FCAHX
Franklin California High Yield Municipal Fund
Franklin Municipal Securities Trust

Portfolio concentration

As of February 28, 2026 · N-PORT
Holdings
743
Top-10 weight
11.11%
Effective holdings ?
269
Crowding ?
20.7

Holdings

As of February 28, 2026 · N-PORT
#SecurityTickerSharesValue% of fund
1 LOMA LINDA UNIVERSITY MEDICAL CENTER OBLIGATED GROUP 5.25% 12-01-56 CASGEN 45,755,000 $45.78M 1.40%
2 San Joaquin Hills Transportation Corridor Agency, Series 1997 A SJHTRN 50,225,000 $42.08M 1.29%
3 GRND CANYON UNIV 41,035,000 $41.26M 1.26%
4 Foothill-Eastern Transportation Corridor Agency, Series 2013 A FOOTRN 75,000,000 $41.20M 1.26%
5 M-S-R Energy Authority, Series 2009 B, RB MSRPWR 32,300,000 $40.46M 1.24%
6 San Francisco (City & County of), CA Airport Commission (San Francisco International Airport), Series 2019 E, RB SFOAPT 34,520,000 $34.97M 1.07%
7 Los Angeles Housing Authority, Series 2024 B 33,500,000 $32.62M 1.00%
8 CMFA Special Finance Agency Enclave, Series 2022 A-2 39,885,000 $28.29M 0.86%
9 RESTRUCTURED-SER A-2 PRCGEN 28,616,000 $27.73M 0.85%
10 CMFA SPL FIN AGY XII CA ESSENT REGD OID B/E 4.37500000 30,280,000 $26.19M 0.80%
11 San Diego Unified School District, Series 2010C 26,025,000 $26.02M 0.79%
12 KAISER FOUNDATION HOSPITALS 5.0% 11-01-47 21,565,000 $24.31M 0.74%
13 SAN JOAQUIN VLY CLEAN ENERGY AUTH CA CLEAN ENERGY REVENUE SSJUTL 21,250,000 $24.22M 0.74%
14 CALIFORNIA ST MUNI FIN AUTH REVENUE 22,250,000 $22.37M 0.68%
15 GOLDEN ST CONNECT 22,000,000 $22.25M 0.68%
16 California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel Apartments, Series 2019A 27,050,000 $21.96M 0.67%
17 CHANNELSIDE WATER RESOURCES LP 5.0% 11-21-45 21,685,000 $21.71M 0.66%
18 UNIV OF CALIFORNIA CA REVENUES UNVHGR 20,200,000 $21.55M 0.66%
19 FOOTHL/EASTN CA 3.95% 1/15/2053 23,000,000 $21.10M 0.64%
20 CALIFORNIA ST CMNTY CLG FING AUTH STUDENT HSG REVENUE CASHGR 30,295,000 $20.98M 0.64%
21 California Municipal Finance Authority, Series 2023 B-1 20,770,000 $20.75M 0.63%
22 Los Angeles Department of Water, Series 2020 A 18,805,000 $19.33M 0.59%
23 CSCDA COMMUNITY IMPROVEMENT AUTHORITY WOOD CREEK APARTMENTS 4.0% 12-01-59 31,800,000 $18.60M 0.57%
24 SAN JOAQUIN JR LIEN SJHTRN 19,150,000 $18.47M 0.56%
25 SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST SFOTRN 17,760,000 $17.83M 0.54%
26 PUERTO RICO SALES TAX FING COR REGD OID B/E 4.75000000 PRCGEN 18,244,000 $17.79M 0.54%
27 CALIFORNIA HSG FIN AGY LTD OBLIG MF HSG REVENUE 16,970,000 $17.29M 0.53%
28 California Community Housing Agency, Series A 22,525,000 $17.23M 0.53%
29 Rio Hondo Community College District, Series 2010C RHDHGR 13,000,000 $16.52M 0.50%
30 California Municipal Finance Authority, Series 2023 B 20,710,000 $16.43M 0.50%
31 Irvine Ranch Water District, Series B IVRWTR 16,300,000 $16.30M 0.50%
32 State of California Department of Water Resources, Series 2026A 15,000,000 $16.11M 0.49%
33 CALIFORNIA ST EDUCTNL FACS AUTH REVENUE CASEDU 15,000,000 $15.94M 0.49%
34 FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE FOOTRN 19,000,000 $15.80M 0.48%
35 Los Angeles Department of Water & Power Water System, Series B 15,080,000 $15.77M 0.48%
36 Maricopa County Industrial Development Authority, Series 2024 MAREDU 13,640,000 $14.73M 0.45%
37 RESTRUCTURED-SER A1 PRC 16,300,453 $14.72M 0.45%
38 Anaheim Housing & Public Improvements Authority, Series 2024-A ANAHSG 14,500,000 $14.50M 0.44%
39 CALIFORNIA ST MUNI FIN AUTH REVENUE 13,915,000 $14.15M 0.43%
40 CALIFORNIA COMMUNITY HOUSING AGENCY VERDANT AT GREEN VALLEY APARTMENTS 5.0% 08-01-49 CCHHSG 15,000,000 $14.11M 0.43%
41 California Municipal Finance Authority, Series 2022 A-1 16,700,000 $14.07M 0.43%
42 FHLMC, Multi-family ML Pass-Through Certificates, Series 2020-ML07, Class XCA 115,915,168 $13.82M 0.42%
43 CA SCH FIN AUTH -A 16,730,000 $13.80M 0.42%
44 San Joaquin Hills Transportation Corridor Agency, Series B SJHTRN 13,790,000 $13.80M 0.42%
45 California Municipal Finance Authority, Series 2023 B-2 13,825,000 $13.78M 0.42%
46 CALIFORNIA COMMUNITY VAR CCEDEV 12,500,000 $13.57M 0.41%
47 University of California, Series 2025 CC, RB 12,500,000 $13.57M 0.41%
48 California Municipal Finance Authority, Series 2025 B 12,950,000 $13.43M 0.41%
49 GDB Debt Recovery Authority of Puerto Rico 13,655,512 $13.43M 0.41%
50 St. Helena Unified School District, Series 2011 B 10,000,000 $13.29M 0.41%
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