# Portfolio overlap — PTHAX vs PCTEX Comparing **Putnam Tax-Free High Yield Fund** (2025-07-31) and **Putnam California Tax Exempt Income Fund** (2025-09-30). - Shared positions: 19 - Putnam Tax-Free High Yield Fund covered by Putnam California Tax Exempt Income Fund: 0.04851240757319838098515343426 - Putnam California Tax Exempt Income Fund covered by Putnam Tax-Free High Yield Fund: 0.04851240757319838098515343426 ## Putnam Tax-Free High Yield Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | NYC TRANSITIONAL-A-1 | 0.020239 | | | Port of Portland OR Airport Revenue (TOBs) | 0.019999 | | | OH BUCGEN 5 06/01/2055 | 0.012049 | | | Alaska (State of) Industrial Development & Export Authority (Tanana Chiefs Conferene), Series 2019, RB | 0.011571 | | | New York State Thruway Authority (TOBs) | 0.011223 | | | CITY OF CHICAGO IL 4.0% 01-01-38 | 0.010475 | | | Orange (County of), FL Health Facilities Authority (Orlando Health Obligated Group), Series 2022, RB | 0.009783 | | | INTERNATIONAL LEADERSHIP OF TEXAS INC 6.125% 08-15-48 | 0.009222 | | | Tender Option Bond Trust Receipts/Certificates | 0.008680 | | | St. Louis (County of), MO Industrial Development Authority (Friendship Village West County), Series 2018 A, RB | 0.008426 | | | Grays Harbor County Public Hospital District No. 1, Series 2023 | 0.008250 | | | MD ECON DEV CORP -A | 0.008020 | | | RESTRUCTURED-SER A1 | 0.007956 | ✓ | | ILLINOIS ST FIN AUTH STUDENT HSG & ACADEMIC FAC REVENUE | 0.007687 | | | RESTRUCTURED-SER A1 | 0.007632 | | | WA ST HSG FIN COMMN-1 | 0.007117 | | | NY TRANSPRTN DEV CORP | 0.006863 | | | CHIEDU 5 12/1/2036 | 0.006854 | | | Port Authority of New York & New Jersey (TOBs) | 0.006691 | | | TEXAS TX 6% 8/1/2054 | 0.006580 | | | District of Columbia (Green Bonds), Series 2022 A, RB | 0.006393 | | | NY LIBERTY DEV 3% 9/15/2043 | 0.006336 | | | NY TRNSPRTN DEV-AMT | 0.006288 | | | CSCDA Community Improvement Authority, Series 2021 A | 0.006257 | ✓ | | NY LIBERTY DEV CORP-A | 0.006198 | | | Lancaster County Hospital Authority/PA | 0.005933 | | | Maricopa County Industrial Development Authority, Series 2024 | 0.005866 | | | Puerto Rico Electric Power Authority, Series TT | 0.005612 | | | CSCDA Community Improvement Authority, Series A-2 | 0.005528 | ✓ | | CSCDA Community Improvement Authority, Series A-2 | 0.005519 | ✓ | | Detroit, Wayne County, Michigan, General Obligation Bonds, Financial Recovery Series 2014B-1 | 0.005437 | | | SIGNIA HOTEL MANAGEMENT LLC 5.0% 01-01-54 | 0.005384 | | | DENVER CO ARPT 5.75% 11/15/38 | 0.005293 | | | OHIO ST HGR EDUCTNL FAC COMMISSION | 0.005285 | | | NH NFADEV 3.62 08/20/2039 | 0.005274 | | | BUCKEYE TOBACCO SETTLEMENT FIN BUCGEN 06/48 FIXED 3 | 0.005002 | | | UNITED AIRLINES INC 4.0% 07-01-41 | 0.004947 | | | Public Finance Authority | 0.004932 | | | Ohio Higher Educational Facility Commission, Series 2022 | 0.004921 | | | LIFESPACE COMMUNITIES INC OBLIGATED GROUP 5.125% 05-15-59 | 0.004894 | | | FLORIDA DEV FIN CORP HLTHCAREF REGD B/E 5.00000000 | 0.004849 | | | TX MATPOL 4.4 05/01/2030 | 0.004813 | | | WFCS HOLDINGS LLC 5.0% 01-01-55 | 0.004778 | | | Camden (County of), NJ Improvement Authority (The) (KIPP Cooper Norcross Academy) (Social Bonds), Series 2022, RB | 0.004692 | | | City of Sunnyvale, Series 2001 | 0.004674 | | | Dallas Area Municipal Authority, Series 2019 | 0.004653 | | | FLORIDA ST LOCAL GOVT FIN COMM REGD OID B/E 6.12500000 | 0.004608 | | | City of Chicago, Series 2021 A | 0.004540 | | | Health & Educational Facilities Authority of the State of Missouri, Series 2023 A | 0.004529 | | | Plaza Metropolitan District No. 1, Series 2013, Ref. RB | 0.004504 | | ## Putnam California Tax Exempt Income Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | California State Public Works Board (TOBs) | 0.018612 | | | Los Angeles (City of), CA Department of Airports (Los Angeles International Airport), Series 2018 A, RB | 0.015506 | | | CHANNELSIDE WATER RESOURCES LP 5.0% 11-21-45 | 0.015354 | | | FREDDIE MAC MULTIFAMILY ML CERTIFICATES SER 2019-ML05 CL ACA 3.35000000 | 0.014701 | | | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Green Series 2022G | 0.014085 | | | TOBACCO SECURITIZATION AUTH ST TOBGEN 06/48 FIXED 5 | 0.013623 | | | New Hampshire Business Finance Authority, Series 4, Class A | 0.013222 | | | CALIFORNIA COMMUNITY VAR | 0.012892 | | | Chabot-Las Positas Community College District, Series C | 0.011479 | | | SAN DIEGO HSG AUTH-E | 0.011406 | | | CA MUNI FIN AUTH-A | 0.011393 | | | M-S-R Energy Authority, Series A | 0.011331 | | | San Francisco City & County Public Utilities Commission Power, Series 2023A | 0.011212 | | | Los Angeles Department of Water & Power, Series 2022A | 0.011066 | | | CALIFORNIA ST STWD CMNTYS DEV REGD B/E 5.00000000 | 0.010909 | | | CHF-DAVIS II LLC BAM 3.0% 05-15-51 | 0.010587 | | | SWEETWATER UNION HIGH SCHOOL D SWESCD 08/52 FIXED 5 | 0.010515 | | | CALIFORNIA COMMUNITY VAR | 0.010397 | | | NRTHRN CA ENRGY | 0.009988 | | | CA ST MFA COP 5.25% 11/1/2052 | 0.009451 | | | State of California | 0.009127 | | | CA MUN FIN AUTH | 0.009033 | | | LOS ANGELES DEPT OF W | 0.008987 | | | Alameda Corridor Transportation Authority, Series 2022A | 0.008875 | | | California Community Choice Financing Authority, Series F | 0.008389 | | | CSCDA Community Improvement Authority, Series 2021 A-2 | 0.008281 | ✓ | | Long Beach (City of), CA Bond Finance Authority, Series 2007 A, RB | 0.008219 | | | CSCDA Community Improvement Authority, Series A-2 | 0.008151 | ✓ | | CHF-RIVERSIDE I LLC 5.0% 05-15-43 | 0.008045 | | | California (State of) School Finance Authority (Green Dot Public Schools), Series 2018 A, RB | 0.008013 | | | California Community Housing Agency, Series A-1 | 0.007983 | ✓ | | CA MUNI FIN AUTH-A | 0.007776 | | | California Infrastructure & Economic Development Bank, Series 2022 B | 0.007733 | | | GOLDEN ST TOBACCO SECURITIZATI REGD B/E 5.00000000 | 0.007600 | | | California County Tobacco Securitization Agency, Series 2014 | 0.007472 | | | SF BART/MTC 3% 8/1/49 | 0.007398 | | | Grays Harbor Public Hospital District 1, Washington, Revenue Bonds, Summit Pacific Medial Center Series 2023 | 0.007315 | | | CALIFORNIA ST HLTH FACS FING AUTH REVENUE | 0.007197 | | | FREDDIE MAC MULTIFAMILY ML CERTIFICATES SER 2024-ML25 CL ACA V/R 3.54109800 | 0.007190 | | | COLBURN SCHOOL (MPT) 1.75% 08-01-55 | 0.006982 | | | HUMANGOOD CALIFORNIA OBLIGATED GROUP 4.0% 10-01-44 | 0.006779 | | | City of Los Angeles CA | 0.006756 | | | INDIO PUB FING AUTH-A | 0.006659 | | | South Tahoe Joint Powers Financing Authority, Series 2023 A, RB | 0.006598 | | | California (State of) Educational Facilities Authority (University of the Pacific), Series 2023, RB | 0.006385 | | | California Community Housing Agency, Series 2020 A | 0.006192 | | | California (State of) School Finance Authority (Granada Hills Charter Obligated Group), Series 2019, RB | 0.006189 | | | SAN FRANCISCO BAY-F1 | 0.005979 | | | Putnam Short Term Investment Fund, Class P | 0.005918 | | | S TAHOE CA JT PWRS FING AUTH L STHPWR 10/48 FIXED 5.25 | 0.005810 | | ## Sources - N-PORT (fund A) — accession `0002071691-25-001599` (as of 2025-07-31) - N-PORT (fund B) — accession `0002071691-25-006482` (as of 2025-09-30) --- _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 _