# Portfolio overlap — DCTIX vs DMUSX Comparing **Nomura Tax-Free California Fund** (2026-02-27) and **Nomura Tax-Free USA Intermediate Fund** (2026-02-27). - Shared positions: 26 - Nomura Tax-Free California Fund covered by Nomura Tax-Free USA Intermediate Fund: 0.1097667538815463559442514870 - Nomura Tax-Free USA Intermediate Fund covered by Nomura Tax-Free California Fund: 0.1097667538815463559442514870 ## Nomura Tax-Free California Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.029084 | ✓ | | PUERTO RICO SALES TAX FING COR REGD OID B/E 5.00000000 | 0.020659 | ✓ | | COMMONSPIRIT HEALTH OBLIGATED GROUP 4.0% 04-01-49 | 0.018118 | | | CA ST UNIV REV 3% 11/1/2052 | 0.017587 | | | Puerto Rico, GDB Debt Recovery Authority Commonwealth Bonds, Taxable Series 2018 | 0.016189 | ✓ | | CALIFORNIA ST EDUCTNL | 0.014278 | | | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE | 0.013785 | | | SAN FRANCISCO W 5.25% 11/1/2055 | 0.013398 | | | San Francisco City & County Airport Comm-San Francisco International Airport, Series 2025D | 0.013232 | | | Los Angeles Department of Water & Power, Series A | 0.012927 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000 | 0.012760 | ✓ | | State of California, Series 2025, GO Bonds | 0.012503 | | | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE | 0.012271 | | | California Community Choice Financing Authority, Series B | 0.011711 | | | Bay Area Toll Authority, Toll Bridge, Series 2024I | 0.011586 | | | Tender Option Bond Trust Receipts/Certificates | 0.011369 | | | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding Subordinate Green Series 2025A | 0.011328 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 C, RB | 0.011325 | ✓ | | State of California 5.00% 03/01/2055 | 0.011291 | | | TOBACCO SECURITIZATION AUTH ST TOBGEN 06/46 ZEROCPNOID 0 | 0.010140 | ✓ | | RESTRUCTURED-SER A1 | 0.010000 | ✓ | | STATE OF CALIFORNIA 5.25% 08-01-44 | 0.009992 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.009981 | | | KAISER FOUNDATION HOSPITALS 5.0% 11-01-47 | 0.009896 | ✓ | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.009892 | ✓ | | California Community Choice Financing Authority, Series 2026 A-1 | 0.009749 | | | San Diego County Regional Airport Authority, Series 2025B | 0.009731 | | | CALIFORNIA COMMUNITY VAR | 0.009607 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.009575 | | | State of California 5.00% 09/01/2039 | 0.009552 | | | University of California, Series 2025 CC, RB | 0.009528 | | | Los Angeles (City of), CA, Series 2025, RB | 0.009524 | | | State of California | 0.009415 | | | STATE OF CALIFORNIA 5.0% 04-01-49 | 0.009404 | | | CALIFORNIA ST SCH FIN AUTH CHR CASSCD 07/55 FIXED OID 5 | 0.009352 | | | San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2025 A, RB | 0.009039 | | | State of California | 0.008841 | | | LOS ANGELES DEPT-C | 0.008772 | | | STATE OF CALIFORNIA 5.0% 11-01-50 | 0.008573 | | | LELAND STANFORD JUNIOR UNIVERSITY 5.0% 06-01-46 | 0.008488 | ✓ | | M-S-R Energy Authority, Series 2009 C | 0.008379 | | | THE CHILDRENS TRUST FUND PR TO CHILDREN'S TRUST FUND | 0.008125 | | | UNIV OF CALIFORNIA CA | 0.007773 | | | COMMONSPIRIT HEALTH OBLIGATED GROUP 4.0% 04-01-45 | 0.007707 | | | CEDARS-SINAI MEDICAL CENTER OBLIGATED GROUP 3.0% 08-15-51 | 0.007673 | | | CA ST UNIV-A-REF | 0.007660 | | | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | 0.007658 | | | UNIV OF CALIFORNIA CA REVENUES | 0.007490 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 D, RB | 0.007483 | ✓ | | MORENO VLY UNIF SD-A | 0.007474 | | ## Nomura Tax-Free USA Intermediate Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | Puerto Rico, GDB Debt Recovery Authority Commonwealth Bonds, Taxable Series 2018 | 0.022905 | ✓ | | TOBACCO SETTLEMENT FING CORP V TOBGEN 06/47 ZEROCPNOID 0 | 0.017492 | | | PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000 | 0.015717 | ✓ | | Puerto Rico, General Obligation Bonds, Vintage CW NT Claims Taxable Series 2022 | 0.014299 | ✓ | | RESTRUCTURED-SER A1 | 0.013383 | ✓ | | PENNSYLVANIA ST HSG FIN AGY SF REGD B/E 4.85000000 | 0.012785 | | | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 12-15-47 | 0.011868 | | | NY ST THRUWAY AUTH-B | 0.011609 | | | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Series 2023A | 0.011551 | | | New Jersey Transportation Trust Fund Authority, Series 2009 A | 0.011235 | | | FL ST DFC(BRIGHTLINE FL)/AGM 5.25% 7/1/53@ | 0.010150 | | | WI PUBTRN 6.5 12/31/2065 | 0.009577 | | | SALT VERDE FINL. CO 5.00% | 0.009210 | | | UNITED STATES STEEL CORP 5.7% 05-01-53 | 0.009093 | | | NY LIBERTY DEV CORP | 0.008977 | | | RESTRUCTURED-SER A1 | 0.008610 | | | California (State of) Community Choice Financing Authority (Green Bonds), Series 2023 D, RB | 0.008559 | ✓ | | GTR ORLANDO FL AVIATION AUTH ARPT FACS REVENUE | 0.008269 | | | State of Illinois | 0.007784 | | | COLORADO ST HLTH FACS AUTH REVENUE | 0.007551 | | | DENVER CITY & CNTY CO ARPT REV REGD B/E AMT 5.00000000 | 0.007439 | | | CALIFORNIA ST EDUCTNL FACS AUTH REVENUE | 0.007248 | | | NJ TRANS TR FD-A-BAM | 0.006966 | | | SOUTHEAST ENERGY AUTH VAR | 0.006869 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.006808 | ✓ | | UNIV OF COLORADO CO HOSP AUTH UCOMED 11/35 ADJUSTABLE VAR | 0.006769 | | | New York Transportation Development Corp., Series 2024 | 0.006712 | | | State of Maryland, Series 2025, GO Bonds | 0.006691 | | | California (State of) Community Choice Financing Authority (Clean Energy) (Green Bonds), Series 2024, RB | 0.006656 | ✓ | | STATE OF ILLINOIS MCCORMICK PLACE EXPANSION PROJECT FUND 4.0% 12-15-42 | 0.006508 | | | COUNTY OF HARRIS TX | 0.006499 | | | ST PAUL MN HLTH 4% 7/1/2035 | 0.006462 | | | NY ST THRWY AUTH | 0.006326 | | | RESTRUCTURED-SER A-2 | 0.006269 | ✓ | | BLACK BELT ENRY GAS-A | 0.006229 | | | CA ST PUB WKS BRD-D | 0.006218 | | | FLORIDA ST DEV FIN CORP REGD V/R B/E AMT 10.00000000 | 0.006207 | | | Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, Series 2023 A-3 | 0.006176 | | | Seminole County Industrial Development Authority, Legacy Pointe at UCF Project, Series 2019A | 0.006155 | | | TRIBOROUGH NY BRIDGE & TUNNEL TRIBOROUGH BRIDGE & TUNNEL AUTHORITY | 0.006124 | | | BLACK BELT ENERGY GAS VAR | 0.006074 | | | BLACK BELT ENERGY GAS VAR | 0.005991 | | | NJ TRANSPR TRUST | 0.005982 | | | MUNI ELEC AUTH OF GEORGIA REGD B/E 5.00000000 | 0.005965 | | | PENNSYLVANIA ST HSG FIN AGY SF MTGE REVENUE | 0.005942 | | | SUFFOLK REGL OFF-TRACK BETTING SUFFOLK REGIONAL OFF-TRACK BETTING CORP | 0.005926 | | | San Diego County Regional Airport Authority, Series B | 0.005897 | | | PUERTO RICO SALES TAX FING COR REGD ZCP OID B/E 0.00000000 | 0.005880 | ✓ | | NYC TRANS FIN-A-E-1 | 0.005875 | | | VIRGINIA ST PUB BLDG AUTH PUBLIC FACS REVENUE | 0.005874 | | ## Sources - N-PORT (fund A) — accession `0000940400-26-014626` (as of 2026-02-27) - N-PORT (fund B) — accession `0000940400-26-014619` (as of 2026-02-27) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _