allocation Bonds, Merged Project&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Areas, Series 2008:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">7.750%, 8/01/28&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,005,140&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,325&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">8.000%, 8/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,331,917&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">620&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Clemente, California, Special Tax Revenue Bonds, Community Facilities District&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">694,462&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2006-1 Marblehead Coastal, Series 2015, 5.000%, 9/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,855&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego County Regional Transportation Commission, California, Sales Tax Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,448,457&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Limited Tax Series 2016A, 5.000%, 4/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Bay Area Rapid Transit District, California, Sales Tax Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,199,400&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2019A, 3.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">255&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Redevelopment Agency Successor Agency, California, Special&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">267,202&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tax Bonds, Community Facilities District 6 Mission Bay South Public Improvements, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2013A, 5.000%, 8/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,895&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Francisco City and County Redevelopment Agency Successor Agency, California, Special&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,016,754&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Tax Bonds, Community Facilities District 7, Hunters Point Shipyard Phase One Improvements,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Refunding Series 2014, 5.000%, 8/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Redevelopment Agency Successor Agency, California, Tax&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,743,150&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Allocation Bonds, Mission Bay North Redevelopment Project, Refunding Series 2016A, 5.000%,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">8/01/41 &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,315&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Signal Hill Redevelopment Agency, California, Project 1 Tax Allocation Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,321,207&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">2011, 7.000%, 10/01/26&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Stockton Public Financing Authority, California, Revenue Bonds, Arch Road East Community&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/25 at 103.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,804,700&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Facility District 99-02, Series 2018A, 5.000%, 9/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>District 16-01, Series 2017:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,565&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.500%, 9/01/27, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,679,386&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,455&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.750%, 9/01/32, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,595,073&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,560&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.250%, 9/01/47, 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,995,237&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,350&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Temecula Valley Unified School District, Riverside County, California, Special Tax&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,413,761&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Community Facilities District 2002-1 Improvement Area 1, Series 2012, 5.000%, 9/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,085&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Transbay Joint Powers Authority, California, Tax Allocation Bonds, Senior Green Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,962,989&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2020A, 5.000%, 10/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,565&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Tustin, California, Special Tax Bonds, Community Facilities District 06-1 Tustin&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,827,607&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Legacy/Columbus Villages, Refunding Series 2015A, 5.000%, 9/01/32&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,870&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Vernon Redevelopment Agency, California, Tax Allocation Bonds, Industrial Redevelopment&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Baa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,004,515&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Project, Series 2005, 5.000%, 9/01/35 &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,620&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,708,355&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2012A, 5.000%, 10/01/32 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,280&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>William S Hart School Financing Authority, California, Refunding Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,401,805&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2013, 5.000%, 9/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">516,375&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Tax Obligation/Limited&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">569,449,856&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Transportation &#8211; 19.8% (12.9% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Second&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Subordinate Lien Series 2016B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,990&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 10/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,242,538&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,445&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,390,796&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,617,170&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Subordinate Series 2019S-H, 5.000%, 4/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,109,805&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2018A, 5.000%, 12/31/47 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,295&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Municipal Finance Authority, Special Facility Revenue Bonds, United Airlines,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">B+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,573,062&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Inc Los Angeles International Airport Project, Series 2019, 4.000%, 7/15/29 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">46</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z18a17d281a4749b6aa0f10d6c23e4e57">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Transportation </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Long Beach, California, Harbor Revenue Bonds, Series 2015D, 5.000%, 5/15/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 1,355,892&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">870&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Long Beach, California, Harbor Revenue Bonds, Series 2017C, 5.000%, 5/15/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,006,634&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,840&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Long Beach, California, Harbor Revenue Bonds, Series 2019A, 5.000%, 5/15/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">13,067,186&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,680,050&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">Airport, Senior Lien Series 2015A, 4.750%, 5/15/40 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Airport, Senior Lien Series 2015D:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,600&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/31 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,018,158&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11,420&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/33 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">13,205,631&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/36 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,459,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11,335&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/41 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">13,031,963&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12,578,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">Airport, Senior Lien Series 2020C, 5.000%, 5/15/39 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,090&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,903,164&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">Airport, Senior Lien Series 2020D, 5.000%, 5/15/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,750,920&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">Airport, Subordinate Lien Series 2016A, 5.000%, 5/15/35 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Airport, Subordinate Lien Series 2016B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,765&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/30 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,088,048&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/34 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,169,360&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,835&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/46 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,866,470&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Airport, Subordinate Lien Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">13,680&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/42 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">16,090,690&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,900&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">5.000%, 5/15/47 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13,896,344&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,850&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,773,585&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Airport, Subordinate Lien Series 2018A, 5.000%, 5/15/44 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">22,015&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">26,087,555&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Airport, Subordinate Lien Series 2018C, 5.000%, 5/15/44 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,511,463&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Airport, Subordinate Lien Series 2018D, 5.000%, 5/15/43 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,243,640&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Airport, Subordinate Lien Series 2019D, 5.000%, 5/15/32 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,485&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,705,303&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Airport, Subordinate Lien Series 2019E, 5.000%, 5/15/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,464,920&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Airport, Subordinate Lien Series 2019F, 5.000%, 5/15/36 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Harbors Department, California, Revenue Bonds, Refunding Series 2014B,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,579,800&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 8/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Harbors Department, California, Revenue Bonds, Series 2014C:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,160&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 8/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,308,584&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,575&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 8/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,776,096&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,865&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 8/01/36&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,100,456&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,610&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 8/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,376,496&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,340&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Port of Oakland, California, Revenue Bonds, Refunding Series 2012P, 5.000%, 5/01/31 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,675,218&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,090,400&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Series 2013A, 5.750%, 6/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">735&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Sacramento Regional Transit District, California, Farebox Revenue Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">736,095&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Series 2012, 5.000%, 3/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego County Regional Airport Authority, California, Airport Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,179,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Refunding Subordinate Series 2019A, 5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,550&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Senior&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,337,493&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Series 2013B, 5.000%, 7/01/43 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">47</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf5fceb48525e436084a4f13b2b712f2f">

          <tr>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 83.84%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zed369f2dfd00442fbfaaebbce6a73c7f">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Transportation </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 5,919,600&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Governmental Purpose Second Series 2017B, 5.000%, 5/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">22,930&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">26,895,973&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Governmental Purpose Series 2016C, 5.000%, 5/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,047,650&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Series 2014B, 5.000%, 5/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">50,075&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">57,873,180&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Series 2016B, 5.000%, 5/01/46 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>International Airport, Second Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.250%, 5/01/42 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,991,900&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">19,965&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 5/01/47 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">23,370,430&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>International Airport, Second Series 2018D:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">37,935&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 5/01/43 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">45,250,385&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">20,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 5/01/48 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">24,101,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,350&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,188,210&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Series 2018E, 5.000%, 5/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,412,760&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">International Airport, Second Series 2019A, 5.000%, 5/01/44 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco Airports Commission, California, Revenue Bonds, San Francisco&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>International Airport, Second Series 2019E:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,900&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 5/01/39 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,986,575&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,335&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 5/01/40 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,065,799&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Jose, California, Airport Revenue Bonds, Refunding Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 3/01/36 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,858,595&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">5.000%, 3/01/37 (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">A2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3,554,160&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">388,940&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Transportation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">456,564,352&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">U.S. Guaranteed &#8211; 16.3% (10.6% of Total Investments) (7)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,705&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,305,394&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2013S-4, 5.250%, 4/01/48 (Pre-refunded 4/01/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Educational Facilities Authority, Revenue Bonds, University of San Francisco,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2011:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,120&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">6.125%, 10/01/36 (Pre-refunded 10/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,191,953&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,205&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.125%, 10/01/36 (Pre-refunded 10/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,281,161&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,285&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,536,809&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Refunding Series 2015A, 5.000%, 8/15/43 (Pre-refunded 8/15/25)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">15,535&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">19,253,147&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Refunding Series 2016B, 5.000%, 11/15/46 (Pre-refunded 11/15/26)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">16,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, California, Revenue Bonds, Sutter&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">19,602,375&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Health, Series 2016A, 5.000%, 11/15/46 (Pre-refunded 11/15/25)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,700&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Health Facilities Financing Authority, Revenue Bonds, Providence Health &amp;&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,978,375&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Services, Refunding Series 2014A, 5.000%, 10/01/38 (Pre-refunded 10/01/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,360&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Infrastructure and Economic Development Bank, First Lien Revenue Bonds, San&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,959,248&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Francisco Bay Area Toll Bridge, Series 2003A, 5.000%, 7/01/23 &#8211; AGM Insured (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">21,255&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Infrastructure and Economic Development Bank, Infrastructure State Revolving&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">26,380,006&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Fund Revenue Bonds, Series 2016A, 5.000%, 10/01/41 (Pre-refunded 10/01/26)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">18,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Municipal Finance Authority, Revenue Bonds, Pomona College, Series 2017,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">23,071,650&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 1/01/48 (Pre-refunded 1/01/28)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, Revenue Bonds, Buck Institute&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,442,260&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">for Research on Aging, Series 2014, 5.000%, 11/15/44 (Pre-refunded 11/15/24) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,450&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>California Statewide Communities Development Authority, School Facility Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,594,157&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Alliance College-Ready Public Schools, Series 2011A, 7.000%, 7/01/46 (Pre-refunded 7/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,075&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Contra Costa County, California, GNMA Mortgage-Backed Securities Program Home Mortgage&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,095,683&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Revenue Bonds, Series 1988, 8.250%, 6/01/21 (AMT) (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">48</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zcd685e2480a742bf95fe899179c6d6f9">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">U.S. Guaranteed </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 4,265&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Escondido Joint Powers Financing Authority, California, Revenue Bonds, Water System&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 4,469,293&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Financing, Series 2012, 5.000%, 9/01/41 (Pre-refunded 3/01/22)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">20,725&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">24,024,213&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Refunding Junior Lien Series 2013C, 6.500%, 1/15/43 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Refunding Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">45,735&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">5.750%, 1/15/46 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">52,865,544&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">45,725&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">6.000%, 1/15/53 (Pre-refunded 1/15/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">53,122,848&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Hesperia Unified School District, San Bernardino County, California, Certificates of&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,361,720&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Participation, Series 2013A, 5.000%, 2/01/38 (Pre-refunded 2/01/23) &#8211; BAM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>National City Community Development Commission, California, Tax Allocation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>National City Redevelopment Project, Series 2011:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,450&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">6.500%, 8/01/24 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,567,079&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">7.000%, 8/01/32 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,085,170&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Newport Beach, California, Revenue Bonds, Hoag Memorial Hospital Presbyterian, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,826,325&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">2011A, 6.000%, 12/01/40 (Pre-refunded 12/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,655&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Novato Redevelopment Agency, California, Tax Allocation Bonds, Hamilton Field&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,709,019&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Redevelopment Project, Series 2011, 6.750%, 9/01/40 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,840&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Orange County Water District, California, Revenue Certificates of Participation, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,524,723&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">1999A, 5.375%, 8/15/29 (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">905&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Orange County Water District, California, Revenue Certificates of Participation, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/32 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,257,905&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">2003B, 5.000%, 8/15/34 (Pre-refunded 8/15/32) &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,370&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Oxnard School District, Ventura County, California, General Obligation Bonds, Election&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,643,806&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">2012 Series 2013B, 5.000%, 8/01/43 (Pre-refunded 8/01/23) &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,575&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Oxnard School District, Ventura County, California, General Obligation Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/22 at 103.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,783,034&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Series 2001A, 5.750%, 8/01/30 (Pre-refunded 2/01/22) &#8211; NPFG Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,385&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Pajaro Valley Unified School District, Santa Cruz County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,469,249&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Bonds, Refunding Election 2012 Series 2013A, 5.000%, 8/01/43 (Pre-refunded 8/01/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,095&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Pomona, California, GNMA/FHLMC Collateralized Single Family Mortgage Revenue Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,201,587&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Bonds, Series 1990B, 7.500%, 8/01/23 (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,895&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Port of Oakland, California, Revenue Bonds, Refunding Series 2012P, 5.000%, 5/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,121,247&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">(Pre-refunded 5/01/22) (AMT)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 2002E,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">C&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,531,720&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">6.000%, 8/01/26 (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,335&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Rancho Santa Fe CSD Financing Authority, California, Revenue Bonds, Superior Lien Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,482,086&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2011A, 5.750%, 9/01/30 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,460&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Rohnert Park Community Development Commission, California, Tax Allocation Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Baa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,527,729&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Redevelopment Project Series 2007R, 5.000%, 8/01/37 &#8211; FGIC Insured (ETM)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,825&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Sacramento, California, Wastewater Revenue Bonds, Series 2013, 5.000%, 9/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,521,146&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">(Pre-refunded 9/01/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego Community College District, California, General Obligation Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,631,755&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Series 2011, 5.000%, 8/01/41 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,135&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego County Regional Transportation Commission, California, Sales Tax Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,248,198&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Bonds, Refunding Series 2012A, 5.000%, 4/01/42 (Pre-refunded 4/01/22)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Diego County Regional Transportation Commission, California, Sales Tax Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,716,700&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Bonds, Series 2014A, 5.000%, 4/01/44 (Pre-refunded 4/01/24)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,580&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Public Utilities Commission, California, Water Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,761,406&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Bonds, Series 2011A, 5.000%, 11/01/41 (Pre-refunded 11/01/21) (UB) (8)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Public Utilities Commission, California, Water Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">11/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">847,530&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Bonds, Tender Option Bond Trust 2015-XF0226, 18.223%, 11/01/28 (Pre-refunded 11/01/21),&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">144A (IF) (8)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Mateo Union High School District, San Mateo County, California, General Obligation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bonds, Election 2010 Series 2011A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">220&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 9/01/42 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">225,245&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,895&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 9/01/42 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aaa&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,941,143&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">49</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zac636db541864b8885c67c0224344cbb">

          <tr>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 83.84%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zdf597ebed20140de8b2a3cbae7b4f558">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">U.S. Guaranteed </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 6,245&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Southwestern Community College District, San Diego County, California, General&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 6,378,018&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Obligation Bonds, Election of 2008, Series 2011C, 5.250%, 8/01/36 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,475&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Temecula Redevelopment Agency, California, Redevelopment Project 1 Tax Allocation&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,544,795&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Housing Bonds Series 2011A, 7.000%, 8/01/39 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Union City Community Redevelopment Agency, California, Tax Allocation Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">12/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,049,970&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Redevelopment Project, Subordinate Lien Series 2011, 6.875%, 12/01/33 (Pre-refunded 12/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,760&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>University of California Regents, Medical Center Pooled Revenue Bonds, Series 2013J,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">9,723,600&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.250%, 5/15/31 (Pre-refunded 5/15/23)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Yorba Linda Redevelopment Agency, Orange County, California, Tax Allocation Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Bonds, Yorba Linda Redevelopment Project, Subordinate Lien Series 2011A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">865&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">6.000%, 9/01/26 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">889,834&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,420&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">6.500%, 9/01/32 (Pre-refunded 9/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,464,219&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Yuba Community College District, California, General Obligation Bonds, Election 2006&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,085,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Series 2011C, 5.250%, 8/01/47 (Pre-refunded 8/01/21)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">328,275&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total U.S. Guaranteed&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">375,295,274&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Utilities &#8211; 29.6% (19.2% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Bay Area Water Supply and Conservation Agency, California, Revenue Bonds, Capital Cost&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Recovery Prepayment Program, Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/27&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,196,440&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,010&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 10/01/29&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,585,758&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,629,300&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,050&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Department of Water Resources, Central Valley Project Water System Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,073,428&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Series 2020BB, 5.000%, 12/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Infrastructure and Economic Development Bank Clean Water State Revolving Fund&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,152,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Revenue Bonds, Green Series 2018, 5.000%, 10/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Pollution Control Financing Authority, Water Furnishing Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Poseidon Resources Channelside LP Desalination Project, Series 2012:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,925&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/37 (AMT), 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,167,055&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">65,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 11/21/45 (AMT), 144A&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">BBB&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">69,439,825&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">110&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Community Development Authority, Water and Wastewater Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">110,414&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Pooled Financing Program, Series 2003A, 5.250%, 10/01/23 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">315&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>California Statewide Community Development Authority, Water and Wastewater Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">316,181&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Pooled Financing Program, Series 2004A, 5.250%, 10/01/24 &#8211; AGM Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>East Bay Municipal Utility District, Alameda and Contra Costa Counties, California,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Water System Revenue Bonds, Green Series 2017A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 6/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,086,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,200&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 6/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,663,166&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>East Bay Municipal Utility District, Alameda and Contra Costa Counties, California,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Water System Revenue Bonds, Green Series 2019A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,715&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 6/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,961,030&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,115&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 6/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,403,047&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>East Bay Municipal Utility District, Alameda and Contra Costa Counties, California,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,299,500&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Water System Revenue Bonds, Series 2014C, 5.000%, 6/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Series 2007A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,140&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 11/15/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">19,010,240&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7,610&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.500%, 11/15/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">10,930,015&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,980&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11,147,503&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Refunding Series 2019D, 5.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">33,735&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">35,780,353&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2012B, 5.000%, 7/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,865&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,390,712&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2013B, 5.000%, 7/01/28&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,467,240&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2014B, 5.000%, 7/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">50</div>
      <div><br>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zcb632bb593a342c99483291f5ed0c0e1">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Utilities </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">$ 43,605&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">$ 52,009,428&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Series 2017A, 5.000%, 7/01/42&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,410,530&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Series 2017B, 5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">53,615&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">64,328,349&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Series 2017C, 5.000%, 7/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,650&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">12,994,491&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">Series 2018A, 5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2018D:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8,960&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.5pt;">5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,068,646&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,215&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.5pt;">5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10,125,234&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">4,936,200&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Series 2019C, 5.000%, 7/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Power System Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,727,560&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">Tender Option Bond Trust 2015-XF2047, 17.822%, 7/01/43, 144A (IF) (8)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,355&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,501,363&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2012B, 5.000%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">24,070&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">27,335,818&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2014A, 5.000%, 7/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,770&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">7,880,889&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2016A, 5.000%, 7/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,978,800&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2017A, 5.000%, 7/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">10,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">12,027,500&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2018A, 5.000%, 7/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2018B:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,478,500&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,650&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 7/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8,090,523&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2020A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">17,340&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 7/01/41&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">22,003,593&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 7/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5,059,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">9,300&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">11,870,706&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2020C, 5.000%, 7/01/39&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,490&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Green Series 2015C,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA+&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,714,394&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 6/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,420&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Lien Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/27 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,366,322&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2017A, 5.250%, 6/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Green Subordinate Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">6,136,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">2018A, 5.000%, 6/01/48&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Los Angeles, California, Wastewater System Revenue Bonds, Refunding Subordinate Lien&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Series 2013A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,245&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 6/01/34&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,365,267&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,840&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">5.000%, 6/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,495,956&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Mesa Water District, California, Certificates of Participation, Series 2020:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 4.45pt;">4.000%, 3/15/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,324,120&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">6,380&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 3/15/50&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">8,037,333&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Metropolitan Water District of Southern California, Water Revenue Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17,606,025&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">Series 2020C, 5.000%, 7/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14,700&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Metropolitan Water District of Southern California, Water Revenue Bonds, Series 2020A,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">18,710,013&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 4.45pt;">5.000%, 10/01/49&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">51</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z386e21600428461ba4ad36ff385e162c">

          <tr>
            <td style="width: 16.16%; vertical-align: middle;">&#160;</td>
            <td style="width: 83.84%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 16.16%; vertical-align: top;">
              <div style="font-size: 24pt; font-weight: bold;">NAC</div>
            </td>
            <td style="width: 83.84%; vertical-align: top;">
              <div style="font-size: 14pt; font-weight: bold;">Nuveen California Quality Municipal Income Fund</div>
              <div style="font-weight: bold;">Portfolio of Investments (continued) February 28, 2021</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zecbda846f2504933bb2c38a2f08404af">

          <tr>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td colspan="1" style="width: 1%; vertical-align: middle;">&#160;</td>
            <td style="width: 54.64%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Optional Call</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount (000)</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Description (1)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Provisions (2)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Ratings (3)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Value</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Utilities </font>(continued)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Metropolitan Water District of Southern California, Water Revenue Bonds, Series 2021A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 7,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 10/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 9,765,375&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,790&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 10/01/51&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/31 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,322,901&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,525&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Moulton Niguel Water District, California, Certificates of Participation, Series 2019,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/29 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AAA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7,943,841&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">3.000%, 9/01/44&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Placerville Public Financing Authority, California, Wastewater System Refinancing and&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/R&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,533,635&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Improvement Project Revenue Bonds, Series 2006, 5.000%, 9/01/34 &#8211; SYNCORA GTY Insured&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Senior Lien Series 2012A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,730&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.500%, 7/01/28&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,826,880&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,390&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.750%, 7/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6,768,927&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">5,235&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">6.000%, 7/01/47&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/22 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">CCC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,562,659&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,408,480&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Sacramento Regional County Sanitation District, Series 2014A, 5.000%, 12/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">26,570&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sacramento County Sanitation Districts Financing Authority, California, Revenue Bonds,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">12/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">33,876,750&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Sacramento Regional County Sanitation District, Series 2020A, 5.000%, 12/01/50&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,800&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sacramento Municipal Utility District, California, Electric Revenue Bonds, Series 2020H,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,327,828&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">4.000%, 8/15/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Sacramento Municipal Utility District, California, Electric Revenue Bonds, Tender Option&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/23 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,501,450&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bond Trust 2016-XG0060, 18.349%, 8/15/41, 144A (IF) (8)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Diego Public Facilities Financing Authority, California, Water Utility Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/26 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa3&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4,793,040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Bonds, Refunding Subordinate Lien Series 2016B, 5.000%, 8/01/37&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,570&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>San Francisco City and County Public Utilities Commission, California, Wastewater&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3,146,785&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Revenue Bonds, Series 2018B, 5.000%, 10/01/43&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,145&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Santa Clara Valley Water District, California, Water System Revenue Bonds, Refunding&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">6/30 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Aa1&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,706,153&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Series 2020A, 5.000%, 6/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Silicon Valley Clean Water, Mateo County, California, Wastewater Revenue Bonds, Series 2015:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">3,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 8/01/40&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">3,500,370&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,600&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 8/01/45&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8/25 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,856,368&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,095&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Silicon Valley Clean Water, Mateo County, California, Wastewater Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2/28 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,230,473&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2018, 4.000%, 8/01/46&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Southern California Public Power Authority, California, Revenue Bonds, Apex Power&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Project Series 2014A:&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">1,565&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">5.000%, 7/01/35&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">7/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">1,776,228&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">5.000%, 7/01/38&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7/24 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">AA&#8211;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,696,110&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4,000&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">A2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">5,353,280&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">2007A, 5.000%, 11/01/33&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">575,890&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Utilities&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">682,291,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Water and Sewer &#8211; 0.2% (0.1% of Total Investments)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">2,500&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>Central Basin Municipal Water District, California, Certificates of Participation,&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">4/21 at 100.00&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">AA&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">2,519,275&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Tender Option Bond Trust 2016-XG0038, 17.910%, 8/01/39 &#8211; AGM Insured, 144A (IF) (8)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">750&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom;">
              <div>San Francisco City and County Public Utilities Commission, California, Water Revenue&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">No Opt. Call&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;">Aa2&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">921,307&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Bonds, Tender Option Bond Trust 2015-XF0226, 18.223%, 5/01/21, 144A (IF) (8)&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3,250&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total Water and Sewer&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3,440,582&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 3,210,998&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Total Long-Term Investments (cost $3,191,690,324)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">3,549,874,453</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Floating Rate Obligations &#8211; (0.2)%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(4,185,000)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">MuniFund Preferred Shares, net of deferred offering costs &#8211; (13.9)% (9)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">(319,800,669)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Variable Rate Demand Preferred Shares, net of deferred offering costs &#8211; (41.4)% (10)</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(954,232,372)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Other Assets Less Liabilities &#8211; 1.3%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">31,054,999</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 11%; vertical-align: bottom; padding-bottom: 4px;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 4px;">&#160;</td>
            <td style="width: 54.64%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Net Asset Applicable to Common Shares &#8211; 100%</font>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">$ 2,302,711,411</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">52</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zfccc7ad0ec4c47aa97ebe4cbc22b2fe3">

          <tr>
            <td style="width: 5.06%; vertical-align: middle;">&#160;</td>
            <td style="width: 94.94%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(1)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(2)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. There may be other call provisions at varying prices at later dates.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Certain mortgage-backed securities may be subject to periodic principal paydowns. Optional Call Provisions are not covered by the report of independent registered public&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>accounting firm.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(3)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>For financial reporting purposes, the ratings disclosed are the highest of Standard &amp; Poor&#8217;s Group (&#8220;Standard &amp; Poor&#8217;s&#8221;), Moody&#8217;s Investors Service, Inc. (&#8220;Moody&#8217;s&#8221;) or Fitch,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Inc. (&#8220;Fitch&#8221;) rating. This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Ratings below BBB by Standard&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>&amp; Poor&#8217;s, Baa by Moody&#8217;s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Ratings are not covered by the report of independent registered public accounting firm.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(4)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Effective February 12, 2019, the par value of the original bonds was replaced with taxable and tax exempt Puerto Rico Sales Tax Financing Corporation (commonly known as&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>COFINA) bond units that are collateralized by a bundle of zero and coupon paying bonds. The quantity shown represents units in a trust, which were assigned according to&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>the original bond&#8217;s accreted value. These securities do not have a stated coupon interest rate and income will be recognized through accretion of the discount associated&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>with the trust units. The factor at which these units accrete can also decrease, primarily for principal payments generated from coupon payments received or dispositions of&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>the underlying bond collateral. The quantity of units will not change as a result of these principal payments.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(5)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of bankruptcy.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(6)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Step-up coupon bond, a bond with a coupon that increases (&#8220;steps up&#8221;), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>end of the reporting period.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(7)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(8)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(9)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>MuniFund Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 9.0%.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>(10)&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Variable Rate Demand Preferred Shares, net of deferred offering costs as a percentage of Total Investments is 26.9%.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>144A&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Investment is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These investments may only be resold in transactions exempt from regis-&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>tration, which are normally those transactions with qualified institutional buyers.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>AMT&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Alternative Minimum Tax&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>ETM&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Escrowed to maturity&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>IF&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Inverse floating rate security issued by a tender option bond (&#8220;TOB&#8221;) trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>(SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>UB&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Underlying bond of an inverse floating rate trust reflected as a financing transaction. See Notes to Financial Statements, Note 4 &#8211; Portfolio Securities and Investments in&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div>Derivatives for more information.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 5.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 94.94%; vertical-align: bottom;">
              <div style="text-indent: 359.1pt; text-align: right;"><font style="font-style: italic;">See accompanying notes to financial statements.</font>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">53</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Statement of Assets and Liabilities<a name="StatementofAssetsandLiabi"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">February 28, 2021</div>
      <table cellspacing="0" cellpadding="0" id="z10b9c0e8307e4294a8d5f0401df4733a" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Assets</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>Long-term investments, at value (cost $256,653,311, $1,077,735,292&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">and $3,191,690,324, respectively)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>292,245,209</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>1,224,000,722</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>3,549,874,453</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Cash&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>4,564,332</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>866,471</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Receivable for:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div style="text-indent: 9pt;">Interest&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>2,801,773</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>12,985,949</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>38,382,717</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Investments sold&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>1,087,419</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>5,418,487</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>35,837,227</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div style="text-indent: 9pt;">Deferred offering costs&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>205,435</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Other assets&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>51,433</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>381,971</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1,101,236</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 18pt;">Total assets&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>300,750,166</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>1,243,859,035</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>3,625,195,633</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Liabilities</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Cash overdraft&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>10,226,356</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Floating rate obligations&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>20,975,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4,185,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Payable for:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Dividends&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>704,025</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>2,493,235</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>7,658,213</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div style="text-indent: 9pt;">Interest&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>41,672</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>8,855</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Investments purchased - regular settlement&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>5,693,894</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>23,363,609</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>MuniFund Preferred (&#8220;MFP&#8221;) Shares, net of deferred offering costs&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">(liquidation preference $&#8212;, $140,400,000 and $320,000,000, respectively)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>139,994,166</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>319,800,669</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, net of deferred offering costs&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">(liquidation preference $&#8212;, $292,200,000 and $957,600,000, respectively)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>290,507,598</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>954,232,372</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Accrued expenses:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Management fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>107,398</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>558,929</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>1,550,608</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div style="text-indent: 9pt;">Directors/Trustees fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>55,424</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>190,577</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>742,772</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Reorganization fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>165,256</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Other&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>92,942</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>201,588</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>715,768</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Total liabilities&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1,125,045</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>460,656,659</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1,322,484,222</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Net Assets applicable to common shares&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>299,625,121</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>783,202,376</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>2,302,711,411</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Common shares outstanding&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>28,096,683</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>47,520,334</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>144,735,059</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Net asset value (&#8220;NAV&#8221;) per common share outstanding&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>10.66</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>16.48</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>15.91</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="12" style="vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Net assets applicable to common shares consist of:</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Common shares, $0.01 par value per share&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>280,967</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>475,203</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>1,447,351</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Paid-in surplus&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>266,090,029</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>636,864,148</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>1,965,511,333</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total distributable earnings&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>33,254,125</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>145,863,025</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>335,752,727</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Net assets applicable to common shares&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>299,625,121</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>783,202,376</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>2,302,711,411</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Authorized shares:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div style="text-indent: 9pt;">Common&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right;">
              <div>250,000,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;">Unlimited </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;">Unlimited </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Preferred&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>N/A</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Unlimited </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Unlimited </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>N/A &#8211; Fund is not authorized to issue Preferred shares.&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">54</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Statement of Operations<a name="StatementofOperations"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Year Ended February 28, 2021</div>
      <table cellspacing="0" cellpadding="0" id="zf3073bdd9c4b457ba32d064e97ae9133" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Investment Income</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>10,659,720</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>45,103,064</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>130,929,883</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div><font style="font-weight: bold;">Expenses</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Management fees&#160;</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>1,362,163</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>7,191,066</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>20,072,006</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Interest expense and amortization of offering costs&#160;</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>2,928,127</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>11,629,734</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Liquidity fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>2,197,533</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4,841,422</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Remarketing fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>693,326</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>601,200</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Custodian fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>34,982</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>102,552</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>267,406</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Directors/Trustees fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>8,511</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>34,442</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>101,767</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Professional fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>39,854</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>122,410</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>558,394</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Shareholder reporting expenses&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>53,019</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>48,936</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>112,147</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Shareholder servicing agent fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>10,498</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>8,607</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>29,397</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Stock exchange listing fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>7,576</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>12,812</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>39,024</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Investor relations expenses&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>14,453</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>56,941</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>166,265</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Reorganization expense&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>260,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Other&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>16,671</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>117,722</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>222,092</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Total expenses&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>1,807,727</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>13,514,474</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>38,640,854</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Net investment income (loss)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>8,851,993</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>31,588,590</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>92,289,029</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div><font style="font-weight: bold;">Realized and Unrealized Gain (Loss)</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Net realized gain (loss) from Investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>910,643</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>98,007</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>2,290,667</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Change in net unrealized appreciation (depreciation) of Investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(11,543,454</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(38,495,336</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(118,166,969</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Net realized and unrealized gain (loss)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(10,632,811</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(38,397,329</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(115,876,302</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Net increase (decrease) in net assets applicable to&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">common shares from operations&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(1,780,818</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(6,808,739</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(23,587,273</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">55</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Statement of Changes in Net Assets<a name="StatementofChangesinNetAs"><!--Anchor--></a></div>
      <table cellspacing="0" cellpadding="0" id="zbb6d7917e23f4517bf78193d40821f6d" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center;"> <font style="font-weight: bold;">NCA</font> <br>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;"> Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> 2/28/21</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">2/29/20</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Operations</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Net investment income (loss)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>8,851,993</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>9,607,706</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Net realized gain (loss) from investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>910,643</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(14,989</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Change in net unrealized appreciation (depreciation) of investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(11,543,454</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>25,668,841</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Net increase (decrease) in net assets applicable to common shares&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">from operations&#160; <br>
              </div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(1,780,818</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>35,261,558</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Distributions to Common Shareholders</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Dividends&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(8,933,471</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(9,607,122</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Decrease in net assets applicable to common shares from&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">distributions to common shareholders&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(8,933,471</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(9,607,122</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Capital Share Transactions</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Common shares:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Net proceeds from shares issued to shareholders due to&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 18pt;">reinvestment of distributions&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>61,387</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Net increase (decrease) in net assets applicable to common&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">shares from capital share transactions&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>61,387</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Net increase (decrease) in net assets applicable to common shares&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(10,652,902</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>25,654,436</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Net assets applicable to common shares at the beginning of period&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>310,278,023</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>284,623,587</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Net assets applicable to common shares at the end of period&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>299,625,121</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>310,278,023</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">56</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8ac7fdc0071e4bfe94121d265908cc7a" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div>
                <div style="text-align: center;"><font style="font-weight: bold;"> NKX</font> <br>
                </div>
              </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;"> Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> 2/28/21</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">2/29/20</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">2/28/21</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">2/29/20</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Operations</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%;">
              <div>Net investment income (loss)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>31,588,590</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>30,142,314</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>92,289,029</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>94,354,321</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div>Net realized gain (loss) from investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>98,007</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>3,171,600</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>2,290,667</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>5,206,326</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Change in net unrealized appreciation (depreciation) of investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(38,495,336</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>95,928,915</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(118,166,969</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>248,933,863</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div>Net increase (decrease) in net assets applicable to common shares&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">from operations&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(6,808,739</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>129,242,829</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(23,587,273</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>348,494,510</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Distributions to Common Shareholders</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Dividends&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(30,650,615</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(29,367,566</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(92,123,863</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(93,354,113</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div>Decrease in net assets applicable to common shares from&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">distributions to common shareholders&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(30,650,615</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(29,367,566</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(92,123,863</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(93,354,113</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Capital Share Transactions</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%;">
              <div>Common shares:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Net proceeds from shares issued to shareholders due to&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 18pt;">reinvestment of distributions&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div>Net increase (decrease) in net assets applicable to common&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">shares from capital share transactions&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div>Net increase (decrease) in net assets applicable to common shares&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(37,459,354</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>99,875,263</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(115,711,136</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>255,140,397</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Net assets applicable to common shares at the beginning of period&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>820,661,730</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>720,786,467</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>2,418,422,547</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>2,163,282,150</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Net assets applicable to common shares at the end of period&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>783,202,376</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>820,661,730</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>2,302,711,411</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>2,418,422,547</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">57</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div><br>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Statement of Cash Flows<a name="StatementofCashFlows"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Year Ended February 28, 2021</div>
      <table cellspacing="0" cellpadding="0" id="z38d0328069da4af6a633c54b870e92e6" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Cash Flows from Operating Activities:</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div><font style="font-weight: bold;">Net Increase (Decrease) in Net Assets Applicable to Common Shares from Operations</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(6,808,739</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(23,587,273</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Adjustments to reconcile the net increase (decrease) in net assets applicable to common shares from operations&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div style="text-indent: 9pt;">to net cash provided by (used in) operating activities:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Purchases of investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(103,699,956</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(612,852,560</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Proceeds from sales and maturities of investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>97,390,491</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>614,497,263</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Taxes paid&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(3,899</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(3,481</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Amortization (Accretion) of premiums and discounts, net&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>2,548,307</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>14,890,952</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Amortization of deferred offering costs&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>98,200</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>196,998</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>(Increase) Decrease in:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Receivable for interest&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>416,754</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>1,241,503</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div style="text-indent: 9pt;">Receivable for investments sold&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(1,509,820</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(16,533,727</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Other assets&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(37,374</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(72,804</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Increase (Decrease) in:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Payable for interest&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(71,425</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(65,861</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div style="text-indent: 9pt;">Payable for investments purchased - regular settlement&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>5,693,894</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>23,363,609</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Payable for investments purchased - when-issued/delayed-delivery settlement&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(7,242,943</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div style="text-indent: 9pt;">Accrued management fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(17,480</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(65,668</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Accrued Directors/Trustees fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>37,407</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>135,119</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div style="text-indent: 9pt;">Accrued professional fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(32,351</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(43,007</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Accrued other expenses&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>122,048</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>453,719</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Net realized (gain) loss from:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(98,007</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(2,290,667</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div style="text-indent: 9pt;">Paydowns&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>154,178</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>4,212,793</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Change in net unrealized (appreciation) depreciation of investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>38,495,336</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>118,166,969</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Net cash provided by (used in) operating activities&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>32,677,564</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>114,400,934</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">Cash Flow from Financing Activities:</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>(Payments for) deferred offering costs&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(205,435</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Proceeds from borrowings&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>8,500,110</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4,959,505</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Repayment of borrowings&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(8,500,110</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(4,959,505</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Increase (Decrease) in:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div style="text-indent: 9pt;">Cash overdraft&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>(1,098,141</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>)</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>755,084</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Floating rate obligations&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>(23,395,000</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>)</div>
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          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Cash distributions paid to common shareholders&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(30,507,517</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(91,761,018</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Net cash provided by (used in) financing activities&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(31,811,093</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>(114,400,934</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>)</div>
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          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div><font style="font-weight: bold;">Net Increase (Decrease) in Cash</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>866,471</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Cash at the beginning of period&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Cash at the end of period&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>866,471</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="8" style="vertical-align: middle; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
              <div><font style="font-weight: bold;">Supplemental Disclosures of Cash Flow Information</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Cash paid for interest (excluding amortization of offering costs)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>2,901,353</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
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              <div>11,498,597</div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
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      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">58</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; text-align: center;">THIS PAGE INTENTIONALLY LEFT BLANK</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">59</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Financial Highlights<a name="FinancialHighlights"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Selected data for a common share outstanding throughout each period:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zdc951a43ecf24499b46c60628b303250">

          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td rowspan="1" colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" colspan="3" style="vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Less Distributions</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 3.9%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 3.9%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
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            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td colspan="3" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            <td colspan="1" rowspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td colspan="6" rowspan="1" style="width: 7.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Common Share</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Premium</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Discount</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">per</font>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">per</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">From</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Beginning</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">From</font>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Accumu-</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Sold</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Repur-</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Common</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Investment</font>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Realized/</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">lated Net</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Shelf</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">through</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">chased</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ending</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Income</font>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Unrealized</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Investment</font>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Realized</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Offering</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Shelf</font>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">and</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ending</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAV</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">(Loss)</font>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Gain (Loss)</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Income</font>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Gains</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Costs</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Offering</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Retired</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAV</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Price</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NCA</font>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160; <br>
              </div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 8.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Year Ended 2/28&#8211;2/29:&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160; <br>
              </div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>2021&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;">$11.05&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">$0.32&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.39)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.07)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.32)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.32)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">$10.66&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">$10.21&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2020&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10.13&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.34&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.92&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.26&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.34)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.34)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">11.05&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10.45&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>2019&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;">10.19&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">0.34&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;">(0.06)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">0.28&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">(0.34)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">(0.34)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;*&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">10.13&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">9.42&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2018&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10.24&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.38&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.03)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.35&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.40)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.40)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">&#160;&#160;&#160;&#160;&#160;&#160; &#8212;*&#160;</div>
            </td>
            <td style="width: 3.9%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10.19&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9.55&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>2017&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;">10.56&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">0.42&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;">(0.32)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">0.10&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">(0.44)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">(0.44)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">0.02&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">10.24&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">10.21&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 8.37%; vertical-align: bottom;">
              <div>Year Ended 2/28-2/29:&#160; <br>
              </div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2021&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17.27&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.66&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.80)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.14)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.65)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.65)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16.48&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15.13&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>2020&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;">15.17&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">0.63&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;">2.09&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">2.72&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">(0.62)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">(0.62)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">17.27&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">15.53&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2019&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15.26&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.66&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.11)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.55&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.65)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.65)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.01&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15.17&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13.50&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom;">
              <div>2018&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;">15.35&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">0.72&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom;">
              <div style="text-align: right;">(0.04)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">0.68&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">(0.77)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">(0.77)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">15.26&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">13.97&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 8.37%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>2017&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16.17&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.76&#160;</div>
            </td>
            <td style="width: 9.04%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.71)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.05&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.83)&#160;</div>
            </td>
            <td style="width: 7.44%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.04)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.87)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.18%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15.35&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14.62&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z57e4724c012244b283daf5dddc70377c">

          <tr>
            <td nowrap="nowrap" style="width: 10%; vertical-align: top;">
              <div>(a)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. The last dividend declared in the period, which is
                typically paid on the first business day of the following month, is assumed to be reinvested at the ending NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not
                its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized.</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>Total Return Based on Common Share Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at
                the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last
                dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not
                annualized.</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 10%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>Rounds to less than $0.01 per share.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">60</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6426f3b6ca4f463f86501831decc4ec0">

          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 41.68%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Common Share Supplemental Data/</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 41.68%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: center;"><font style="font-weight: bold;">Ratios Applicable to Common Shares</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Common Share</font>&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Total Returns</font>&#160; <br>
              </div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 41.68%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Ratios to Average Net Assets(b)</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Based</font>&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ending</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Based</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">on</font>&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Portfolio</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">on</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Assets</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Investment</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Turnover</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAV(a)</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Price(a)</font>&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(000)</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Expenses(b)</font>&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Income (Loss)</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Rate(c)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="6" style="width: 100%; vertical-align: middle;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.62)%&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 5.35pt; text-align: right;">0.73%&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$299,625&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16.9pt; text-align: right;">0.60%&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.94%&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">9%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">12.63&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">14.67&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div style="text-align: right;">310,278&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-indent: 16.9pt; text-align: right;">0.52&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">3.22&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">8&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.82&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.31&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">284,624&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16.9pt; text-align: right;">0.62&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.38&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">38&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">3.45&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">(2.72)&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div style="text-align: right;">286,121&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-indent: 16.9pt; text-align: right;">0.56&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">3.67&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">23&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.12&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(1.32)&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">285,491&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.58&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.00&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">25&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="6" style="width: 100%; vertical-align: middle;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.77)&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.67&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">783,202&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16.9pt; text-align: right;">1.72&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.03&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">8&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">18.23&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">19.88&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div style="text-align: right;">820,662&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-indent: 16.9pt; text-align: right;">2.27&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">3.91&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">11&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.73&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.45&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">720,786&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 16.9pt; text-align: right;">2.50&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.34&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">28&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">4.42&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">0.51&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom;">
              <div style="text-align: right;">728,662&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-indent: 16.9pt; text-align: right;">2.24&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">4.58&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">14&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.21&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(1.10)&#160;</div>
            </td>
            <td style="width: 17.69%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">732,649&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.83&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.70&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">25&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z2bfb6abd7b4340528bc652a9b958f541">

          <tr>
            <td nowrap="nowrap" style="width: 10%; vertical-align: top;">
              <div>(b)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>&#8226; Net Investment Income (Loss) ratios reflect income earned and expenses incurred (as further described below) on assets attributable to preferred shares issued by the Fund, where applicable.</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>&#8226; The expense ratios reflect, among other things, all interest expense and other costs related to preferred shares (as described in Note 5 &#8211; Fund Shares) and/or the interest expense deemed to have been paid by the Fund on the floating
                rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund (as described in Note 4 &#8211; Portfolio Securities and Investments in Derivatives), where applicable, as follows:</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za1a18455f4b64fa0b310ecee230fd568">

          <tr>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NCA</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 10%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 30%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Year Ended 2/28&#8211;2/29:&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Year Ended 2/28-2/29:&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 30%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom;">
              <div>2021&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-indent: 6.15pt;">&#8212;%&#160;</div>
            </td>
            <td colspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>2021&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>0.74%&#160;</div>
            </td>
            <td colspan="1" style="width: 30%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2020&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 6.15pt;">&#8212;&#160;</div>
            </td>
            <td colspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2020&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>1.28&#160;</div>
            </td>
            <td colspan="1" style="width: 30%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom;">
              <div>2019&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-indent: 6.15pt;">&#8212;&#160;</div>
            </td>
            <td colspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>2019&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>1.45&#160;</div>
            </td>
            <td colspan="1" style="width: 30%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2018&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 6.15pt;">&#8212;&#160;</div>
            </td>
            <td colspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2018&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>1.20&#160;</div>
            </td>
            <td colspan="1" style="width: 30%; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>2017&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>0.01&#160;</div>
            </td>
            <td colspan="1" style="width: 10%; vertical-align: bottom; padding-bottom: 4px;">&#160;</td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>2017&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>0.82&#160;</div>
            </td>
            <td colspan="1" style="width: 30%; vertical-align: bottom; padding-bottom: 4px;">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z85500972e5f84e3f86b9225ae1d88380">

          <tr>
            <td nowrap="nowrap" style="width: 5.38%; vertical-align: top;">
              <div>(c)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.62%; vertical-align: middle;">
              <div>Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 &#8211; Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period.</div>
            </td>
          </tr>

      </table>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">61</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Financial Highlights (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Selected data for a common share outstanding throughout each period:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z736ebbc951cf4f39bc30db0afea55b40">

          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" colspan="3" style="vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Less Distributions</font>&#160; <br>
              </div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Investment Operations</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td rowspan="1" colspan="3" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">to Common Shareholders</font>&#160; <br>
              </div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Common Share</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Premium</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Discount</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">From</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">per</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">per</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Accumu-</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Beginning</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">From</font>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">lated</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Sold</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Repur-</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Common</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Investment</font>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Realized/</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">through</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">chased</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ending</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Income</font>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Unrealized</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Investment</font>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Realized</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Shelf</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">and</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ending</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAV</font>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">(Loss)</font>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Gain (Loss)</font>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Income</font>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Gains</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Total</font>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Offering</font>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Retired</font>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAV</font>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Price</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 12.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Year Ended 2/28-2/29:&#160; <br>
              </div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>2021&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;">$16.71&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">$0.64&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.80)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.16)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.64)&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div style="text-align: right;">$(0.64)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div style="text-align: right;">$15.91&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">$14.57&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2020&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">14.95&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.65&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.76&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.41&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.65)&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.65)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">16.71&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15.09&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom;">
              <div>2019&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: right;">15.17&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom;">
              <div style="text-align: right;">0.67&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom;">
              <div style="text-align: right;">(0.22)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom;">
              <div style="text-align: right;">0.45&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom;">
              <div style="text-align: right;">(0.68)&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div style="text-align: right;">(0.68)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom;">
              <div style="text-align: right;">0.01&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom;">
              <div style="text-align: right;">14.95&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom;">
              <div style="text-align: right;">13.30&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2018&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15.31&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.73&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.10)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.63&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.77)&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.77)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">15.17&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">13.49&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.19%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>2017&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">16.06&#160;</div>
            </td>
            <td style="width: 9.39%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.78&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(0.66)&#160;</div>
            </td>
            <td style="width: 6.03%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.12&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 9.91%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(0.87)&#160;</div>
            </td>
            <td style="width: 7.98%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">(0.87)&#160;</div>
            </td>
            <td colspan="1" style="width: 1%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 7.99%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;*&#160;</div>
            </td>
            <td style="width: 7.8%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 6.92%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">15.31&#160;</div>
            </td>
            <td style="width: 6.38%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">14.55&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc23a1151948b4484b767b8c96857f5dd">

          <tr>
            <td nowrap="nowrap" style="width: 10%; vertical-align: top;">
              <div>(a)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>Total Return Based on Common Share NAV is the combination of changes in common share NAV, reinvested dividend income at NAV and reinvested capital gains distributions at NAV, if any. The last dividend declared in the period, which is
                typically paid on the first business day of the following month, is assumed to be reinvested at the ending NAV. The actual reinvest price for the last dividend declared in the period may often be based on the Fund&#8217;s market price (and not
                its NAV), and therefore may be different from the price used in the calculation. Total returns are not annualized.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div><br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>Total Return Based on Common Share Price is the combination of changes in the market price per share and the effect of reinvested dividend income and reinvested capital gains distributions, if any, at the average price paid per share at
                the time of reinvestment. The last dividend declared in the period, which is typically paid on the first business day of the following month, is assumed to be reinvested at the ending market price. The actual reinvestment for the last
                dividend declared in the period may take place over several days, and in some instances may not be based on the market price, so the actual reinvestment price may be different from the price used in the calculation. Total returns are not
                annualized.</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 10%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 90%; vertical-align: middle;">
              <div>Rounds to less than $0.01 per share.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">62</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4b719199d03547d28088537df60b728b">

          <tr>
            <td style="width: 13.53%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 40.64%; vertical-align: bottom;">
              <div style="text-indent: 10.3pt; text-align: center;"><font style="font-weight: bold;">Common Share Supplemental Data/</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 40.64%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: center;"><font style="font-weight: bold;">Ratios Applicable to Common Shares</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 13.53%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Common Share</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 13.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Total Returns</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 40.64%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Ratios to Average Net Assets(b)</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Based</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ending</font>&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Based</font>&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">on</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Net</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Portfolio</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">on</font>&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Assets</font>&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom;">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Investment</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Turnover</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAV(a)</font>&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Price(a)</font>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(000)</font>&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Expenses</font>&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Income (Loss)</font>&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Rate(c)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="6" style="width: 100%; vertical-align: middle;">
              <div style="text-align: right;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(0.90)%&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 5.35pt; text-align: right;">0.88%&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$2,302,711&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9.2pt; text-align: right;">1.67%&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.00%&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">17%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom;">
              <div style="text-align: right;">16.37&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom;">
              <div style="text-align: right;">18.54&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;">2,418,423&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom;">
              <div style="text-indent: 9.2pt; text-align: right;">2.26&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">4.11&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">11&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.01&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.79&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,163,282&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9.2pt; text-align: right;">2.42&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.48&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">30&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom;">
              <div style="text-align: right;">4.19&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom;">
              <div style="text-align: right;">(2.27)&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-align: right;">2,201,952&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom;">
              <div style="text-indent: 9.2pt; text-align: right;">1.97&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom;">
              <div style="text-align: right;">4.71&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom;">
              <div style="text-align: right;">14&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.63&#160;</div>
            </td>
            <td style="width: 12.49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">(2.89)&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2,221,595&#160;</div>
            </td>
            <td style="width: 18.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1.77&#160;</div>
            </td>
            <td style="width: 21.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4.93&#160;</div>
            </td>
            <td style="width: 13.54%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">23&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z228afe12c8f740ecb8e71630654cfd88">

          <tr>
            <td nowrap="nowrap" style="width: 10%; vertical-align: top;">
              <div>(b)&#160; &#160; &#160;</div>
            </td>
            <td colspan="2" style="width: 90%; vertical-align: middle;">
              <div>&#8226; Net Investment Income (Loss) ratios reflect income earned and expenses incurred (as further described below) on assets attributable to preferred shares issued by the Fund, where applicable.</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 90%; vertical-align: middle;">
              <div>&#8226; The expense ratios reflect, among other things, all interest expense and other costs related to preferred shares (as described in Note 5 &#8211; Fund Shares) and/or the interest expense deemed to have been paid by the Fund on the floating
                rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund (as described in Note 4 &#8211; Portfolio Securities and Investments in Derivatives), where applicable, as follows:</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z7169fc24847244c7a89fedd2981f5e9e">

          <tr>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Year Ended 2/28-2/29:&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom;">
              <div>2021&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>0.74%&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2020&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>1.33&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom;">
              <div>2019&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>1.45&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2018&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>1.02&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>2017&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>0.79&#160;</div>
            </td>
            <td style="width: 70%; vertical-align: top; padding-bottom: 4px;">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbc147ca32d1043939ad547542b040ad8">

          <tr>
            <td nowrap="nowrap" style="width: 5.38%; vertical-align: top;">
              <div>(c)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.62%; vertical-align: middle;">
              <div>Portfolio Turnover Rate is calculated based on the lesser of long-term purchases or sales (as disclosed in Note 4 &#8211; Portfolio Securities and Investments in Derivatives) divided by the average long-term market value during the period.</div>
            </td>
          </tr>

      </table>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">63</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Financial Highlights (continued)</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze5982c4b7d884ed48138fa754b9f8f8e">

          <tr>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10.19%; vertical-align: bottom; text-align: center;">&#160;<font style="font-weight: bold;">iMTP, MFP,</font></td>
          </tr>
          <tr>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10%; vertical-align: bottom;">&#160;</td>
            <td rowspan="1" style="width: 10.19%; vertical-align: bottom; text-align: center;"><font style="font-weight: bold;">VMTP</font> <br>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">and/or VRDP</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: center;">&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Shares at the</font>&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">iMTP Shares</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">MFP Shares at</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-indent: 14.4pt; text-align: center;"><font style="font-weight: bold;">VMTP Shares at the</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">VRDP Shares</font>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">End of the</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">at the End of the Period</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">the End of the Period</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">End of the Period</font>&#160;</div>
            </td>
            <td colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">at the End of the Period</font>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: center;"><font style="font-weight: bold;">&#160;Period</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Aggregate</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Asset</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Aggregate</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Asset</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Aggregate</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Asset</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Aggregate</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Asset</font>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Asset Coverage</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Coverage</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Coverage</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Coverage</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Amount</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Coverage</font>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Per $1</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Outstanding&#160;</font> <br>
              </div>
            </td>
            <td style="width: 10%; vertical-align: bottom; text-align: right;">&#160;<font style="font-weight: bold;">Per $5,000&#160; <br>
              </font></td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Outstanding&#160;</font> <br>
              </div>
            </td>
            <td style="width: 10%; vertical-align: bottom; text-align: right;">&#160;<font style="font-weight: bold;">Per $100,000&#160; <br>
              </font></td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Outstanding</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Per $100,000</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Outstanding</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Per $100,000</font>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Liquidation</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(000)</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(000)</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(000)</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">(000)</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Share</font>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Preference</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Year Ended 2/28-2/29:&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>2021&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$140,400&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$281,045&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$ &#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$292,200&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">$281,045&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;">$2.81&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2020&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">140,400&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">289,705&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">292,200&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">289,705&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.90&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>2019&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">140,400&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">266,617&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">292,200&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">266,617&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;">2.67&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2018&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">140,400&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">268,438&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">292,200&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">268,438&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.68&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>2017&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">36,000&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">13,468&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">396,600&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">269,359&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;">2.69&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" rowspan="1" style="vertical-align: bottom;">
              <div>Year Ended 2/28-2/29:&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2021&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">320,000&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">280,237&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">957,600&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">280,237&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.80&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>2020&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">320,000&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">289,294&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">957,600&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">289,294&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;">2.89&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>2019&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">320,000&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">269,324&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">957,600&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">269,324&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2.69&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom;">
              <div>2018&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">320,000&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">272,351&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">957,600&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;">272,351&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-align: right;">2.72&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>2017&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">145,000&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">301,487&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">957,600&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">301,487&#160;</div>
            </td>
            <td style="width: 10.19%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3.01&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">See accompanying notes to financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">64</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;"><font style="font-size: 24pt;">Notes to</font><br>
        <font style="font-size: 24pt;">Financial Statements<a name="NotestoFinancialStatement"><!--Anchor--></a></font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">1. General Information</font><br>
        <br>
        <br>
        <font style="font-style: italic;">Fund Information</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The funds covered in this report and their corresponding New York Stock Exchange (&#8220;NYSE&#8221;) symbols are as follows (each a &#8220;Fund&#8221; and collectively, the &#8220;Funds&#8221;):</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z97acee058e014f378a0714e3ef84d45b">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Nuveen California Municipal Value Fund (NCA) (formerly Nuveen California Municipal Value Fund, Inc.)</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0b030b2fcbde49dbbe30e94453aa305d">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Nuveen California AMT-Free Quality Municipal Income Fund (NKX)</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zfa4ec17d6af2439484e5fa29d4bc9e41">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Nuveen California Quality Municipal Income Fund (NAC)</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds are registered under the Investment Company Act of 1940 (the &#8220;1940 Act&#8221;), as amended, as diversified closed-end management investment companies. NCA was incorporated under the state laws
        of Minnesota on July 15, 1987. NKX and NAC were organized as Massachusetts business trusts on July 29, 2002 and December 1, 1998, respectively.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The end of the reporting period for the Funds is February 28, 2021, and the period covered by these Notes to Financial Statements is the fiscal year ended February 28, 2021 (the &#8220;current fiscal
        period&#8221;).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Investment Adviser and Sub-Adviser</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds&#8217; investment adviser is Nuveen Fund Advisors, LLC (the &#8220;Adviser&#8221;), a subsidiary of Nuveen, LLC (&#8220;Nuveen&#8221;). Nuveen is the investment management arm of Teachers Insurance and Annuity
        Association of America (TIAA). The Adviser has overall responsibility for management of the Funds, oversees the management of the Funds&#8217; portfolios, manages the Funds&#8217; business affairs and provides certain clerical, bookkeeping and other
        administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub-advisory agreements with Nuveen Asset Management, LLC (the &#8220;Sub-Adviser&#8221;), a subsidiary of the Adviser, under which the Sub-Adviser manages the
        investment portfolios of the Funds.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Fund Merger</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During August 2020, the Board of Directors/Trustees (the &#8220;Board&#8221;) of Nuveen California Municipal Value Fund 2 (NCB) and NCA approved the merger of NCB (the &#8220;Target Fund&#8221;) into NCA (the &#8220;Acquiring
        Fund&#8221;) (the &#8220;Merger&#8221;). The Merger is intended to create one larger fund with lower operating expenses and increased trading volume on the exchange for common shares. The Merger was approved by shareholders of the Target Fund at a special meeting on
        February 17, 2021, and was completed before the opening of business on March 8, 2021 (subsequent to the close of this reporting period). See Note 9. Subsequent Events for further details.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Other Matters</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The outbreak of the novel coronavirus (&#8220;COVID-19&#8221;) and subsequent global pandemic began significantly impacting the U.S. and global financial markets and economies during the calendar quarter ended
        March 31, 2020. The worldwide spread of COVID-19 has created significant uncertainty in the global economy. The duration and extent of COVID-19 over the long term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the
        extent to which COVID-19 impacts the Funds&#8217; normal course of business, results of operations, investments, and cash flows will depend on future developments, which are highly uncertain and difficult to predict. Management continues to monitor and
        evaluate this situation.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">2. Significant Accounting Policies</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;), which may require the use of estimates
        made by management and the evaluation of subsequent events. Actual results may differ from those estimates. Each Fund is an investment company and follows the accounting guidance in the Financial Accounting Standards Board (&#8220;FASB&#8221;) Accounting
        Standards Codification 946, Financial Services&#8212;Investment Companies. The NAV for financial reporting purposes may differ from the NAV for processing security and common share transactions. The NAV for financial reporting purposes includes security
        and common share transactions through the date of the report. Total return is computed based on the NAV used for processing security and common share transactions. The following is a summary of the significant accounting policies consistently
        followed by the Funds.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Compensation</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds pay no compensation directly to those of its directors/trustees who are affiliated with the Adviser or to its officers, all of whom receive remuneration for their services to the Funds
        from the Adviser or its affiliates. The Board has adopted a deferred compensation plan for independent directors/trustees that enables directors/trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to
        receive</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">65</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Notes to Financial Statements (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Distributions to Common Shareholders</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Distributions to common shareholders are recorded on the ex-dividend date. The amount, character and timing of distributions are determined in accordance with federal income tax regulations, which
        may differ from U.S. GAAP.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Indemnifications</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Under the Funds&#8217; organizational documents, their officers and directors/trustees are indemnified against certain liabilities arising out of the performance of their duties to the Funds. In addition,
        in the normal course of business, the Funds enter into contracts that provide general indemnifications to other parties. The Funds&#8217; maximum exposure under these arrangements is unknown as this would involve future claims that may be made against
        the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and expect the risk of loss to be remote.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Investments and Investment Income</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Securities transactions are accounted for as of the trade date for financial reporting purposes. Realized gains and losses on securities transactions are based upon the specific identification
        method. Investment income is comprised of interest income, which is recorded on an accrual basis and includes the amortization of premiums and accretion of discounts for financial reporting purposes. Investment income also reflects payment-in-kind
        (&#8220;PIK&#8221;) interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in lieu of cash.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Netting Agreements</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and Derivatives Association, Inc. (ISDA) master agreements or other similar
        arrangements (&#8220;netting agreements&#8221;). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered
        to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities collateral on a counterparty basis.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds&#8217; investments subject to netting agreements as of the end of the reporting period, if any, are further described in Note 4 &#8211; Portfolio Securities and Investments in Derivatives.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">New Accounting Pronouncements and Rule Issuances</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Reference Rate Reform</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In March 2020, FASB issued Accounting Standards Update (&#8220;ASU&#8221;) 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The main objective of the
        new guidance is to provide relief to companies that will be impacted by the expected change in benchmark interest rates at the end of 2021, when participating banks will no longer be required to submit London Interbank Offered Rate (LIBOR) quotes
        by the UK Financial Conduct Authority (FCA). The new guidance allows companies to, provided the only change to existing contracts are a change to an approved benchmark interest rate, account for modifications as a continuance of the existing
        contract without additional analysis. For new and existing contracts, the Funds may elect to apply the optional expedients as of March 12, 2020 through December 31, 2022. Management has not yet elected to apply the optional expedients, but is
        currently assessing the impact of the ASU&#8217;s adoption to the Funds&#8217; financial statements and various filings.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Securities and Exchange Commission (&#8220;SEC&#8221;) Adopts New Rules to Modernize Fund Valuation Framework</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In December 2020, the SEC voted to adopt a new rule governing fund valuation practices. New Rule 2a-5 under the 1940 Act establishes requirements for determining fair value in good faith for
        purposes of the 1940 Act. Rule 2a-5 will permit fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are &#8220;readily
        available&#8221; for purposes of Section 2(a)(41) of the 1940 Act, which requires a fund to fair value a security when market quotation are not readily available. The SEC also adopted new Rule 31a-4 under the 1940 Act, which sets forth the recordkeeping
        requirements associated with fair value determinations. Finally, the SEC is rescinding previously issued guidance on related issues, including the role of a board in determining fair value and the accounting and auditing of fund investments. Rule
        2a-5 and Rule 31a-4 became effective on March 8, 2021, with a compliance date of September 8, 2022. A fund may voluntarily comply with the rules after the effective date, and in advance of the compliance date, under certain conditions. Management
        is currently assessing the impact of these provisions on the Funds&#8217; financial statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">3. Investment Valuation and Fair Value Measurements</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds&#8217; investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board. Fair value is defined as the price that would be received upon
        selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">66</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions
        market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management&#8217;s assumptions about the assumptions market
        participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 9pt;">Level 1 &#8211; Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 9pt;">Level 2 &#8211; Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 9pt;">Level 3 &#8211; Prices are determined using significant unobservable inputs (including management&#8217;s assumptions in determining the fair value of investments).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">A description of the valuation techniques applied to the Funds&#8217; major classifications of assets and liabilities measured at fair value follows:</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Prices of fixed-income securities are generally provided by an independent pricing service (&#8220;pricing service&#8221;) approved by the Board. The pricing service establishes a security&#8217;s fair value using
        methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash
        flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing
        service may consider information about a security, its issuer or market activity, provided by the Adviser. These securities are generally classified as Level 2.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Any portfolio security or derivative for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value,
        as determined in good faith using procedures approved by the Board. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors
        may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of
        value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor&#8217;s credit characteristics considered relevant. To the extent the inputs are
        observable and timely, the values would be classified as Level 2 of the fair value hierarchy; otherwise they would be classified as Level 3.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The following table summarizes the market value of the Funds&#8217; investments as of the end of the reporting period, based on the inputs used to value them:</div>
      <table cellspacing="0" cellpadding="0" id="z1e57df6686c246d2aedb9b1ed5afdaa5" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NCA</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Level 1</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Level 2</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Level 3</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">Total</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Long-Term Investments*:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Municipal Bonds&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>292,245,209</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>292,245,209</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%;">
              <div>Long-Term Investments*:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Municipal Bonds&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1,224,000,722</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1,224,000,722</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: rgb(204, 238, 255);">
              <div>Long-Term Investments*:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Municipal Bonds&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>3,549,874,453</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>3,549,874,453</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zda8130a235ec4142977d46afee8d199e">

          <tr>
            <td nowrap="nowrap" style="width: 4.14%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.86%; vertical-align: middle;">
              <div>Refer to the Fund&#8217;s Portfolio of Investments for industry classifications.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">4. Portfolio Securities and Investments in Derivatives</font><br>
        <br>
        <font style="font-weight: bold;">Portfolio Securities</font><br>
        <br>
        <font style="font-style: italic;">Inverse Floating Rate Securities</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created by depositing a municipal bond (referred to as an &#8220;Underlying Bond&#8221;), typically
        with a fixed interest rate, into a special purpose tender option bond (&#8220;TOB&#8221;) trust (referred to as the &#8220;TOB Trust&#8221;) created by or at the direction of one or more Funds. In turn, the TOB Trust issues (a) floating rate certificates (referred to as
        &#8220;Floaters&#8221;), in face amounts equal to some fraction of the Underlying Bond&#8217;s par amount or market value, and (b) an inverse floating rate certificate (referred to as an &#8220;Inverse Floater&#8221;) that represents all remaining or residual interest in the
        TOB Trust. Floaters typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value, which may be paid from the proceeds of a remarketing of the Floaters, by a
        loan to the TOB Trust from a third party liquidity provider (&#8220;Liquidity Provider&#8221;), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more of the Funds. The income received by the
        Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse Floater holder bears substantially all of the Underlying Bond&#8217;s downside investment risk and also benefits
        disproportionately from any potential appreciation of the Underlying Bond&#8217;s value. The value of an Inverse</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">67</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Notes to Financial Statements (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Floater will be more volatile than that of the Underlying Bond because the interest rate is dependent on not only the fixed coupon rate of the Underlying Bond but also on the short-term interest
        paid on the Floaters, and because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more than par in certain circumstances), and (b)
        have the trustee of the TOB Trust (the &#8220;Trustee&#8221;) transfer the Underlying Bond held by the TOB Trust to the Fund, thereby collapsing the TOB Trust.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may acquire an Inverse Floater in a transaction where it (a) transfers an Underlying Bond that it owns to a TOB Trust created by a third party or (b) transfers an Underlying Bond that it
        owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a &#8220;self-deposited
        Inverse Floater&#8221;). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first owning the Underlying Bond (referred to as an &#8220;externally-deposited Inverse Floater&#8221;).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">An investment in a self-deposited Inverse Floater is accounted for as a &#8220;financing&#8221; transaction (i.e., a secured borrowing). For a self-deposited Inverse Floater, the Underlying Bond deposited into
        the TOB Trust is identified in the Fund&#8217;s Portfolio of Investments as &#8220;(UB) &#8211; Underlying bond of an inverse floating rate trust reflected as a financing transaction,&#8221; with the Fund recognizing as liabilities, labeled &#8220;Floating rate obligations&#8221; on
        the Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu
        of a remarketing. In addition, the Fund recognizes in &#8220;Investment Income&#8221; the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB Trust&#8217;s borrowings, and (b) other expenses
        related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations. Earnings due from the Underlying Bond and interest
        due to the holders of the Floaters as of the end of the reporting period are recognized as components of &#8220;Receivable for interest&#8221; and &#8220;Payable for interest&#8221; on the Statement of Assets and Liabilities, respectively.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the Fund&#8217;s Portfolio of Investments as &#8220;(IF) &#8211;
        Inverse floating rate investment.&#8221; For an externally-deposited Inverse Floater, a Fund&#8217;s Statement of Assets and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or
        any related borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in &#8220;Investment Income&#8221; only the net amount of earnings on the Inverse Floater (net of the interest paid to the holders of the Floaters or the
        Liquidity Provider as lender, and the expenses of the Trust), and does not show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of the cost basis of the Inverse Floater and are
        capitalized over the term of the TOB Trust.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of the end of the reporting period, the aggregate value of Floaters issued by each Fund&#8217;s TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:</div>
      <table cellspacing="0" cellpadding="0" id="za6bf37ef87884c89b89968cff9e9314f" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Floating Rate Obligations Outstanding</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Floating rate obligations: self-deposited Inverse Floaters&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>20,975,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4,185,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Floating rate obligations: externally-deposited Inverse Floaters&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>11,250,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>28,500,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>32,225,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>32,685,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average annual interest rate and fees related to
        self-deposited Inverse Floaters, were as follows:</div>
      <table cellspacing="0" cellpadding="0" id="z76fb9b5018db4fe7ab1286fcb5a3ff4a" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Self-Deposited Inverse Floaters</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Average floating rate obligations outstanding&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>20,975,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>21,704,068</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Average annual interest rate and fees&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>%</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>0.93</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>%</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>0.98</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>%</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">TOB Trusts are supported by a liquidity facility provided by a Liquidity Provider pursuant to which the Liquidity Provider agrees, in the event that Floaters are (a) tendered to the Trustee for
        remarketing and the remarketing does not occur, or (b) subject to mandatory tender pursuant to the terms of the TOB Trust agreement, to either purchase Floaters or to provide the Trustee with an advance from a loan facility to fund the purchase of
        Floaters by the TOB Trust. In certain circumstances, the Liquidity Provider may otherwise elect to have the Trustee sell the Underlying Bond to retire the Floaters that were tendered and not remarketed prior to providing such a loan. In these
        circumstances, the Liquidity Provider remains obligated to provide a loan to the extent that the proceeds of the sale of the Underlying Bond is not sufficient to pay the purchase price of the Floaters.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The size of the commitment under the loan facility for a given TOB Trust is at least equal to the balance of that TOB Trust&#8217;s outstanding Floaters plus any accrued interest. In consideration of the
        loan facility, fee schedules are in place and are charged by the Liquidity Provider(s). Any loans made by the Liquidity Provider will be secured by the purchased Floaters held by the TOB Trust. Interest paid on any outstanding loan balances will be
        effectively</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">68</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">borne by the Fund that owns the Inverse Floaters of the TOB Trust that has incurred the borrowing and may be at a rate that is greater than the rate that would have been paid had the Floaters been
        successfully remarketed.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As described above, any amounts outstanding under a liquidity facility are recognized as a component of &#8220;Floating rate obligations&#8221; on the Statement of Assets and Liabilities by the Fund holding the
        corresponding Inverse Floaters issued by the borrowing TOB Trust. As of the end of the reporting period, there were no loans outstanding under any such facility for any of the Funds as of the end of the reporting period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a &#8220;recourse arrangement&#8221;) (TOB Trusts involving such agreements are referred to herein as &#8220;Recourse
        Trusts&#8221;), under which a Fund agrees to reimburse the Liquidity Provider for the Trust&#8217;s Floaters, in certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the
        sum of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus any shortfalls in interest cash flows. Under these agreements, a Fund&#8217;s potential exposure to losses
        related to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts owed to holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the
        aggregate is recognized as &#8220;Unrealized depreciation on Recourse Trusts&#8221; on the Statement of Assets and Liabilities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of the end of the reporting period, each Fund&#8217;s maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as
        follows:</div>
      <table cellspacing="0" cellpadding="0" id="z139edf86240a40d0bbd7213cad316e44" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">Floating Rate Obligations &#8211; Recourse Trusts</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Maximum exposure to Recourse Trusts: self-deposited Inverse Floaters&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>20,975,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4,185,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Maximum exposure to Recourse Trusts: externally-deposited Inverse Floaters&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>11,250,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>28,500,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Total&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>32,225,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>32,685,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Zero Coupon Securities</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the
        original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that
        pay interest periodically.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z426f70c421c9435a85b1155746cc51f3">

          <tr>
            <td style="width: 68.68%; vertical-align: bottom;">
              <div><font style="font-style: italic;">Investment Transactions</font>&#160;</div>
            </td>
            <td style="width: 9.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z63080fb5990f43408001f65cbbbfed4d">

          <tr>
            <td style="width: 68.68%; vertical-align: bottom;">
              <div>Long-term purchases and sales (including maturities) during the current fiscal period were as follows:&#160;</div>
            </td>
            <td style="width: 9.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z4c6a64486d304f29875b7809cb72c6fe" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Purchases&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>27,751,161</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>103,699,956</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>612,852,560</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Sales and maturities&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>27,436,948</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>97,390,491</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>614,497,263</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased on a when-issued or delayed-delivery basis may have extended settlement periods; interest income is
        not accrued until settlement date. Any securities so purchased are subject to market fluctuation during this period. The Funds have earmarked securities in their portfolios with a current value at least equal to the amount of the when-issued/
        delayed-delivery purchase commitments. If a Fund has outstanding when-issued/delayed-delivery purchases commitments as of the end of the reporting period, such amounts are recognized on the Statement of Assets and Liabilities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Investments in Derivatives</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In addition to the inverse floating rate securities in which each Fund may invest, which are considered portfolio securities for financial reporting purposes, each Fund is authorized to invest in
        certain derivative instruments such as futures, options and swap contracts. Each Fund limits its investments in futures, options on futures and swap contracts to the extent necessary for the Adviser to claim the exclusion from registration by the
        Commodity Futures Trading Commission as a commodity pool operator with respect to the Fund. The Funds record derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though
        the Funds&#8217; investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Although the Funds are authorized to invest in derivative instruments and may do so in future, they did not make any such investments during the current fiscal period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Market and Counterparty Credit Risk</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In the normal course of business each Fund may invest in financial instruments and enter into financial transactions where risk of potential loss exists due to changes in the market (market risk) or
        failure of the other party to the transaction to perform (counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets, which potentially expose each Fund to
        counterparty credit risk,</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">69</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Notes to Financial Statements (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">consist principally of cash due from counterparties on forward, option and swap transactions, when applicable. The extent of each Fund&#8217;s exposure to counterparty credit risk in respect to these
        financial assets approximates their carrying value as recorded on the Statement of Assets and Liabilities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial resources to honor their obligations and by having the
        Adviser monitor the financial stability of the counterparties. Additionally, counterparties may be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal to
        the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the
        amount of the unrealized loss above a pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by at least the pre-determined threshold amount.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">5. Fund Shares</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Common Shares</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Common Shares Equity Shelf Programs and Offering Costs</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The following Fund has filed a registration statement with the Securities and Exchange Commission (&#8220;SEC&#8221;) authorizing the Fund to issue additional common shares through one or more equity shelf
        programs (&#8220;Shelf Offering&#8221;), which became effective with the SEC during prior fiscal periods.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Under this Shelf Offering, the Fund, subject to market conditions, may raise additional equity capital by issuing additional common shares from time to time in varying amounts and by different
        offering methods at a net price at or above the Fund&#8217;s NAV per common share. In the event the Fund&#8217;s Shelf Offering registration statement is no longer current, the Fund may not issue additional common shares until a post-effective amendment to the
        registration statement has been filed with the SEC.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Additional authorized common shares, common shares sold and offering proceeds, net of offering costs under the Fund&#8217;s Shelf Offering during the Fund&#8217;s current fiscal period were as follows:</div>
      <table cellspacing="0" cellpadding="0" id="zc963d683a5fb4a9585036fa500f1f371" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="6" rowspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: center;"><font style="font-weight: bold;"> NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;"> Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Year</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-weight: bold;"> 2/28/21</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-weight: bold;">2/29/20</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Additional authorized common shares&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4,100,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>*</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div>Common shares sold&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Offering proceeds, net of offering cost&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z66bbadf36d0d4d6b8c339db53e9e98b9">

          <tr>
            <td style="width: 71.85%; vertical-align: bottom;">
              <div>* Represents additional authorized common shares for the period July 10, 2020 through February 28, 2021.&#160;</div>
            </td>
            <td style="width: 21.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.29%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Costs incurred by the Fund in connection with its initial shelf registration are recorded as a prepaid expense and recognized as &#8220;Deferred offering costs&#8221; on the Statement of Assets and Liabilities.
        These costs are amortized pro rata as common shares are sold and are recognized as a component of &#8220;Proceeds from shelf offering, net of offering costs&#8221; on the Statement of Changes in Net Assets. Any deferred offering costs remaining one year after
        the effectiveness of the initial shelf registration will be expensed. Costs incurred by the Fund to keep the shelf registration current are expensed as incurred and recognized as a component of &#8220;other expenses&#8221; on the Statement of Operations.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z952d9f2a0fc14009b04b94d3bdd7b498">

          <tr>
            <td style="width: 59.44%; vertical-align: bottom;">
              <div><font style="font-style: italic;">Common Share Transactions</font>&#160;</div>
            </td>
            <td style="width: 29.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 4.42%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.29%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3057e5e882794c14bb8f56d0cee8269b">

          <tr>
            <td style="width: 89.29%; vertical-align: bottom;">
              <div>Transactions in common shares for the Funds during the Funds&#8217; current and prior fiscal period, where applicable, were as follows:&#160;</div>
            </td>
            <td style="width: 4.42%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.29%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zdfe4d59c2acc4b5792caa05dae61e98f" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td style="vertical-align: bottom; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td colspan="2" rowspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>
                <div style="text-align: center;"><font style="font-weight: bold;">&#160;NCA</font> <br>
                </div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">&#160;Year</font>&#160;</div>
            </td>
            <td style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Year</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font>&#160;</div>
            </td>
            <td style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Ended</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-weight: bold;">&#160;2/28/21</font>&#160;</div>
            </td>
            <td style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-weight: bold;">2/29/20</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Common shares:&#160;</div>
            </td>
            <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Issued to shareholders due to reinvestment of distributions&#160;</div>
            </td>
            <td style="vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">5,684&#160;</div>
            </td>
            <td style="vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#8212;&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Preferred Shares<br>
        <br>
        MuniFund Preferred Shares</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">NKX and NAC have issued and have outstanding MuniFund Preferred (&#8220;MFP&#8221;) Shares, with a $100,000 liquidation preference per share. These MFP</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Shares were issued via private placement and are not publically available.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">70</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds are obligated to redeem their MFP Shares by the date as specified in its offering documents (&#8220;Term Redemption Date&#8221;), unless earlier redeemed by the Funds. MFP Shares are initially issued
        in a pre-specified mode, however, MFP Shares can be subsequently designated as an alternative mode at a later date at the discretion of the Funds. The modes within MFP Shares detail the dividend mechanics and are described as follows. At a
        subsequent date, the Funds may establish additional mode structures with the MFP Share.</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze20026b3f3b04769a014a04af4eae943">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Variable Rate Remarketed Mode (&#8220;VRRM&#8221;) &#8211; Dividends for MFP Shares within this mode will be established by a remarketing agent; therefore,&#160;market value of the MFP Shares is expected to approximate its liquidation preference.
                  Shareholders have the ability to request a best-efforts tender&#160;of its shares upon seven days notice. If the remarketing agent is unable to identify an alternative purchaser, the shares will be retained by the&#160;shareholder requesting tender
                  and the subsequent dividend rate will increase to its step-up dividend rate. If after one consecutive year of&#160;unsuccessful remarketing attempts, the Fund will be required to designate an alternative mode or redeem the shares.<br>
                  Each Fund will pay a remarketing fee on the aggregate principal amount of all MFP Shares while designated in VRRM. Payments made by the Fund&#160;to the remarketing agent are recognized as &#8220;Remarketing fees&#8221; on the Statement of Operations.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2f00ae700a9d4f80a4f9d694aa058b0c">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Variable Rate Mode (&#8220;VRM&#8221;) &#8211; Dividends for MFP Shares designated in this mode are based upon a short-term index plus an additional fixed&#160;&#8220;spread&#8221; amount established at the time of issuance or renewal / conversion of its mode. At the
                  end of the period of the mode, the Fund will be&#160;required to either extend the term of the mode, designate an alternative mode or redeem the MFP Shares.<br>
                </div>
                <div style="margin: 12pt 0px 0px;"> The fair value of MFP Shares while in VRM are expected to approximate their liquidation preference so long as the fixed &#8220;spread&#8221; on the shares&#160;remains roughly in line with the &#8220;spread&#8221; being demanded by
                  investors on instruments having similar terms in the current market. In current market&#160;conditions, the Adviser has determined that the fair value of the shares are approximately their liquidation preference, but their fair value could
                  vary if&#160;market conditions change materially.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze26acfdbef034001a1ff214431787160">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>Variable Rate Demand Mode (&#8220;VRDM&#8221;) &#8211; Dividends for MFP Shares designated in this mode will be established by a remarketing agent; therefore,&#160;the market value of the MFP Shares is expected to approximate its liquidation preference.
                  While in this mode, Shares will have an unconditional&#160;liquidity feature that enable its shareholders to require a liquidity provider, which the Fund has entered into a contractual agreement, to purchase&#160;shares in the event that the shares
                  are not able to be successfully remarketed. In the event that shares within this mode are unable to be successfully&#160;remarketed and are purchased by the liquidity provider, the dividend rate will be the maximum rate which is designed to
                  escalate according to a&#160;specified schedule in order to enhance the remarketing agent&#8217;s ability to successfully remarket the shares. Each Fund is required redeem any shares&#160;that are still owned by a liquidity provider after six months of
                  continuous, unsuccessful remarketing.<br>
                </div>
                <div style="margin: 12pt 0px 0px;"> The Fund will pay a liquidity and remarketing fee on the aggregate principal amount of all MFP shares while within VRDM. Payments made by the&#160;Fund to the liquidity provider and remarketing agent are
                  recognized as &#8220;Liquidity fees&#8221; and &#8220;Remarketing fees&#8221;, respectively, on the Statement&#160;Operations.</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For financial reporting purposes, the liquidation preference of MFP Shares is recorded as a liability and is recognized as a component of &#8220;MuniFund Preferred (&#8220;MFP&#8221;) Shares, net of deferred offering
        costs&#8221; on the Statement of Assets and Liabilities. Dividends on the MFP shares are treated as interest payments for financial reporting purposes. Unpaid dividends on MFP shares are recognized as a component on &#8220;Interest payable&#8221; on the Statement of
        Assets and Liabilities. Dividends accrued on MFP Shares are recognized as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Subject to certain conditions, MFP Shares may be redeemed, in whole or in part, at any time at the option of the Fund. The Fund may also be required to redeem certain MFP shares if the Fund fails to
        maintain certain asset coverage requirements and such failures are not cured by the applicable cure date. The redemption price per share in all circumstances is equal to the liquidation preference per share plus any accumulated but unpaid
        dividends.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Costs incurred connection with each Fund&#8217;s offering of MFP Shares were recorded as deferred charges and are amortized over the life of the shares and are recognized as a component of &#8220;MuniFund
        Preferred (&#8220;MFP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities and &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of the end of the reporting period, details of each Fund&#8217;s MFP Shares outstanding as of the end of the reporting period, were as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z457832a7a13e4f4a8364896078e16a15">

          <tr>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Liquidation</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Preference,</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Shares</font>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Liquidation</font>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">net of deferred</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Term</font>&#160;</div>
            </td>
            <td style="width: 8.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Mode</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.4%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Series</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Outstanding</font>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Preference</font>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">offering costs</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Redemption Date</font>&#160;</div>
            </td>
            <td style="width: 8.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Mode</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Termination Date</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,404&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$140,400,000&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$139,994,166&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">10/01/47&#160;</div>
            </td>
            <td style="width: 8.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">VRRM&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/A&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.4%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">3,200&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">320,000,000&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">319,800,669&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1/03/28&#160;</div>
            </td>
            <td style="width: 8.24%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">VRM&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1/03/28*&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zc218f63592ec4addb7dbb218681f31e9">

          <tr>
            <td nowrap="nowrap" style="width: 4.14%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.86%; vertical-align: middle;">
              <div>Subject to earlier termination by either the Fund or the holder.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">71</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Notes to Financial Statements (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The average liquidation preference of MFP Shares outstanding and annualized dividend rate for the Funds during the current fiscal period were as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zdc0c81bf1bea42948601b2306d90d4c0">

          <tr>
            <td style="width: 55.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.53%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.74%; vertical-align: bottom;">
              <div>Average liquidation preference of MFP Shares outstanding&#160;</div>
            </td>
            <td style="width: 33.53%; vertical-align: bottom;">
              <div style="text-align: right;">$140,400,000&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom;">
              <div style="text-align: right;">$320,000,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.74%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Annualized dividend rate&#160;</div>
            </td>
            <td style="width: 33.53%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.96%&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1.07%&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Variable Rate Demand Preferred Shares</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The following Funds have issued and have outstanding Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, with a $100,000 liquidation preference per share. VRDP Shares are issued via private placement
        and are not publicly available.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of the end of the reporting period, NKX and NAC had $290,507,598 and $954,232,372 VRDP Shares at liquidation preference, net of deferred offering costs, respectively. Further details of the
        Funds&#8217; VRDP Shares outstanding as of the reporting period, were as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z6dbee8f0baa44a7c87c161891c5f24dc">

          <tr>
            <td style="width: 24.74%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Shares</font>&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Remarketing</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">Liquidation</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Series</font>&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Outstanding</font>&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Fees*</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Preference</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Maturity</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">2&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">355&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.10%&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$ 35,500,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">June 1, 2040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom;">
              <div style="text-align: right;">3&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;">427&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div style="text-align: right;">0.05&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">42,700,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">March 1, 2040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">4&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,090&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.10&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">109,000,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">December 1, 2040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">6&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1,050&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.10&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">105,000,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">June 1, 2046&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,362&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.10%&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$136,200,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">June 1, 2041&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom;">
              <div style="text-align: right;">2&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;">910&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div style="text-align: right;">N/A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">91,000,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">December 1, 2040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">3&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">498&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.05&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">49,800,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">March 1, 2040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom;">
              <div style="text-align: right;">4&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;">1,056&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div style="text-align: right;">0.10&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">105,600,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">December 1, 2042&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">5&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">1,589&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">N/A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">158,900,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">August 1, 2040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom;">
              <div style="text-align: right;">6&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom;">
              <div style="text-align: right;">1,581&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom;">
              <div style="text-align: right;">0.10&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">158,100,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-align: right;">August 1, 2040&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">7&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">980&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.10&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">98,000,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">August 3, 2043&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 24.74%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 26.81%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">8&#160;</div>
            </td>
            <td style="width: 12.37%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">1,600&#160;</div>
            </td>
            <td style="width: 13.4%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">N/A&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">160,000,000&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">November 6, 2026&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">* Remarketing fees as a percentage of the aggregate principal amount of all VRDP Shares outstanding for each series.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">N/A Not applicable. Series is considered to be Special Rate VRDP and therefore does not pay a remarketing fee.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">VRDP Shares include a liquidity feature that allows VRDP shareholders to have their shares purchased by a liquidity provider with whom each Fund has contracted in the event that VRDP Shares are not
        able to be successfully remarketed. Each Fund is required to redeem any VRDP Shares that are still owned by the liquidity provider after six months of continuous, unsuccessful remarketing. Each Fund pays an annual remarketing fee on the aggregate
        principal amount of all VRDP Shares outstanding. Each Fund&#8217;s VRDP Shares have successfully remarketed since issuance.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">NAC&#8217;s Series 2, Series 5 and Series 8 VRDP Shares are considered to be Special Rate VRDP, which are sold to institutional investors. The special rate period will expire on February 7, 2022, June 14,
        2023 and November 6, 2026, for the Fund&#8217;s Series 2, 5 and 8 VRDP Shares, respectively. The special rate period for NAC&#8217;s Series 8 VRDP Shares is subject to earlier termination by either the Fund or the holder. During the special rate period, the
        VRDP Shares will not be remarketed by a remarketing agent, be subject to optional or mandatory tender events, or be supported by a liquidity provider and are not subject to remarketing fees or liquidity fees. During the special rate period, VRDP
        dividends will be set monthly as a floating rate based on the predetermined formula. Following the initial special rate period, Special Rate Period VRDP Shares may transition to traditional VRDP Shares with dividends set at weekly remarketings, and
        be supported by designated liquidity provider, or the Board may approve a subsequent special rate period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Dividends on the VRDP Shares (which are treated as interest payments for financial reporting purposes) are set at a rate established by a remarketing agent; therefore, the market value of the VRDP
        Shares is expected to approximate its liquidation preference. In the event that VRDP shares are unable to be successfully remarketed, the dividend rate will be the maximum rate which is designed to escalate according to a specified schedule in
        order to enhance the remarketing agent&#8217;s ability to successfully remarket the VRDP Shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Subject to certain conditions, VRDP Shares may be redeemed, in whole or in part, at any time at the option of each Fund. Each Fund may also redeem certain of the VRDP Shares if the Fund fails to
        maintain certain asset coverage requirements and such failures are not cured by the applicable cure date. The redemption price per share is equal to the sum of the liquidation preference per share plus any accumulated but unpaid dividends.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The average liquidation preference of VRDP Shares outstanding and annualized dividend rate for each Fund during the current fiscal period were as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z346ea201747d4e1da37527715f7e2e80">

          <tr>
            <td style="width: 55.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.53%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Average liquidation preference of VRDP Shares outstanding&#160;</div>
            </td>
            <td style="width: 33.53%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$292,200,000&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$957,600,000&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.74%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Annualized dividend rate&#160;</div>
            </td>
            <td style="width: 33.53%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.44%&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.82%&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">72
        <div><br>
        </div>
        <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
          <div id="DSPFPageBreak" style="page-break-after: always;">
            <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
          <div id="DSPFPageHeader" style="width: 100%;">
            <div><a href="#TableofContents">Table of Contents<br>
              </a> </div>
            <div><a href="#TableofContents"> </a></div>
          </div>
        </div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For financial reporting purposes, the liquidation preference of VRDP Shares is a liability and is recognized as a component of &#8220;Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, net of deferred
        offering costs&#8221; on the Statement of Assets and Liabilities. Unpaid dividends on VRDP Shares are recognized as a component of &#8220;Interest payable&#8221; on the Statement of Assets and Liabilities, when applicable. Dividends accrued on VRDP Shares are
        recognized as a component of &#8220;Interest expense and amortization of offering costs&#8221; on the Statement of Operations. Costs incurred by the Funds in connection with their offerings of VRDP Shares were recorded as a deferred charge, which are being
        amortized over the life of the shares and are recognized as a component of &#8220;Variable Rate Demand Preferred (&#8220;VRDP&#8221;) Shares, net of deferred offering costs&#8221; on the Statement of Assets and Liabilities and &#8220;Interest expense and amortization of
        offerings costs&#8221; on the Statement of Operations. In addition to interest expense, each Fund also pays a per annum liquidity fee to the liquidity provider, as well as a remarketing fee, which are recognized as &#8220;Liquidity fees&#8221; and &#8220;Remarketing
        fees,&#8221; respectively, on the Statement of Operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Preferred Share Transactions</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds did not have any transactions in preferred shares during the current and prior fiscal period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">6. Income Tax Information</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and to
        otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required. Furthermore, each Fund intends to satisfy conditions that will
        enable interest from municipal securities, which is exempt from regular federal and California state income taxes, and in the case of NKX the AMT applicable to individuals, to retain such tax-exempt status when distributed to shareholders of the
        Funds. Net realized capital gains and ordinary income distributions paid by the Funds are subject to federal taxation.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For all open tax years and all major taxing jurisdictions, management of the Funds has concluded that there are no significant uncertain tax positions that would require recognition in the financial
        statements. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore, management of the Funds is also not aware of any tax
        positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in
        recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the
        extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the
        NAVs of the Funds.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The table below presents the cost and unrealized appreciation (depreciation) of each Fund&#8217;s investment portfolio, as determined on a federal income tax basis, as of February 28, 2021.</div>
      <table cellspacing="0" cellpadding="0" id="zdbb0505289f24a8699a8d93c62f430b3" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Tax cost of investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>256,773,536</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1,057,069,558</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>3,188,124,495</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Gross unrealized:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Appreciation&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>35,811,770</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>146,830,333</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>362,776,677</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-indent: 9pt;">Depreciation&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(340,097</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(874,084</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(5,211,719</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>)</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Net unrealized appreciation (depreciation) of investments&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>35,471,673</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>145,956,249</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>357,564,958</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Permanent differences, primarily due to federal taxes paid, paydowns, taxable market discount, nondeductible reorganization expenses, and nondeductible offering costs, resulted in reclassifications
        among the Funds&#8217; components of common share net assets as of February 28, 2021, the Funds&#8217; tax year end.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The tax components of undistributed net tax-exempt income, net ordinary income and net long-term capital gains as of February 28, 2021, the Funds&#8217; tax year end, were as follows:</div>
      <table cellspacing="0" cellpadding="0" id="z36c24e8fab42458bb204ede5a68c0aa7" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Undistributed net tax-exempt income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>436,276</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>3,505,235</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>7,690,845</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Undistributed net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>57,481</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>293,041</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>410,187</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Undistributed net long-term capital gains&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za0053db3cdad4c7b844cfb70c63d6671">

          <tr>
            <td nowrap="nowrap" style="width: 4.41%; vertical-align: top;">
              <div>1&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.59%; vertical-align: middle;">
              <div>Undistributed net tax-exempt income (on a tax basis) has not been reduced for the dividend declared on February 1, 2021, paid on March 1, 2021.</div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 4.41%; vertical-align: top;">
              <div>2&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.59%; vertical-align: middle;">
              <div>Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">73</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Notes to Financial Statements (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The tax character of distributions paid during the Funds&#8217; tax years ended February 28, 2021 and February 29, 2020 was designated for purposes of the dividends paid deduction as follows:</div>
      <table cellspacing="0" cellpadding="0" id="z04a65564379344b1a8c6807b59ae0c1b" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: middle;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">2021</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Distributions from net tax-exempt income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>8,933,471</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>30,553,255</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>91,719,591</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Distributions from net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>97,360</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>404,272</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Distributions from net long-term capital gains&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-weight: bold;">2020</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Distributions from net tax-exempt income&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>9,607,122</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>35,648,711</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>117,845,124</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Distributions from net ordinary income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>291,702</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>476,406</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Distributions from net long-term capital gains&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zfcaa363c6c42432ba7be4511c7aa40fd">

          <tr>
            <td style="width: 70.46%; vertical-align: bottom;">
              <div>2 Net ordinary income consists of taxable market discount income and net short-term capital gains, if any.&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70.46%; vertical-align: bottom;">
              <div>3 The Funds hereby designate these amounts paid during the fiscal year ended February 28, 2021, as Exempt Interest Dividends.&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.73%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As of February 28, 2021, the Funds&#8217; tax year end, the Funds had unused capital losses carrying forward available for federal income tax purposes to be applied against future capital gains, if any.
        The capital losses are not subject to expiration.</div>
      <table cellspacing="0" cellpadding="0" id="z00d03aed56154035994ebf2b8d01cc97" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Not subject to expiration:&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div style="text-indent: 9pt;">Short-term&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>1,966,743</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>1,301,642</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>22,025,202</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;">Long-term&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#8212;</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Total&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>1,966,743</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>1,301,642</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>22,025,202</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zdcea128bc63446f493f81b00f2a7b1a7">

          <tr>
            <td style="width: 72.24%; vertical-align: bottom;">
              <div>4 A portion of NAC&#8217;s capital loss carryforward is subject to limitation under the Internal Revenue Code and related regulations.&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 72.24%; vertical-align: bottom;">
              <div>During the Funds&#8217; tax year ended February 28, 2021, NCA utilized $797,046 of its capital loss carryforward.&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">7. Management Fees and Other Transactions with Affiliates</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Management Fees</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund&#8217;s management fee compensates the Adviser for overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the
        Funds from the management fees paid to the Adviser.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund&#8217;s management fee consists of two components &#8211; a fund-level fee, based only on the amount of assets within each individual Fund, and a complex-level fee, based on the aggregate amount of
        all eligible fund assets managed by the Adviser, and for NCA a gross interest income component. This pricing structure enables Fund shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount
        of complex-wide assets managed by the Adviser.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">NCA pays an annual fund-level fee, payable monthly, of 0.15% of the average daily net assets of the Fund, as well as 4.125% of the gross interest income (excluding interest on bonds underlying a
        &#8220;self-deposited inverse floater&#8221; trust that is attributed to the Fund over and above the net interest earned on the inverse floater itself) of the Fund.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5b49b886ae7d4e10aa4b2ba85aeb0d01">

          <tr>
            <td style="width: 85.86%; vertical-align: bottom;">
              <div>The annual fund-level fee, payable monthly, for each Fund (excluding NCA) is calculated according to the following schedules:&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zab70ecf429ad4ada8506bbe9fe2e7a91">

          <tr>
            <td style="width: 85.86%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Average Daily Managed Assets*</font>&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Fund-Level Fee Rate</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>For the first $125 million&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 42.5pt; text-align: right;">0.4500%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom;">
              <div>For the next $125 million&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom;">
              <div style="text-align: right;">0.4375&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>For the next $250 million&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.4250&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom;">
              <div>For the next $500 million&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom;">
              <div style="text-align: right;">0.4125&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>For the next $1 billion&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.4000&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom;">
              <div>For the next $3 billion&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom;">
              <div style="text-align: right;">0.3750&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 85.86%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>For managed assets over $5 billion&#160;</div>
            </td>
            <td style="width: 14.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0.3625&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">74</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The annual complex-level fee, payable monthly, for each Fund is calculated by multiplying the current complex-wide fee rate, determined according to the following schedule by the Funds&#8217; daily
        managed assets (net assets for NCA):</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf9e21e0d333e49d2be2649cc62fbfbb8">

          <tr>
            <td style="width: 47.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-weight: bold;">Complex-Level Eligible Asset Breakpoint Level*</font>&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">Effective Complex-Level Fee Rate at Breakpoint Level</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>$55 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 144.75pt; text-align: right;">0.2000%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom;">
              <div>$56 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom;">
              <div style="text-indent: 144.75pt; text-align: right;">0.1996&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>$57 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 144.75pt; text-align: right;">0.1989&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom;">
              <div>$60 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom;">
              <div style="text-indent: 144.75pt; text-align: right;">0.1961&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>$63 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 144.75pt; text-align: right;">0.1931&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom;">
              <div>$66 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom;">
              <div style="text-indent: 144.75pt; text-align: right;">0.1900&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>$71 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 144.75pt; text-align: right;">0.1851&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom;">
              <div>$76 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom;">
              <div style="text-indent: 144.75pt; text-align: right;">0.1806&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>$80 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 144.75pt; text-align: right;">0.1773&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom;">
              <div>$91 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom;">
              <div style="text-indent: 144.75pt; text-align: right;">0.1691&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>$125 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 144.75pt; text-align: right;">0.1599&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom;">
              <div>$200 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom;">
              <div style="text-indent: 144.75pt; text-align: right;">0.1505&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>$250 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 144.75pt; text-align: right;">0.1469&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.48%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>$300 billion&#160;</div>
            </td>
            <td style="width: 52.52%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;">0.1445&#160;&#160;&#160;&#160; <br>
              </div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zf3757b0416c34fccb6b4f2d9d9138b30">

          <tr>
            <td nowrap="nowrap" style="width: 4.14%; vertical-align: top;">
              <div>*&#160; &#160; &#160;</div>
            </td>
            <td style="width: 95.86%; vertical-align: middle;">
              <div>For the complex-level fees, managed assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, leverage includes the funds&#8217; use of preferred stock and borrowings
                and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the
                trust&#8217;s issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining managed assets in certain circumstances. The complex-level fee is calculated based
                upon the aggregate daily managed assets of all Nuveen open-end and closed-end funds that constitute &#8220;eligible assets.&#8221; Eligible assets do not include assets attributable to investments in other Nuveen funds or assets in excess of a
                determined amount (originally $2 billion) added to the Nuveen fund complex in connection with the Adviser&#8217;s assumption of the management of the former First American Funds effective January 1, 2011, but do not include certain assets of
                certain Nuveen Funds that were reorganized into funds advised by an affiliate of the Adviser during the 2019 calendar year. As of February 28, 2021, the complex-level fee for each Fund was 0.1558%.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Other Transactions with Affiliates</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund is permitted to purchase or sell securities from or to certain other funds or accounts managed by the Sub-Adviser (&#8220;Affiliated Entity&#8221;) under specified conditions outlined in procedures
        adopted by the Board (&#8220;cross-trade&#8221;). These procedures have been designed to ensure that any cross-trade of securities by the Fund from or to an Affiliated Entity by virtue of having a common investment adviser (or affiliated investment adviser),
        common officer and/or common trustee complies with Rule 17a-7 under the 1940 Act. These transactions are effected at the current market price (as provided by an independent pricing service) without incurring broker commissions.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4e9ea01a7beb4d949fea730bf7fe2cd8">

          <tr>
            <td style="width: 77.73%; vertical-align: bottom;">
              <div>During the current fiscal period, the Funds engaged in cross-trades pursuant to these procedures as follows:&#160;</div>
            </td>
            <td style="width: 12.42%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.85%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zcee021501a754c8b97af5215ef0aba0d" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div>Purchases&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>8,035,363</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>46,791,967</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>Sales&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>5,346,565</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0);">
              <div>46,472,233</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zb14568c881ec486b83b8a621ef6d39b5">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div><font style="font-weight: bold;">8. Borrowing Arrangements</font>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Committed Line of Credit</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Funds, along with certain other funds managed by the Adviser (&#8220;Participating Funds&#8221;), have established a 364-day, $2.405 billion standby credit facility with a group of lenders, under which the
        Participating Funds may borrow for various purposes other than leveraging for investment purposes. Each Participating Fund is allocated a designated proportion of the facility&#8217;s capacity (and its associated costs, as described below) based upon a
        multi-factor assessment of the likelihood and frequency of its need to draw on the facility, the size of the Fund and its anticipated draws, and the potential importance of such draws to the operations and well-being of the Fund, relative to those
        of the other Funds.&#160;A Fund may effect draws on the facility in excess of its designated capacity if and to the extent that other Participating Funds have undrawn capacity. The credit facility expires in June 2021 unless extended or renewed.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The credit facility has the following terms: a 0.10% upfront fee, 0.15% per annum on unused commitment amounts and a drawn interest rate equal to the higher of (a) one-month LIBOR (London Inter-Bank
        Offered Rate) plus 1.25% per annum or (b) the Fed Funds rate plus 1.25% per annum on amounts borrowed. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of &#8220;Other expenses&#8221; on the Statement of
        Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the relative proportions of the facility&#8217;s aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board
        of each Participating Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">75</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Notes to Financial Statements (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the current fiscal period, the following Funds utilized this facility. Each Fund&#8217;s maximum outstanding balance during the utilization period was as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="ze4a9894b215648a9b6b01b5918edb489">

          <tr>
            <td style="width: 45.17%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 36.07%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NCA</font>&#160;</div>
            </td>
            <td style="width: 9.81%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 45.17%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Maximum outstanding balance&#160;</div>
            </td>
            <td style="width: 36.07%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$550,615&#160;</div>
            </td>
            <td style="width: 9.81%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$8,500,110&#160;</div>
            </td>
            <td style="width: 8.96%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">$4,959,505&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During each Fund&#8217;s utilization period(s) during the current fiscal period, the average daily balance outstanding and average annual interest rate on the Borrowings were as follows:</div>
      <table cellspacing="0" cellpadding="0" id="zb65bf2dee0c2443c8801275f53f601b3" style="font-family: Arial; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;"> NCA</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font> </div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; background-color: rgb(204, 238, 255);">
              <div>Utilization period (days outstanding)&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);">
              <div>4</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%;">
              <div>Average daily balance outstanding&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>550,615</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>8,500,110</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">
              <div>$</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div>4,959,505</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 64%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Average annual interest rate&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1.39</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>%</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1.39</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>%</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>1.39</div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>%</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Borrowings outstanding as of the end of the reporting period are recognized as &#8220;Borrowings&#8221; on the Statement of Assets and Liabilities, where applicable.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Inter-Fund Borrowing and Lending</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The SEC has granted an exemptive order permitting registered open-end and closed-end Nuveen funds to participate in an inter-fund lending facility whereby the Nuveen funds may directly lend to and
        borrow money from each other for temporary purposes (e.g., to satisfy redemption requests or when a sale of securities &#8220;fails,&#8221; resulting in an unanticipated cash shortfall) (the &#8220;Inter-Fund Program&#8221;). The closed-end Nuveen funds, including the
        Funds covered by this shareholder report, will participate only as lenders, and not as borrowers, in the Inter-Fund Program because such closed-end funds rarely, if ever, need to borrow cash to meet redemptions. The Inter-Fund Program is subject to
        a number of conditions, including, among other things, the requirements that (1) no fund may borrow or lend money through the Inter-Fund Program unless it receives a more favorable interest rate than is typically available from a bank or other
        financial institution for a comparable transaction; (2) no fund may borrow on an unsecured basis through the Inter-Fund Program unless the fund&#8217;s outstanding borrowings from all sources immediately after the inter-fund borrowing total 10% or less
        of its total assets; provided that if the borrowing fund has a secured borrowing outstanding from any other lender, including but not limited to another fund, the inter-fund loan must be secured on at least an equal priority basis with at least an
        equivalent percentage of collateral to loan value; (3) if a fund&#8217;s total outstanding borrowings immediately after an inter-fund borrowing would be greater than 10% of its total assets, the fund may borrow through the interfund loan on a secured
        basis only; (4) no fund may lend money if the loan would cause its aggregate outstanding loans through the Inter-Fund Program to exceed 15% of its net assets at the time of the loan; (5) a fund&#8217;s inter-fund loans to any one fund shall not exceed 5%
        of the lending fund&#8217;s net assets; (6) the duration of inter-fund loans will be limited to the time required to receive payment for securities sold, but in no event more than seven days; and (7) each inter-fund loan may be called on one business
        day&#8217;s notice by a lending fund and may be repaid on any day by a borrowing fund. In addition, a Nuveen fund may participate in the Inter-Fund Program only if and to the extent that such participation is consistent with the fund&#8217;s investment
        objective and investment policies. The Board is responsible for overseeing the Inter-Fund Program.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The limitations detailed above and the other conditions of the SEC exemptive order permitting the Inter-Fund Program are designed to minimize the risks associated with Inter-Fund Program for both
        the lending fund and the borrowing fund. However, no borrowing or lending activity is without risk. When a fund borrows money from another fund, there is a risk that the loan could be called on one day&#8217;s notice or not renewed, in which case the
        fund may have to borrow from a bank at a higher rate or take other actions to payoff such loan if an inter-fund loan is not available from another fund. Any delay in repayment to a lending fund could result in a lost investment opportunity or
        additional borrowing costs.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the current reporting period, none of the Funds covered by this shareholder report have entered into any inter-fund loan activity.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">9. Subsequent Events</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Fund Merger</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As noted in Note 1 &#8211; General Information, before the opening of business on March 8, 2021 NCB merged into NCA. The net assets of NCB were $53,540,962 prior to the closing of the Merger.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Upon the closing of the Merger, NCB transferred its assets to NCA in exchange for common shares of NCA and the assumption by NCA of the liabilities of NCB. NCB was then liquidated, dissolved and
        terminated in accordance with its Declaration of Trust. Shareholders of NCB became shareholders of NCA. Holders of common shares of NCB received newly issued common shares of NCA, the aggregate NAV of which is equal to the aggregate NAV of the
        common shares of NCB held immediately prior to the Merger (including for this purpose fractional Acquiring Fund shares to which shareholders would be entitled).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In conjunction with the Merger, shareholders of NCA approved a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust during February 2021. Upon completion
        of the change of domicile, NCA removed &#8220;Inc.&#8221; from its name and became Nuveen California Municipal Value Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">76</div>
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          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Shareholder Update (Unaudited)<a name="ShareholderUpdateUnaudite"><!--Anchor--></a></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">CURRENT INVESTMENT OBJECTIVES, INVESTMENT POLICIES AND PRINCIPAL RISKS OF THE FUNDS</div>
      <div style="margin: 12pt 0px 0px; text-align: center;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold;">NUVEEN CALIFORNIA MUNICIPAL VALUE FUND (NCA)</font></div>
      <div style="margin: 0px 0px 12pt; text-align: center;"><font style="font-weight: bold;"> (formerly known as NUVEEN CALIFORNIA MUNICIPAL VALUE FUND, INC).</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Investment Objectives</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund&#8217;s primary investment objective is to provide current income exempt from regular federal and California income taxes. The Fund&#8217;s secondary investment objective is to enhance portfolio value
        relative to the California municipal bond market by investing in tax-exempt California municipal securities that the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser believes are underrated or undervalued or that represent municipal market
        sectors that are undervalued.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Investment Policies</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As a fundamental policy, under normal circumstances, the Fund will invest at least 80% of its Assets (as defined below) in municipal securities and other related investments, the income from which
        is exempt from regular federal and California income taxes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund will primarily invest in municipal securities with long-term maturities in order to maintain an effective maturity of at least 15 years, but it may be shortened or lengthened, depending on
        market conditions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">&#8220;Assets&#8221; mean the net assets of the Fund plus the amount of any borrowings for investment purposes. &#8220;Managed Assets&#8221; mean the total assets of the Fund, minus the sum of its accrued liabilities
        (other than Fund liabilities incurred for the express purpose of creating leverage). Total assets for this purpose shall include assets attributable to the Fund&#8217;s use of leverage (whether or not those assets are reflected in the Fund&#8217;s financial
        statements for purposes of generally accepted accounting principles), and derivatives will be valued at their market value.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Under normal circumstances:</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z620a15ff33c2460f8701efdf7bb30c3b">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund will invest at least 80% of its Managed Assets in municipal securities that, at the time of investment, are rated within the four&#160;highest grades (Baa or BBB or better) by at least one NRSRO or are unrated but judged to be of
                  comparable quality by the Fund&#8217;s&#160;investment adviser and/or the Fund&#8217;s sub-adviser. Investment grade securities may include securities that, at the time of investment, are&#160;rated below investment grade, so long as at least one NRSRO rates
                  such securities within the four highest grades (such securities are&#160;commonly referred to as split-rated securities).</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4eca2d7033434e0d9ca67b1e3504f1b0">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 20% of its Managed Assets in municipal securities that at the time of investment are rated below investment&#160;grade or are unrated but judged to be of comparable quality by the Fund&#8217;s investment adviser and/or
                  the Fund&#8217;s sub-adviser.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z000a9c0b30a04fb09419a2fbb9d59316">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>No more than 10% of the Fund&#8217;s Managed Assets may be invested in municipal securities rated below B3/B- by all NRSROs that rate the&#160;security or that are unrated but judged to be of comparable quality by the Fund&#8217;s investment adviser
                  and/or the Fund&#8217;s sub-adviser.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z03504a7fc625466782946618e96e4aee">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 20% of its Managed Assets in municipal securities that pay interest that is taxable under the federal alternative&#160;minimum tax applicable to individuals.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z80f037075d4b4fb6bdb400ad66cc94ba">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 15% of its Managed Assets in inverse floating rate securities.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb6878c307a224a38a371d1997f229c00">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund will not invest more than 25% of its total assets in municipal securities in any one industry.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zde79b5c46549407d8e357a1c38ad473b">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 10% of its Managed Assets in securities of other open- or closed-end investment companies (including ETFs)&#160;that invest primarily in municipal securities of the types in which the Fund may invest directly.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd1881160380645a187a6931ed9e2dd96">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest in distressed securities but may not invest in the securities of an issuer which, at the time of investment, is in default&#160;on its obligations to pay principal or interest thereon when due or that is involved in a
                  bankruptcy proceeding (<font style="font-style: italic;">i.e., </font>rated below C-, at the&#160;time of investment); provided, however, that the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser may determine that it is in the&#160;best
                  interest of shareholders in pursuing a workout arrangement with issuers of defaulted securities to make loans to the defaulted issuer&#160;or another party, or purchase a debt, equity or other interest from the defaulted issuer or another
                  party, or take other related or similar&#160;steps involving the investment of additional monies, but only if that issuer&#8217;s securities are already held by the Fund.</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The foregoing policies apply only at the time of any new investment.<br>
        <br>
        <font style="font-style: italic;">Approving Changes in Investment Policies</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Board of Trustees of the Fund may change the policies described above without a shareholder vote. However, the Fund&#8217;s (i) investment objectives, (ii) policy of investing at least 80% of its
        Assets in municipal securities and other related investments, the income from which is exempt from regular federal and California income taxes and (iii) policy (as described below) that it will not leverage its capital structure by issuing senior
        securities such as Preferred Shares or debt instruments, may not be changed without the approval of the holders of a majority of the outstanding common shares and preferred shares voting together as a single class, and the approval of the holders
        of a majority of the outstanding preferred shares, voting separately</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">77</div>
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            </a> </div>
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        </div>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">as a single class. A &#8220;majority of the outstanding&#8221; shares means (i) 67% or more of the shares present at a meeting, if the holders of more than 50% of the shares are present or represented by proxy
        or (ii) more than 50% of the shares, whichever is less.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Additionally, with respect to the Fund&#8217;s policy of investing at least 80% of its Managed Assets in municipal securities that, at the time of investment, are rated within the four highest grades (Baa
        or BBB or better) by at least one NRSRO or are unrated but judged to be of comparable quality by the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser, such policy may not be changed without 60 days&#8217; prior notice to shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Portfolio Contents</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund generally invests in municipal securities. Municipal securities include municipal bonds, notes, securities issued to finance and refinance public projects, certificates of participation,
        variable rate demand obligations, lease obligations, municipal notes, pre-refunded municipal bonds, private activity bonds, securities issued by TOB trusts, including inverse floating rate securities, and other forms of municipal bonds and
        securities, and other related instruments that create exposure to municipal bonds, notes and securities that provide for the payment of interest income that is exempt from regular U.S. federal income tax and California income taxes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Municipal securities are debt obligations generally issued by states, cities and local authorities and certain possessions and territories of the United States (such as Puerto Rico and Guam) to
        finance or refinance public purpose projects such as roads, schools, and water supply systems.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may also invest in AMT Bonds. AMT Bonds may trigger adverse tax consequences for Fund shareholders who are subject to the federal alternative minimum tax.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The municipal securities in which the Fund invests are generally issued by the State of California, a municipality in California, or a political subdivision or agency or instrumentality of such
        state or municipality, and pay interest that, in the opinion of bond counsel to the issuer (or on the basis of other authority believed by the investment adviser to be reliable), is exempt from both regular federal income taxes and California
        personal income tax, although the interest may be subject to the federal alternative minimum tax.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal securities that represent lease obligations and certificates of participation in such leases. A municipal lease is an obligation in the form of a lease or
        installment purchase that is issued by a state or local government to acquire equipment and facilities. Income from such obligations generally is exempt from state and local taxes in the state of issuance. A certificate of participation represents
        an undivided interest in an unmanaged pool of municipal leases, an installment purchase agreement or other instruments. The certificates typically are issued by a municipal agency, a trust or other entity that has received an assignment of the
        payments to be made by the state or political subdivision under such leases or installment purchase agreements. Such certificates provide the Fund with the right to a <font style="font-style: italic;">pro rata </font>undivided interest in the
        underlying municipal securities. In addition, such participations generally provide the Fund with the right to demand payment, on not more than seven days&#8217; notice, of all or any part of the Fund&#8217;s participation interest in the underlying municipal
        securities, plus accrued interest.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal notes. Municipal securities in the form of notes generally are used to provide for short-term capital needs, in anticipation of an issuer&#8217;s receipt of other revenues
        or financing, and typically have maturities of up to three years. Such instruments may include tax anticipation notes, revenue anticipation notes, bond anticipation notes, tax and revenue anticipation notes and construction loan notes. Tax
        anticipation notes are issued to finance the working capital needs of governments. Generally, they are issued in anticipation of various tax revenues, such as income, sales, property, use and business taxes, and are payable from these specific
        future taxes. Revenue anticipation notes are issued in expectation of receipt of other kinds of revenue, such as federal revenues available under federal revenue sharing programs. Bond anticipation notes are issued to provide interim financing
        until long-term bond financing can be arranged. In most cases, the long-term bonds then provide the funds needed for repayment of the bond anticipation notes. Tax and revenue anticipation notes combine the funding sources of both tax anticipation
        notes and revenue anticipation notes. Construction loan notes are sold to provide construction financing. Mortgage notes insured by the Federal Housing Authority secure these notes; however, the proceeds from the insurance may be less than the
        economic equivalent of the payment of principal and interest on the mortgage note if there has been a default. The anticipated revenues from taxes, grants or bond financing generally secure the obligations of an issuer of municipal notes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in &#8220;tobacco settlement bonds.&#8221; Tobacco settlement bonds are municipal securities that are secured or payable solely from the collateralization of the proceeds from class action
        or other litigation against the tobacco industry.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in pre-refunded municipal securities. The principal of and interest on pre-refunded municipal securities are no longer paid from the original revenue source for the securities.
        Instead, the source of such payments is typically an escrow fund consisting of U.S. government securities. The assets in the escrow fund are derived from the proceeds of refunding bonds issued by the same issuer as the pre-refunded municipal
        securities. Issuers of municipal securities use this advance refunding technique to obtain more favorable terms with respect to securities that are not yet subject to call or redemption by the issuer. For example, advance refunding enables an
        issuer to refinance debt at lower market interest rates, restructure debt to improve cash flow or eliminate restrictive covenants in the indenture or other governing instrument for the pre-refunded municipal securities. However, except for a change
        in the revenue source from which principal and interest payments are made, the pre-refunded municipal securities remain outstanding on their original terms until they mature or are redeemed by the issuer.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">78</div>
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            </a> </div>
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        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in private activity bonds. Private activity bonds are issued by or on behalf of public authorities to obtain funds to provide privately operated housing facilities, airport, mass
        transit or port facilities, sewage disposal, solid waste disposal or hazardous waste treatment or disposal facilities and certain local facilities for water supply, gas or electricity. Other types of private activity bonds, the proceeds of which
        are used for the construction, equipment, repair or improvement of privately operated industrial or commercial facilities, may constitute municipal securities, although the current federal tax laws place substantial limitations on the size of such
        issues.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in inverse floating rate securities issued by a TOB trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association short-term rate,
        which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. Typically, inverse floating rate securities represent beneficial interests in a special purpose trust (sometimes called a TOB trust) formed
        by a third party sponsor for the purpose of holding municipal bonds. Inverse floating rate securities may increase or decrease in value at a greater rate than the underlying interest rate on the municipal bond held by the TOB trust, which
        effectively leverages the Fund&#8217;s investment.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in floating rate securities issued by special purpose trusts. Floating rate securities may take the form of short-term floating rate securities or the option period may be
        substantially longer. Generally, the interest rate earned will be based upon the market rates for municipal securities with maturities or remarketing provisions that are comparable in duration to the periodic interval of the tender option, which
        may vary from weekly, to monthly, to extended periods of one year or multiple years. Since the option feature has a shorter term than the final maturity or first call date of the underlying bond deposited in the trust, the Fund as the holder of the
        floating rate security relies upon the terms of the agreement with the financial institution furnishing the option as well as the credit strength of that institution. As further assurance of liquidity, the terms of the trust provide for a
        liquidation of the municipal security deposited in the trust and the application of the proceeds to pay off the floating rate security. The trusts that are organized to issue both short-term floating rate securities and inverse floaters generally
        include liquidation triggers to protect the investor in the floating rate security.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal securities issued by special taxing districts. Special taxing districts are organized to plan and finance infrastructure developments to induce residential,
        commercial and industrial growth and redevelopment. The bond financing methods such as tax increment finance, tax assessment, special services district and Mello-Roos bonds, are generally payable solely from taxes or other revenues attributable to
        the specific projects financed by the bonds without recourse to the credit or taxing power of related or overlapping municipalities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in zero coupon bonds. A zero coupon bond is a bond that typically does not pay interest for the entire life of the obligation or for an initial period after the issuance of the
        obligation.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may buy and sell securities on a when-issued or delayed delivery basis, making payment or taking delivery at a later date, normally within 15 to 45 days of the trade date.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may utilize structured notes and similar instruments for investment purposes and also for hedging purposes. Structured notes are privately negotiated debt obligations where the principal
        and/or interest is determined by reference to the performance of a benchmark asset, market or interest rate (an &#8220;embedded index&#8221;), such as selected securities, an index of securities or specified interest rates, or the differential performance of
        two assets or markets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in illiquid securities (<font style="font-style: italic;">i.e., </font>securities that are not readily marketable), including, but not limited to, restricted securities
        (securities the disposition of which is restricted under the federal securities laws), securities that may be resold only pursuant to Rule 144A under the 1933 Act, and repurchase agreements with maturities in excess of seven days.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may enter into certain derivative instruments in pursuit of its investment objectives, including to seek to enhance return, to hedge certain risks of its investments in municipal securities
        or as a substitute for a position in the underlying asset. Such instruments include financial futures contracts, swap contracts (including interest rate swaps, credit default swaps and MMD Rate Locks), options on financial futures, options on swap
        contracts or other derivative instruments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may purchase and sell MMD Rate Locks. An MMD Rate Lock permits the Fund to lock in a specified municipal interest rate for a portion of its portfolio to preserve a return on a particular
        investment or a portion of its portfolio as a duration management technique or to protect against any increase in the price of securities to be purchased at a later date. By using an MMD Rate Lock, the Fund can create a synthetic long or short
        position, allowing the Fund to select what the manager believes is an attractive part of the yield curve. The Fund will ordinarily use these transactions as a hedge or for duration or risk management although it is permitted to enter into them to
        enhance income or gain or to increase the Fund&#8217;s yield, for example, during periods of steep interest rate yield curves (<font style="font-style: italic;">i.e., </font>wide differences between short term and long term interest rates).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may also invest in securities of other open- or closed-end investment companies (including ETFs) that invest primarily in municipal securities of the types in which the Fund may invest
        directly, to the extent permitted by the 1940 Act, the rules and regulations issued thereunder and applicable exemptive orders issued by the SEC.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;"> 79<br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"> <br>
      </div>
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    <div><br>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Use of Leverage</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As a fundamental policy, the Fund will not leverage its capital structure by issuing senior securities (as defined under the 1940 Act), such as preferred shares or debt instruments. However, the
        Fund may borrow (including reverse repurchase agreements) for temporary or emergency purposes and invest in certain instruments, including inverse floating rate securities that have the economic effect of leverage.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Temporary Defensive Periods</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During temporary defensive periods (<font style="font-style: italic;">e.g., </font>times when, in the Fund&#8217;s investment adviser&#8217;s and/or the Fund&#8217;s sub-adviser&#8217;s opinion, temporary imbalances of
        supply and demand or other temporary dislocations in the tax-exempt bond market adversely affect the price at which long-term or intermediate-term municipal securities are available), the Fund may invest up to 100% of its net assets in cash or cash
        equivalents, short-term investments or municipal bonds and deviate from its investment policies including the Fund&#8217;s 80% names rule policy. Also, during these periods, the weighted average maturity of the Fund&#8217;s investment portfolio may fall below
        the effective maturity range of at least 15 years and the Fund may not achieve its investment objectives.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">80</div>
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      <div>&#160;</div>
      <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">NUVEEN CALIFORNIA AMT-FREE QUALITY MUNICIPAL INCOME FUND (NKX)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Investment Objectives</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund&#8217;s investment objectives are (i) to provide current income exempt from regular federal income tax, the federal alternative minimum tax applicable to individuals and California income tax and
        (ii) to enhance portfolio value relative to the municipal bond market by investing in tax-exempt municipal securities that the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser, believes are underrated or undervalued or that represent
        municipal market sectors that are undervalued.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Investment Policies</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As a fundamental policy, under normal circumstances, the Fund will invest at least 80% of its Assets (as defined below) in municipal securities and other related investments the income from which is
        exempt from federal and California income taxes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As a non-fundamental policy, under normal circumstances, the Fund will invest 100% of its Managed Assets (as defined below) in municipal securities and other related investments the income from
        which is exempt from the federal alternative minimum tax applicable to individuals at the time of purchase.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund generally invests in California municipal securities with intermediate or long-term maturities in order to maintain an average effective maturity of 15 to 30 years, but the average
        effective maturity of obligations held by the Fund may be shortened or lengthened, depending on market conditions and on an assessment by the Fund&#8217;s portfolio manager of which segments of the California municipal securities market offer the most
        favorable relative investment values and opportunities for tax-exempt income and total return.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">&#8220;Assets&#8221; mean the net assets of the Fund plus the amount of any borrowings for investment purposes. &#8220;Managed Assets&#8221; mean the total assets of the Fund, minus the sum of its accrued liabilities
        (other than Fund liabilities incurred for the express purpose of creating leverage). Total assets for this purpose shall include assets attributable to the Fund&#8217;s use of leverage (whether or not those assets are reflected in the Fund&#8217;s financial
        statements for purposes of generally accepted accounting principles), and derivatives will be valued at their market value.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Under normal circumstances:</div>
      <div>
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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund will invest at least 80% of its Assets in municipal securities and other related investments the income from which is exempt from&#160;the federal alternative minimum tax applicable to individuals at the time of purchase.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z43a011ddf9e842d786504d08dc380a0e">

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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund will invest at least 80% of its Managed Assets in investment grade municipal securities that, at the time of investment, are rated&#160;within the four highest grades (Baa or BBB or better) by at least one NRSRO or are unrated but
                  judged to be of comparable quality by the&#160;Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser.</div>
                <div> <br>
                </div>
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        </table>
      </div>
      <div>
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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 20% of its Managed Assets in municipal securities that at the time of investment are rated below investment&#160;grade (Ba or BB or lower) or are unrated but judged to be of comparable quality by the Fund&#8217;s
                  investment adviser and/or the Fund&#8217;s sub-&#160;adviser.</div>
                <div> <br>
                </div>
              </td>
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        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd45fd95de3784d129e93f75c9889f1c2">

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              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 10% of its Managed Assets in municipal securities rated below B3/B- or that are unrated but judged to be of&#160;comparable quality by the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser.</div>
                <div> <br>
                </div>
              </td>
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        </table>
      </div>
      <div>
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              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest in distressed securities but may not invest in the securities of an issuer which, at the time of investment, is in default&#160;on its obligations to pay principal or interest thereon when due or that is involved in a
                  bankruptcy proceeding (<font style="font-style: italic;">i.e., </font>rated below C-, at the&#160;time of investment); provided, however, that the Fund&#8217;s sub-adviser may determine that it is in the best interest of shareholders in&#160;pursuing a
                  workout arrangement with issuers of defaulted securities to make loans to the defaulted issuer or another party, or purchase a&#160;debt, equity or other interest from the defaulted issuer or another party, or take other related or similar
                  steps involving the investment of&#160;additional monies, but only if that issuer&#8217;s securities are already held by the Fund.</div>
                <div> <br>
                </div>
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        </table>
      </div>
      <div>
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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 10% of its total assets in securities of other open- or closed-end investment companies (including ETFs) that&#160;invest primarily in municipal securities of the types in which the Fund may invest directly.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2b6988a46c2445d094e344ee97f2ae21">

            <tr>
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                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 15% of its Managed Assets in inverse floating rate securities.</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The foregoing policies apply only at the time of any new investment.<br>
        <br>
        <font style="font-style: italic;">Approving Changes in Investment Policies</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Board of Trustees of the Fund may change the policies described above without a shareholder vote. However, the Fund&#8217;s policy of investing at least 80% of its Assets in municipal securities and
        other related investments the income from which is exempt from federal and California income taxes, may not be changed without the approval of the holders of a majority of the outstanding common shares and preferred shares voting together as a
        single class, and the approval of the holders of a majority of the outstanding preferred shares, voting separately as a single class. A &#8220;majority of the outstanding&#8221; shares means (i) 67% or more of the shares present at a meeting, if the holders of
        more than 50% of the shares are present or represented by proxy or (ii) more than 50% of the shares, whichever is less.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Additionally, with respect to the Fund&#8217;s policy of investing at least 80% of its Assets in municipal securities and other related investments the income from which is exempt from the federal
        alternative minimum tax applicable to individuals at the time of purchase, such policy may not be changed without 60 days&#8217; prior notice to shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">81</div>
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      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Portfolio Contents</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund generally invests in municipal securities. Municipal securities include municipal bonds, notes, securities issued to finance and refinance public projects, certificates of participation,
        variable rate demand obligations, lease obligations, municipal notes, pre-refunded municipal bonds, private activity bonds, securities issued by TOB trusts, including inverse floating rate securities, and other forms of municipal bonds and
        securities, and other related instruments that create exposure to municipal bonds, notes and securities that provide for the payment of interest income that is exempt from U.S. federal and California income tax.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Municipal securities are debt obligations generally issued by states, cities and local authorities and certain possessions and territories of the United States (such as Puerto Rico and Guam) to
        finance or refinance public purpose projects such as roads, schools, and water supply systems.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The municipal securities in which the Fund generally invests are issued by the State of California, a municipality in California, or a political subdivision or agency or instrumentality of such
        state or municipality, and pay interest that, in the opinion of bond counsel to the issuer (or on the basis of other authority believed by the Fund&#8217;s sub-adviser to be reliable), is exempt from regular federal and California personal income taxes
        and is also exempt from the federal alternative minimum tax applicable to individuals.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal securities that represent lease obligations and certificates of participation in such leases. A municipal lease is an obligation in the form of a lease or
        installment purchase that is issued by a state or local government to acquire equipment and facilities. Income from such obligations generally is exempt from state and local taxes in the state of issuance. A certificate of participation represents
        an undivided interest in an unmanaged pool of municipal leases, an installment purchase agreement or other instruments. The certificates typically are issued by a municipal agency, a trust or other entity that has received an assignment of the
        payments to be made by the state or political subdivision under such leases or installment purchase agreements. Such certificates provide the Fund with the right to a <font style="font-style: italic;">pro rata </font>undivided interest in the
        underlying municipal securities. In addition, such participations generally provide the Fund with the right to demand payment, on not more than seven days&#8217; notice, of all or any part of the Fund&#8217;s participation interest in the underlying municipal
        securities, plus accrued interest.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal notes. Municipal securities in the form of notes generally are used to provide for short-term capital needs, in anticipation of an issuer&#8217;s receipt of other revenues
        or financing, and typically have maturities of up to three years. Such instruments may include tax anticipation notes, revenue anticipation notes, bond anticipation notes, tax and revenue anticipation notes and construction loan notes. Tax
        anticipation notes are issued to finance the working capital needs of governments. Generally, they are issued in anticipation of various tax revenues, such as income, sales, property, use and business taxes, and are payable from these specific
        future taxes. Revenue anticipation notes are issued in expectation of receipt of other kinds of revenue, such as federal revenues available under federal revenue sharing programs. Bond anticipation notes are issued to provide interim financing
        until long-term bond financing can be arranged. In most cases, the long-term bonds then provide the funds needed for repayment of the bond anticipation notes. Tax and revenue anticipation notes combine the funding sources of both tax anticipation
        notes and revenue anticipation notes. Construction loan notes are sold to provide construction financing. Mortgage notes insured by the Federal Housing Authority secure these notes; however, the proceeds from the insurance may be less than the
        economic equivalent of the payment of principal and interest on the mortgage note if there has been a default. The anticipated revenues from taxes, grants or bond financing generally secure the obligations of an issuer of municipal notes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in &#8220;tobacco settlement bonds.&#8221; Tobacco settlement bonds are municipal securities that are secured or payable solely from the collateralization of the proceeds from class action
        or other litigation against the tobacco industry.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in pre-refunded municipal securities. The principal of and interest on pre-refunded municipal securities are no longer paid from the original revenue source for the securities.
        Instead, the source of such payments is typically an escrow fund consisting of U.S. government securities. The assets in the escrow fund are derived from the proceeds of refunding bonds issued by the same issuer as the pre-refunded municipal
        securities. Issuers of municipal securities use this advance refunding technique to obtain more favorable terms with respect to securities that are not yet subject to call or redemption by the issuer. For example, advance refunding enables an
        issuer to refinance debt at lower market interest rates, restructure debt to improve cash flow or eliminate restrictive covenants in the indenture or other governing instrument for the pre-refunded municipal securities. However, except for a change
        in the revenue source from which principal and interest payments are made, the pre-refunded municipal securities remain outstanding on their original terms until they mature or are redeemed by the issuer.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in private activity bonds. Private activity bonds, formerly referred to as industrial development bonds, are issued by or on behalf of public authorities to obtain funds to
        provide privately operated housing facilities, airport, mass transit or port facilities, sewage disposal, solid waste disposal or hazardous waste treatment or disposal facilities and certain local facilities for water supply, gas or electricity.
        Other types of private activity bonds, the proceeds of which are used for the construction, equipment, repair or improvement of privately operated industrial or commercial facilities, may constitute municipal securities, although the current
        federal tax laws place substantial limitations on the size of such issues. The Fund&#8217;s distributions of its interest income from private activity bonds may subject certain investors to the federal alternative minimum tax applicable to individuals.
        However, the Fund will only invest in private activity bonds that are not subject to the federal alternative minimum tax.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in inverse floating rate securities issued by a TOB trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association short-term rate,
        which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. Typically, inverse floating rate securities represent beneficial interests in a special purpose trust (sometimes called a TOB trust) formed
        by a third party sponsor for the purpose of holding municipal bonds. Inverse floating rate securities may increase or decrease in value at a greater rate than the underlying interest rate on the municipal bond held by the TOB trust, which
        effectively leverages the Fund&#8217;s investment.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">82</div>
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      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in floating rate securities issued by special purpose trusts. Floating rate securities may take the form of short-term floating rate securities or the option period may be
        substantially longer. Generally, the interest rate earned will be based upon the market rates for municipal securities with maturities or remarketing provisions that are comparable in duration to the periodic interval of the tender option, which
        may vary from weekly, to monthly, to extended periods of one year or multiple years. Since the option feature has a shorter term than the final maturity or first call date of the underlying bond deposited in the trust, the Fund as the holder of the
        floating rate security relies upon the terms of the agreement with the financial institution furnishing the option as well as the credit strength of that institution. As further assurance of liquidity, the terms of the trust provide for a
        liquidation of the municipal security deposited in the trust and the application of the proceeds to pay off the floating rate security. The trusts that are organized to issue both short-term floating rate securities and inverse floaters generally
        include liquidation triggers to protect the investor in the floating rate security.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal securities issued by special taxing districts. Special taxing districts are organized to plan and finance infrastructure developments to induce residential,
        commercial and industrial growth and redevelopment. The bond financing methods such as tax increment finance, tax assessment, special services district and Mello-Roos bonds, are generally payable solely from taxes or other revenues attributable to
        the specific projects financed by the bonds without recourse to the credit or taxing power of related or overlapping municipalities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in zero coupon bonds. A zero coupon bond is a bond that typically does not pay interest for the entire life of the obligation or for an initial period after the issuance of the
        obligation.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may utilize structured notes and similar instruments for investment purposes and also for hedging purposes. Structured notes are privately negotiated debt obligations where the principal
        and/or interest is determined by reference to the performance of a benchmark asset, market or interest rate (an &#8220;embedded index&#8221;), such as selected securities, an index of securities or specified interest rates, or the differential performance of
        two assets or markets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in illiquid securities (<font style="font-style: italic;">i.e., </font>securities that are not readily marketable), including, but not limited to, restricted securities
        (securities the disposition of which is restricted under the federal securities laws), securities that may be resold only pursuant to Rule 144A under the 1933 Act, and repurchase agreements with maturities in excess of seven days.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may enter into certain derivative instruments in pursuit of its investment objectives, including to seek to enhance return, to hedge certain risks of its investments in municipal securities
        or as a substitute for a position in the underlying asset. Such instruments include financial futures contracts, swap contracts (including interest rate swaps, credit default swaps and MMD Rate Locks), options on financial futures, options on swap
        contracts or other derivative instruments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may purchase and sell MMD Rate Locks. An MMD Rate Lock permits the Fund to lock in a specified municipal interest rate for a portion of its portfolio to preserve a return on a particular
        investment or a portion of its portfolio as a duration management technique or to protect against any increase in the price of securities to be purchased at a later date. By using an MMD Rate Lock, the Fund can create a synthetic long or short
        position, allowing the Fund to select what the manager believes is an attractive part of the yield curve. The Fund will ordinarily use these transactions as a hedge or for duration or risk management although it is permitted to enter into them to
        enhance income or gain or to increase the Fund&#8217;s yield, for example, during periods of steep interest rate yield curves (<font style="font-style: italic;">i.e., </font>wide differences between short term and long term interest rates).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may also invest in securities of other open- or closed-end investment companies (including ETFs) that invest primarily in municipal securities of the types in which the Fund may invest
        directly, to the extent permitted by the 1940 Act, the rules and regulations issued thereunder and applicable exemptive orders issued by the SEC. In addition, the Fund may invest a portion of its Managed Assets in pooled investment vehicles (other
        than investment companies) that invest primarily in municipal securities of the types in which the Fund may invest directly.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Use of Leverage</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund uses leverage to pursue its investment objectives. The Fund may use leverage to the extent permitted by the 1940 Act. The Fund may source leverage through a number of methods including the
        issuance of Preferred Shares and investments in inverse floating rate securities. The Fund may borrow (including reverse repurchase agreements) from banks for temporary or emergency purposes, or to repurchase its shares. In addition, the Fund may
        also use certain derivatives that have the economic effect of leverage by creating additional investment exposure. The amount and sources of leverage will vary depending on market conditions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Temporary Defensive Periods</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During temporary defensive periods (<font style="font-style: italic;">e.g., </font>times when, in the Fund&#8217;s investment adviser&#8217;s and/or the Fund&#8217;s sub-adviser&#8217;s opinion, temporary imbalances of
        supply and demand or other temporary dislocations in the tax-exempt bond market adversely affect the price at which long-term or intermediate-term municipal securities are available), the Fund may invest up to 100% of its net assets in cash or cash
        equivalents, short-term investments or municipal bonds and deviate from its investment policies including the Fund&#8217;s 80% names rule policy. Also, during these periods, the weighted average maturity of the Fund&#8217;s investment portfolio may fall below
        the effective maturity range of 15 to 30 years and the Fund may not achieve its investment objectives.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">83</div>
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        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">NUVEEN CALIFORNIA QUALITY MUNICIPAL VALUE FUND (NAC)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Investment Objectives</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund&#8217;s investment objectives are to provide current income exempt from regular federal and California income tax and to enhance portfolio value relative to the municipal bond market by investing
        in tax-exempt municipal bonds that the Fund&#8217;s investment adviser believes are underrated or undervalued or that represent municipal market sectors that are undervalued.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Investment Policies</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As a fundamental policy, under normal circumstances, the Fund will invest at least 80% of its Assets (as defined below) in municipal securities and other related investments, that pay interest
        exempt from federal and California income taxes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund will primarily invest in municipal securities with long-term maturities in order to maintain a weighted average maturity of at least 15 years, but the average weighted maturity of
        obligations held by the Fund may be shortened, depending on market conditions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">&#8220;Assets&#8221; mean the net assets of the Fund plus the amount of any borrowings for investment purposes. &#8220;Managed Assets&#8221; mean the total assets of the Fund, minus the sum of its accrued liabilities
        (other than Fund liabilities incurred for the express purpose of creating leverage). Total assets for this purpose shall include assets attributable to the Fund&#8217;s use of leverage (whether or not those assets are reflected in the Fund&#8217;s financial
        statements for purposes of generally accepted accounting principles), and derivatives will be valued at their market value.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Under normal circumstances:</div>
      <div>
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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
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                <div>The Fund will invest at least 80% of its Managed Assets in investment grade securities that, at the time of investment, are rated within the&#160;four highest grades (Baa or BBB or better) by at least one nationally recognized statistical
                  rating organization (an &#8220;NRSRO&#8221;) or are unrated&#160;but judged to be of comparable quality by the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser.</div>
                <div> <br>
                </div>
              </td>
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        </table>
      </div>
      <div>
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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 20% of its Managed Assets in municipal securities that at the time of investment are rated below investment&#160;grade or are unrated but judged to be of comparable quality by the Fund&#8217;s investment adviser and/or
                  the Fund&#8217;s sub-adviser.</div>
                <div> <br>
                </div>
              </td>
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        </table>
      </div>
      <div>
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              </td>
              <td style="width: auto; vertical-align: top;">
                <div>No more than 10% of the Fund&#8217;s Managed Assets may be invested in municipal securities rated below B3/B- or that are unrated but&#160;judged to be of comparable quality by the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 20% of its Managed Assets in municipal securities that pay interest that is taxable under the federal alternative&#160;minimum tax.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 15% of its Managed Assets in inverse floating rate securities</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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                <div style="margin-left: 18pt; font-family: Symbol, serif;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest 25% or more of its total assets in municipal securities in the same economic sector.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest up to 10% of its total assets in securities of other open- or closed-end investment companies (including exchange-&#160;traded funds (&#8220;ETFs&#8221;) that invest primarily in municipal securities of the types in which the Fund
                  may invest directly.</div>
                <div> <br>
                </div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Fund may invest in distressed securities but may not invest in the securities of an issuer which, at the time of investment, is in default&#160;on its obligations to pay principal or interest thereon when due or that is involved in a
                  bankruptcy proceeding (<font style="font-style: italic;">i.e., </font>rated below C-, at the&#160;time of investment); provided, however, that the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser may determine that it is in the&#160;best
                  interest of shareholders in pursuing a workout arrangement with issuers of defaulted securities to make loans to the defaulted issuer&#160;or another party, or purchase a debt, equity or other interest from the defaulted issuer or another
                  party, or take other related or similar&#160;steps involving the investment of additional monies, but only if that issuer&#8217;s securities are already held by the Fund.</div>
              </td>
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        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The foregoing policies apply only at the time of any new investment.<br>
        <br>
        <font style="font-style: italic;">Approving Changes in Investment Policies</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Board of Trustees of the Fund may change the policies described above without a shareholder vote. However, the Fund&#8217;s policy of investing at least 80% of its Assets in municipal securities and
        other related investments that pay interest exempt from federal and California income taxes, may not be changed without the approval of the holders of a majority of the outstanding common shares and preferred shares voting together as a single
        class, and the approval of the holders of a majority of the outstanding preferred shares, voting separately as a single class. A &#8220;majority of the outstanding&#8221; shares means (i) 67% or more of the shares present at a meeting, if the holders of more
        than 50% of the shares are present or represented by proxy or (ii) more than 50% of the shares, whichever is less.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Additionally, with respect to the Fund&#8217;s policy of investing at least 80% of its Managed Assets in investment grade securities that, at the time of investment, are rated within the four highest
        grades (Baa or BBB or better) by at least one NRSRO or are unrated but judged to be of comparable quality by the Fund&#8217;s investment adviser and/or the Fund&#8217;s sub-adviser, such policy may not be changed without 60 days&#8217; prior notice to shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Portfolio Contents</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund generally invests in municipal securities. Municipal securities include municipal bonds, notes, securities issued to finance and refinance public projects, certificates of participation,
        variable rate demand obligations, lease obligations, municipal notes, pre-refunded municipal bonds, private activity bonds, securities issued by tender option bond trusts (&#8220;TOB trusts&#8221;), including inverse floating rate securities, and other forms
        of municipal</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">84</div>
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      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">bonds and securities, and other related instruments that create exposure to municipal bonds, notes and securities that provide for the payment of interest income that is exempt from regular U.S.
        federal income tax and California person income taxes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Municipal securities are debt obligations generally issued by states, cities and local authorities and certain possessions and territories of the United States (such as Puerto Rico and Guam) to
        finance or refinance public purpose projects such as roads, schools, and water supply systems.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may also invest in municipal securities that pay interest that is taxable under the federal alternative minimum tax applicable to noncorporate taxpayers (&#8220;AMT Bonds&#8221;). AMT Bonds may trigger
        adverse tax consequences for Fund shareholders who are subject to the federal alternative minimum tax.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The municipal securities in which the Fund invests are generally issued by the State of California, a municipality in California, or a political subdivision or agency or instrumentality of such
        state or municipality, and pay interest that, in the opinion of bond counsel to the issuer (or on the basis of other authority believed by the investment adviser to be reliable), is exempt from both regular federal income taxes and California
        personal income tax, although the interest may be subject to the federal alternative minimum tax.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal securities that represent lease obligations and certificates of participation in such leases. A municipal lease is an obligation in the form of a lease or
        installment purchase that is issued by a state or local government to acquire equipment and facilities. Income from such obligations generally is exempt from state and local taxes in the state of issuance. A certificate of participation represents
        an undivided interest in an unmanaged pool of municipal leases, an installment purchase agreement or other instruments. The certificates typically are issued by a municipal agency, a trust or other entity that has received an assignment of the
        payments to be made by the state or political subdivision under such leases or installment purchase agreements. Such certificates provide the Fund with the right to a <font style="font-style: italic;">pro rata </font>undivided interest in the
        underlying municipal securities. In addition, such participations generally provide the Fund with the right to demand payment, on not more than seven days&#8217; notice, of all or any part of the Fund&#8217;s participation interest in the underlying municipal
        securities, plus accrued interest.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal notes. Municipal securities in the form of notes generally are used to provide for short-term capital needs, in anticipation of an issuer&#8217;s receipt of other revenues
        or financing, and typically have maturities of up to three years. Such instruments may include tax anticipation notes, revenue anticipation notes, bond anticipation notes, tax and revenue anticipation notes and construction loan notes. Tax
        anticipation notes are issued to finance the working capital needs of governments. Generally, they are issued in anticipation of various tax revenues, such as income, sales, property, use and business taxes, and are payable from these specific
        future taxes. Revenue anticipation notes are issued in expectation of receipt of other kinds of revenue, such as federal revenues available under federal revenue sharing programs. Bond anticipation notes are issued to provide interim financing
        until long-term bond financing can be arranged. In most cases, the long-term bonds then provide the funds needed for repayment of the bond anticipation notes. Tax and revenue anticipation notes combine the funding sources of both tax anticipation
        notes and revenue anticipation notes. Construction loan notes are sold to provide construction financing. Mortgage notes insured by the Federal Housing Authority secure these notes; however, the proceeds from the insurance may be less than the
        economic equivalent of the payment of principal and interest on the mortgage note if there has been a default. The anticipated revenues from taxes, grants or bond financing generally secure the obligations of an issuer of municipal notes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in &#8220;tobacco settlement bonds.&#8221; Tobacco settlement bonds are municipal securities that are secured or payable solely from the collateralization of the proceeds from class action
        or other litigation against the tobacco industry.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in pre-refunded municipal securities. The principal of and interest on pre-refunded municipal securities are no longer paid from the original revenue source for the securities.
        Instead, the source of such payments is typically an escrow fund consisting of U.S. government securities. The assets in the escrow fund are derived from the proceeds of refunding bonds issued by the same issuer as the pre-refunded municipal
        securities. Issuers of municipal securities use this advance refunding technique to obtain more favorable terms with respect to securities that are not yet subject to call or redemption by the issuer. For example, advance refunding enables an
        issuer to refinance debt at lower market interest rates, restructure debt to improve cash flow or eliminate restrictive covenants in the indenture or other governing instrument for the pre-refunded municipal securities. However, except for a change
        in the revenue source from which principal and interest payments are made, the pre-refunded municipal securities remain outstanding on their original terms until they mature or are redeemed by the issuer.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in private activity bonds. Private activity bonds are issued by or on behalf of public authorities to obtain funds to provide privately operated housing facilities, airport, mass
        transit or port facilities, sewage disposal, solid waste disposal or hazardous waste treatment or disposal facilities and certain local facilities for water supply, gas or electricity. Other types of private activity bonds, the proceeds of which
        are used for the construction, equipment, repair or improvement of privately operated industrial or commercial facilities, may constitute municipal securities, although the current federal tax laws place substantial limitations on the size of such
        issues.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in inverse floating rate securities issued by a TOB trust, the interest rate on which varies inversely with the Securities Industry Financial Markets Association short-term rate,
        which resets weekly, or a similar short-term rate, and is reduced by the expenses related to the TOB trust. Typically, inverse floating rate securities represent beneficial interests in a special purpose trust (sometimes called a TOB trust) formed
        by a third party sponsor for the purpose of holding municipal bonds. Inverse floating rate securities may increase or decrease in value at a greater rate than the underlying interest rate on the municipal bond held by the TOB trust, which
        effectively leverages the Fund&#8217;s investment.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">85</div>
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            </a> </div>
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        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in floating rate securities issued by special purpose trusts. Floating rate securities may take the form of short-term floating rate securities or the option period may be
        substantially longer. Generally, the interest rate earned will be based upon the market rates for municipal securities with maturities or remarketing provisions that are comparable in duration to the periodic interval of the tender option, which
        may vary from weekly, to monthly, to extended periods of one year or multiple years. Since the option feature has a shorter term than the final maturity or first call date of the underlying bond deposited in the trust, the Fund as the holder of the
        floating rate security relies upon the terms of the agreement with the financial institution furnishing the option as well as the credit strength of that institution. As further assurance of liquidity, the terms of the trust provide for a
        liquidation of the municipal security deposited in the trust and the application of the proceeds to pay off the floating rate security. The trusts that are organized to issue both short-term floating rate securities and inverse floaters generally
        include liquidation triggers to protect the investor in the floating rate security.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in municipal securities issued by special taxing districts. Special taxing districts are organized to plan and finance infrastructure developments to induce residential,
        commercial and industrial growth and redevelopment. The bond financing methods such as tax increment finance, tax assessment, special services district and Mello-Roos bonds, are generally payable solely from taxes or other revenues attributable to
        the specific projects financed by the bonds without recourse to the credit or taxing power of related or overlapping municipalities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in zero coupon bonds. A zero coupon bond is a bond that typically does not pay interest for the entire life of the obligation or for an initial period after the issuance of the
        obligation.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may buy and sell securities on a when-issued or delayed delivery basis, making payment or taking delivery at a later date, normally within 15 to 45 days of the trade date.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may utilize structured notes and similar instruments for investment purposes and also for hedging purposes. Structured notes are privately negotiated debt obligations where the principal
        and/or interest is determined by reference to the performance of a benchmark asset, market or interest rate (an &#8220;embedded index&#8221;), such as selected securities, an index of securities or specified interest rates, or the differential performance of
        two assets or markets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in illiquid securities (<font style="font-style: italic;">i.e., </font>securities that are not readily marketable), including, but not limited to, restricted securities
        (securities the disposition of which is restricted under the federal securities laws), securities that may be resold only pursuant to Rule 144A under the Securities Act of 1933, as amended (the &#8220;1933 Act&#8221;), and repurchase agreements with maturities
        in excess of seven days.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may enter into certain derivative instruments in pursuit of its investment objectives, including to seek to enhance return, to hedge certain risks of its investments in municipal securities
        or as a substitute for a position in the underlying asset. Such instruments include financial futures contracts, swap contracts (including interest rate swaps, credit default swaps and municipal market data rate locks (&#8220;MMD Rate Locks&#8221;)), options
        on financial futures, options on swap contracts or other derivative instruments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may purchase and sell MMD Rate Locks. An MMD Rate Lock permits the Fund to lock in a specified municipal interest rate for a portion of its portfolio to preserve a return on a particular
        investment or a portion of its portfolio as a duration management technique or to protect against any increase in the price of securities to be purchased at a later date. By using an MMD Rate Lock, the Fund can create a synthetic long or short
        position, allowing the Fund to select what the manager believes is an attractive part of the yield curve. The Fund will ordinarily use these transactions as a hedge or for duration or risk management although it is permitted to enter into them to
        enhance income or gain or to increase the Fund&#8217;s yield, for example, during periods of steep interest rate yield curves (<font style="font-style: italic;">i.e., </font>wide differences between short term and long term interest rates).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may also invest in securities of other open- or closed-end investment companies (including ETFs) that invest primarily in municipal securities of the types in which the Fund may invest
        directly, to the extent permitted by the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;), the rules and regulations issued thereunder and applicable exemptive orders issued by the Securities and Exchange Commission (&#8220;SEC&#8221;).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Use of Leverage</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund uses leverage to pursue its investment objectives. The Fund may use leverage to the extent permitted by the 1940 Act. The Fund may source leverage through a number of methods including the
        issuance of preferred shares of beneficial interest (&#8220;Preferred Shares&#8221;) and investments in inverse floating rate securities. The Fund may borrow money (including reverse repurchase agreements) from banks for temporary or emergency purposes, or to
        repurchase its shares. In addition, the Fund may also use certain derivatives that have the economic effect of leverage by creating additional investment exposure. The amount and sources of leverage will vary depending on market conditions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Temporary Defensive Periods</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During temporary defensive periods (<font style="font-style: italic;">e.g., </font>times when, in the Fund&#8217;s investment adviser&#8217;s and/or the Fund&#8217;s sub-adviser&#8217;s opinion, temporary imbalances of
        supply and demand or other temporary dislocations in the tax-exempt bond market adversely affect the price at which long-term or intermediate-term municipal securities are available), the Fund may invest up to 100% of its net assets in cash or cash
        equivalents, short-term investments or municipal bonds and deviate from its investment policies including the Fund&#8217;s 80% names rule policy. Also, during these periods, the weighted average maturity of the Fund&#8217;s investment portfolio may fall below
        the effective maturity range of at least 15 years and the Fund may not achieve its investment objectives.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">86</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">PRINCIPAL RISKS OF THE FUNDS</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The factors that are most likely to have a material effect on a particular Fund&#8217;s portfolio as a whole are called &#8220;principal risks.&#8221; Each Fund is subject to the principal risks indicated below,
        whether through direct investment or derivative positions. Each Fund may be subject to additional risks other than those identified and described below because the types of investments made by a Fund can change over time.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd486511393974a95be4caa7b20a5f777">

          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">AMT-Free Quality</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Quality</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Value</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Income</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Income</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Risk</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NCA)</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NKX)</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NAC)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;"><font style="font-weight: bold; font-style: italic;">Portfolio Level Risks</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Alternative Minimum Tax Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">&#8212;&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Below Investment Grade Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Call Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Credit Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Credit Spread Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Deflation Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Derivatives Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Distressed Securities Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Duration Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Economic Sector Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Financial Futures and Options Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Hedging Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Illiquid Investments Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Income Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Inflation Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Insurance Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Interest Rate Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Inverse Floating Rate Securities Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Municipal Securities Market Liquidity Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Municipal Securities Market Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Other Investment Companies Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Puerto Rico Municipal Securities Market Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Reinvestment Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Sector and Industry Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Sector Focus Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Special Considerations Related to California Concentration Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Special Risks Related to Certain Municipal Obligations&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Swap Transactions Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Tax Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Taxability Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Tobacco Settlement Bond Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Unrated Securities Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Valuation Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Zero Coupon Bonds Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">87</div>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      <div id="DSPFPageHeader" style="width: 100%;">
        <div><a href="#TableofContents">Table of Contents<br>
          </a> </div>
        <div><a href="#TableofContents"> </a></div>
      </div>
    </div>
    <div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zb5be72c2306c443ea833c42b90724748">

          <tr>
            <td style="width: 55%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
            <td style="width: 15%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div><font style="font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">AMT-Free Quality</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Quality</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Value</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Income</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Income</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">Risk</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NCA)</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NKX)</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NAC)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;"><font style="font-weight: bold; font-style: italic;">Fund Level and Other Risks</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Anti-Takeover Provisions&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Counterparty Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Cybersecurity Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Economic and Political Events Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Global Economic Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Investment and Market Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Legislation and Regulatory Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Leverage Risk&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">&#8212;&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Market Discount from Net Asset Value&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">X&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Recent Market Conditions&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">X&#160;</div>
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              <div style="text-align: center;">X&#160;</div>
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              <div>Reverse Repurchase Agreement Risk&#160;</div>
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              <div style="text-align: center;">X&#160;</div>
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              <div style="text-align: center;">X&#160;</div>
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              <div style="text-align: center;">X&#160;</div>
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              <div><u>Portfolio Level Risks:</u></div>
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              <div>&#160;</div>
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              <div>&#160;</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Alternative Minimum Tax Risk. </font>The Fund may invest in AMT Bonds. Therefore, a portion of the Fund&#8217;s otherwise exempt-interest dividends may be taxable to
        those shareholders subject to the federal alternative minimum tax.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Below Investment Grade Risk. </font>Municipal securities of below investment grade quality are regarded as having speculative characteristics with respect to the
        issuer&#8217;s capacity to pay interest and repay principal, and may be subject to higher price volatility and default risk than investment grade municipal securities of comparable terms and duration. Issuers of lower grade municipal securities may be
        highly leveraged and may not have available to them more traditional methods of financing. The prices of these lower grade securities are typically more sensitive to negative developments, such as a decline in the issuer&#8217;s revenues or a general
        economic downturn. The secondary market for lower rated municipal securities may not be as liquid as the secondary market for more highly rated municipal securities, a factor which may have an adverse effect on the Fund&#8217;s ability to dispose of a
        particular municipal security. If a below investment grade municipal security goes into default, or its issuer enters bankruptcy, it might be difficult to sell that security in a timely manner at a reasonable price.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Call Risk. </font>The Fund may invest in municipal securities that are subject to call risk. Such municipal securities may be redeemed at the option of the issuer,
        or &#8220;called,&#8221; before their stated maturity or redemption date. In general, an issuer will call its instruments if they can be refinanced by issuing new instruments that bear a lower interest rate. The Fund is subject to the possibility that during
        periods of falling interest rates, an issuer will call its high yielding municipal securities. The Fund would then be forced to invest the unanticipated proceeds at lower interest rates, resulting in a decline in the Fund&#8217;s income.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Credit Risk. </font>Issuers of municipal securities in which the Fund may invest may default on their obligations to pay principal or interest when due. This
        non-payment would result in a reduction of income to the Fund, a reduction in the value of a municipal security experiencing non-payment and potentially a decrease in the net asset value (&#8220;NAV&#8221;) of the Fund. To the extent that the credit rating
        assigned to a municipal security in the Fund&#8217;s portfolio is downgraded, the market price and liquidity of such security may be adversely affected.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Credit Spread Risk. </font>Credit spread risk is the risk that credit spreads (<font style="font-style: italic;">i.e., </font>the difference in yield between
        securities that is due to differences in their credit quality) may increase when the market believes that municipal securities generally have a greater risk of default. Increasing credit spreads may reduce the market values of the Fund&#8217;s
        securities. Credit spreads often increase more for lower rated and unrated securities than for investment grade securities. In addition, when credit spreads increase, reductions in market value will generally be greater for longer-maturity
        securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Deflation Risk. </font>Deflation risk is the risk that prices throughout the economy decline over time. Deflation may have an adverse effect on the creditworthiness
        of issuers and may make issuer default more likely, which may result in a decline in the value of the Fund&#8217;s portfolio.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Derivatives Risk. </font>The use of derivatives involves additional risks and transaction costs which could leave the Fund in a worse position than if it had not
        used these instruments. Derivative instruments can be used to acquire or to transfer the risk and returns of a municipal security or other asset without buying or selling the municipal security or asset. These instruments may entail investment
        exposures that are greater than their cost would suggest. As a result, a small investment in derivatives can result in losses that greatly exceed the original investment. Derivatives can be highly volatile, illiquid and difficult to value. An
        over-the-counter derivative transaction between the Fund and a counterparty that is not cleared through a central counterparty</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">88</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt;">also involves the risk that a loss may be sustained as a result of the failure of the counterparty to the contract to make required payments. The payment obligation for a cleared derivative
        transaction is guaranteed by a central counterparty, which exposes the Fund to the creditworthiness of the central counterparty.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">It is possible that developments in the derivatives market, including changes in government regulation, could adversely impact the Fund&#8217;s ability to invest in certain derivatives.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Distressed Securities Risk. </font>The Fund may invest in low-rated securities or securities unrated but judged by the sub-adviser to be of comparable quality. Some
        or many of these low-rated securities, although not in default, may be &#8220;distressed,&#8221; meaning that the issuer is experiencing financial difficulties or distress at the time of acquisition. Such securities would present a substantial risk of future
        default which may cause the Fund to incur losses, including additional expenses, to the extent it is required to seek recovery upon a default in the payment of principal or interest on those securities. In any reorganization or liquidation
        proceeding relating to a portfolio security, the Fund may lose its entire investment or may be required to accept cash or securities with a value less than its original investment. Distressed securities may be subject to restrictions on resale.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Duration Risk. </font>Duration is the sensitivity, expressed in years, of the price of a fixed-income security to changes in the general level of interest rates (or
        yields). Securities with longer durations tend to be more sensitive to interest rate (or yield) changes, which typically corresponds to increased volatility and risk, than securities with shorter durations. For example, if a security or portfolio
        has a duration of three years and interest rates increase by 1%, then the security or portfolio would decline in value by approximately 3%. Duration differs from maturity in that it considers potential changes to interest rates, and a security&#8217;s
        coupon payments, yield, price and par value and call features, in addition to the amount of time until the security matures. The duration of a security will be expected to change over time with changes in market factors and time to maturity.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Economic Sector Risk. </font>The Fund may invest a significant amount of its total assets in municipal securities in the same economic sector. This may make the
        Fund more susceptible to adverse economic, political or regulatory occurrences affecting an economic sector. As concentration increases, so does the potential for fluctuation in the value of the Fund&#8217;s assets. In addition, the Fund may invest a
        significant portion of its assets in certain sectors of the municipal securities market, such as health care facilities, private educational facilities, special taxing districts and start-up utility districts, and private activity bonds including
        industrial development bonds on behalf of transportation companies, whose credit quality and performance may be more susceptible to economic, business, political, regulatory and other developments than other sectors of municipal issuers. If the
        Fund invests a significant portion of its assets in the sectors noted above, the Fund&#8217;s performance may be subject to additional risk and variability.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Financial Futures and Options Transactions Risk. </font>The Fund may use certain transactions for hedging the portfolio&#8217;s exposure to credit risk and the risk of
        increases in interest rates, which could result in poorer overall performance for the Fund. There may be an imperfect correlation between price movements of the futures and options and price movements of the portfolio securities being hedged.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">If the Fund engages in futures transactions or in the writing of options on futures, it will be required to maintain initial margin and maintenance margin and may be required to make daily variation
        margin payments in accordance with applicable rules of the exchanges and the Commodity Futures Trading Commission (&#8220;CFTC&#8221;). If the Fund purchases a financial futures contract or a call option or writes a put option in order to hedge the anticipated
        purchase of municipal securities, and if the Fund fails to complete the anticipated purchase transaction, the Fund may have a loss or a gain on the futures or options transaction that will not be offset by price movements in the municipal
        securities that were the subject of the anticipatory hedge. There can be no assurance that a liquid market will exist at a time when the Fund seeks to close out a derivatives or futures or a futures option position, and the Fund would remain
        obligated to meet margin requirements until the position is closed.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Hedging Risk. </font>The Fund&#8217;s use of derivatives or other transactions to reduce risk involves costs and will be subject to the investment adviser&#8217;s and/or the
        sub-adviser&#8217;s ability to predict correctly changes in the relationships of such hedge instruments to the Fund&#8217;s portfolio holdings or other factors. No assurance can be given that the investment adviser&#8217;s and/or the sub-adviser&#8217;s judgment in this
        respect will be correct, and no assurance can be given that the Fund will enter into hedging or other transactions at times or under circumstances in which it may be advisable to do so. Hedging activities may reduce the Fund&#8217;s opportunities for
        gain by offsetting the positive effects of favorable price movements and may result in net losses.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Illiquid Investments Risk. </font>Illiquid investments are investments that are not readily marketable and may include restricted securities, which are securities
        that may not be resold unless they have been registered under the 1933 Act or that can be sold in a private transaction pursuant to an available exemption from such registration. Illiquid investments involve the risk that the investments will not
        be able to be sold at the time desired by the Fund or at prices approximating the value at which the Fund is carrying the investments on its books from time to time.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Income Risk. </font>The Fund&#8217;s income could decline due to falling market interest rates. This is because, in a falling interest rate environment, the Fund
        generally will have to invest the proceeds from maturing portfolio securities in lower-yielding securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Inflation Risk. </font>Inflation risk is the risk that the value of assets or income from investments will be worth less in the future as inflation decreases the
        value of money. As inflation increases, the real value of the common shares and distributions can decline.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Insurance Risk. </font>The Fund may purchase municipal securities that are secured by insurance, bank credit agreements or escrow accounts. The credit quality of
        the companies that provide such credit enhancements will affect the value of those securities. Certain significant providers of insurance for municipal securities have incurred significant losses as a result of exposure to sub-prime mortgages and
        other lower credit quality investments. As a result, such losses reduced the insurers&#8217; capital and called into question their continued ability to perform their obligations under such insurance if they</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">89</div>
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      <div>&#160;</div>
      <div><br>
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">are called upon to do so in the future. While an insured municipal security will typically be deemed to have the rating of its insurer, if the insurer of a municipal security suffers a downgrade in
        its credit rating or the market discounts the value of the insurance provided by the insurer, the value of the municipal security would more closely, if not entirely, reflect such rating. In such a case, the value of insurance associated with a
        municipal security may not add any value. The insurance feature of a municipal security does not guarantee the full payment of principal and interest through the life of an insured obligation, the market value of the insured obligation or the NAV
        of the common shares represented by such insured obligation.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Interest Rate Risk. </font>Interest rate risk is the risk that municipal securities in the Fund&#8217;s portfolio will decline in value because of changes in market
        interest rates. Generally, when market interest rates rise, the market value of such securities will fall, and vice versa. As interest rates decline, issuers of municipal securities may prepay principal earlier than scheduled, forcing the Fund to
        reinvest in lower-yielding securities and potentially reducing the Fund&#8217;s income. As interest rates increase, slower than expected principal payments may extend the average life of municipal securities, potentially locking in a below-market
        interest rate and reducing the Fund&#8217;s value. In typical market interest rate environments, the prices of longer-term municipal securities generally fluctuate more than prices of shorter-term municipal securities as interest rates change.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Inverse Floating Rate Securities Risk. </font>The Fund may invest in inverse floating rate securities. In general, income on inverse floating rate securities will
        decrease when short-term interest rates increase and increase when short-term interest rates decrease. Investments in inverse floating rate securities may subject the Fund to the risks of reduced or eliminated interest payments and losses of
        principal. In addition, inverse floating rate securities may increase or decrease in value at a greater rate than the underlying interest rate, which effectively leverages the Fund&#8217;s investment. As a result, the market value of such securities
        generally will be more volatile than that of fixed rate securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may invest in inverse floating rate securities issued by special purpose trusts that have recourse to the Fund. In such instances, the Fund may be at risk of loss that exceeds its
        investment in the inverse floating rate securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may be required to sell its inverse floating rate securities at less than favorable prices, or liquidate other Fund portfolio holdings in certain circumstances, including, but not limited
        to, the following:</div>
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                <div>If the Fund has a need for cash and the securities in a special purpose trust are not actively trading due to adverse market conditions;</div>
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                <div>If special purpose trust sponsors (as a collective group or individually) experience financial hardship and consequently seek to terminate&#160;their respective outstanding special purpose trusts; and</div>
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                <div>If the value of an underlying security declines significantly and if additional collateral has not been posted by the Fund.</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Municipal Securities Market Liquidity Risk. </font>Inventories of municipal securities held by brokers and dealers have decreased in recent years, lessening their
        ability to make a market in these securities. This reduction in market making capacity has the potential to decrease the Fund&#8217;s ability to buy or sell municipal securities at attractive prices, and increase municipal security price volatility and
        trading costs, particularly during periods of economic or market stress. In addition, recent federal banking regulations may cause certain dealers to reduce their inventories of municipal securities, which may further decrease the Fund&#8217;s ability to
        buy or sell municipal securities. As a result, the Fund may be forced to accept a lower price to sell a security, to sell other securities to raise cash, or to give up an investment opportunity, any of which could have a negative effect on
        performance. If the Fund needed to sell large blocks of municipal securities to raise cash to meet its obligations, those sales could further reduce the municipal securities&#8217; prices and hurt performance.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Municipal Securities Market Risk. </font>The amount of public information available about the municipal securities in the Fund&#8217;s portfolio is generally less than
        that for corporate equities or bonds, and the investment performance of the Fund may therefore be more dependent on the analytical abilities of the sub-adviser than if the Fund were a stock fund or taxable bond fund. The secondary market for
        municipal securities, particularly below investment grade municipal securities, also tends to be less well-developed or liquid than many other securities markets, which may adversely affect the Fund&#8217;s ability to sell its municipal securities at
        attractive prices.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Other Investment Companies Risk. </font>The Fund may invest in the securities of other investment companies, including ETFs. Investing in an investment company
        exposes the Fund to all of the risks of that investment company&#8217;s investments. The Fund, as a holder of the securities of other investment companies, will bear its <font style="font-style: italic;">pro rata </font>portion of the other investment
        companies&#8217; expenses, including advisory fees. These expenses are in addition to the direct expenses of the Fund&#8217;s own operations. As a result, the cost of investing in investment company shares may exceed the costs of investing directly in its
        underlying investments. In addition, securities of other investment companies may be leveraged. As a result, the Fund may be indirectly exposed to leverage through an investment in such securities and therefore magnify the Fund&#8217;s leverage risk.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">With respect to ETF&#8217;s, an ETF that is based on a specific index may not be able to replicate and maintain exactly the composition and relative weighting of securities in the index. The value of an
        ETF based on a specific index is subject to change as the values of its respective component assets fluctuate according to market volatility. ETFs typically rely on a limited pool of authorized participants to create and redeem shares, and an
        active trading market for ETF shares may not develop or be maintained. The market value of shares of ETFs and closed-end funds may differ from their NAV.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Puerto Rico Municipal Securities Market Risk. </font>To the extent that the Fund invests a significant portion of its assets in the securities issued by the
        Commonwealth of Puerto Rico or its political subdivisions, agencies, instrumentalities, or public corporations (collectively referred to as &#8220;Puerto Rico&#8221; or</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">90</div>
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      <div style="margin-top: 12pt; margin-bottom: 12pt;">the &#8220;Commonwealth&#8221;), it will be disproportionally affected by political, social and economic conditions and developments in the Commonwealth. In addition, economic, political or regulatory changes
        in that territory could adversely affect the value of the Fund&#8217;s investment portfolio.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Puerto Rico currently is experiencing significant fiscal and economic challenges, including substantial debt service obligations, high levels of unemployment, underfunded public retirement systems,
        and persistent government budget deficits. These challenges may negatively affect the value of the Fund&#8217;s investments in Puerto Rican municipal securities. Several major ratings agencies have downgraded the general obligation debt of Puerto Rico to
        below investment grade and continue to maintain a negative outlook for this debt, which increases the likelihood that the rating will be lowered further. Puerto Rico recently defaulted on its debt by failing to make full payment due on its
        outstanding bonds, and there can be no assurance that Puerto Rico will be able to satisfy its future debt obligations. Further downgrades or defaults may place additional strain on the Puerto Rico economy and may negatively affect the value,
        liquidity, and volatility of the Fund&#8217;s investments in Puerto Rican municipal securities. Additionally, numerous issuers have entered Title III of the Puerto Rico Oversight, Management and Economic Stability Act (&#8220;PROMESA&#8221;), which is similar to
        bankruptcy protection, through which the Commonwealth of Puerto Rico can restructure its debt. However, Puerto Rico&#8217;s case is the first ever heard under PROMESA and there is no existing case precedent to guide the proceedings. Accordingly, Puerto
        Rico&#8217;s debt restructuring process could take significantly longer than traditional municipal bankruptcy proceedings. Further, it is not clear whether a debt restructuring process will ultimately be approved or, if so, the extent to which it will
        apply to Puerto Rico municipal securities sold by an issuer other than the territory. A debt restructuring could reduce the principal amount due, the interest rate, the maturity, and other terms of Puerto Rico municipal securities, which could
        adversely affect the value of Puerto Rican municipal securities. Legislation that would allow Puerto Rico to restructure its municipal debt obligations, thus increasing the risk that Puerto Rico may never pay off municipal indebtedness, or may pay
        only a small fraction of the amount owed, could also impact the value of the Fund&#8217;s investments in Puerto Rican municipal securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">These challenges and uncertainties have been exacerbated by multiple hurricanes and the resulting natural disasters that have stuck Puerto Rico since 2017. The full extent of the natural disasters&#8217;
        impact on Puerto Rico&#8217;s economy and foreign investment in Puerto Rico is difficult to estimate.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Reinvestment Risk. </font>Reinvestment risk is the risk that income from the Fund&#8217;s portfolio will decline if and when the Fund invests the proceeds from matured,
        traded or called municipal securities at market interest rates that are below the portfolio&#8217;s current earnings rate. A decline in income could affect the common shares&#8217; market price, NAV and/or a common shareholder&#8217;s overall returns.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Sector and Industry Risk. </font>Subject to the concentration limits of the Fund&#8217;s investment policies and guidelines, a Fund may invest a significant portion of
        its net assets in certain sectors of the municipal securities market, such as hospitals and other health care facilities, charter schools and other private educational facilities, special taxing districts and start-up utility districts, and private
        activity bonds including industrial development bonds on behalf of transportation companies such as airline companies, whose credit quality and performance may be more susceptible to economic, business, political, regulatory and other developments
        than other sectors of municipal issuers. If the Fund invests a significant portion of its net assets in the sectors noted above, the Fund&#8217;s performance may be subject to additional risk and variability.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Sector Focus Risk. </font>At times, the Fund may focus its investments (<font style="font-style: italic;">i.e., </font>overweight its investments relative to the
        overall municipal securities market) in one or more particular sectors, which may subject the Fund to additional risk and variability. Securities issued in the same sector may be similarly affected by economic or market events, making the Fund more
        vulnerable to unfavorable developments in that sector than funds that invest more broadly. As the percentage of the Fund&#8217;s Managed Assets invested in a particular sector increases, so does the potential for fluctuation in the NAV of the Fund&#8217;s
        common shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Special Considerations Related to California Concentration Risk. </font>Because the Fund primarily invests in municipal securities from a single state, the State of
        California, the Fund is more susceptible to political, economic or regulatory factors affecting issuers of California municipal securities. Information regarding the financial condition of the State of California is ordinarily included in various
        public documents issued thereby, such as the official statements prepared in connection with the issuance of general obligation bonds of the State of California.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Additionally, the State of California is a party to numerous legal proceedings, many of which normally occur in governmental operations. The creditworthiness of obligations issued by local
        California issuers may be unrelated to the creditworthiness of obligations issued by the State of California, and that there is no obligation on the part of the State of California to make payment on such local obligations in the event of default.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Special Risks Related to Certain Municipal Obligations. </font>Municipal leases and certificates of participation involve special risks not normally associated with
        general obligations or revenue bonds. Leases and installment purchase or conditional sale contracts (which normally provide for title to the leased asset to pass eventually to the governmental issuer) have evolved as a means for governmental
        issuers to acquire property and equipment without meeting the constitutional and statutory requirements for the issuance of debt. The debt issuance limitations are deemed to be inapplicable because of the inclusion in many leases or contracts of
        &#8220;non-appropriation&#8221; clauses that relieve the governmental issuer of any obligation to make future payments under the lease or contract unless money is appropriated for such purpose by the appropriate legislative body. In addition, such leases or
        contracts may be subject to the temporary abatement of payments in the event that the governmental issuer is prevented from maintaining occupancy of the leased premises or utilizing the leased equipment. Although the obligations may be secured by
        the leased equipment or facilities, the disposition of the property in the event of non-appropriation or foreclosure might prove difficult, time consuming and costly, and may result in a delay in recovering or the failure to fully recover the
        Fund&#8217;s original investment. In the event of non-appropriation, the issuer would be in default and taking ownership of the assets may be a remedy available to the Fund, although the Fund does not anticipate that such a remedy would normally be
        pursued.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">91</div>
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      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Certificates of participation involve the same risks as the underlying municipal leases. In addition, the Fund may be dependent upon the municipal authority issuing the certificates of participation
        to exercise remedies with respect to the underlying securities. Certificates of participation also entail a risk of default or bankruptcy, both of the issuer of the municipal lease and also the municipal agency issuing the certificate of
        participation.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Swap Transactions Risk. </font>The Fund may enter into debt-related derivative instruments such as credit default swap contracts and interest rate swaps. Like most
        derivative instruments, the use of swaps is a highly specialized activity that involves investment techniques and risks different from those associated with ordinary portfolio securities transactions. In addition, the use of swaps requires an
        understanding by the adviser and/or the sub-adviser of not only the referenced asset, rate or index, but also of the swap itself. If the investment adviser and/or the sub-adviser is incorrect in its forecasts of default risks, market spreads or
        other applicable factors or events, the investment performance of the Fund would diminish compared with what it would have been if these techniques were not used.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Tax Risk. </font>The value of the Fund&#8217;s investments and its NAV may be adversely affected by changes in tax rates, rules and policies. Because interest income from
        municipal securities is normally not subject to regular federal income taxation, the attractiveness of municipal securities in relation to other investment alternatives is affected by changes in federal income tax rates or changes in the tax exempt
        status of interest income from municipal securities. Additionally, the Fund is not a suitable investment for individual retirement accounts, for other tax exempt or tax-deferred accounts, for investors who are not sensitive to the federal income
        tax consequences of their investments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Taxability Risk. </font>The Fund will invest in municipal securities in reliance at the time of purchase on an opinion of bond counsel to the issuer that the
        interest paid on those securities will be excludable from gross income for regular federal income tax purposes, and the sub-adviser will not independently verify that opinion. Subsequent to the Fund&#8217;s acquisition of such a municipal security,
        however, the security may be determined to pay, or to have paid, taxable income. As a result, the treatment of dividends previously paid or to be paid by the Fund as &#8220;exempt-interest dividends&#8221; could be adversely affected, subjecting the Fund&#8217;s
        shareholders to increased federal income tax liabilities. Certain other investments made by the Fund, including derivatives transactions, may result in the receipt of taxable income or gains by the Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Tobacco Settlement Bond Risk. </font>The Fund may invest in tobacco settlement bonds. Tobacco settlement bonds are municipal securities that are backed solely by
        expected revenues to be derived from lawsuits involving tobacco related deaths and illnesses which were settled between certain states and American tobacco companies. Tobacco settlement bonds are secured by an issuing state&#8217;s proportionate share in
        the Master Settlement Agreement, an agreement between 46 states and nearly all of the U.S. tobacco manufacturers (the &#8220;MSA&#8221;). Under the terms of the MSA, the actual amount of future settlement payments by tobacco-manufacturers is dependent on many
        factors, including, among other things, reduced cigarette consumption. Payments made by tobacco manufacturers could be negatively impacted if the decrease in tobacco consumption is significantly greater than the forecasted decline.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Unrated Securities Risk. </font>The Fund may purchase securities that are not rated by any rating organization. The investment adviser may, after assessing such
        securities&#8217; credit quality, internally assign ratings to certain of those securities in categories similar to those of rating organizations. Some unrated securities may not have an active trading market or may be difficult to value, which means the
        Fund might have difficulty selling them promptly at an acceptable price. To the extent that the Fund invests in unrated securities, the Fund&#8217;s ability to achieve its investment objectives will be more dependent on the investment adviser&#8217;s credit
        analysis than would be the case when the Fund invests in rated securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Valuation Risk. </font>The municipal securities in which the Fund invests typically are valued by a pricing service utilizing a range of market-based inputs and
        assumptions, including readily available market quotations obtained from broker-dealers making markets in such instruments, cash flows and transactions for comparable instruments. There is no assurance that the Fund will be able to sell a portfolio
        security at the price established by the pricing service, which could result in a loss to the Fund. Pricing services generally price municipal securities assuming orderly transactions of an institutional &#8220;round lot&#8221; size, but some trades may occur
        in smaller, &#8220;odd lot&#8221; sizes, often at lower prices than institutional round lot trades. Different pricing services may incorporate different assumptions and inputs into their valuation methodologies, potentially resulting in different values for
        the same securities. As a result, if the Fund were to change pricing services, or if the Fund&#8217;s pricing service were to change its valuation methodology, there could be a material impact, either positive or negative, on the Fund&#8217;s NAV.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Zero Coupon Bonds Risk. </font>Because interest on zero coupon bonds is not paid on a current basis, the values of zero coupon bonds will be more volatile in
        response to interest rate changes than the values of bonds that distribute income regularly. Although zero coupon bonds generate income for accounting purposes, they do not produce cash flow, and thus the Fund could be forced to liquidate
        securities at an inopportune time in order to generate cash to distribute to shareholders as required by tax laws.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Fund Level and Other Risks:</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Anti-Takeover Provisions. </font>The Fund&#8217;s organizational documents include provisions that could limit the ability of other entities or persons to acquire control
        of the Fund or convert the Fund to open-end status. Further, the Fund&#8217;s by-laws provide that a shareholder who obtains beneficial ownership of common shares in a &#8220;Control Share Acquisition&#8221; shall have the same voting rights as other common shares
        only to the extent authorized by shareholders. These provisions could have the effect of depriving the common shareholders of opportunities to sell their common shares at a premium over the then-current market price of the common shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">92</div>
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      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Counterparty Risk. </font>Changes in the credit quality of the companies that serve as the Fund&#8217;s counterparties with respect to derivatives or other transactions
        supported by another party&#8217;s credit will affect the value of those instruments. Certain entities that have served as counterparties in the markets for these transactions have incurred or may incur in the future significant financial hardships
        including bankruptcy and losses as a result of exposure to sub-prime mortgages and other lower-quality credit investments. As a result, such hardships have reduced these entities&#8217; capital and called into question their continued ability to perform
        their obligations under such transactions. By using such derivatives or other transactions, the Fund assumes the risk that its counterparties could experience similar financial hardships. In the event of the insolvency of a counterparty, the Fund
        may sustain losses or be unable to liquidate a derivatives position.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Cybersecurity Risk. </font>The Fund and its service providers are susceptible to operational and information security risk resulting from cyber incidents. Cyber
        incidents refer to both intentional attacks and unintentional events including: processing errors, human errors, technical errors including computer glitches and system malfunctions, inadequate or failed internal or external processes, market-wide
        technical-related disruptions, unauthorized access to digital systems (through &#8220;hacking&#8221; or malicious software coding), computer viruses, and cyber-attacks which shut down, disable, slow or otherwise disrupt operations, business processes or
        website access or functionality (including denial of service attacks). Cyber incidents could adversely impact the Fund and cause the Fund to incur financial loss and expense, as well as face exposure to regulatory penalties, reputational damage,
        and additional compliance costs associated with corrective measures. In addition, substantial costs may be incurred in order to prevent any cyber incidents in the future. Furthermore, the Fund cannot control the cybersecurity plans and systems put
        in place by its service providers or any other third parties whose operations may affect the Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Economic and Political Events Risk. </font>The Fund may be more sensitive to adverse economic, business or political developments if it invests a substantial
        portion of its assets in the municipal securities of similar projects (such as those relating to the education, health care, housing, transportation, or utilities industries), industrial development bonds, or in particular types of municipal
        securities (such as general obligation bonds, private activity bonds or moral obligation bonds). Such developments may adversely affect a specific industry or local political and economic conditions, and thus may lead to declines in the
        creditworthiness and value of such municipal securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Global Economic Risk. </font>National and regional economies and financial markets are becoming increasingly interconnected, which increases the possibilities that
        conditions in one country, region or market might adversely impact issuers in a different country, region or market. Changes in legal, political, regulatory, tax and economic conditions may cause fluctuations in markets and securities prices around
        the world, which could negatively impact the value of the Fund&#8217;s investments. Major economic or political disruptions, particularly in large economies like China&#8217;s, may have global negative economic and market repercussions. Additionally, events
        such as war, terrorism, natural and environmental disasters and the spread of infectious illnesses or other public health emergencies may adversely affect the global economy and the markets and issuers in which the Fund invests. Recent examples of
        such events include the outbreak of a novel coronavirus known as COVID-19 that was first detected in China in December 2019 and heightened concerns regarding North Korea&#8217;s nuclear weapons and long-range ballistic missile programs. These events
        could reduce consumer demand or economic output, result in market closure, travel restrictions or quarantines, and generally have a significant impact on the economy. These events could also impair the information technology and other operational
        systems upon which the Fund&#8217;s service providers, including the investment adviser and sub-adviser, rely, and could otherwise disrupt the ability of employees of the Fund&#8217;s service providers to perform essential tasks on behalf of the Fund.
        Governmental and quasi-governmental authorities and regulators throughout the world have in the past responded to major economic disruptions with a variety of significant fiscal and monetary policy changes, including but not limited to, direct
        capital infusions into companies, new monetary programs and dramatically lower interest rates. An unexpected or quick reversal of these policies, or the ineffectiveness of these policies, could increase volatility in securities markets, which could
        adversely affect the Fund&#8217;s investments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Investment and Market Risk. </font>An investment in common shares is subject to investment risk, including the possible loss of the entire principal amount that you
        invest. Common shares frequently trade at a discount to their NAV. An investment in common shares represents an indirect investment in the securities owned by the Fund. Common shares at any point in time may be worth less than your original
        investment, even after taking into account the reinvestment of Fund dividends and distributions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Legislation and Regulatory Risk. </font>At any time after the date of this report, legislation or additional regulations may be enacted that could negatively affect
        the assets of the Fund, securities held by the Fund or the issuers of such securities. Fund shareholders may incur increased costs resulting from such legislation or additional regulation. There can be no assurance that future legislation,
        regulation or deregulation will not have a material adverse effect on the Fund or will not impair the ability of the Fund to achieve its investment objectives.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The SEC recently adopted rules governing the use of derivatives by registered investment companies, which could affect the nature and extent of derivatives used by the Fund. The full impact of such
        rules is uncertain at this time. It is possible that such rules, as interpreted, applied and enforced by the SEC, could limit the implementation of the Fund&#8217;s use of derivatives, which could have an adverse impact on the Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Leverage Risk. </font>The use of leverage creates special risks for common shareholders, including potential interest rate risks and the likelihood of greater
        volatility of NAV and market price of, and distributions on, the common shares. The use of leverage in a declining market will likely cause a greater decline in the Fund&#8217;s NAV, which may result at a greater decline of the common share price, than
        if the Fund were not to have used leverage.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund will pay (and common shareholders will bear) any costs and expenses relating to the Fund&#8217;s use of leverage, which will result in a reduction in the Fund&#8217;s NAV. The investment adviser may,
        based on its assessment of market conditions and composition of the Fund&#8217;s holdings, increase or decrease the amount of leverage. Such changes may impact the Fund&#8217;s distributions and the price of the common shares in the secondary market.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">93</div>
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      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Fund may seek to refinance its leverage over time, in the ordinary course, as current forms of leverage mature or it is otherwise desirable to refinance; however, the form that such leverage
        will take cannot be predicted at this time. If the Fund is unable to replace existing leverage on comparable terms, its costs of leverage will increase. Accordingly, there is no assurance that the use of leverage may result in a higher yield or
        return to common shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The amount of fees paid to the investment adviser and the sub-adviser for investment advisory services will be higher if the Fund uses leverage because the fees will be calculated based on the
        Fund&#8217;s Managed Assets - this may create an incentive for the investment adviser and the sub-adviser to leverage the Fund or increase the Fund&#8217;s leverage.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Market Discount from Net Asset Value. </font>Shares of closed-end investment companies like the Fund frequently trade at prices lower than their NAV. This
        characteristic is a risk separate and distinct from the risk that the Fund&#8217;s NAV could decrease as a result of investment activities. Whether investors will realize gains or losses upon the sale of the common shares will depend not upon the Fund&#8217;s
        NAV but entirely upon whether the market price of the common shares at the time of sale is above or below the investor&#8217;s purchase price for the common shares. Furthermore, management may have difficulty meeting the Fund&#8217;s investment objectives and
        managing its portfolio when the underlying securities are redeemed or sold during periods of market turmoil and as investors&#8217; perceptions regarding closed-end funds or their underlying investments change. Because the market price of the common
        shares will be determined by factors such as relative supply of and demand for the common shares in the market, general market and economic circumstances, and other factors beyond the control of the Fund, the Fund cannot predict whether the common
        shares will trade at, below or above NAV. The common shares are designed primarily for long-term investors, and you should not view the Fund as a vehicle for short-term trading purposes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Recent Market Conditions. </font>In response to the financial crisis and recent market events, policy and legislative changes by the United States government and
        the Federal Reserve to assist in the ongoing support of financial markets, both domestically and in other countries, are changing many aspects of financial regulation. The impact of these changes on the markets, and the practical implications for
        market participants, may not be fully known for some time. Withdrawal of government support, failure of efforts in response to the crisis, or investor perception that such efforts are not succeeding, could adversely impact the value and liquidity
        of certain securities. The severity or duration of adverse economic conditions may also be affected by policy changes made by governments or quasi-governmental organizations, including changes in tax laws and the imposition of trade barriers. The
        impact of new financial regulation legislation on the markets and the practical implications for market participants may not be fully known for some time. Changes to the Federal Reserve policy may affect the value, volatility and liquidity of
        dividend and interest paying securities. In addition, the contentious domestic political environment, as well as political and diplomatic events within the United States and abroad, such as the U.S. government&#8217;s inability at times to agree on a
        long-term budget and deficit reduction plan, the threat of a federal government shutdown and threats not to increase the federal government&#8217;s debt limit, may affect investor and consumer confidence and may adversely impact financial markets and the
        broader economy, perhaps suddenly and to a significant degree.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Interest rates have been unusually low in recent years in the United States and abroad but there is consensus that interest rates will increase during the life of the Fund, which could negatively
        impact the price of debt securities. Because there is little precedent for this situation, it is difficult to predict the impact of a significant rate increase on various markets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The current political climate has intensified concerns about a potential trade war between China and the United States, as each country has recently imposed tariffs on the other country&#8217;s products.
        These actions may trigger a significant reduction in international trade, the oversupply of certain manufactured goods, substantial price reductions of goods and possible failure of individual companies and/or large segments of China&#8217;s export
        industry, which could have a negative impact on the Fund&#8217;s performance.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The impact of these developments in the near- and long-term is unknown and could have additional adverse effects on economies, financial markets and asset valuations around the world.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Reverse Repurchase Agreement Risk. </font>A reverse repurchase agreement, in economic essence, constitutes a securitized borrowing by the Fund from the security
        purchaser. The Fund may enter into reverse repurchase agreements for the purpose of creating a leveraged investment exposure and, as such, their usage involves essentially the same risks associated with a leveraging strategy generally since the
        proceeds from these agreements may be invested in additional portfolio securities. Reverse repurchase agreements tend to be short-term in tenor, and there can be no assurances that the purchaser (lender) will commit to extend or &#8220;roll&#8221; a given
        agreement upon its agreed-upon repurchase date or an alternative purchaser can be identified on similar terms. Reverse repurchase agreements also involve the risk that the purchaser fails to return the securities as agreed upon, files for
        bankruptcy or becomes insolvent. The Fund may be restricted from taking normal portfolio actions during such time, could be subject to loss to the extent that the proceeds of the agreement are less than the value of securities subject to the
        agreement and may experience adverse tax consequences.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">94</div>
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      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">EFFECTS OF LEVERAGE</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The following table is furnished in response to requirements of the SEC. It is designed to illustrate the effects of leverage through the use of senior securities, as that term is defined under
        Section 18 of the 1940 Act, as well as certain other forms of leverage, such as reverse repurchase agreements and investments in inverse floating rate securities, on common share total return, assuming investment portfolio total returns (consisting
        of income and changes in the value of investments held in a Fund&#8217;s portfolio) of -10%, -5%, 0%, 5% and 10%. The table below reflects each Fund&#8217;s (i) continued use of leverage as of February 28, 2021 as a percentage of Managed Assets (including
        assets attributable to such leverage), (ii) the estimated annual effective interest expense rate payable by the Fund on such instruments (based on actual leverage costs incurred during the fiscal year ended February 28, 2021) as set forth in the
        table, and (iii) the annual return that the Fund&#8217;s portfolio must experience (net of expenses) in order to cover such costs of leverage based on such estimated annual effective interest expense rate. The information below does not reflect any
        Fund&#8217;s use of certain other forms of economic leverage achieved through the use of other instruments or transactions not considered to be senior securities under the 1940 Act, such as certain derivative instruments and investments in inverse
        floating rate securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The numbers are merely estimates, used for illustration. The costs of leverage may vary frequently and may be significantly higher or lower than the estimated rate. The assumed investment portfolio
        returns in the table below are hypothetical figures and are not necessarily indicative of the investment portfolio returns experienced or expected to be experienced by the Fund. Your actual returns may be greater or less than those appearing below.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z622298413b6a470a89611d5dfd85f9cb">

          <tr>
            <td style="width: 70%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Nuveen</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">California</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">AMT-Free Quality</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Quality</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Income</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Municipal Income</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-weight: bold;">Fund</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NKX)</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;"><font style="font-weight: bold;">(NAC)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Estimated Leverage as a Percentage of Managed Assets (Including Assets Attributable to Leverage)&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">37.24%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">36.27%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Estimated Annual Effective Leverage Expense Rate Payable by Fund on Leverage&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">1.28%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">1.31%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>Annual Return Fund Portfolio Must Experience (net of expenses) to Cover Estimated Annual Effective Interest Expense&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Rate on Leverage&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">0.48%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">0.48%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Common Share Total Return for (10.00)% Assumed Portfolio Total Return&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">-16.69%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">-16.44%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Common Share Total Return for (5.00)% Assumed Portfolio Total Return&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">-8.73%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">-8.59%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Common Share Total Return for 0.00% Assumed Portfolio Total Return&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">-0.76%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">-0.75%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>Common Share Total Return for 5.00% Assumed Portfolio Total Return&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">7.21%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center;">7.10%&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Common Share Total Return for 10.00% Assumed Portfolio Total Return&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">15.17%&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: center;">14.94%&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Common Share total return is composed of two elements &#8212; the distributions paid by a Fund to holders of common shares (the amount of which is largely determined by the net investment income of the
        Fund after paying dividend payments on any preferred shares issued by the Fund and expenses on any forms of leverage outstanding) and gains or losses on the value of the securities and other instruments the Fund owns. As required by SEC rules, the
        table assumes that a Fund is more likely to suffer capital losses than to enjoy capital appreciation. For example, to assume a total return of 0%, a Fund must assume that the income it receives on its investments is entirely offset by losses in the
        value of those investments. This table reflects hypothetical performance of a Fund&#8217;s portfolio and not the actual performance of the Fund&#8217;s common shares, the value of which is determined by market forces and other factors. Should a Fund elect to
        add additional leverage to its portfolio, any benefits of such additional leverage cannot be fully achieved until the proceeds resulting from the use of such leverage have been received by the Fund and invested in accordance with the Fund&#8217;s
        investment objectives and policies. As noted above, a Fund&#8217;s willingness to use additional leverage, and the extent to which leverage is used at any time, will depend on many factors.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">95</div>
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        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">DIVIDEND REINVESTMENT PLAN</font><br>
        <br>
        <br>
        <font style="font-weight: bold;"> Nuveen Closed-End Funds Automatic Reinvestment Plan</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Your Nuveen Closed-End Fund allows you to conveniently reinvest distributions in additional Fund shares. By choosing to reinvest, you&#8217;ll be able to invest money regularly and automatically, and
        watch your investment grow through the power of compounding. Just like distributions in cash, there may be times when income or capital gains taxes may be payable on distributions that are reinvested. It is important to note that an automatic
        reinvestment plan does not ensure a profit, nor does it protect you against loss in a declining market.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Easy and convenient</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">To make recordkeeping easy and convenient, each month you&#8217;ll receive a statement showing your total distributions, the date of investment, the shares acquired and the price per share, and the total
        number of shares you own.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">How shares are purchased</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The shares you acquire by reinvesting will either be purchased on the open market or newly issued by the Fund. If the shares are trading at or above NAV at the time of valuation, the Fund will issue
        new shares at the greater of the NAV or 95% of the then-current market price. If the shares are trading at less than NAV, shares for your account will be purchased on the open market. If Computershare Trust Company, N.A. (the &#8220;Plan Agent&#8221;) begins
        purchasing Fund shares on the open market while shares are trading below NAV, but the Fund&#8217;s shares subsequently trade at or above their NAV before the Plan Agent is able to complete its purchases, the Plan Agent may cease open-market purchases and
        may invest the uninvested portion of the distribution in newly-issued Fund shares at a price equal to the greater of the shares&#8217; NAV or 95% of the shares&#8217; market value on the last business day immediately prior to the purchase date. Distributions
        received to purchase shares in the open market will normally be invested shortly after the distribution payment date. No interest will be paid on distributions awaiting reinvestment. Because the market price of the shares may increase before
        purchases are completed, the average purchase price per share may exceed the market price at the time of valuation, resulting in the acquisition of fewer shares than if the distribution had been paid in shares issued by the Fund. A pro rata portion
        of any applicable brokerage commissions on open market purchases will be paid by Dividend Reinvestment Plan (the &#8220;Plan&#8221;) participants. These commissions usually will be lower than those charged on individual transactions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Flexible</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">You may change your distribution option or withdraw from the Plan at any time, should your needs or situation change. You can reinvest whether your shares are registered in your name, or in the name
        of a brokerage firm, bank, or other nominee. Ask your investment advisor if his or her firm will participate on your behalf. Participants whose shares are registered in the name of one firm may not be able to transfer the shares to another firm and
        continue to participate in the Plan. The Fund reserves the right to amend or terminate the Plan at any time. Although the Fund reserves the right to amend the Plan to include a service charge payable by the participants, there is no direct service
        charge to participants in the Plan at this time.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Call today to start reinvesting distributions</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">For more information on the Nuveen Automatic Reinvestment Plan or to enroll in or withdraw from the Plan, speak with your financial professional or call us at (800) 257-8787.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">96</div>
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        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">CHANGES OCCURRING DURING THE FISCAL YEAR</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">The following information in this annual report is a summary of certain changes during the most recent fiscal year. This information may not reflect all of the changes that have
        occurred since you purchased shares of a Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">During the most recent fiscal year, there have been no changes to: (i) the Funds&#8217; investment objectives and principal investment policies that have not been approved by shareholders, (ii) the
        principal risks of the Fund, (iii) the portfolio managers of the Funds; (iv) a Fund&#8217;s charter or by-laws that would delay or prevent a change of control of the Fund that have not been approved by shareholders <font style="font-style: italic;">except


          as follows:</font></div>
      <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; font-style: italic;">Amended and Restated By-Laws</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">On October 5, 2020, after a rigorous and deliberative review, and consistent with the interests of the Nuveen California Quality Municipal Income Fund (&#8220;NAC&#8221;) and the Nuveen California AMT-Free
        Quality Municipal Income Fund (&#8220;NKX&#8221;) long-term shareholders, the Board of Trustees of each Fund adopted Amended and Restated By-Laws. On March 8, 2021 the Nuveen California Municipal Value Fund (&#8220;NCA&#8221;) (each of NAC, NKX and NCA, a &#8220;Fund&#8221; and
        collectively the &#8220;Funds&#8221;) completed a change in domicile reorganization from a Minnesota corporation to a Massachusetts business trust. In connection with the reorganization, NCA adopted the same Amended and Restated By-Laws.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Among other changes, the Amended and Restated By-Laws require compliance with certain amended deadlines and procedural and informational requirements in connection with advance notice of shareholder
        proposals or nominations, including certain information about the proponent and the proposal, or in the case of a nomination, the nominee. Any shareholder considering making a nomination or other proposal should carefully review and comply with
        those provisions of the Amended and Restated By-Laws.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Amended and Restated By-Laws also include provisions (the &#8220;Control Share By-Law&#8221;) pursuant to which, in summary, a shareholder who obtains beneficial ownership of common shares of a Fund in a
        &#8220;Control Share Acquisition&#8221; may exercise voting rights with respect to such shares only to the extent the authorization of such voting rights is approved by other shareholders of the Fund. The Control Share By-Law is primarily intended to protect
        the interests of the Fund and its long-term shareholders by limiting the risk that the Fund will become subject to undue influence by opportunistic traders pursuing short-term agendas adverse to the best interests of the Fund and its long-term
        shareholders. The Control Share By-Law does not eliminate voting rights for common shares acquired in Control Share Acquisitions, but rather entrusts the Fund&#8217;s other &#8220;non-interested&#8221; shareholders with determining whether to approve the
        authorization of the voting rights of the person acquiring such shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Subject to various conditions and exceptions, the Control Share By-Law defines a &#8220;Control Share Acquisition&#8221; to include an acquisition of common shares that, but for the Control Share By-Law, would
        give the beneficial owner, upon the acquisition of such shares, the ability to exercise voting power in the election of Trustees of a Fund in any of the following ranges:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4dfc02bdc5f54667b2c42322f172a061">

          <tr>
            <td nowrap="nowrap" style="width: 5.74%; vertical-align: top;">
              <div style="margin-left: 9pt;">(i)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.26%; vertical-align: middle;">
              <div>one-tenth or more, but less than one-fifth of all voting power;</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5.74%; vertical-align: top;">
              <div style="margin-left: 9pt;">(ii)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.26%; vertical-align: middle;">
              <div>one-fifth or more, but less than one-third of all voting power;</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5.74%; vertical-align: top;">
              <div style="margin-left: 9pt;">(iii)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.26%; vertical-align: middle;">
              <div>one-third or more, but less than a majority of all voting power; or<br>
                <br>
              </div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5.74%; vertical-align: top;">
              <div style="margin-left: 9pt;">(iv)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.26%; vertical-align: middle;">
              <div>a majority or more of all voting power.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Control Share By-Law generally excludes certain acquisitions of common shares from the definition of a Control Share Acquisition, including acquisitions of common shares that occurred prior to
        October 5, 2020, though such shares are included in assessing whether any subsequent share acquisition exceeds one of the enumerated thresholds.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Subject to certain conditions and procedural requirements set forth in the Control Share By-Law, including the delivery of a &#8220;Control Share Acquisition Statement&#8221; to the Funds&#8217; Secretary setting
        forth certain required information, a shareholder who obtains or proposes to obtain beneficial ownership of common shares in a Control Share Acquisition generally may demand a special meeting of shareholders for the purpose of considering whether
        the voting rights of such acquiring person with respect to such shares shall be authorized.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">This discussion is only a high-level summary of certain aspects of the Amended and Restated By-Laws, and is qualified in its entirety by reference to the Amended and Restated By-Laws. Shareholders
        should refer to the Amended and Restated By-Laws for more information. A copy of the Amended and Restated By-Laws can be found in the Current Report on Form 8-K filed by the Funds with the Securities and Exchange Commission on October 6, 2020,
        which is available at www.sec.gov, and may also be obtained by writing to the Secretary of the Funds at 333 West Wacker Drive, Chicago, Illinois 60606.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">97</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Shareholder Update (Unaudited) (continued)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">CERTAIN CHANGES AFTER THE FISCAL YEAR END</font><br>
        <br>
        <br>
        <font style="font-style: italic;">Fund Reorganization</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">As noted in the Notes to this annual report, the Board of Directors/Trustees (the &#8220;Board&#8221;) of Nuveen California Municipal Value Fund 2 (&#8220;NCB&#8221;) and NCA approved the reorganization of NCB (the &#8220;Target
        Fund&#8221;) into NCA (the &#8220;Acquiring Fund&#8221;) (the &#8220;Reorganization&#8221;) during August 2020. The Reorganization was approved by shareholders of the Target Fund at a special meeting on February 17, 2021, and was completed before the opening of business on
        March 8, 2021.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Upon the closing of the Reorganization, NCB transferred its assets to NCA in exchange for common shares of NCA and the assumption by NCA of the liabilities of NCB. NCB was then liquidated, dissolved
        and terminated in accordance with its Declaration of Trust. Shareholders of NCB became shareholders of NCA. Holders of common shares of NCB received newly issued common shares of NCA, the aggregate NAV of which is equal to the aggregate NAV of the
        common shares of NCB held immediately prior to the Reorganization (including for this purpose fractional Acquiring Fund shares to which shareholders would be entitled).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In conjunction with the Reorganization, shareholders of NCA approved a change of domicile reorganization from a Minnesota corporation to a Massachusetts business trust. Upon completion of the change
        of domicile, NCA removed &#8220;Inc.&#8221; from its name and became Nuveen California Municipal Value Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">98</div>
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        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Additional Fund Information<a name="AdditionalFundInformation"><!--Anchor--></a> (Unaudited)</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4bccea7c747b44eaaa2eb191107e5496">

          <tr>
            <td style="width: 16.67%; vertical-align: middle;">&#160;</td>
            <td style="width: 5.21%; vertical-align: middle;">&#160;</td>
            <td style="width: 14.59%; vertical-align: middle;">&#160;</td>
            <td style="width: 16.66%; vertical-align: middle;">&#160;</td>
            <td style="width: 19.8%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.46%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.62%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td colspan="2" style="width: 21.87%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Board of Directors/Trustees</font>&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom;">
              <div>Jack B. Evans&#160;</div>
            </td>
            <td colspan="2" style="width: 19.8%; vertical-align: bottom;">
              <div>William C. Hunter&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div>Albin F. Moschner&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div>John K. Nelson&#160;</div>
            </td>
            <td colspan="2" style="width: 27.08%; vertical-align: bottom;">
              <div>Judith M. Stockdale&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>Carole E. Stone&#160;</div>
            </td>
            <td colspan="2" style="width: 19.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>Mathew Thornton III&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>Terence J. Toth&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>Margaret L. Wolff&#160;</div>
            </td>
            <td style="width: 11.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>Robert L. Young&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="7" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Investment Adviser</font>&#160;</div>
            </td>
            <td style="width: 5.21%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Custodian</font>&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div style="text-indent: 9pt;"><font style="font-weight: bold;">Legal Counsel</font>&#160;</div>
            </td>
            <td colspan="2" style="width: 31.26%; vertical-align: bottom;">
              <div style="text-indent: 28pt;"><font style="font-weight: bold;">Independent Registered</font>&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Transfer Agent and</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 21.87%; vertical-align: bottom;">
              <div>Nuveen Fund Advisors, LLC&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom;">
              <div>State Street Bank&#160;</div>
            </td>
            <td style="width: 5.99%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Chapman and Cutler LLP&#160;</div>
            </td>
            <td style="width: 5.99%; vertical-align: bottom; text-indent: 27pt;"><font style="font-weight: bold;">Public Accounting Firm</font> <br>
            </td>
            <td style="width: 11.98%; vertical-align: bottom;">&#160;</td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Shareholder Services</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom;">
              <div>333 West Wacker Drive&#160;</div>
            </td>
            <td style="width: 5.21%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom;">
              <div>&amp; Trust Company&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div style="text-indent: 9pt;">Chicago, IL 60603&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-indent: 28pt;">KPMG LLP&#160;</div>
            </td>
            <td style="width: 11.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div>Computershare Trust&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom;">
              <div>Chicago, IL 60606&#160;</div>
            </td>
            <td style="width: 5.21%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom;">
              <div>One Lincoln Street&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td colspan="2" style="width: 31.26%; vertical-align: bottom;">
              <div style="text-indent: 28pt;">200 East Randolph Street&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div>Company, N.A.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 5.21%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom;">
              <div>Boston, MA 02111&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div style="text-indent: 28pt;">Chicago, IL 60601&#160;</div>
            </td>
            <td style="width: 11.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div>150 Royall Street&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 5.21%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div>Canton, MA 02021&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 16.67%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 5.21%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.59%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div>(800) 257-8787&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="7" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z476fcd493acb46b5a1e0e39f0265455d">

          <tr>
            <td style="width: 36.46%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">Portfolio of Investments Information</font>&#160;</div>
            </td>
            <td style="width: 16.66%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.8%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund is required to file its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its
        report on Form N-PORT. You may obtain this information on the SEC&#8217;s Website at http://www.sec.gov.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Nuveen Funds&#8217; Proxy Voting Information</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">You may obtain (i) information regarding how each fund voted proxies relating to portfolio securities held during the most recent twelve-month period ended June 30, without charge, upon request, by
        calling Nuveen toll-free at (800) 257-8787 or on Nuveen&#8217;s website at www.nuveen.com and (ii) a description of the policies and procedures that each fund used to determine how to vote proxies relating to portfolio securities without charge, upon
        request, by calling Nuveen toll free at (800) 257-8787. You may also obtain this information directly from the SEC. Visit the SEC on-line at http://www.sec.gov.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">CEO Certification Disclosure</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund&#8217;s Chief Executive Officer (CEO) has submitted to the New York Stock Exchange (NYSE) the annual CEO certification as required by Section 303A.12(a) of the NYSE Listed Company Manual. Each
        Fund has filed with the SEC the certification of its CEO and Chief Financial Officer required by Section 302 of the Sarbanes &#8211;Oxley Act.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Common Share Repurchases</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Each Fund intends to repurchase, through its open-market share repurchase program, shares of its own common stock at such times and in such amounts as is deemed advisable. During the period covered
        by this report, each Fund repurchased shares of its common stock as shown in the accompanying table. Any future repurchases will be reported to shareholders in the next annual or semi-annual report.</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z5cdb4de7fcc34838a5b56e54239f91c2">

          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NCA</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NKX</font>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-weight: bold;">NAC</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Common shares repurchased&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">0&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">FINRA BrokerCheck</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Financial Industry Regulatory Authority (FINRA) provides information regarding the disciplinary history of FINRA member firms and associated investment professionals. This information as well as
        an investor brochure describing FINRA BrokerCheck is available to the public by calling the FINRA BrokerCheck Hotline number at (800) 289-9999 or by visiting www.FINRA.org.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">99</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Glossary of Terms<a name="GlossaryofTerms"><!--Anchor--></a> Used in this Report (Unaudited)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Auction Rate Bond:</font> An auction rate bond is a security whose interest payments are adjusted periodically through an auction process, which process typically
        also serves as a means for buying and selling the bond. Auctions that fail to attract enough buyers for all the shares offered for sale are deemed to have &#8220;failed,&#8221; with current holders receiving a formula-based interest rate until the next
        scheduled auction.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Average Annual Total Return:</font> This is a commonly used method to express an investment&#8217;s performance over a particular, usually multi-year time period. It
        expresses the return that would have been necessary each year to equal the investment&#8217;s actual cumulative performance (including change in NAV or market price and reinvested dividends and capital gains distributions, if any) over the time period
        being considered.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Duration:</font> Duration is a measure of the expected period over which a bond&#8217;s principal and interest will be paid, and consequently is a measure of the
        sensitivity of a bond&#8217;s or bond fund&#8217;s value to changes when market interest rates change. Generally, the longer a bond&#8217;s or fund&#8217;s duration, the more the price of the bond or fund will change as interest rates change.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Effective Leverage:</font> Effective leverage is a fund&#8217;s effective economic leverage, and includes both regulatory leverage (see leverage) and the leverage effects
        of certain derivative investments in the fund&#8217;s portfolio. Currently, the leverage effects of Tender Option Bond (TOB) inverse floater holdings are included in effective leverage values, in addition to any regulatory leverage.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Escrowed to Maturity Bond:</font> When proceeds of a refunding issue are deposited in an escrow account for investment in an amount sufficient to pay the principal
        and interest on the issue being refunded. In some cases, though, an issuer may expressly reserve its right to exercise an early call of bonds that have been escrowed to maturity.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Gross Domestic Product (GDP):</font> The total market value of all final goods and services produced in a country/region in a given year, equal to total consumer,
        investment and government spending, plus the value of exports, minus the value of imports</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Inverse Floating Rate Securities:</font> Inverse floating rate securities, also known as inverse floaters or tender option bonds (TOBs), are created by depositing a
        municipal bond, typically with a fixed interest rate, into a special purpose trust. This trust, in turn, (a) issues floating rate certificates typically paying short-term tax-exempt interest rates to third parties in amounts equal to some fraction
        of the deposited bond&#8217;s par amount or market value, and (b) issues an inverse floating rate certificate (sometimes referred to as an &#8220;inverse floater&#8221;) to an investor (such as a Fund) interested in gaining investment exposure to a long-term
        municipal bond. The income received by the holder of the inverse floater varies inversely with the short-term rate paid to the floating rate certificates&#8217; holders, and in most circumstances the holder of the inverse floater bears substantially all
        of the underlying bond&#8217;s downside investment risk. The holder of the inverse floater typically also benefits disproportionately from any potential appreciation of the underlying bond&#8217;s value. Hence, an inverse floater essentially represents an
        investment in the underlying bond on a leveraged basis.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Leverage:</font> Leverage is created whenever a fund has investment exposure (both reward and/or risk) equivalent to more than 100% of the investment capital.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Net Asset Value (NAV) Per Share:</font> A fund&#8217;s Net Assets is equal to its total assets (securities, cash, accrued earnings and receivables) less its total
        liabilities. NAV per share is equal to the fund&#8217;s Net Assets divided by its number of shares outstanding.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Pre-Refunding:</font> Pre-Refunding, also known as advanced refundings or refinancings, is a procedure used by state and local governments to refinance municipal
        bonds to lower interest expenses. The issuer sells new bonds with a lower yield and uses the proceeds to buy U.S. Treasury securities, the interest from which is used to make payments on the higher-yielding bonds. Because of this collateral,
        pre-refunding generally raises a bond&#8217;s credit rating and thus its value.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">100</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
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          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Regulatory Leverage: </font>Regulatory leverage consists of preferred shares issued by or borrowings of a fund. Both of these are part of a fund&#8217;s capital
        structure. Regulatory leverage is subject to asset coverage limits set in the Investment Company Act of 1940.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">S&amp;P Municipal Bond California Index: </font>An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade
        California municipal bond market. Index returns assume reinvestment of distributions but do not reflect any applicable sales charges or management fees.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">S&amp;P Municipal Bond Index: </font>An unleveraged, market value-weighted index designed to measure the performance of the tax-exempt, investment-grade U.S.
        municipal bond market. Index returns assume reinvestment of distributions but do not reflect any applicable sales charges or management fees.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Total Investment Exposure: </font>Total investment exposure is a fund&#8217;s assets managed by the Adviser that are attributable to financial leverage. For these
        purposes, financial leverage includes a fund&#8217;s use of preferred stock and borrowings and investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of
        assets held by a TOB trust that has been effectively financed by the trust&#8217;s issuance of floating rate securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;">Zero Coupon Bond: </font>A zero coupon bond does not pay a regular interest coupon to its holders during the life of the bond. Income to the holder of the bond
        comes from accretion of the difference between the original purchase price of the bond at issuance and the par value of the bond at maturity and is effectively paid at maturity. The market prices of zero coupon bonds generally are more volatile
        than the market prices of bonds that pay interest periodically.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">101</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
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        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Annual Investment Management<a name="AnnualInvestmentManagemen"><!--Anchor--></a> Agreement Approval Process (Unaudited)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The Board of Directors (the &#8220;Board&#8221; and each Director, a &#8220;Board Member&#8221;) of Nuveen California Municipal Value Fund, Inc. (the &#8220;California Fund&#8221;), which was comprised entirely of Board Members who
        were not &#8220;interested persons&#8221; (as defined under the Investment Company Act of 1940 (the &#8220;1940 Act&#8221;)) (&#8220;Independent Board Members&#8221;), was responsible for determining whether to approve the California Fund&#8217;s investment management agreement (the
        &#8220;Investment Management Agreement&#8221;) between such fund and Nuveen Fund Advisors, LLC (the &#8220;Adviser&#8221;), and sub-advisory agreement (the &#8220;Sub-Advisory Agreement&#8221;) between the Adviser and Nuveen Asset Management, LLC (the &#8220;Sub-Adviser&#8221;). At a meeting
        held on May 19-21, 2020 (the &#8220;May Meeting&#8221;) at which it conducted its annual review of the advisory arrangements of the California Fund, the Board approved the renewal of the Investment Management Agreement and the Sub-Advisory Agreement for the
        California Fund (referred to collectively as the &#8220;May Advisory Agreements&#8221;). (A discussion of the Board&#8217;s approval at the May Meeting of the May Advisory Agreements is included in the California Fund&#8217;s semi-annual report for the period ended August
        31, 2020.)</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In addition, in 2020, the Board was apprised of the potential reorganization of Nuveen California Municipal Value Fund 2 into the California Fund and, in connection therewith, the potential
        change-of-domicile reorganization (the &#8220;Domicile Change Reorganization&#8221;) to convert the California Fund from a Minnesota corporation (the &#8220;Predecessor Fund&#8221;) to a Massachusetts business trust (the &#8220;Successor Fund&#8221;) to be known as Nuveen California
        Municipal Value Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">In order to permit the Adviser and the Sub-Adviser to continue to serve as investment adviser and sub-adviser, respectively, to the Successor Fund upon the closing of the Domicile Change
        Reorganization (following shareholder approval of the Domicile Change Reorganization), at a meeting held on November 16-18, 2020 (the &#8220;November Meeting&#8221;), the Board of Trustees of the Successor Fund (the &#8220;Successor Board&#8221; and each Trustee, a &#8220;Board
        Member&#8221;), which is comprised entirely of Independent Board Members, was asked to consider and approve an investment management agreement between the Adviser and the Successor Fund and a sub-advisory agreement between the Adviser and the Sub-Adviser
        on behalf of the Successor Fund (collectively, the &#8220;New Advisory Agreements&#8221;). Given that the change of domicile was not expected to reduce the level or nature of services provided and that the New Advisory Agreements would be substantially similar
        to the respective May Advisory Agreements, the factors considered and determinations made at the May Meeting in approving the Adviser and the Sub-Adviser as investment adviser and sub-adviser, respectively, to the Predecessor Fund were also
        applicable to the approval of the New Advisory Agreements for the Successor Fund. Accordingly, at the November Meeting, the Board Members of the Successor Board approved the New Advisory Agreements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Although the 1940 Act requires that approvals of a fund&#8217;s advisory arrangements be approved by the in-person vote of a majority of the independent board members of the applicable board, the May
        Meeting and the November Meeting were each held virtually through the internet in view of the health risks associated with holding an in-person meeting during the COVID-19 pandemic and governmental restrictions on gatherings. The May Meeting and
        the November Meeting were held in reliance on an order issued by the Securities and Exchange Commission on March 13, 2020, as extended on March 25, 2020, and in conjunction with the November Meeting, as further extended on June 19, 2020; such order
        provided registered investment companies temporary relief from the in-person voting requirements of the 1940 Act with respect to the approval of a fund&#8217;s advisory agreement in response to the challenges arising in connection with the COVID-19
        pandemic.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">102</div>
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        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;"><font style="font-size: 24pt;">Board Members &amp;</font><br>
        <font style="font-size: 24pt;">Officers<a name="BoardMembersOfficers"><!--Anchor--></a> (Unaudited)</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">The management of the Funds, including general supervision of the duties performed for the Funds by the Adviser, is the responsibility of the Board of Trustees of the Funds. None of the trustees who
        are not &#8220;interested&#8221; persons of the Funds (referred to herein as &#8220;independent board members&#8221;) has ever been a director or employee of, or consultant to, Nuveen or its affiliates. The names and business addresses of the trustees and officers of the
        Funds, their principal occupations and other affiliations during the past five years, the number of portfolios each Trustee oversees and other directorships they hold are set forth below.</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zd845fc825844476b883d33652cccba53">

          <tr>
            <td style="width: 20.62%; vertical-align: middle;">&#160;</td>
            <td style="width: 14.44%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
            <td style="width: 42.26%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Name,</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">Position(s) Held</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Year First</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Number</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Year of Birth</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">with the Funds</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Elected or</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Occupation(s)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">of Portfolios</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">&amp; Address</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Appointed</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Including other</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">in Fund Complex</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">and Term</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Directorships</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Overseen by</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">During Past 5 Years</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Board Member</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>Independent Board Members:&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">TERENCE J. TOTH</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Formerly, a Co-Founding Partner, Promus Capital (investment advisory&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1959&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">firm) (2008-2017); Director, Quality Control Corporation (manufacturing)&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Chair and&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2008</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">(since 2012); member: Catalyst Schools of Chicago Board (since 2008)&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class II</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">and Mather Foundation Board (philanthropy) (since 2012), and chair of&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">its Investment Committee; formerly, Director, Fulcrum IT Services LLC&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(information technology services firm to government entities) (2010-2019);&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">formerly, Director, Legal &amp; General Investment Management America, Inc.&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(asset management) (2008-2013); formerly, CEO and President, Northern&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Trust Global Investments (financial services) (2004-2007): Executive Vice&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">President, Quantitative Management &amp; Securities Lending (2000-2004);&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">prior thereto, various positions with Northern Trust Company (financial&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">services) (since 1994); formerly, Member, Northern Trust Mutual Funds&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Board (2005-2007), Northern Trust Global Investments Board (2004-2007),&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Northern Trust Japan Board (2004-2007), Northern Trust Securities Inc.&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Board (2003-2007) and Northern Trust Hong Kong Board (1997-2004).&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">JACK B. EVANS</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Chairman (since 2019), formerly, President (1996-2019), The Hall-Perrine&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1948&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">Foundation, (private philanthropic corporation); Director and Chairman&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">1999</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">(since 2009), United Fire Group, a publicly held company; formerly,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class III</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">Director, Public Member, American Board of Orthopaedic Surgery&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(2015-2020); Life Trustee of Coe College and the Iowa College Foundation;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">formerly, Member and President Pro-Tem of the Board of Regents for the&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">State of Iowa University System (2000- 2004); formerly, Director&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(2000-2004), Alliant Energy; formerly, Director (1996- 2015), The Gazette&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Company (media and publishing); formerly, Director (1998- 2003), Federal&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Reserve Bank of Chicago; formerly, President and Chief Operating Officer&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(1972-1995), SCI Financial Group, Inc., (regional financial services firm).&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">WILLIAM C. HUNTER</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Dean Emeritus, formerly, Dean, Tippie College of Business, University of&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1948&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">Iowa (2006-2012); Director of Wellmark, Inc. (since 2009); past Director&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2003</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">(2005-2015), and past President (2010-2014) Beta Gamma Sigma, Inc.,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class I</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;">The International Business Honor Society; formerly, Director (2004-2018)&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">of Xerox Corporation; Dean and Distinguished Professor of Finance,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">School of Business at the University of Connecticut (2003-2006);&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">previously, Senior Vice President and Director of Research at the Federal&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Reserve Bank of Chicago (1995-2003); formerly, Director (1997-2007),&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Credit Research Center at Georgetown University.&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">103</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Board Members &amp; Officers (Unaudited) (continued)</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z0c2dc36c028e4a9d8566f1b585a801e3">

          <tr>
            <td style="width: 18.56%; vertical-align: middle;">&#160;</td>
            <td style="width: 16.5%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
            <td style="width: 42.26%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Name,</font>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">Position(s) Held</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Year First</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Number</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Year of Birth</font>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">with the Funds</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Elected or</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Occupation(s)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">of Portfolios</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">&amp; Address</font>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Appointed</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Including other</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">in Fund Complex</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">and Term</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Directorships</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Overseen by</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">During Past 5 Years</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Board Member</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 35.06%; vertical-align: bottom;">
              <div>Independent Board Members (continued):&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">ALBIN F. MOSCHNER</font>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Founder and Chief Executive Officer, Northcroft Partners, LLC,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1952&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">(management consulting) (since 2012); formerly, Chairman (2019),&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2016</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">and Director (2012-2019), USA Technologies, Inc., (provider of&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class III</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">solutions and services to facilitate electronic payment transactions);&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>formerly, Director, Wintrust Financial Corporation (1996-2016);&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>previously, held positions at Leap Wireless International, Inc., (consumer&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>wireless services) including Consultant (2011-2012), Chief Operating&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>President, Verizon Card Services division of Verizon Communications,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Inc. (2000-2003); formerly, President, One Point Services at One Point&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Communications (telecommunication services) (1999-2000); formerly,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Vice Chairman of the Board, Diba, Incorporated (internet technology&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>provider) (1996-1997); formerly, various executive positions (1991-1996)&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>and Chief Executive Officer (1995-1996) of Zenith Electronics Corporation&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>(consumer electronics).&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">JOHN K. NELSON</font>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Member of Board of Directors of Core12 LLC. (private firm which develops&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1962&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">branding, marketing and communications strategies for clients) (since&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2013</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">2008); served on The President&#8217;s Council of Fordham University (2010-&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class II</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">2019) and previously a Director of the Curran Center for Catholic American&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Studies (2009-2018); formerly, senior external advisor to the Financial&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Services practice of Deloitte Consulting LLP. (2012-2014); former Chair of&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>the Board of Trustees of Marian University (2010-2014 as trustee, 2011-2014&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>as Chair); formerly Chief Executive Officer of ABN AMRO Bank N.V., North&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>America, and Global Head of the Financial Markets Division (2007-2008),&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>with various executive leadership roles in ABN AMRO Bank N.V. between&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>1996 and 2007.&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">JUDITH M. STOCKDALE</font>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Board Member, Land Trust Alliance (national public charity addressing&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1947&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">natural land and water conservation in the U.S.) (since 2013); formerly,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">1997</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Board Member, U.S. Endowment for Forestry and Communities&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class I</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">(national endowment addressing forest health, sustainable forest&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>production and markets, and economic health of forest-reliant communities&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>in the U.S.) (2013-2019); formerly, Executive Director (1994-2012), Gaylord&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>and Dorothy Donnelley Foundation (private foundation endowed to support&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>both natural land conservation and artistic vitality); prior thereto, Executive&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Director, Great Lakes Protection Fund (1990-1994).&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">CAROLE E. STONE</font>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Former Director, Chicago Board Options Exchange, Inc. (2006-2017); and&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1947&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">C2 Options Exchange, Incorporated (2009-2017); formerly, Director, Cboe,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2007</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Global Markets, Inc. (2010-2020) (formerly named CBOE Holdings, Inc.;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class I</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">formerly, Commissioner, New York State Commission on Public&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.56%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Authority Reform (2005-2010).&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">104</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z3d4222d9c50f4f9f8d04702dcd70cf14">

          <tr>
            <td style="width: 19.6%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.46%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
            <td style="width: 42.26%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Name,</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">Position(s) Held</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Year First</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Number</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Year of Birth</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">with the Funds</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Elected or</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Occupation(s)</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">of Portfolios</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">&amp; Address</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Appointed</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Including other</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">in Fund Complex</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">and Term</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Directorships</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Overseen by</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">During Past 5 Years</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Board Member</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 35.06%; vertical-align: bottom;">
              <div>Independent Board Members (continued):&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">MATTHEW THORNTON III</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div>Formerly, Executive Vice President and Chief Operating Officer (2018-2019),&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1958&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">FedEx Freight Corporation, a subsidiary of FedEx Corporation (&#8220;FedEx&#8221;)&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2020</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(provider of transportation, e-commerce and business services through its&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class III</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">portfolio of companies); formerly, Senior Vice President, U.S. Operations&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(2006-2018), Federal Express Corporation, a subsidiary of FedEx; formerly,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Member of the Board of Directors (2012-2018), Safe Kids Worldwide<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>(a&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">non-profit organization dedicated to preventing childhood injuries).&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Member of the Board of Directors (since 2014), The Sherwin-Williams&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Company (develops, manufactures, distributes and sells paints, coatings&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">and related products); Director (since 2020), Crown Castle International&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(provider of communications infrastructure)&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">MARGARET L. WOLFF</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Formerly, member of the Board of Directors (2013-2017) of Travelers&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1955&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Insurance Company of Canada and The Dominion of Canada General&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2016</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Insurance Company (each, a part of Travelers Canada, the Canadian&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class I</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">operation of The Travelers Companies, Inc.); formerly, Of Counsel,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Skadden, Arps, Slate, Meagher &amp; Flom LLP (legal services, Mergers &amp;&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Acquisitions Group) (2005-2014); Member of the Board of Trustees of&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">New York-Presbyterian Hospital (since 2005); Member (since 2004) and&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Chair (since 2015) of the Board of Trustees of The John A. Hartford&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Foundation (philanthropy dedicated to improving the care of older adults);&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">formerly, Member (2005-2015) and Vice Chair (2011-2015) of the Board of&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Trustees of Mt. Holyoke College.&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="5" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">ROBERT L. YOUNG</font>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Formerly, Chief Operating Officer and Director, J.P.Morgan Investment&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1963&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Management Inc. (financial services) (2010-2016); formerly, President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>Board Member&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2017</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">and Principal Executive Officer (2013-2016), and Senior Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">142</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">Class II</font>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">and Chief Operating Officer (2005-2010), of J.P.Morgan Funds; formerly,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Director and various officer positions for J.P.Morgan Investment&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Management Inc. (formerly, JPMorgan Funds Management, Inc. and&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">formerly, One Group Administrative Services) and JPMorgan Distribution&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Services, Inc. (financial services) (formerly, One Group Dealer Services,&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.26%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Inc.) (1999-2017).&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">105</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Board Members &amp; Officers (Unaudited) (continued)</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z81791c8f7f4f421d8719d59843d965bc">

          <tr>
            <td style="width: 20.62%; vertical-align: middle;">&#160;</td>
            <td style="width: 14.44%; vertical-align: middle;">&#160;</td>
            <td style="width: 11.34%; vertical-align: middle;">&#160;</td>
            <td style="width: 53.6%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Name,</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">Position(s) Held</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Year First</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Year of Birth</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">with the Funds</font>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Elected or</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Occupation(s)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">&amp; Address</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Appointed</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">During Past 5 Years</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>Officers of the Funds:&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">DAVID J. LAMB</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Managing Director of Nuveen Fund Advisors, LLC and Nuveen Securities, LLC (since 2020);&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1963&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Chief&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Managing Director (since 2017), formerly, Senior Vice President of Nuveen, LLC (since 2006),&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Administrative&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2015</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Vice President prior to 2006&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Officer&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">MARK J. CZARNIECKI</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2016) and Nuveen Fund&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1979&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Advisors (since 2017); Vice President and Associate General Counsel of Nuveen, LLC (since 2013)&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">901 Marquette Avenue&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>and Assistant&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2013</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">and Vice President, Assistant Secretary and Associate General Counsel of Nuveen Asset&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Minneapolis, MN 55402&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Secretary&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Management (since 2018).&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">DIANA R. GONZALEZ</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Vice President and Assistant Secretary of Nuveen Fund Advisors, LLC (since 2017); Vice President&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1978&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">and Associate General Counsel of Nuveen, LLC (since 2017); Associate General Counsel of Jackson&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>and Assistant&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2017</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">National Asset Management, LLC (2012-2017).&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Secretary&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">NATHANIEL T. JONES</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Managing Director (since 2017), formerly, Senior Vice President (2016-2017), formerly,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1979&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Vice President (2011-2016) of Nuveen, LLC; Managing Director (since 2015) of Nuveen Fund&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2016</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Advisors, LLC; Chartered Financial Analyst.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>and Treasurer&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">TINA M. LAZAR</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Managing Director (since 2017), formerly, Senior Vice President (2014-2017) of&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1961&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Nuveen Securities, LLC.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2002</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">BRIAN J. LOCKHART</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Managing Director (since 2019) of Nuveen Fund Advisors, LLC; Managing Director (since 2017),&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1974&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">formerly, Vice President (2010-2017) of Nuveen, LLC; Head of Investment Oversight (since 2017),&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2019</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>formerly, Team Leader of Manager Oversight (2015-2017); Chartered Financial Analyst and Certified&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Financial Risk Manager.&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">JACQUES M. LONGERSTAEY</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Senior Managing Director, Chief Risk Officer, Nuveen, LLC (since May 2019); Senior Managing&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1963&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Director (since May 2019) of Nuveen Fund Advisors, LLC; formerly, Chief Investment and Model&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">8500 Andrew Carnegie Blvd.&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2019</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Risk Officer, Wealth &amp; Investment Management Division, Wells Fargo Bank (NA) (2013-2019).&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Charlotte, NC 28262&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">KEVIN J. MCCARTHY</font>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Senior Managing Director (since 2017) and Secretary and General Counsel (since 2016) of Nuveen&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1966&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Investments, Inc., formerly, Executive Vice President (2016-2017) and Managing Director and&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>and Assistant&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2007</font>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Assistant Secretary (2008-2016); Senior Managing Director (since 2017) and Assistant Secretary&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>Secretary&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(since 2008) of Nuveen Securities, LLC, formerly Executive Vice President (2016-2017) and&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Managing Director (2008-2016); Senior Managing Director (since 2017), and Secretary (since 2016)&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>of Nuveen Fund Advisors, LLC, formerly, Co-General Counsel (2011-2020), Executive Vice President&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>(2016-2017), Managing Director (2008-2016) and Assistant Secretary (2007-2016); Senior&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Managing Director (since 2017), Secretary (since 2016) of Nuveen Asset Management, LLC,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>formerly, Associate General Counsel (2011-2020), Executive Vice President (2016-2017) and&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Managing Director and Assistant Secretary (2011- 2016); Vice President (since 2007) and Secretary&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>(since 2016), formerly, Assistant Secretary, of NWQ Investment Management Company, LLC, Santa&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Barbara Asset Management, LLC and Winslow Capital Management, LLC (since 2010). Senior&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.62%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.44%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.34%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.6%; vertical-align: bottom;">
              <div>Managing Director (since 2017) and Secretary (since 2016) of Nuveen Alternative Investments, LLC.&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">106</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z2c87951614964a54bb630b43caca7424">

          <tr>
            <td style="width: 21.43%; vertical-align: middle;">&#160;</td>
            <td style="width: 13.27%; vertical-align: middle;">&#160;</td>
            <td style="width: 12.25%; vertical-align: middle;">&#160;</td>
            <td style="width: 53.06%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Name,</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">Position(s) Held</font>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Year First</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Year of Birth</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">with the Funds</font>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Elected or</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">Occupation(s)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">&amp; Address</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Appointed</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.1pt;"><font style="font-weight: bold;">During Past 5 Years</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 34.7%; vertical-align: bottom;">
              <div>Officers of the Funds (continued)&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">JON SCOTT MEISSNER</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div>Managing Director of Mutual Fund Tax and Financial Reporting groups at Nuveen (since 2017);&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1973&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Managing Director of Nuveen Fund Advisors, LLC (since 2019); Senior Director of Teachers&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">8500 Andrew Carnegie Blvd.&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>and Assistant&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2019</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Advisors, LLC and TIAA-CREF Investment Management, LLC (since 2016); Senior Director&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Charlotte, NC 28262&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Secretary&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(since 2015) Mutual Fund Taxation to the TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Separate Account VA-1 and the CREF Accounts; has held various positions with TIAA since 2004.&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">DEANN D. MORGAN</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">President, Nuveen Fund Advisors, LLC (since 2020); Executive Vice President, Global Head of&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1969&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Product at Nuveen, LLC (since 2019); Co-Chief Executive Officer of Nuveen Securities, LLC&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">730 Third Avenue&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2020</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">since 2020); Managing Member of MDR Collaboratory LLC (since 2018); Managing Director,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">New York, NY 10017&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(Head of Wealth Management Product Structuring &amp; COO Multi Asset Investing. The Blackstone&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Group (2013-2017)&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">CHRISTOPHER M. ROHRBACHER</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Managing Director (since 2017) and Assistant Secretary of Nuveen Securities, LLC; Managing&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1971&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Director (since 2017) General Counsel (since 2020), and Assistant Secretary (since 2016),&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>and Assistant&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2008</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">formerly, Senior Vice President (2016-2017), of Nuveen Fund Advisors, LLC; Managing&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Secretary&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Director, Associate General Counsel and Assistant Secretary of Nuveen Asset Management,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">LLC (since 2020); Managing Director (since 2017), and Associate General Counsel (since 2016),&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">formerly, Senior Vice President (2012-2017) and Assistant General Counsel (2008-2016) of&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Nuveen, LLC.&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">WILLIAM A. SIFFERMANN</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Managing Director (since 2017), formerly Senior Vice President (2016-2017) and Vice President&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1975&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(2011-2016) of Nuveen, LLC.&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2017</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 6o6o6&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">E. SCOTT WICKERHAM</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Senior Managing Director, Head of Fund Administration at Nuveen, LLC (since 2019),&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1973&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">formerly, Managing Director; Senior Managing Director (since 2019) of Nuveen Fund Advisers,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">8500 Andrew Carnegie Blvd.&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>and Controller&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2019</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(LLC; Principal Financial Officer, Principal Accounting Officer and Treasurer (since 2017) of the&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Charlotte, NC 28262&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">TIAA-CREF Funds, the TIAA-CREF Life Funds, the TIAA Separate Account VA-1 and Principal&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Financial Officer, Principal Accounting Officer (since 2020) and Treasurer (since 2017) to the CREF&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Accounts; formerly, Senior Director, TIAA-CREF Fund Administration (2014-2015); has held various&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">positions with TIAA since 2006.&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">MARK L. WINGET</font>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Vice President and Assistant Secretary of Nuveen Securities, LLC (since 2008), and Nuveen&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1968&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Fund Advisors, LLC (since 2019); Vice President, Associate General Counsel and Assistant&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>and Secretary&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">2008</font>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Secretary of Nuveen Asset Management, LLC (since 2020); Vice President (since 2010) and&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 60606&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Associate General Counsel (since 2019), formerly, Assistant General Counsel (2008-2016) of&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 21.43%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.27%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.25%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.06%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">Nuveen, LLC.&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt;">107</div>
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        <div id="DSPFPageHeader" style="width: 100%;">
          <div><a href="#TableofContents">Table of Contents<br>
            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt; font-weight: bold;">Board Members &amp; Officers (Unaudited) (continued)</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zb0c275e0321446d983b85c8247edb727">

          <tr>
            <td style="width: 20.42%; vertical-align: middle;">&#160;</td>
            <td style="width: 15.3%; vertical-align: middle;">&#160;</td>
            <td style="width: 12.24%; vertical-align: middle;">&#160;</td>
            <td style="width: 52.04%; vertical-align: middle;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Name,</font>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">Position(s) Held</font>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Year First</font>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Principal</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">Year of Birth</font>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 0.3pt;"><font style="font-weight: bold;">with the Funds</font>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Elected or</font>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Occupation(s)</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom; background-color: #E5E5E5;">
              <div style="text-indent: 12pt;"><font style="font-weight: bold;">&amp; Address</font>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom; background-color: #E5E5E5;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">Appointed</font><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(2)</sup>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom; background-color: #E5E5E5;">
              <div><font style="font-weight: bold;">During Past 5 Years</font>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="2" style="width: 35.72%; vertical-align: bottom;">
              <div>Officers of the Funds (continued)&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td colspan="4" style="width: 100%; vertical-align: middle;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div><font style="font-weight: bold;">GIFFORD R. ZIMMERMAN</font>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div>Formerly: Managing Director (2002-2020) and Assistant Secretary (2002-2020) of Nuveen&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">1956&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div>Vice President&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Securities, LLC; formerly, Managing Director (2002-2020), Assistant Secretary (1997-2020) and&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">333 W. Wacker Drive&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div>and Chief&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div style="text-indent: 0.6pt;"><font style="font-weight: bold;">1988</font>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Co-General Counsel (2011- 2020) of Nuveen Fund Advisors, LLC; formerly, Managing Director&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div style="text-indent: 12pt;">Chicago, IL 60606&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div style="text-indent: 0.05pt;">Compliance Officer&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;">(2004-2020) and Assistant Secretary (1994-2020) of Nuveen Investments, Inc.; formerly,&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div>Managing Director, Assistant Secretary and Associate General Counsel of Nuveen Asset&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div>Management, LLC (2011-2020); formerly, Vice President and Assistant Secretary of NWQ&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div>Investment Management Company, LLC (2002-2020), Santa Barbara Asset Management, LLC&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20.42%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.3%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.24%; vertical-align: bottom;">
              <div>&#160;</div>
            </td>
            <td style="width: 52.04%; vertical-align: bottom;">
              <div>(2006-2020) and Winslow Capital Management, LLC (2010-2020); Chartered Financial Analyst.&#160;</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <table cellspacing="0" cellpadding="0" style="font-family: Arial; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z86414b8725a2424084e479452c528308">

          <tr>
            <td nowrap="nowrap" style="width: 5.47%; vertical-align: top;">
              <div>(1)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.53%; vertical-align: middle;">
              <div>The Board of Trustees is divided into three classes, Class I, Class II, and Class III, with each being elected to serve until the third succeeding annual shareholders&#8217; meeting subsequent to its election or thereafter in each case when
                its respective successors are duly elected or appointed, except two board members are elected by the holders of Preferred Shares, when applicable, to serve until the next annual shareholders&#8217; meeting subsequent to its election or thereafter
                in each case when its respective successors are duly elected or appointed. The year first elected or appointed represents the year in which the board member was first elected or appointed to any fund in the Nuveen complex.</div>
              <div> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td nowrap="nowrap" style="width: 5.47%; vertical-align: top;">
              <div>(2)&#160; &#160; &#160;</div>
            </td>
            <td style="width: 94.53%; vertical-align: middle;">
              <div>Officers serve indefinite terms until their successor has been duly elected and qualified, their death or their resignation or removal. The year first elected or appointed represents the year in which the Officer was first elected or
                appointed to any fund in the Nuveen complex.</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">108</div>
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          </a> </div>
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      </div>
    </div>
    <div><br>
      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Notes</div>
      <div><br>
      </div>
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            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Notes</div>
      <div><br>
      </div>
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            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt; font-weight: bold;">Notes</div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after: always;">
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            </a> </div>
          <div><a href="#TableofContents"> </a></div>
        </div>
      </div>
      <div>&#160;</div>
      <div><br>
      </div>
      <div><img src="nca-edgarx112x1.jpg"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt;">Nuveen:</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 24pt;">Serving Investors for Generations</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Since 1898, financial professionals and their clients have relied on Nuveen to provide dependable investment solutions through continued adherence to proven, long-term investing principles. Today,
        we offer a range of high quality solutions designed to be integral components of a well-diversified core portfolio.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt;">Focused on meeting investor needs.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Nuveen is the investment manager of TIAA. We have grown into one of the world&#8217;s premier global asset managers, with specialist knowledge across all major asset classes and particular strength in
        solutions that provide income for investors and that draw on our expertise in alternatives and responsible investing. Nuveen is driven not only by the independent investment processes across the firm, but also the insights, risk management,
        analytics and other tools and resources that a truly world-class platform provides. As a global asset manager, our mission is to work in partnership with our clients to create solutions which help them secure their financial future.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-size: 14pt;">Find out how we can help you.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">To learn more about how the products and services of Nuveen may be able to help you meet your financial goals, talk to your financial professional, or call us at (800) 257-8787. Please read the
        information provided carefully before you invest. Investors should consider the investment objective and policies, risk considerations, charges and expenses of any investment carefully. Where applicable, be sure to obtain a prospectus, which
        contains this and other relevant information. To obtain a prospectus, please contact your securities representative or Nuveen, <font style="font-weight: bold;">333 W. Wacker Dr., Chicago, IL 60606. </font>Please read the prospectus carefully
        before you invest or send money.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Learn more about Nuveen Funds at: <font style="font-weight: bold;">www.nuveen.com/closed-end funds</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-weight: bold;"> <br>
        </font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;">Nuveen Securities, LLC, member FINRA and SIPC | 333 West Wacker Drive Chicago, IL 60606 | www.nuveen.com</div>
      <div style="text-align: center;"><img src="nca-edgarx112x2.jpg"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; text-align: right;">EAN-A-0221D 1596439-INV-Y-04/22</div>
    </div>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <br>
  <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
    <div id="FTR"> </div>
    <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
      <div style="TEXT-ALIGN: center; WIDTH: 100%">
        <hr noshade="noshade" size="2" style="COLOR: black"> </div>
    </div>
    <div id="HDR"> </div>
  </div>
  <div style="display: block; text-indent: 0pt;">&#160;</div>
  <div style="display: block; text-indent: 0pt;">ITEM 2. CODE OF ETHICS.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div style="margin-bottom: 8pt;">As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant&#8217;s principal executive officer, principal financial officer, principal accounting officer or
      controller, or persons performing similar functions. There were no amendments to or waivers from the Code during the period covered by this report. The registrant has posted the code of ethics on its website at www.nuveen.com/fund-governance. (To
      view the code, click on Code of Conduct.)</div>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div style="margin-bottom: 8pt;">As of the end of the period covered by this report, the registrant&#8217;s Board of Directors or Trustees (&#8220;Board&#8221;) determined that the registrant has at
      least one &#8220;audit committee financial expert&#8221; (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The registrant&#8217;s audit committee financial experts are Carole E. Stone,&#160;Jack B. Evans, William C. Hunter and Albin F. Moschner, who are
      &#8220;independent&#8221; for purposes of Item 3 of Form N-CSR.</div>
    <div>Ms. Stone served for five years as Director of the New York State Division of the Budget. As part of her role as Director, Ms. Stone was actively involved in overseeing the
      development of the State&#8217;s operating, local assistance and capital budgets, its financial plan and related documents; overseeing the development of the State&#8217;s bond-related disclosure documents and certifying that they fairly presented the State&#8217;s
      financial position; reviewing audits of various State and local agencies and programs; and coordinating the State&#8217;s system of internal audit and control. Prior to serving as Director, Ms. Stone worked as a budget analyst/examiner with increasing
      levels of responsibility over a 30 year period, including approximately five years as Deputy Budget Director. Ms. Stone has also served as Chair of the New York State Racing Association Oversight Board, as Chair of the Public Authorities Control
      Board, as a Commissioner on the New York State Commission on Public Authority Reform and as a member of the Boards of Directors of several New York State public authorities. These positions have involved overseeing operations and finances of certain
      entities and assessing the adequacy of project/entity financing and financial reporting. Currently, Ms. Stone is on the Board of Directors of CBOE Holdings, Inc., of the Chicago Board Options Exchange, and of C2 Options Exchange. Ms. Stone&#8217;s position
      on the boards of these entities and as a member of both CBOE Holdings&#8217; Audit Committee and its Finance Committee has involved, among other things, the oversight of audits, audit plans and preparation of financial statements.</div>
    <div style="text-align: justify;">&#160;</div>
    <div>Mr. Evans was formerly President and Chief Operating Officer of SCI Financial Group, Inc., a full service registered broker-dealer and registered investment adviser
      (&#8220;SCI&#8221;). As part of his role as President and Chief Operating Officer, Mr. Evans actively supervised the Chief Financial Officer (the &#8220;CFO&#8221;) and actively supervised the CFO&#8217;s preparation of financial statements and other filings with various
      regulatory authorities. In such capacity, Mr. Evans was actively involved in the preparation of SCI&#8217;s financial statements and the resolution of issues raised in connection therewith. Mr. Evans has also served on the audit committee of various
      reporting companies. At such companies, Mr. Evans was involved in the oversight of audits, audit plans, and the preparation of financial statements. Mr. Evans also formerly chaired the audit committee of the Federal Reserve Bank of Chicago.</div>
    <div>&#160;</div>
    <div>
      <div>Mr. Hunter was formerly a Senior Vice President at the Federal Reserve Bank of Chicago. As part of his role as Senior Vice President, Mr. Hunter was the senior officer
        responsible for all operations of each of the Economic Research, Statistics, and Community and Consumer Affairs units at the Federal Reserve Bank of Chicago. In such capacity, Mr. Hunter oversaw the subunits of the Statistics and Community and
        Consumer Affairs divisions responsible for the analysis and evaluation of bank and bank holding company financial statements and financial filings. Prior to serving as Senior Vice President at the Federal Reserve Bank of Chicago, Mr. Hunter was the
        Vice President of the Financial Markets unit at the Federal Reserve Bank of Atlanta where he supervised financial staff and bank holding company analysts who analyzed and evaluated bank and bank holding company financial statements. Mr. Hunter also
        currently serves on the Boards of Directors of Xerox Corporation and Wellmark, Inc. as well as on the Audit Committees of such Boards. As an Audit Committee member, Mr. Hunter&#8217;s responsibilities include, among other things, reviewing financial
        statements, internal audits and internal controls over financial reporting. Mr. Hunter also formerly was a Professor of Finance at the University of Connecticut School of Business and has authored numerous scholarly articles on the topics of
        finance, accounting and economics.</div>
      <div><br>
      </div>
      <div>Mr. Moschner, Founder and Chief Executive Officer, Northcroft Partners, LLC, (management consulting) (since 2012); formerly, Chairman (2019), and Director (2012-2019),
        USA Technologies, Inc., (provider of solutions and services to facilitate electronic payment transactions); formerly, Director, Wintrust Financial Corporation (1996-2016); previously, held positions at Leap Wireless International, Inc., (consumer
        wireless services) including Consultant (2011-2012), Chief Operating Officer (2008-2011), and Chief Marketing Officer (2004-2008); formerly, President, Verizon Card Services division of Verizon Communications, Inc. (2000-2003); formerly, President,
        One Point Services at One Point Communications (telecommunication services) (1999-2000); formerly, Vice Chairman of the Board, Diba, Incorporated (internet technology provider) (1996-1997); formerly, various executive positions (1991-1996),
        including Chief Executive Officer (1995-1996) of Zenith Electronics Corporation (consumer electronics).</div>
    </div>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"> </div>
  <div style="text-align: justify; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">&#160;</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Nuveen California AMT-Free Quality Municipal Income Fund</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">The following tables show the amount of fees that KPMG LLP, the Fund&#8217;s auditor, billed to the Fund during the Fund&#8217;s last two full fiscal years. For engagements with
      KPMG LLP the Audit Committee approved in advance all audit services and non-audit services that KPMG LLP provided to the Fund, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the
      &#8220;pre-approval exception&#8221;). The pre-approval exception for services provided directly to the Fund waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided
      constitutes no more than 5% of the total amount of revenues paid by the Fund to its accountant&#160;during the fiscal year in which the services are provided; (B) the Fund did not recognize the services as non-audit services at the time of the engagement;
      and (C) the services are promptly brought to the Audit Committee&#8217;s attention, and the Committee (or its delegate) approves the services before the audit is completed.</div>
    <div style="display: block; text-indent: 0pt;"><br>
    </div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">The Audit Committee has delegated certain pre-approval responsibilities to its Chair (or, in her absence, any other member of the Audit Committee).</div>
    <div style="text-align: justify; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">&#160;</div>
  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">SERVICES THAT THE FUND&#8217;S AUDITOR BILLED TO THE FUND</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"> <br>
  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <table cellspacing="0" cellpadding="0" id="z1fe9f10e7935425b954f7118563a813a" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

        <tr>
          <td valign="bottom" style="vertical-align: top;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Audit Fees Billed</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Audit-Related Fees</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">Tax Fees</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">All Other Fees</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Fiscal Year Ended</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Billed to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Billed to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td valign="bottom" colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Billed to Fund <sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup></div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%; border-bottom: #000000 solid 2px;">
            <div>February 28, 2021</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>29,150</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>11,000</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">
            <div>Percentage approved</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div>%</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div>%</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div>%</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div>%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">
            <div>pursuant to</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">
            <div>pre-approval</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%; border-bottom: #000000 solid 2px;">
            <div>exception</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%; border-bottom: #000000 solid 2px;">
            <div>February 29, 2020</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>28,590</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">
            <div>$</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">
            <div>0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">
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          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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            <div>0</div>
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          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
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          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div>0</div>
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          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div>%</div>
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          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div>0</div>
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          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div>%</div>
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          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
            <div>0</div>
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          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">
            <div>%</div>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">
            <div>pursuant to</div>
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          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">
            <div>pre-approval</div>
          </td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%; border-bottom: #000000 solid 2px;">
            <div>exception</div>
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          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px;">&#160;</td>
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        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="16" style="vertical-align: top;">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> &#8220;Audit Fees&#8221; are the aggregate fees billed for professional services for the audit of the Fund&#8217;s annual financial statements and services provided in</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="8" style="vertical-align: top;">
            <div>connection with statutory and regulatory filings or engagements.</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="16" style="vertical-align: top;">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup> &#8220;Audit Related Fees&#8221; are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="16" style="vertical-align: top;">
            <div>financial statements that are not reported under &#8220;Audit Fees&#8221;. These fees include offerings related to the Fund&#8217;s common shares and leverage.</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="16" style="vertical-align: top;">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup> &#8220;Tax Fees&#8221; are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="16" style="vertical-align: top;">
            <div>withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculation performed by the principal accountant.</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: top; width: 52%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
          <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">&#160;</td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="16" style="vertical-align: top;">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4</sup> &#8220;All Other Fees&#8221; are the aggregate fees billed for products and services other than &#8220;Audit Fees&#8221;, &#8220;Audit-Related Fees&#8221; and &#8220;Tax Fees&#8221;. These fees</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>
        <tr>
          <td valign="bottom" colspan="16" style="vertical-align: top;">
            <div>represent all &#8220;Agreed-Upon Procedures&#8221; engagements pertaining to the Fund&#8217;s use of leverage.</div>
          </td>
          <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">SERVICES THAT THE FUND&#8217;S AUDITOR BILLED TO THE ADVISER AND AFFILIATED FUND SERVICE PROVIDERS</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">The following tables show the amount of fees billed by KPMG LLP to Nuveen Fund Advisors, LLC (formerly Nuveen Fund Advisors, Inc.) (the &#8220;Adviser&#8221;), and any entity
      controlling, controlled by or under common control with the Adviser that provides ongoing services to the Fund (&#8220;Affiliated Fund Service Provider&#8221;), for engagements directly related to the Fund&#8217;s operations and financial reporting, during the Fund&#8217;s
      last two full fiscal years.</div>
    <div style="text-align: justify; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><br>
    </div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">The tables also show the percentage of fees subject to the pre-approval exception. The pre-approval exception for services provided to the Adviser and any Affiliated
      Fund Service Provider (other than audit, review or attest services) waives the pre-approval requirement if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid to KPMG LLP by the
      Fund, the Adviser and Affiliated Fund Service Providers during the fiscal year in which the services are provided that would have to be pre-approved by the Audit Committee; (B) the Fund did not recognize the services as non-audit services at the time
      of the engagement; and (C) the services are promptly brought to the Audit Committee&#8217;s attention, and the Committee (or its delegate) approves the services before the Fund&#8217;s audit is completed.</div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"> <br>
    </div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
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          <tr>
            <td style="width: 40%; vertical-align: top;">&#160;</td>
            <td style="width: 19.92%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">Audit-Related Fees</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">Tax Fees Billed to</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">All Other Fees</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">&#160;</td>
            <td style="width: 19.92%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">Billed to Adviser and</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">Adviser and</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">Billed to Adviser</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">&#160;</td>
            <td style="width: 19.92%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">Affiliated Fund</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">Affiliated Fund</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right; font-weight: bold;">and Affiliated Fund</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">
              <div style="font-weight: bold;">Fiscal Year Ended</div>
            </td>
            <td style="width: 19.92%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Service Providers</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Service Providers</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; font-weight: bold;">Service Providers</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>February 28, 2021</div>
            </td>
            <td style="width: 19.92%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">&#160;</td>
            <td style="width: 19.92%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">
              <div>Percentage approved</div>
            </td>
            <td style="width: 19.92%; vertical-align: top;">
              <div style="text-align: right;">0%</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right;">0%</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right;">0%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">
              <div>pursuant to</div>
            </td>
            <td style="width: 19.92%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">
              <div>pre-approval</div>
            </td>
            <td style="width: 19.92%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>exception</div>
            </td>
            <td style="width: 19.92%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>February 29, 2020</div>
            </td>
            <td style="width: 19.92%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">&#160;</td>
            <td style="width: 19.92%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">
              <div>Percentage approved</div>
            </td>
            <td style="width: 19.92%; vertical-align: top;">
              <div style="text-align: right;">0%</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right;">0%</div>
            </td>
            <td style="width: 20%; vertical-align: top;">
              <div style="text-align: right;">0%</div>
            </td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">
              <div>pursuant to</div>
            </td>
            <td style="width: 19.92%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top;">
              <div>pre-approval</div>
            </td>
            <td style="width: 19.92%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
            <td style="width: 20%; vertical-align: top;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>exception</div>
            </td>
            <td style="width: 19.92%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
    </div>
  </div>
  <div>&#160;</div>
  <div style="text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">NON-AUDIT SERVICES</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><font style="display: inline;">The following table shows the amount of fees that KPMG LLP billed during the Fund&#8217;s last two full fiscal years for non-audit services. The
      Audit Committee is required to pre-approve non- audit services that KPMG LLP provides to the Adviser and any Affiliated Fund Services Provider, if the engagement related directly to the Fund&#8217;s operations and financial reporting (except for those
      subject to the pre-approval exception described above). The Audit Committee requested and received information from KPMG LLP about any non-audit services that KPMG LLP rendered during the Fund&#8217;s last fiscal year to the Adviser and any Affiliated Fund
      Service Provider. The Committee considered this information in evaluating KPMG LLP&#8217;s independence.</font></div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><br>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z22d384d095344862b3eccc21cc1a94b3">

        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">Total Non-Audit Fees</div>
          </td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">billed to Adviser and</div>
          </td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">Affiliated Fund Service</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">Total Non-Audit Fees</div>
          </td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">Providers (engagements</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">billed to Adviser and</div>
          </td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">related directly to the</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">Affiliated Fund Service</div>
          </td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">Total Non-Audit Fees</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">operations and financial</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right; font-weight: bold;">Providers (all other</div>
          </td>
          <td style="width: 20%; vertical-align: top; text-align: right;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Fiscal Year Ended</div>
          </td>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">Billed to Fund</div>
          </td>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">reporting of the Fund)</div>
          </td>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">engagements)</div>
          </td>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: right; font-weight: bold;">Total</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>February 28, 2021</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>February 29, 2020</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
          <td style="width: 20%; vertical-align: top;">
            <div style="text-align: right;">&#160;$&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; 0</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: top;">
            <div>&#8220;Non-Audit Fees billed to Fund&#8221; for both fiscal year ends represent &#8220;Tax Fees&#8221; and &#8220;All Other Fees&#8221; billed to Fund in their respective</div>
          </td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top;">
            <div>amounts from the previous table.</div>
          </td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: top;">
            <div>Less than 50 percent of the hours expended on the principal accountant&#8217;s engagement to audit the registrant&#8217;s financial statements for the most recent</div>
          </td>
        </tr>
        <tr>
          <td colspan="5" style="vertical-align: top;">
            <div>fiscal year were attributed to work performed by persons other than the principal accountant&#8217;s full-time, permanent employees.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><font style="display: inline;"> <br>
    </font></div>
  <div>Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Fund by the Fund&#8217;s independent accountants and (ii) all audit and non-audit services to be performed
    by the Fund&#8217;s independent accountants for the Affiliated Fund Service Providers with respect to operations and financial reporting of the Fund. Regarding tax and research projects conducted by the independent accountants for the Fund and Affiliated
    Fund Service Providers (with respect to operations and financial reports of the Fund) such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee
    chair for her verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under
    $5,000.</div>
  <div><br>
  </div>
  <div>ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.</div>
  <div style="text-align: justify;">&#160;</div>
  <div style="margin-bottom: 8pt;">The registrant&#8217;s Board has a separately designated Audit Committee established in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934, as amended (15 U.S.C. 78c(a)(58)(A)). As of the end of the
    period covered by this report the members of the audit committee are&#160;Jack B. Evans, William C. Hunter, John K. Nelson, Judith M. Stockdale and Carole E. Stone, Chair.</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 6. SCHEDULE OF INVESTMENTS.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 36pt; display: block; margin-right: 0pt; text-indent: 0pt;">a) See Portfolio of Investments in Item 1.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 36pt; display: block; margin-right: 0pt; text-indent: 0pt;">b) Not applicable.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div>ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</div>
    <div><br>
    </div>
    <div>Nuveen Fund Advisors, LLC is the registrant&#8217;s investment adviser (referred to herein as the &#8220;Adviser&#8221;). The Adviser is responsible for the on-going monitoring of the Fund&#8217;s investment portfolio, managing the Fund&#8217;s business affairs and providing
      certain clerical, bookkeeping and administrative services.&#160;The Adviser has engaged Nuveen Asset Management, LLC (&#8220;Sub-Adviser&#8221;) as Sub-Adviser to provide discretionary investment advisory services.&#160;As part of these services, the Adviser has delegated
      to the Sub-Adviser the full responsibility for proxy voting on securities held in the registrant&#8217;s portfolio and related duties in accordance with the Sub-Adviser&#8217;s policies and procedures.&#160;The Adviser periodically monitors the Sub-Adviser&#8217;s voting
      to ensure that it is carrying out its duties.&#160;The Sub-Adviser&#8217;s proxy voting policies and procedures are attached to this filing as an exhibit and incorporated herein by reference.</div>
    <div style="text-align: justify;">&#160;</div>
  </div>
  <div>ITEM 8.&#160; PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</div>
  <div><br>
  </div>
  <div>Nuveen Fund Advisors, LLC is the registrant&#8217;s investment adviser (also referred to as the &#8220;Adviser&#8221;).&#160; The Adviser is responsible for the selection and on-going monitoring of the Fund&#8217;s investment portfolio, managing the Fund&#8217;s business affairs and
    providing certain clerical, bookkeeping and administrative services.&#160; The Adviser has engaged Nuveen Asset Management, LLC (&#8220;Nuveen Asset Management&#8221; or &#8220;Sub-Adviser&#8221;) as Sub-Adviser to provide discretionary investment advisory services. The following
    section provides information on the portfolio manager at the Sub-Adviser:</div>
  <div><br>
  </div>
  <div>Item 8(a)(1). PORTFOLIO MANAGER BIOGRAPHY</div>
  <div><br>
  </div>
  <div>As of the date of filing this report, the following individual at the Sub-Adviser (the &#8220;Portfolio Manager&#8221;) has primary responsibility for the day-to-day implementation of the Fund&#8217;s investment strategy:</div>
  <div><br>
  </div>
  <div>Scott R. Romans, PhD, Managing Director of Nuveen Asset Management, joined Nuveen Investments in 2000 as a senior analyst in the education sector. In 2003, he was assigned management responsibility for several closed- and open-ended municipal bond
    funds.&#160; He is responsible for managing several state-specific, tax-exempt portfolios.&#160; He holds an undergraduate degree from the University of Pennsylvania and an MA and PhD from the University of Chicago.</div>
  <div>&#160;</div>
  <div>Item 8(a)(2). OTHER ACCOUNTS MANAGED BY THE PORTFOLIO MANAGER</div>
  <div><br>
  </div>
  <div>In addition to managing the Fund, as of February 28, 2021, the Portfolio Manager is also primarily responsible for the day-to-day portfolio management of the following accounts:</div>
  <div>&#160;</div>
  <table cellspacing="0" cellpadding="0" id="za39694f4491b4e5abeedb474219bcf22" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="font-weight: bold;">Portfolio Manager&#160; <br>
          </div>
        </td>
        <td style="width: 40%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="font-weight: bold;">Type&#160;of&#160;Account<br>
            Managed</div>
        </td>
        <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="font-weight: bold;">Number&#160;of<br>
            Accounts <br>
          </div>
        </td>
        <td style="width: 20%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
          <div style="font-weight: bold;">Assets* <br>
          </div>
        </td>
      </tr>
      <tr>
        <td style="width: 20%; vertical-align: top;">
          <div>Scott R. Romans</div>
        </td>
        <td style="width: 40%; vertical-align: bottom;">
          <div>Registered Investment Company</div>
        </td>
        <td style="width: 20%; vertical-align: bottom;">
          <div>12</div>
        </td>
        <td style="width: 20%; vertical-align: bottom;">
          <div>$14.43 billion</div>
        </td>
      </tr>
      <tr>
        <td style="width: 20%; vertical-align: top;">
          <div>&#160;</div>
        </td>
        <td style="width: 40%; vertical-align: bottom;">
          <div>Other Pooled Investment Vehicles</div>
        </td>
        <td style="width: 20%; vertical-align: bottom;">
          <div>0</div>
        </td>
        <td style="width: 20%; vertical-align: bottom;">
          <div>$0</div>
        </td>
      </tr>
      <tr>
        <td style="width: 20%; vertical-align: top;">
          <div>&#160;</div>
        </td>
        <td style="width: 40%; vertical-align: bottom;">
          <div>Other Accounts</div>
        </td>
        <td style="width: 20%; vertical-align: bottom;">
          <div>3</div>
        </td>
        <td style="width: 20%; vertical-align: bottom;">
          <div>$3.30 million</div>
        </td>
      </tr>

  </table>
  <table cellspacing="0" cellpadding="0" id="zbbb3a86fb9ec4e4bbaf9bbcf457e862b" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

      <tr>
        <td style="width: -0.05pt;"><br>
        </td>
        <td style="width: 12.25pt; vertical-align: top; align: right;">*</td>
        <td style="width: auto; vertical-align: top;">
          <div>Assets are as of February 28, 2021.&#160; None of the assets in these accounts are subject to an advisory fee based on performance.</div>
        </td>
      </tr>

  </table>
  <div><br>
  </div>
  <div>POTENTIAL MATERIAL CONFLICTS OF INTEREST</div>
  <div style="margin-top: 4.5pt;">Actual or apparent conflicts of interest may arise when a portfolio manager has day-to-day management responsibilities with respect to more than one account. More specifically, portfolio managers who manage multiple
    accounts are presented a number of potential conflicts, including, among others, those discussed below.</div>
  <div style="margin-top: 4.5pt;">The management of multiple accounts may result in a portfolio manager devoting unequal time and attention to the management of each account. Nuveen Asset Management seeks to manage such competing interests for the time and
    attention of portfolio managers by having portfolio managers focus on a particular investment discipline. Most accounts managed by a portfolio manager in a particular investment strategy are managed using the same investment models.</div>
  <div style="margin-top: 4.5pt;">If a portfolio manager identifies a limited investment opportunity which may be suitable for more than one account, an account may not be able to take full advantage of that opportunity due to an allocation of filled
    purchase or sale orders across all eligible accounts. To deal with these situations, Nuveen Asset Management has adopted procedures for allocating limited opportunities across multiple accounts.</div>
  <div style="margin-top: 4.5pt;">With respect to many of its clients&#8217; accounts, Nuveen Asset Management determines which broker to use to execute transaction orders, consistent with its duty to seek best execution of the transaction. However, with respect
    to certain other accounts, Nuveen Asset Management may be limited by the client with respect to the selection of brokers or may be instructed to direct trades through a particular broker. In these cases, Nuveen Asset Management may place separate,
    non-simultaneous, transactions for a Fund and other accounts which may temporarily affect the market price of the security or the execution of the transaction, or both, to the detriment of the Fund or the other accounts.</div>
  <div style="margin-top: 4.5pt;">Some clients are subject to different regulations. As a consequence of this difference in regulatory requirements, some clients may not be permitted to engage in all the investment techniques or transactions or to engage
    in these transactions to the same extent as the other accounts managed by the portfolio manager. Finally, the appearance of a conflict of interest may arise where Nuveen Asset Management has an incentive, such as a performance-based management fee,
    which relates to the management of some accounts, with respect to which a portfolio manager has day-to-day management responsibilities.</div>
  <div style="margin-top: 4.5pt;">Conflicts of interest may also arise when the Sub-Adviser invests one or more of its client accounts in different or multiple parts of the same issuer&#8217;s capital structure, including investments in public versus private
    securities, debt versus equity, or senior versus junior/subordinated debt, or otherwise where there are different or inconsistent rights or benefits. Decisions or actions such as investing, trading, proxy voting, exercising, waiving or amending rights
    or covenants, workout activity, or serving on a board, committee or other involvement in governance may result in conflicts of interest between clients holding different securities or investments. Generally, individual portfolio managers will seek to
    act in a manner that they believe serves the best interest of the accounts they manage. In cases where a portfolio manager or team faces a conflict among its client accounts, it will seek to act in a manner that it believes best reflects its overall
    fiduciary duty, which may result in relative advantages or disadvantages for particular accounts.</div>
  <div style="margin-top: 4.5pt;">Nuveen Asset Management has adopted certain compliance procedures which are designed to address these types of conflicts common among investment managers. However, there is no guarantee that such procedures will detect
    each and every situation in which a conflict arises.</div>
  <div><br>
  </div>
  <div>
    <div>Item 8(a)(3). FUND MANAGER COMPENSATION</div>
  </div>
  <div><br>
  </div>
  <div>As of the most recently completed fiscal year end, the primary portfolio manager&#8217;s compensation is as follows:</div>
  <div style="margin-top: 4.5pt;">Portfolio managers are compensated through a combination of base salary and variable components consisting of (i) a cash bonus; (ii) a long-term performance award; and (iii) participation in a profits interest plan.</div>
  <div style="margin-top: 4.5pt;"><font style="font-style: italic;">Base salary</font>. A portfolio manager&#8217;s base salary is determined based upon an analysis of the portfolio manager&#8217;s general performance, experience and market levels of base pay for such
    position.</div>
  <div style="margin-top: 4.5pt;"><font style="font-style: italic;">Cash bonus</font>. A portfolio manager is eligible to receive an annual cash bonus that is based on three variables: risk-adjusted investment performance relative to benchmark generally
    measured over the most recent one, three and five year periods (unless the portfolio manager&#8217;s tenure is shorter), ranking versus Morningstar peer funds generally measured over the most recent one, three and five year periods (unless the portfolio
    manager&#8217;s tenure is shorter), and management and peer reviews.</div>
  <div style="margin-top: 4.5pt;"><font style="font-style: italic;">Long-term performance award</font>. A portfolio manager is eligible to receive a long-term performance award that vests after three years. The amount of the award when granted is based on
    the same factors used in determining the cash bonus. The value of the award at the completion of the three-year vesting period is adjusted based on the risk-adjusted investment performance of Fund(s) managed by the portfolio manager during the vesting
    period and the performance of the TIAA organization as a whole.</div>
  <div style="margin-top: 4.5pt;"><font style="font-style: italic;">Profits interest plan</font>. Portfolio managers are eligible to receive profits interests in Nuveen Asset Management and its affiliate, Teachers Advisors, LLC, which vest over time and
    entitle their holders to a percentage of the firms&#8217; annual profits. Profits interests are allocated to each portfolio manager based on such person&#8217;s overall contribution to the firms.</div>
  <div style="margin-top: 4.5pt;">There are generally no differences between the methods used to determine compensation with respect to the Fund and the Other Accounts shown in the table above.</div>
  <div><br>
  </div>
  <div>Item 8(a)(4). OWNERSHIP OF NKX SECURITIES AS OF FEBRUARY 28, 2021</div>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" id="z46a5d9104b904b029c2a69414e8f7b82" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 22.59%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">Name of Portfolio Manager</div>
        </td>
        <td style="width: 11.06%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">None</div>
        </td>
        <td style="width: 11.06%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">$1 - $10,000</div>
        </td>
        <td style="width: 11.06%; vertical-align: bottom; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">$10,001-$50,000</div>
        </td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">$50,001-$100,000</div>
        </td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">$100,001-$500,000</div>
        </td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">$500,001-$1,000,000</div>
        </td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="font-weight: bold;">Over $1,000,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 22.59%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div style="text-indent: -12pt; margin-left: 12pt;">&#160;Scott R. Romans</div>
        </td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
          <div>X</div>
        </td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
        <td style="width: 11.06%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">&#160;</td>
      </tr>

  </table>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Not applicable.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant&#8217;s Board implemented after the registrant last
    provided disclosure in response to this Item.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 11. CONTROLS AND PROCEDURES.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="hangingindent" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%">

        <tr valign="top">
          <td style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">(a)</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: left;">The registrant&#8217;s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant&#8217;s disclosure controls and procedures
              (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by
              this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange
              Act&#8221;) (17 CFR 240.13a-15(b) or 240.15d-15(b)).</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="hangingindent" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%">

        <tr valign="top">
          <td style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">(b)</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: left;">There were no changes in the registrant&#8217;s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the
              period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Not applicable.</div>
  <div>&#160;</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">ITEM 13. EXHIBITS.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">File the exhibits listed below as part of this Form.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="hangingindent" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%">

        <tr valign="top">
          <td style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">(a)(1)</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: left;">
              <div style="font-family: 'Times New Roman';">Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an
                exhibit: Not applicable because the code is posted on registrant&#8217;s website at www.nuveen.com/fund-governance and there were no amendments during the period covered by this report. (To view the code, click on&#160;Code of Conduct.)</div>
            </div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="hangingindent" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%">

        <tr valign="top">
          <td style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;"><a href="ex99cert.htm">(a)(2)</a></div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: left;"><a href="ex99cert.htm">A separate certification for each principal executive officer and
                principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)) in the exact form set forth below: Ex-99.CERT Attached hereto.</a></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="hangingindent" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%">

        <tr valign="top">
          <td style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">(a)(3)</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: left;">Any written solicitation to purchase securities under Rule 23c-1 under the 1940 Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the
              registrant to 10 or more persons. Not applicable.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt">
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="hangingindent" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%">

        <tr valign="top">
          <td style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">(a)(4)</div>
          </td>
          <td>
            <div style="font-family: 'Times New Roman'; text-align: left; line-height: 1.25;">Change in the registrant&#8217;s independent public accountant. Not applicable.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
  <div>
    <table cellspacing="0" cellpadding="0" border="0" align="center" id="hangingindent" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%">

        <tr valign="top">
          <td style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;"><a href="ex99906cert.htm">(b)</a></div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: left;"><a href="ex99906cert.htm">If the report is filed under Section 13(a) or 15(d) of the
                Exchange Act, provide the certifications required by Rule 30a-2(b) under the 1940 Act (17 CFR 270.30a-2(b)); Rule 13a-14(b) or Rule 15d-14(b) under the Exchange Act (17 CFR 240.13a-14(b) or 240.15d-14(b)), and Section 1350 of Chapter 63 of
                Title 18 of the United States Code (18 U.S.C. 1350) as an exhibit. A certification furnished pursuant to this paragraph will not be deemed &#8220;filed&#8221; for purposes of Section 18 of the Exchange Act (15 U.S.C. 78r), or otherwise subject to the
                liability of that section. Such certification will not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Exchange Act, except to the extent that the registrant specifically incorporates it by
                reference. Ex-99.906 CERT attached hereto.</a></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <br>
  <div id="PGBRK" style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">
    <div id="FTR"> </div>
    <div id="PN" style="PAGE-BREAK-AFTER: always; WIDTH: 100%">
      <div style="TEXT-ALIGN: center; WIDTH: 100%">
        <hr noshade="noshade" size="2" style="COLOR: black"> </div>
    </div>
    <div id="HDR"> </div>
  </div>
  <br>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">SIGNATURES</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its
    behalf by the undersigned, thereunto duly authorized.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(Registrant) <font style="TEXT-DECORATION: underline; DISPLAY: inline">Nuveen California AMT-Free Quality Municipal Income Fund</font></div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">By (Signature and Title)&#160;<font style="font-variant: normal; font-weight: normal; font-style: normal;"><u><font style="display: inline;">/s/ </font></u></font><font style="font-variant: normal; font-weight: normal; font-style: normal;"><u><font style="display: inline;">Mark L. Winget</font></u></font></div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Mark L. Winget</div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Vice President and Secretary</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date: <font style="TEXT-DECORATION: underline; DISPLAY: inline">May 6, 2021</font></div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on
    behalf of the registrant and in the capacities and on the dates indicated.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ David J. Lamb</font></div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">David J. Lamb</div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Chief Administrative Officer</div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(principal executive officer)</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date: <font style="TEXT-DECORATION: underline; DISPLAY: inline">May 6, 2021</font></div>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">&#160;</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">By (Signature and Title) <font style="TEXT-DECORATION: underline; DISPLAY: inline">/s/ E. Scott Wickerham</font></div>
  <div style="margin-left: 0pt; display: block; line-height: 1.25; margin-right: 0pt; text-indent: 0pt;">E. Scott Wickerham</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Vice President and Controller</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(principal financial officer)</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date: <font style="TEXT-DECORATION: underline; DISPLAY: inline">May 6, 2021</font></div>
    <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">&#160;</div>
  </div>
  <div>&#160;</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;"><br>
  </div>
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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>ex99cert.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
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  <br>
  <div style="font-weight: bold; text-align: right; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Exhibit 99.CERT</div>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">CERTIFICATION</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">I, David J. Lamb, certify that:</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">1.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">I have reviewed this report on Form N-CSR of Nuveen California AMT-Free Quality Municipal Income Fund;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">2.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
              necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">3.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
              all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods
              presented in this report;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">4.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and
              procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(a)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
              supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(b)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">designed such internal control over financial reporting, or caused such internal control over financial reporting to be
              designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(c)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our
              conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(d)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during
              the&#160;period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">5.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the
              registrant&#8217;s board of directors (or persons performing the equivalent functions):</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(a)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
              which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize, and report financial information; and</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(b)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">any fraud, whether or not material, that involves management or other employees who have a significant role in the
              registrant&#8217;s internal control over financial reporting.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date: May 6, 2021</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">&#160;</div>
  <div style="margin-left: 0pt; text-decoration: underline; display: block; margin-right: 0pt; text-indent: 0pt;">/s/ David J. Lamb</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">David J. Lamb</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Chief Administrative Officer</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(principal executive officer)</div>
  <br>
  <div style="MARGIN-LEFT: 0pt; WIDTH: 100%; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" id="PGBRK">
    <div id="FTR"> </div>
    <div style="PAGE-BREAK-AFTER: always; WIDTH: 100%" id="PN">
      <div style="TEXT-ALIGN: center; WIDTH: 100%">
        <hr noshade="noshade" size="2" style="COLOR: black"> </div>
    </div>
    <div id="HDR"> </div>
  </div>
  <br>
  <div style="font-weight: bold; text-align: center; margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">CERTIFICATION</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">I, E. Scott Wickerham, certify that:</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">1.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">I have reviewed this report on Form N-CSR of Nuveen California AMT-Free Quality Municipal Income Fund;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">2.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
              necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">3.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
              all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods
              presented in this report;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">4.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and
              procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(a)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our
              supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(b)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">designed such internal control over financial reporting, or caused such internal control over financial reporting to be
              designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(c)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our
              conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(d)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the
              period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">5.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the
              registrant&#8217;s board of directors (or persons performing the equivalent functions):</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(a)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting
              which are reasonably likely to adversely affect the registrant&#8217;s ability to record, process, summarize, and report financial information; and</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 54pt">
            <div style="font-family: Times New Roman; display: inline;">(b)&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">any fraud, whether or not material, that involves management or other employees who have a significant role in the
              registrant&#8217;s internal control over financial reporting.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date: May 6, 2021</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">&#160;</div>
  <div style="margin-left: 0pt; text-decoration: underline; display: block; margin-right: 0pt; text-indent: 0pt;">/s/ E. Scott Wickerham</div>
  <div style="margin-left: 0pt; display: block; line-height: 1.25; margin-right: 0pt; text-indent: 0pt;">E. Scott Wickerham</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Vice President and Controller</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(principal financial officer)</div>
  <br>
  <br>
</body>
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<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>ex99906cert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<html>
  <head>
    <title></title>
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  <div style="FONT-WEIGHT: bold; TEXT-ALIGN: right; DISPLAY: block; TEXT-INDENT: 0pt">Exhibit 99.906CERT</div>
  <div style="TEXT-ALIGN: right; DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Certification Pursuant to 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002; provided by the Chief Executive Officer
    and Chief Financial Officer, based on each such officer&#8217;s knowledge and belief.</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">The undersigned officers of Nuveen California AMT-Free Quality Municipal Income Fund (the &#8220;Fund&#8221;) certify that, to the best of each such officer&#8217;s
    knowledge and belief:</div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">1.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">The Form N-CSR of the Fund for the period ended February 28, 2021 (the&#160;&#8220;Report&#8221;) fully complies with the requirements of
              Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="FONT-SIZE: 10pt; FONT-FAMILY: 'arial narrow'; WIDTH: 100%" id="list">

        <tr valign="top">
          <td align="right" style="WIDTH: 36pt">
            <div style="font-family: Times New Roman; display: inline;">2.&#160;&#160;</div>
          </td>
          <td>
            <div style="font-family: Times New Roman; text-align: justify; margin-left: 0pt; margin-right: 0pt; text-indent: 0pt;">The information contained in the Report fairly presents, in all material respects, the financial condition and results of
              operations of the Fund.</div>
          </td>
        </tr>

    </table>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>
  </div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Date: May 6, 2021</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">&#160;</div>
  <div style="margin-left: 0pt; text-decoration: underline; display: block; margin-right: 0pt; text-indent: 0pt;">/s/ David J. Lamb</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">David J. Lamb</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Chief Administrative Officer</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(principal executive officer)</div>
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  <div style="margin-left: 0pt; text-decoration: underline; display: block; margin-right: 0pt; text-indent: 0pt;">/s/ E. Scott Wickerham</div>
  <div style="margin-left: 0pt; display: block; line-height: 1.25; margin-right: 0pt; text-indent: 0pt;">E. Scott Wickerham</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">Vice President, Controller</div>
  <div style="margin-left: 0pt; display: block; margin-right: 0pt; text-indent: 0pt;">(principal financial officer)</div>
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<DOCUMENT>
<TYPE>EX-99.CODE ETH
<SEQUENCE>4
<FILENAME>ex99codeofethics.htm
<DESCRIPTION>CODE OF ETHICS
<TEXT>
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                    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">Nuveen Asset Management, LLC</div>
                    <div style="margin: 12pt 0px 0px; font-weight: bold; text-align: center;">Proxy Voting Policies and Procedures</div>
                    <div style="margin: 0px 0px; font-weight: bold; text-align: center;"> Effective Date: January 1, 2011, as last amended March 05, 2020
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                    <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">I. General Principles</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">A. </font>Nuveen Asset Management, LLC (&#8220;<u>N</u><u>AM</u>&#8221;) is an investment sub-adviser for certain of the Nuveen Funds
                      (the &#8220;<u>Funds</u>&#8221;) and investment adviser for institutional and other separately managed accounts (collectively, with the Funds, &#8220;<u>Accounts</u>&#8221;). As such, Accounts may confer upon NAM complete discretion to vote proxies.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">B. </font>When NAM has proxy voting authority, it is NAM&#8217;s duty to vote proxies in the best interests of its clients (which
                      may involve affirmatively deciding that voting the proxies may not be in the best interests of certain clients on certain matters). In voting proxies, NAM also seeks to enhance total investment return for its clients.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">C. </font>If NAM contracts with another investment adviser to act as a sub-adviser for an Account, NAM may delegate proxy
                      voting responsibility to the sub-adviser. Where NAM has delegated proxy voting responsibility, the sub-adviser will be responsible for developing and adhering to its own proxy voting policies, subject to oversight by NAM.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">D. </font>NAM&#8217;s Proxy Voting Committee (&#8220;<u>PVC</u>&#8221;) provides oversight of NAM&#8217;s proxy voting policies and procedures,
                      including (1) providing an administrative framework to facilitate and monitor the exercise of such proxy voting and to fulfill the obligations of reporting and recordkeeping under the federal securities laws; and (2) approving the
                      proxy voting policies and procedures.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">II. Policies</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">The PVC after reviewing and concluding that such policies are reasonably designed to vote proxies in the best interests of clients, has approved and adopted the proxy voting policies
                      (&#8220;<u>Policies</u>&#8221;) of Institutional Shareholder Services, Inc. (&#8220;<u>ISS</u>&#8221;), a leading national provider of proxy voting administrative and research services.<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">i </sup>As a result, such Policies set forth NAM&#8217;s positions on recurring proxy issues and criteria for addressing non-recurring issues. These Policies are reviewed periodically by ISS, and therefore are subject to
                      change. Even though it has adopted the Policies as drafted by ISS, NAM maintains the fiduciary responsibility for all proxy voting decisions.</div>
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                            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-family: 'Times New Roman';">1</font><font style="font-family: 'Times New Roman';">&#160; &#160; &#160;</font></sup></div>
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                            <div><font style="font-family: 'Times New Roman';">NAM does not vote proxies where a client withholds proxy voting authority, and in certain non-discretionary and model programs NAM votes proxies in accordance with its Policies
                                in effect from time to time. Clients may opt to vote proxies themselves, or to have proxies voted by an independent third party or other named fiduciary or agent, at the client&#8217;s cost. </font><font style="font-family: 'Times New Roman';"><sup style="font-family: Calibri, sans-serif; vertical-align: text-top; line-height: 1; font-size: smaller;">i </sup>ISS has separate polices for Taft Hartley plans and it is</font><font style="font-family: 'Times New Roman';"> NAM&#8217;s policy to apply the Taft Hartley polices to accounts that are Taft Hartley plans and have requested the application of such policies.</font></div>
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                    </table>
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                      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">1</font></div>
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                    <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">III. Procedures</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">A. Supervision of Proxy Voting. </font>Day-to-day administration of proxy voting may be provided internally or by a
                      third-party service provider, depending on client type, subject to the ultimate oversight of the PVC. The PVC shall supervise the relationships with NAM&#8217;s proxy voting services, ISS. ISS apprises Nuveen Global Operations (&#8220;<u>NGO</u>&#8221;)


                      of shareholder meeting dates, and casts the actual proxy votes. ISS also provides research on proxy proposals and voting recommendations. ISS serves as NAM&#8217;s proxy voting record keepers and generate reports on how proxies were voted.
                      NGO periodically reviews communications from ISS to determine whether ISS voted the correct amount of proxies, whether the votes were cast in a timely manner, and whether the vote was in accordance with the Policies or NAM&#8217;s specific
                      instructions</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic; font-weight: bold; text-indent: 9pt;">&#160;B. General Avoidance of Conflicts of Interest.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 45pt; text-indent: -18pt;">1.&#160;&#160;&#160; NAM believe that most conflicts of interest faced by NAM in voting proxies can be avoided by voting in accordance with the Policies.
                      Examples of such conflicts of interest are as follows:<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 63pt;">a.&#160;&#160;&#160; The issuer or proxy proponent (e.g., a special interest group) is TIAA-CREF, the ultimate principal owner of NAM, or any of its affiliates.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 63pt;">b.&#160;&#160;&#160; The issuer is an entity in which an executive officer of NAM or a spouse or domestic partner of any such executive officer is or was
                      (within the past three years of the proxy vote) an executive officer or director.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 63pt;">c.&#160;&#160;&#160; The issuer is a registered or unregistered fund or other client for which NAM or another affiliated adviser has a material relationship as
                      investment adviser or sub-adviser (e.g., Nuveen Funds and TIAA Funds) or an institutional separate account.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 63pt;">d.&#160;&#160;&#160; Any other circumstances that NAM is aware of where NAM&#8217;s duty to serve its clients&#8217; interests, typically referred to as its &#8220;duty of
                      loyalty,&#8221; could be materially compromised.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 45pt;">2. &#160;&#160; To further minimize this risk, Compliance will review ISS&#8217; conflict avoidance policy at least annually to ensure that it adequately
                      addresses both the actual and perceived conflicts of interest ISS may face.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;"> <br>
                    </div>
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                            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><font style="font-family: 'Times New Roman';">2</font></sup><font style="font-family: 'Times New Roman';">&#160;&#160; <br>
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                            <div>A conflict of interest shall not be considered material for the purposes of these Policies and Procedures with respect to a specific vote or circumstance if the matter to be voted on relates to a restructuring of the terms
                              of existing securities or the issuance of new securities or a similar matter arising out of the holding of securities, other than common equity, in the context of a bankruptcy or threatened bankruptcy of the issuer.</div>
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                      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">2</font></div>
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                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 45pt;">3.&#160;&#160;&#160; In the event that ISS faces a material conflict of interest with respect to a specific vote, the PVC shall direct ISS how to vote. The PVC
                      shall receive voting direction from appropriate investment personnel. Before doing so, the PVC will consult with Legal to confirm that NAM faces no material conflicts of its own with respect to the specific proxy vote.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 45pt;">4. &#160;&#160; Where ISS is determined to have a conflict of interest, or NAM determines to override the Policies and is determined to have a conflict,
                      the PVC will recommend to NAM&#8217;s Compliance Committee or designee a course of action designed to address the conflict. Such actions could include, but are not limited to:</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 45pt;">a.&#160;&#160;&#160; Obtaining instructions from the affected client(s) on how to vote the proxy;</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 45pt;">b.&#160;&#160;&#160; Disclosing the conflict to the affected client(s) and seeking their consent to permit NAM to vote the proxy;</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 45pt;">c.&#160;&#160;&#160; Voting in proportion to the other shareholders;</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 63pt;">e.&#160;&#160;&#160; Recusing the individual with the actual or potential conflict of interest from all discussion or consideration of the matter, if the
                      material conflict is due to such person&#8217;s actual or potential conflict of interest; or</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; margin-left: 45pt;">f.&#160;&#160;&#160;&#160; Following the recommendation of a different independent third party.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 45pt;">5.&#160;&#160;&#160; In addition to all of the above-mentioned and other conflicts, the Head of Equity Research, NGO and any member of the PVC must notify NAM&#8217;s
                      Chief Compliance Officer (&#8220;<u>CCO</u>&#8221;) of any direct, indirect or perceived improper influence exerted by any employee, officer or director of TIAA or its subsidiaries with regard to how NAM should vote proxies. NAM Compliance will
                      investigate any such allegations and will report the findings to the PVC and, if deemed appropriate, to NAM&#8217;s Compliance Committee. If it is determined that improper influence was attempted, appropriate action shall be taken. Such
                      appropriate action may include disciplinary action, notification of the appropriate senior managers, or notification of the appropriate regulatory authorities. In all cases, NAM will not consider any improper influence in determining
                      how to vote proxies, and will vote in the best interests of clients.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">C. Proxy Vote Override. </font>From time to time, a portfolio manager of an account (a &#8220;<u>Portfolio Manager</u>&#8221;) may
                      initiate action to override the Policies&#8217; recommendation for a particular vote. Any such override by a NAM Portfolio Manager (but not a sub-adviser Portfolio Manager)</div>
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                      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">3</font></div>
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                    <div style="margin-top: 12pt; margin-bottom: 12pt;">shall be reviewed by NAM&#8217;s Legal Department for material conflicts. If the Legal Department determines that no material conflicts exist, the approval of one member of the PVC shall
                      authorize the override. If a material conflict exists, the conflict and, ultimately, the override recommendation will be rejected and will revert to the original Policies recommendation or will be addressed pursuant to the procedures
                      described above under &#8220;Conflicts of Interest.&#8221;</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">In addition, the PVC may determine from time to time that a particular recommendation in the Policies should be overridden based on a determination that the recommendation is
                      inappropriate and not in the best interests of shareholders. Any such determination shall be reflected in the minutes of a meeting of the PVC at which such decision is made.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic; font-weight: bold; text-indent: 9pt;">D. Securities Lending.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 36pt;">1.&#160;&#160;&#160; In order to generate incremental revenue, some clients may participate in a securities lending program. If a client has elected to
                      participate in the lending program then it will not have the right to vote the proxies of any securities that are on loan as of the shareholder meeting record date. A client, or a Portfolio Manager, may place restrictions on loaning
                      securities and/or recall a security on loan at any time. Such actions must be affected prior to the record date for a meeting if the purpose for the restriction or recall is to secure the vote.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 36pt;">2. &#160;&#160; Portfolio Managers and/or analysts who become aware of upcoming proxy issues relating to any securities in portfolios they manage, or
                      issuers they follow, will consider the desirability of recalling the affected securities that are on loan or restricting the affected securities prior to the record date for the matter. If the proxy issue is determined to be material,
                      and the determination is made prior to the shareholder meeting record date the Portfolio Manager(s) will contact the Securities Lending Agent to recall securities on loan or restrict the loaning of any security held in any portfolio
                      they manage, if they determine that it is in the best interest of shareholders to do so.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">E. Proxy Voting Records. </font>As required by Rule 204-2 of the Investment Advisers Act of 1940, NAM shall make and retain
                      five types of records relating to proxy voting; (1) NAM&#8217;s Policies; (2) proxy statements received for securities in client accounts; (3) records of proxy votes cast by NAM on behalf of clients accounts; (4) records of written requests
                      from clients about how NAM voted their proxies, and written responses from NAM to either a written or oral request by clients; and (5) any documents prepared by the adviser that were material to making a proxy voting decision or that
                      memorialized the basis for the decision. NAM relies on ISS to make and retain on NAM&#8217;s behalf certain records pertaining to Rule 204-2.</div>
                  </div>
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                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">4</font></div>
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                  <div>&#160;&#160;&#160;&#160; <font style="font-weight: bold; font-style: italic;">F. Fund of Funds Provision</font>. In instances where NAM provides investment advice to a fund of funds that acquires shares of affiliated funds or three percent or more of
                    the outstanding voting securities of an unaffiliated fund, the acquiring fund shall vote the shares in the same proportion as the vote of all other shareholders of the acquired fund. If compliance with this procedure results in a vote
                    of any shares in a manner different than the Policies&#8217; recommendation, such vote will not require compliance with the Proxy Vote Override procedures set forth above.
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">G. Legacy Securities. </font>To the extent that NAM receives proxies for securities that are transferred into an account&#8217;s
                      portfolio that were not recommended or selected by it and are sold or expected to be sold promptly in an orderly manner (&#8220;<u>legacy securities</u>&#8221;), NAM will generally refrain from voting such proxies. In such circumstances, since
                      legacy securities are expected to be sold promptly, voting proxies on such securities would not further NAM&#8217;s interest in maximizing the value of client investments. NAM may agree to an account&#8217;s special request to vote a legacy
                      security proxy, and would vote such proxy in accordance with the Policies.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">H. Terminated Accounts. </font>Proxies received after the termination date of an account generally will not be voted. An
                      exception will be made if the record date is for a period in which an account was under NAM&#8217;s discretionary management or if a separately managed account (&#8220;<u>SMA</u>&#8221;) custodian failed to remove the account&#8217;s holdings from its
                      aggregated voting list.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">I. Non-votes. </font>NGO shall be responsible for obtaining reasonable assurance from ISS that it voted proxies on NAM&#8217;s
                      behalf, and that any special instructions from NAM about a given proxy or proxies are submitted to ISS in a timely manner. It should not be considered a breach of this responsibility if NGO or NAM does not receive a proxy from ISS or
                      a custodian with adequate time to analyze and direct to vote or vote a proxy by the required voting deadline.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NAM may determine not to vote proxies associated with the securities of any issuer if as a result of voting such proxies, subsequent purchases or sales of such securities
                      would be blocked. However, NAM may decide, on an individual security basis that it is in the best interests of its clients to vote the proxy associated with such a security, taking into account the loss of liquidity. In addition, NAM
                      may determine not to vote proxies where the voting would in NAM&#8217;s judgment result in some other financial, legal, regulatory disability or burden to the client (such as imputing control with respect to the issuer) or to NAM or its
                      affiliates.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; NAM may determine not to vote securities held by SMAs where voting would require the transfer of the security to another custodian designated by the issuer. Such transfer
                      is generally outside the scope of NAM&#8217;s authority and may result in significant operational limitations on NAM&#8217;s ability to conduct transactions relating to the securities during the period of transfer. From time to time, situations
                      may arise (operational or otherwise) that prevent NAM from voting proxies after reasonable attempts have been made.</div>
                    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
                      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">5</font></div>
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                    <div style="margin-top: 12pt; margin-bottom: 12pt; font-style: italic; font-weight: bold; text-indent: 9pt;">J. Review and Reports.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 36pt;">1.&#160;&#160; The PVC shall maintain a review schedule. The schedule shall include reviews of the Policies and the policies of any Sub-adviser engaged by
                      NAM, the proxy voting record, account maintenance, and other reviews as deemed appropriate by the PVC. The PVC shall review the schedule at least annually.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; text-indent: -18pt; margin-left: 36pt;">2.&#160;&#160; The PVC will report to NAM&#8217;s Compliance Committee with respect to all identified conflicts and how they were addressed. These reports will
                      include all accounts, including those that are sub-advised. NAM also shall provide the Funds that it sub-advises with information necessary for preparing Form N-PX.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;<font style="font-weight: bold; font-style: italic;">K. Vote Disclosure to Clients. </font>NAM&#8217;s institutional and SMA clients can contact their relationship manager for more
                      information on NAM&#8217;s Policies and the proxy voting record for their account. The information available includes name of issuer, ticker/CUSIP, shareholder meeting date, description of item and NAM&#8217;s vote.</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt; font-weight: bold;">IV. Responsible Parties</div>
                    <div style="margin-top: 12pt; margin-bottom: 12pt;">PVC<br>
                      NGO<br>
                      NAM Compliance<br>
                      Legal Department</div>
                    <div style="margin-bottom: 10pt;"><br>
                    </div>
                    <div style="margin-bottom: 10pt;">
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                      <div style="text-align: center;">6<br>
                      </div>
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                      </div>
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