Verdicts genuinely change. Free email alert the moment PCTBX's does — no target price to set, unlike "Alert" above.
Whether this fund clears the published standards, and the filings behind that answer. The screen runs first and nothing on the trading side can override it.
Structure, momentum, positioning and levels. Separate from the Sharia verdict above, which this side never overrides.
Putnam California Tax Exempt Income Fund
333 holdings
This fund holds short positions, so exposure is counted gross — long and short both count as exposure rather than netting off, and the weights below therefore sum to 102% of net assets rather than 100%. Shares of the portfolio are shown as shares of that gross exposure.
UNVERIFIED None of this fund's 333 holdings are companies in our screened equity universe. Our look-through screens equities, so it does not apply to a fund holding bonds, sukuk or other instruments — this is not a gap in our data about the fund.
Largest holdings: California State Public Works Board, City of Los Angeles, California Pollution Control Financing Authority, City of Los Angeles, Tobacco Securitization Authority of Southern California.
333 holdings, 6 matched (3% of weight). Portfolio as of 2025-09-30, filed 2025-11-24. Source: SEC Form N-PORT.
Portfolio shares are withheld: coverage is below the floor needed to state one. The holdings themselves are below, because the names are evidence you can check.
| Holding | Status | Weight | Every methodology, and the debt ratio behind it |
|---|---|---|---|
| City of Menifee CA | UNSCREENED | 0.10% | no in-house ratios for this holding |
| N/A | NON_COMPLIANT | 0.10% | no in-house ratios for this holding |
| California Community College Financing Authority | UNSCREENED | 0.10% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.10% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.10% | no in-house ratios for this holding |
| Temescal Valley Water District | UNSCREENED | 0.10% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.10% | no in-house ratios for this holding |
| Long Beach Unified School District | UNSCREENED | 0.10% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.09% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.09% | no in-house ratios for this holding |
| United States of America | NON_COMPLIANT | 0.09% | no in-house ratios for this holding |
| City of Rancho Cordova CA | UNSCREENED | 0.09% | no in-house ratios for this holding |
| City of Fontana CA | UNSCREENED | 0.09% | no in-house ratios for this holding |
| Root Creek Water District Community Facilities District No. 2016-1 Impt Area No. 3 | UNSCREENED | 0.09% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.09% | no in-house ratios for this holding |
| Ceres Unified School District | UNSCREENED | 0.09% | no in-house ratios for this holding |
| Ceres Unified School District | UNSCREENED | 0.09% | no in-house ratios for this holding |
| City of Newport Beach CA | UNSCREENED | 0.09% | no in-house ratios for this holding |
| City of Fontana CA | UNSCREENED | 0.09% | no in-house ratios for this holding |
| City of Sacramento CA | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Romoland School District | UNSCREENED | 0.08% | no in-house ratios for this holding |
| California Infrastructure & Economic Development Bank | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Riverside County Redevelopment Successor Agency | UNSCREENED | 0.08% | no in-house ratios for this holding |
| California Community College Financing Authority | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Moreno Valley Unified School District Community Facilities District | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Eastern Municipal Water District | UNSCREENED | 0.08% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Eastern Municipal Water District | UNSCREENED | 0.08% | no in-house ratios for this holding |
| California Enterprise Development Authority | UNSCREENED | 0.08% | no in-house ratios for this holding |
| Long Beach Community College District | UNSCREENED | 0.08% | no in-house ratios for this holding |
| County of San Diego CA | UNSCREENED | 0.08% | no in-house ratios for this holding |
| City of Rocklin CA | UNSCREENED | 0.08% | no in-house ratios for this holding |
| City of Rocklin CA | UNSCREENED | 0.08% | no in-house ratios for this holding |
| City of Roseville CA | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Statewide Communities Development Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Educational Facilities Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Statewide Communities Development Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Statewide Communities Development Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| Root Creek Water District Community Facilities District No. 2016-1 Impt Area No. 3 | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California School Finance Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| Chino Community Facilities District | UNSCREENED | 0.07% | no in-house ratios for this holding |
| Santa Maria Joint Union High School District | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Infrastructure & Economic Development Bank | UNSCREENED | 0.07% | no in-house ratios for this holding |
| City of Dixon CA | UNSCREENED | 0.07% | no in-house ratios for this holding |
| City of Rancho Cordova CA | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Educational Facilities Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California School Finance Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.07% | no in-house ratios for this holding |
| State of California | UNSCREENED | 0.07% | no in-house ratios for this holding |
| California Enterprise Development Authority | UNSCREENED | 0.06% | no in-house ratios for this holding |
| California School Finance Authority | UNSCREENED | 0.06% | no in-house ratios for this holding |
| Irvine Unified School District | UNSCREENED | 0.06% | no in-house ratios for this holding |
| United States of America | NON_COMPLIANT | 0.06% | no in-house ratios for this holding |
| City of Roseville CA | UNSCREENED | 0.06% | no in-house ratios for this holding |
| Riverside Unified School District | UNSCREENED | 0.06% | no in-house ratios for this holding |
| California Statewide Communities Development Authority | UNSCREENED | 0.06% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.06% | no in-house ratios for this holding |
| City of Dixon CA | UNSCREENED | 0.06% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.06% | no in-house ratios for this holding |
| Santa Maria Joint Union High School District | UNSCREENED | 0.05% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.05% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.05% | no in-house ratios for this holding |
| City of Rancho Cordova CA | UNSCREENED | 0.05% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.04% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.04% | no in-house ratios for this holding |
| City of Newport Beach CA | UNSCREENED | 0.04% | no in-house ratios for this holding |
| California Municipal Finance Authority | UNSCREENED | 0.04% | no in-house ratios for this holding |
| City of Newport Beach CA | UNSCREENED | 0.04% | no in-house ratios for this holding |
| City of Fontana CA | UNSCREENED | 0.04% | no in-house ratios for this holding |
| Santa Maria Joint Union High School District | UNSCREENED | 0.04% | no in-house ratios for this holding |
| City of San Diego Tobacco Settlement Revenue Funding Corp. | UNSCREENED | 0.03% | no in-house ratios for this holding |
| California School Finance Authority | UNSCREENED | 0.03% | no in-house ratios for this holding |
| City of Newport Beach CA | UNSCREENED | 0.03% | no in-house ratios for this holding |
| Irvine Unified School District | UNSCREENED | 0.03% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.03% | no in-house ratios for this holding |
| City of Dixon CA | UNSCREENED | 0.03% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.02% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.02% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.01% | no in-house ratios for this holding |
| California County Tobacco Securitization Agency | UNSCREENED | 0.01% | no in-house ratios for this holding |
| California Educational Facilities Authority | UNSCREENED | 0.00% | no in-house ratios for this holding |
| California Housing Finance Agency | UNSCREENED | 0.00% | no in-house ratios for this holding |
Whether the technical picture shows an edge right now. Separate from the Sharia verdict, which this side never overrides.
HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A holding it cannot cover far enough is reported as unrated rather than counted as a pass.
| Holding | Weight | Verdict |
|---|---|---|
| California State Public Works Boardnot matched to a ticker | 1.90% | Not screened |
| City of Los Angelesnot matched to a ticker | 1.58% | Not screened |
| California Pollution Control Financing Authoritynot matched to a ticker | 1.57% | Not screened |
| FHLMC Multifamily ML Certificatesnot matched to a ticker | 1.50% | Non-compliant |
| City of Los Angelesnot matched to a ticker | 1.44% | Not screened |
| Tobacco Securitization Authority of Southern Californianot matched to a ticker | 1.39% | Not screened |
| New Hampshire Business Finance Authoritynot matched to a ticker | 1.35% | Not screened |
| California Community Choice Financing Authoritynot matched to a ticker | 1.32% | Not screened |
| Chabot-Las Positas Community College Districtnot matched to a ticker | 1.17% | Not screened |
| San Diego Housing Authority, Inc.not matched to a ticker | 1.16% | Not screened |
Top 10 of 333 holdings, 14.4% of the fund by weight. Every holding is screened, not only these.
The positions keeping this fund short of 100% compliant by weight.
Verdict history for PCTBX. A verdict that never moved is recorded too, so a quiet history reads as measured rather than missing.
Tracked since 2026-09-07.
Market structure by timeframe, read from real bars. A bias per timeframe rather than a forecast — timeframes disagreeing is information, not noise.
The questions worth asking about any verdict on this page, answered plainly.
No. HTR reads the fund's filed holdings and screens each one, then reports the result by weight. A fund marketed as Islamic still gets the same look-through as any other.
It is the share of the fund whose holdings HTR cannot cover far enough to rate. It is reported as unrated rather than counted as compliant, because a holding nobody screened should not look like one that passed.
It matters, and it is noted, but it does not replace the look-through. The board's judgement and the holdings screen are shown separately so you can see when they agree and when they do not.
When the fund files new holdings, and on a rolling basis besides. The date on the verdict above is the last time this fund was actually recomputed.
Open research, not a fatwa. HTR applies published screening standards to filings and publishes what they say, including when they disagree. Nothing here is financial advice or a recommendation to buy or sell. Verdicts can change when new filings land.
Same screen, different answers. Comparison is where the standards disagreeing becomes useful rather than confusing.
Peer screening computing — it will appear here on its own.
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.