UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-7404
Van Kampen California Value Municipal Income Trust
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(Exact name of registrant as specified in charter)
1221 Avenue of the Americas, New York, New York 10020
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(Address of principal executive offices) (Zip code)
Ronald Robison
1221 Avenue of the Americas, New York, New York 10020
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(Name and address of agent for service)
Registrant's telephone number, including area code: 212-762-4000
Date of fiscal year end: 10/31
Date of reporting period: 7/31/05
Item 1. Schedule of Investments.
The Trust's schedule of investments as of the close of the reporting period
prepared pursuant to Rule 12-12 of Regulation S-X is as follows:
VAN KAMPEN CALIFORNIA VALUE MUNICIPAL INCOME TRUST
PORTFOLIO OF INVESTMENTS JULY 31, 2005
PAR
AMOUNT
(000) DESCRIPTION COUPON MATURITY VALUE
------- ----------- ------- -------- -------------
MUNICIPAL BONDS 155.6%
CALIFORNIA 150.1%
$ 1,020 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) *% 08/01/17 $ 610,603
2,000 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/21 973,420
1,610 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/22 740,455
2,390 Abag Fin Auth For Nonprofit Corp CA Ctf Part Childrens Hosp
Med Ctr (AMBAC Insd) 5.875 12/01/19 2,652,900
500 Abag Fin Auth For Nonprofit Corp CA Ctf Part Childrens Hosp
Med Ctr (AMBAC Insd) 6.000 12/01/29 554,400
1,000 Abag Fin Auth For Nonprofit Corp CA Insd Rev Ctf Lincoln
Glen Manor Sr Citizens (CA MTG Insd) 6.100 02/15/25 1,062,970
3,000 Abag Fin Auth For Nonprofit Corp CA Multi-Family Rev Hsg
Utd Dominion Ser A Rfdg (AMT) (Asset Gty Insd) 6.400 08/15/30 3,205,110
1,000 Abag Fin Auth For Nonprofit Corp CA Multi-Family Rev Hsg
Utd Dominion Ser B Rfdg (Asset Gty Insd) 6.250 08/15/30 1,068,990
3,540 Anaheim, CA Pub Fin Auth Lease Rev Cap Apprec Pub Impt Proj
Ser C (FSA Insd) * 09/01/32 956,402
1,000 Bakersfield, CA Ctf Part Convention Ctr Expansion Proj
(MBIA Insd) 5.875 04/01/22 1,054,050
2,790 Banning, CA Cmnty Redev Agy Tax Alloc Merged Downtown
(Radian Insd) 5.000 08/01/23 2,885,697
2,510 Bay Area Govt Assn CA Lease West Sacramento Ser A (XLCA
Insd) (a) 5.000 09/01/24 2,628,422
4,000 Bay Area Toll Auth CA Toll Brdg Rev San Francisco Bay Area
Ser D 5.000 04/01/17 4,285,880
1,000 Benicia, CA Uni Sch Dist Ser B (MBIA Insd) * 08/01/18 527,290
1,500 Beverly Hills, CA Pub Fin Auth Lease Rev Ser A (MBIA Insd) 5.250 06/01/12 1,661,235
1,610 Blythe, CA Redev Agy Redev Proj No 1 Tax Alloc Ser A Rfdg
(a) 7.500 05/01/23 1,658,075
1,725 Bonita, CA Uni Sch Dist Election 2004 Ser A (MBIA Insd) (a) 5.250 08/01/22 1,884,666
1,055 Borrego, CA Wtr Dist Ctf Part Wtr Sys Acquisition (a) 7.000 04/01/27 1,103,171
1,390 Brea & Olinda, CA Uni Sch Dist Ctf Part Ser A Rfdg (FSA
Insd) (a) 5.500 08/01/19 1,539,925
1,510 Brea & Olinda, CA Uni Sch Dist Ctf Part Ser A Rfdg (FSA
Insd) (a) 5.500 08/01/20 1,666,345
3,535 Brea, CA Redev Agy Tax Alloc Ser A Rfdg (AMBAC Insd) (a) 5.500 08/01/20 3,896,383
2,000 Burbank, CA Pub Fin Auth Rev Golden State Redev Proj Ser A
(AMBAC Insd) 5.250 12/01/19 2,173,460
1,500 Burbank, CA Pub Fin Auth Rev Golden State Redev Proj Ser A
(AMBAC Insd) 5.250 12/01/23 1,617,960
2,060 Burbank, CA Wastewtr Treatment Rev Ser A (AMBAC Insd) 5.000 06/01/29 2,168,850
2,060 Calexico, CA Uni Sch Dist Ser A (MBIA Insd) (a) 5.000 08/01/27 2,181,725
2,000 California Edl Fac Auth Rev CA College Arts 5.000 06/01/35 2,005,260
3,000 California Edl Fac Auth Rev Golden Gate Univ 5.000 10/01/36 3,008,100
1,250 California Edl Fac Auth Rev Mills College Ser A 5.000 09/01/34 1,285,263
1,000 California Edl Fac Auth Rev Pitzer College Ser A 5.000 04/01/35 1,025,070
2,000 California Edl Fac Auth Rev Pooled College & Univ Proj Ser B 6.750 06/01/30 2,178,300
2,000 California Edl Fac Auth Rev Pooled College & Univ Proj Ser B 5.250 04/01/24 2,036,640
1,000 California Edl Fac Auth Rev Pooled College & Univ Ser B 6.625 06/01/20 1,099,470
960 California Edl Fac Auth Rev Student Ln CA Ln Pgm Ser A (AMT)
(MBIA Insd) 6.000 03/01/16 1,006,195
2,000 California Health Facs Fing Ref Cedars Sinai Med Ctr 5.000 11/15/34 2,051,540
1,000 California Hlth Fac Fin Auth Rev Cedars Sinai Med Ctr 5.000 11/15/27 1,034,010
2,500 California Hlth Fac Fin Auth Rev Cedars Sinai Med Ctr Ser A
(Prerefunded @ 12/01/09) 6.125 12/01/19 2,736,325
105 California Hlth Fac Fin Auth Rev Hlth Fac Small Fac Ln Ser A
(CA MTG Insd) 6.700 03/01/11 105,258
180 California Hlth Fac Fin Auth Rev Hlth Fac Small Fac Ln Ser A
(CA MTG Insd) 6.750 03/01/20 180,520
2,500 California Hlth Fac Fin Auth Rev Insd Hlth Fac Vlycare Ser A
(CA MTG Insd) 6.125 05/01/12 2,504,675
2,000 California Hsg Fin Agy Rev Multi-Family Hsg III Ser A (AMT)
(MBIA Insd) 5.850 08/01/17 2,069,080
2,000 California Infrastructure & Econ Dev Bk Rev Bay Area Toll Brdg
First Lien Ser A (FGIC Insd) 5.000 07/01/29 2,104,740
1,000 California Pollutn Ctl Fin Auth Pollutn Ctl Rev Gas & Elec Ser A
Rfdg (MBIA Insd) 5.900 06/01/14 1,158,550
10,700 California Pollutn Ctl Fin Auth Pollutn Ctl Rev Southn CA Edison
Co (AMT) (AMBAC Insd) 6.000 07/01/27 10,733,170
1,000 California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt
Inc Proj Ser B (AMT) 5.000 07/01/27 989,450
85 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd
Secs Pgm Ser B (AMT) (GNMA Collateralized) 6.150 06/01/20 85,817
20 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd
Secs Pgm Ser C (AMT) (GNMA Collateralized) 7.500 08/01/27 20,419
35 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd
Secs Ser A2 (AMT) (GNMA Collateralized) 7.950 12/01/24 35,644
125 California Rural Home Mtg Fin Auth Single Family Mtg Rev Pgm Ser
B (AMT) (GNMA Collateralized) 6.250 12/01/31 126,239
25 California Rural Home Mtg Fin Auth Single Family Mtg Rev Ser C
(AMT) (GNMA Collateralized) 7.800 02/01/28 25,587
1,060 California Spl Dist Assn Fin Corp Ctf Part Spl Dist Fin Pgm Ser
KK (FSA Insd) (a) 5.800 11/01/29 1,165,141
2,110 California Spl Dist Fin Prog Ser 00 (MBIA Insd) (a) 5.250 12/01/26 2,261,751
2,000 California St (CIFG Insd) 5.000 10/01/22 2,088,640
1,000 California St (FGIC Insd) 5.000 10/01/23 1,044,430
1,000 California St (MBIA Insd) (a) 5.000 02/01/26 1,049,400
4,000 California St Dept Wtr Res Pwr Ser A (AMBAC Insd) 5.500 05/01/16 4,464,240
835 California St Dept Wtr Res Rev Ser W 5.500 12/01/17 925,405
1,600 California St Prin Muni Rcpts (XLCA Insd) (a) * 09/01/09 1,402,224
1,000 California St Pub Wks Brd Dept Corrections Ser C 5.500 06/01/23 1,094,650
2,205 California St Pub Wks Brd Lease Rev Dept Corrections Ser E Rfdg
(XLCA Insd) 5.000 06/01/18 2,349,935
1,000 California St Pub Wks Brd Lease Rev Dept Hlth Svc Ser A
(MBIA Insd) 5.750 11/01/24 1,096,810
6,000 California St Pub Wks Brd Univ CA Institute Proj C 5.000 04/01/26 6,302,460
1,255 California St Rfdg (XLCA Insd) (a) 5.500 03/01/11 1,383,914
2,340 California St Rfdg (FGIC Insd) 5.000 02/01/23 2,438,069
900 California St Vet Bd Ser BH (AMT) (FSA Insd) 5.400 12/01/15 949,887
2,100 California St Vet Bd Ser BH (AMT) (FSA Insd) 5.400 12/01/16 2,216,403
960 California St Vet Ser BJ (AMT) 5.700 12/01/32 993,408
2,000 California Stwide Cmntys Dev Auth Rev Daughters of Charity Health
Ser A 5.250 07/01/30 2,104,180
1,355 California Stwide Cmntys Dev Auth Rev Daughters of Charity Hlth
Ser A 5.250 07/01/35 1,423,495
1,325 California Stwide Cmntys Dev Auth Wtr & Wastewtr Rev Pooled Fin
Pgm Ser B (FSA Insd) 5.250 10/01/23 1,447,616
1,280 California Stwide Cmntys Dev Auth Wtr Rev Pooled Fin Prog Ser C
(FSA Insd) 5.250 10/01/28 1,373,453
2,000 California Stwide Cmntys Dev Auth Ctf Part (Acquired 11/23/99,
Cost $2,000,000) (c) 7.250 11/01/29 2,099,860
2,000 Campbell, CA Redev Agy Tax Alloc Ctr Campbell Redev Proj Ser A
(Prerefunded @ 10/01/09) 6.550 10/01/32 2,275,650
1,595 Cardiff, CA Sch Dist Cap Apprec (FGIC Insd) * 08/01/24 660,250
1,675 Cardiff, CA Sch Dist Cap Apprec (FGIC Insd) (a) * 08/01/25 658,057
2,000 Carson, CA Redev Agy Tax Alloc Ser A Rfdg (MBIA Insd) 5.000 10/01/23 2,129,260
855 Cathedral City, CA Ltd Oblig Cove Impt Dist 04 02 (b) 5.000 09/02/23 854,453
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd)
(a) * 08/01/27 384,513
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd)
(a) * 08/01/28 364,354
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd)
(a) * 08/01/30 325,760
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd)
(a) * 08/01/31 308,878
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd)
(a) * 08/01/32 293,536
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd)
(a) * 08/01/33 278,910
2,000 Central Vly Fin Auth CA Cogeneration Proj Rev Carson Ice-Gen Proj
Rev (MBIA Insd) 5.000 07/01/17 2,112,380
220 Cerritos, CA Cmnty College Dist Election 2004 Ser A (MBIA Insd)
(a) 5.000 08/01/27 232,661
2,920 Cerritos, CA Cmnty College Dist Election 2004 Ser A (Prerefunded
@ 8/01/13) (MBIA Insd) (a) 5.000 08/01/27 3,232,236
1,000 Chaffey Cmnty Clg Dist CA Election of 2002 Ser B (MBIA Insd) 5.000 06/01/24 1,065,120
2,500 Chaffey, CA Uni High Sch Dist Ser C (FSA Insd) 5.000 05/01/27 2,630,225
1,440 Chino Basin, CA Regl Fin Auth Rev Muni Wtr Dist Swr Sys Proj
(AMBAC Insd) 7.000 08/01/08 1,601,640
1,700 Chino Vly Uni Sch Dist CA Ctf Part Ser A Rfdg (FSA Insd) 5.375 09/01/20 1,862,469
2,000 Chula Vista, CA Indl Dev Rev San Diego Gas Ser A 5.300 07/01/21 2,138,980
1,000 Chula Vista, CA Pub Fin Auth Rev Ser A (MBIA Insd) (b) 5.000 09/01/29 1,054,680
2,385 Chula Vista, CA Redev Agy Tax Alloc Sr Bayfront Ser D Rfdg 8.625 09/01/24 2,569,742
1,605 Coachella, CA Fin Auth Tax Alloc Rev Redev Proj 4 Ser B Rfdg
(XLCA Insd) 5.250 09/01/34 1,719,164
1,000 Coachella, CA Redev Agy Tax Alloc Proj Area No 3 Rfdg 5.875 12/01/28 1,027,520
2,900 Colton, CA Jt Uni Sch Dist Ser A (FGIC Insd) 5.500 08/01/22 3,271,722
2,000 Colton, CA Redev Agy Tax Alloc Mt Vernon Corridor Redev Proj 6.300 09/01/36 2,127,580
2,000 Commerce, CA Jt Pwr Fin Auth Lease Rev Cmnty Ctr Proj (XLCA Insd) 5.000 10/01/34 2,078,160
1,230 Compton, CA Uni Sch Dist Election of 2002 Ser B (MBIA Insd) 5.500 06/01/25 1,371,499
1,110 Compton, CA Uni Sch Dist Election of 2002 Ser B (MBIA Insd) 5.000 06/01/29 1,173,681
1,965 Contra Costa Cnty, CA Ctf Part Merrithew Mem Hosp Proj Rfdg (MBIA
Insd) 5.500 11/01/22 2,093,825
1,000 Corona CA Ctf Part Clearwater Cogeneration Proj (MBIA Insd) 5.000 09/01/17 1,065,290
1,250 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) (d) * 09/01/16 779,025
1,595 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) * 09/01/17 944,687
1,735 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) (a) * 09/01/18 975,243
2,215 Cotati Rohnert Pk, CA Uni Sch Dist Ser A (FGIC Insd) 5.000 08/01/22 2,372,575
1,365 Cotati Rohnert Pk, CA Uni Sch Dist Ser B (FGIC Insd) 5.000 08/01/18 1,481,926
1,360 Csuci Fin Auth Rev CA East Campus Cmnty Ser A (LOC -Citibank)
(MBIA Insd) 5.125 09/01/21 1,457,090
615 Davis, CA Pub Fac Fin Auth Loc Agy Rev Mace Ranch Area Ser A 6.500 09/01/15 648,733
1,245 Duarte, CA Multi-Family Rev Hsg Heritage Park Apt Ser A (AMT)
(FNMA Collateralized) 5.850 05/01/30 1,296,456
1,000 Duarte, CA Redev Agy Tax Alloc Davis Addition Proj Area Rfdg 6.700 09/01/14 1,061,880
1,000 East Bay, CA Muni Util Dist Wtr Sys Rev (MBIA Insd) 5.000 06/01/21 1,061,720
4,445 East Bay, CA Muni Util Dist Wtr Sys Rev Sub 5.250 06/01/19 4,723,968
1,000 El Monte, CA Wtr Auth Rev Wtr Sys Proj (AMBAC Insd) 5.600 09/01/29 1,108,590
1,000 El Monte, CA Wtr Auth Rev Wtr Sys Proj (AMBAC Insd) 5.600 09/01/34 1,108,590
1,220 Emeryville, CA Pub Fin Auth Rev Assmt Dist Refin 5.900 09/02/21 1,245,071
3,000 Fairfield Suisun, CA Uni Sch Dist Spl Tax Cmnty Fac Dist No 5 New
Sch (FSA Insd) 5.375 08/15/29 3,221,370
5,155 Florin, CA Res Consv Dist Cap Impt Elk Grove Wtr Svc Ser A (MBIA
Insd) 5.000 09/01/33 5,413,162
1,010 Folsom Cordova, CA Uni Sch Dist Fac Impt Dist No 1 Cap Apprec Ser
A (AMBAC Insd) (a) * 10/01/19 530,149
1,060 Folsom Cordova, CA Uni Sch Dist Fac Impt Dist No 1 Cap Apprec Ser
A (AMBAC Insd) (a) * 10/01/21 500,850
2,000 Folsom, CA Spl Tax Cmnty Fac Dist No 2 Rfdg (Connie Lee Insd) 5.250 12/01/19 2,134,880
1,950 Fontana, CA Redev Agy Tax Alloc Southwest Indl Park Proj (MBIA
Insd) 5.200 09/01/30 2,058,245
10,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/25 3,253,400
15,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/26 4,602,000
10,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/30 2,405,900
5,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/31 1,131,950
2,950 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Sr Lien
Ser A (Escrowed to Maturity) * 01/01/27 1,137,107
5,500 Foothill/Eastern Corridor Agy CA Toll Rd Rev Conv Cap Apprec Rfdg
(e) 0/5.875 01/15/27 4,669,170
1,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Rfdg 5.750 01/15/40 1,025,150
1,000 Galt Schs Jt Pwrs Auth CA Rev High Sch & Elem Sch Ser A Rfdg
(MBIA Insd) 5.750 11/01/16 1,079,500
1,115 Garden Grove, CA Pub Fin Auth Rev Ctf Part Wtr Svc Cap Impt Pgm
(FSA Insd) 5.000 12/15/23 1,180,395
2,500 Glendale, CA Uni Sch Dist Ser C (FSA Insd) 5.500 09/01/19 2,729,050
1,680 Glendale, CA Uni Sch Dist Ser D (MBIA Insd) (a) 5.250 09/01/17 1,830,780
2,820 Golden St Tob Sec Corp CA Asset Bkd Ser A 1 6.625 06/01/40 3,224,557
1,000 Golden St Tob Sec Corp CA Settlement Rev Ser 2003 A-1 6.250 06/01/33 1,115,500
3,725 Golden St Tob Sec Enhanced Asset Bkd B (Prerefunded @ 6/01/13)
(AMBAC Insd) 5.000 06/01/43 4,057,531
2,500 Golden St, CA Tob Sec Corp Tob Settlement Rev Enhanced Asset Bkd
Ser A (b) 5.000 06/01/45 2,569,100
2,000 Hesperia, CA Cmnty Redev Agy Proj Ser A Rfdg (XLCA Insd) 5.000 09/01/35 2,089,380
1,000 Huntington Park, CA Pub Fin Auth Lease Rev Wastewtr Sys Proj Ser A 6.200 10/01/25 1,041,220
2,000 Imperial Irr Dist CA Ctf Part Elec Sys Proj (FSA Insd) 5.250 11/01/23 2,155,940
2,000 Industry, CA Urban Dev Agy Tax Alloc Civic Rec Indl No 1 (MBIA
Insd) 5.500 05/01/14 2,104,840
2,435 Irvine, CA Pub Fac & Infrastructure Auth Assmt Rev Ser B (AMBAC
Insd) 5.000 09/02/22 2,512,141
1,000 Kern, CA Cmnty College Sch Fac Impt Dist Mammoth Campus/Kern
Cmnty (AMBAC Insd) (a) * 08/01/22 459,910
1,000 La Quinta, CA Fin Auth Loc Ser A (AMBAC Insd) 5.250 09/01/24 1,089,260
1,420 La Quinta, CA Redev Agy Tax Redev Proj Area No 1 (AMBAC Insd) 5.000 09/01/22 1,503,397
1,500 La Quinta, CA Redev Agy Tax Redev Proj Area No 1 (AMBAC Insd) 5.125 09/01/32 1,588,530
1,000 Laguna Hills, CA Ctf Part Cmnty Ctr Proj (MBIA Insd) 5.000 12/01/18 1,068,350
1,105 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/20 566,699
1,145 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/21 557,283
1,020 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) * 08/01/24 421,841
1,255 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/25 492,575
1,000 Loma Linda, CA Redev Agy Tax Loma Linda Redev Proj Rfdg (MBIA
Insd) 5.125 07/01/30 1,067,900
1,000 Long Beach, CA Bd Fin Auth Lease Rev Rainbow Harbor Refin Proj
Ser A (AMBAC Insd) 5.250 05/01/24 1,070,540
1,685 Long Beach, CA Bd Fin Auth North Long Beach Redev Proj Ser A
(AMBAC Insd) 5.375 08/01/21 1,837,155
3,555 Long Beach, CA Hbr Rev Ser A (AMT) (FGIC Insd) 5.250 05/15/18 3,752,089
1,800 Long Beach, CA Hbr Rev Ser A Rfdg (AMT) (MBIA Insd) 5.000 05/15/25 1,884,348
2,000 Los Angeles Cnty, CA Met Tran Auth Sales Tax Rev Prop A First
Tier Sr Ser C Rfdg (AMBAC Insd) 5.000 07/01/23 2,112,880
1,200 Los Angeles Cnty, CA Sch Regionalized Business Svc Ctf Part Cap
Apprec Pooled Fin Ser A (AMBAC Insd) * 08/01/26 441,972
2,755 Los Angeles Cnty, CA Sch Ser B (MBIA Insd) 5.000 11/01/24 2,908,343
2,000 Los Angeles, CA Cmnty Redev Agy Cmnty Redev Fin Auth Rev Bunker
Hill Proj Ser A (FSA Insd) 5.000 12/01/27 2,104,280
1,900 Los Angeles, CA Ctf Part 5.700 02/01/18 1,988,787
1,000 Los Angeles, CA Ctf Part Dept Pub Social Svcs Ser A (AMBAC Insd) 5.500 08/01/31 1,079,730
3,000 Los Angeles, CA Ctf Part Sr Sonnenblick Del Rio W L. A. (AMBAC
Insd) 6.000 11/01/19 3,396,690
2,940 Los Angeles, CA Multi-Family Rev Hsg Earthquake Rehab Proj Ser A
(AMT) (FNMA Collateralized) 5.700 12/01/27 2,994,508
205 Los Angeles, CA Single Family Home Mtg Rev Pgm Ser A (AMT) (GNMA
Collateralized) 6.875 06/01/25 205,092
1,000 Los Angeles, CA Wtr & Pwr Rev Ser A 5.250 07/01/18 1,014,440
1,000 Los Angeles, CA Wtr & Pwr Rev Ser A (MBIA Insd) 5.375 07/01/18 1,090,820
1,190 Lynwood, CA Util Auth Enterp Rev (FSA Insd) (a) 5.000 06/01/25 1,259,401
3,650 Manhattan Beach, CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 09/01/22 1,666,736
2,000 Mendocino Cnty, CA Ctf Part Cnty Pub Fac Corp (MBIA Insd) 5.250 06/01/30 2,137,520
3,400 Metropolitan Wtr Dist Southn CA Auth Ser B2 (FGIC Insd) 5.000 10/01/26 3,587,510
3,720 Midpeninsula Regl Open Space Dist CA Fin Auth Rev (AMBAC Insd) (a) * 08/01/27 1,035,313
3,240 Midpeninsula Regl Open Space Dist CA Fin Auth Rev Cap Apprec
Second Issue (AMBAC Insd) * 08/01/26 959,429
1,710 Modesto, CA Irr Dist Ctf Part Cap Impts Ser A (FSA Insd) 5.250 07/01/17 1,858,702
2,000 Montclair, CA Redev Agy Mobile Home Pk Rev Hacienda Mobile Home
Pk Proj 6.000 11/15/22 2,118,840
3,180 Mount Diablo, CA Uni Sch Dist (FSA Insd) 5.000 08/01/26 3,334,007
1,110 Mountain View Los Altos, CA Uni High Sch Dist Cap Apprec Ser D
(FSA Insd) (a) * 08/01/24 459,751
1,730 National City, CA Cmnty Dev Commn Tax Alloc National City Redev
Proj A (AMBAC Insd) (a) 5.500 08/01/32 1,907,965
1,670 National City, CA Cmnty Dev Tax Alloc Redev Proj Ser B Rfdg
(AMBAC Insd) (a) 5.000 08/01/25 1,766,443
2,000 Needles, CA Pub Util Auth Util Sys Acquisition Proj Ser A 6.500 02/01/22 2,053,060
3,330 Novato, CA Uni Sch Dist (FSA Insd) 5.000 08/01/27 3,526,770
1,225 Novato, CA Uni Sch Dist (FSA Insd) 5.000 08/01/28 1,296,442
1,000 Oakland, CA Uni Sch Dist Alameda Cnty (FSA Insd) 5.000 08/01/17 1,055,120
995 Oceanside, CA Cmnty Fac No 2001-1 Morro Hills Dev 5.500 09/01/34 999,537
3,000 Oxnard, CA Harbor Dist Rev Ser B 6.000 08/01/24 3,170,610
1,000 Oxnard, CA Uni High Sch Dist Ser A Rfdg (MBIA Insd) 6.200 08/01/30 1,181,550
1,965 Pacifica, CA Wastewtr Rev Rfdg (AMBAC Insd) (a) 5.250 10/01/22 2,141,693
1,230 Palm Desert, CA Fin Auth Tax Alloc Rev Proj Area No 2 Ser A Rfdg
(MBIA Insd) (a) 5.000 08/01/21 1,305,522
1,100 Pasadena, CA Area Cmnty College Dist Election of 2002 Ser A (FGIC
Insd) 5.000 06/01/21 1,174,866
870 Pasadena, CA Spl Tax Cmnty Fac Dist No 1 Civic Ctr West (Escrowed
to Maturity) * 12/01/07 775,588
1,040 Perris, CA Pub Fin Auth Rev Tax Alloc Ser A (MBIA Insd) (a) 5.000 10/01/24 1,097,460
1,000 Perris, CA Pub Fin Auth Rev Tax Alloc Ser A (MBIA Insd) 5.000 10/01/31 1,049,060
1,375 Pittsburg, CA Redev Agy Tax Alloc Los Medanos Cmnty Dev Proj
(AMBAC Insd) * 08/01/26 511,858
1,500 Placentia Yorba Linda, CA Uni Ser A (FGIC Insd) 5.000 08/01/26 1,572,645
1,000 Pomona, CA Ctf Part Mission Promenade Proj Ser AE (AMBAC Insd) 5.375 10/01/32 1,076,030
3,350 Port Oakland, CA Port Rev Ser G (AMT) (MBIA Insd) 5.375 11/01/25 3,535,222
3,000 Port Oakland, CA Ser N Rfdg (AMT) (MBIA Insd) 5.000 11/01/22 3,117,180
1,000 Poway, CA Redev Agy Tax Alloc Paguay Redev Proj Ser A (MBIA Insd) 5.000 06/15/33 1,042,580
2,000 Rancho Cordova Cmnty Fac Dist CA Spl Tax No 2003-1 Sunridge
Anatolia 6.000 09/01/24 2,060,640
1,000 Rancho Cucamonga, CA Redev Agy Tax Alloc Rancho Redev Proj (FSA
Insd) 5.250 09/01/20 1,069,170
2,540 Rancho Mirage, CA Redev Agy Tax Alloc Redev Plan 1984 Proj Ser
A-E (MBIA Insd) 5.250 04/01/33 2,691,308
1,220 Rancho Mirage, CA Redev Agy Tax Redev Plan 1984 Proj Ser A 1
(MBIA Insd) 5.000 04/01/26 1,268,654
1,000 Redlands, CA Lease Rev Ctf Partn Rfdg (AMBAC Insd) 5.000 09/01/17 1,065,290
2,800 Redlands, CA Redev Agy Tax Alloc Redev Proj Ser A Rfdg (MBIA Insd) 4.750 08/01/21 2,863,168
1,000 Redondo Beach, CA Pub Fin Auth Rev South Bay Ctr Redev Proj 7.000 07/01/16 1,042,040
4,000 Redwood City, CA Sch Dist (FGIC Insd) 5.000 07/15/23 4,229,200
3,000 Redwood City, CA Sch Dist (FGIC Insd) 5.000 07/15/27 3,142,590
900 Richmond, CA Rev YMCA East Bay Proj Rfdg 7.250 06/01/17 931,599
2,045 Riverside Cnty, CA Ctf Part Cap Impt Family Law Ser A Rfdg (FGIC
Insd) (a) 5.000 11/01/24 2,163,446
1,615 Riverside Cnty, CA Ctf Part Historic Courthouse Ser B Rfdg (FGIC
Insd) (a) 5.000 11/01/24 1,708,541
1,960 Riverside Cnty, CA Ctf Part Cap Impt Family Law Ser A (FGIC Insd)
(a) 5.000 11/01/23 2,076,855
1,505 Riverside Cnty, CA Ctf Part Historic Ct Hse Ser B Rfdg (FGIC
Insd) (a) 5.000 11/01/23 1,594,728
1,650 Roseville, CA Jt Uni High Sch Dist Ser B (FGIC Insd) * 06/01/20 816,222
2,000 Sacramento Cnty, CA Santn Dist Fin Auth Rev Ser A Rfdg (AMBAC
Insd) 5.500 12/01/16 2,283,980
1,360 Sacramento Cnty, CA Wtr Fin Auth Rev Agy Zones 40 41 Wtr Sys Proj
(AMBAC Insd) (a) 5.000 06/01/17 1,475,722
2,000 Sacramento, CA City Fin Auth City Hall & Redev Proj Ser A
(Prerefunded @ 12/01/12) (FSA Insd) 5.000 12/01/28 2,084,000
3,750 Sacramento, CA City Fin Auth Rev Cap Impt (AMBAC Insd) 5.000 12/01/33 3,917,400
1,000 Salinas Vly CA Solid Waste Auth Rev (AMT) (AMBAC Insd) 5.250 08/01/27 1,054,160
2,000 Salinas Vly, CA Solid Waste Auth Rev (AMT) (AMBAC Insd) 5.250 08/01/31 2,100,920
1,000 San Bernardino Cnty, CA Ctf Part Med Cent Fin Proj (MBIA Insd) 5.000 08/01/28 1,035,570
2,000 San Bernardino, CA Jt Pwrs Fin Auth Ctf Part (MBIA Insd) 5.500 09/01/20 2,182,600
2,500 San Bernardino, CA Redev Agy Tax Alloc San Sevaine Redev Proj Ser
A 7.000 09/01/24 2,737,550
1,830 San Diego Cnty, CA Ctf Part Edgemoor Proj & Regl Sys Rfdg (AMBAC
Insd) 5.000 02/01/25 1,931,272
6,000 San Diego Cnty, CA Wtr Auth Wtr Rev Ctf Part Ser B (Inverse Fltg)
(Prerefunded @ 04/27/06) (MBIA Insd) (f) 9.840 04/08/21 6,545,580
1,000 San Diego, CA Pub Fac Fin Auth Swr Rev (FGIC Insd) 5.000 05/15/20 1,011,630
2,500 San Diego, CA Redev Agy Centre City Redev Proj Ser A 6.400 09/01/25 2,654,650
1,000 San Diego, CA Uni Port Dist Ser B (MBIA Insd) 5.000 09/01/24 1,054,860
2,500 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rev Second Ser
30 Rfdg (XLCA Insd) 5.250 05/01/16 2,741,025
3,000 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rev Second Ser
Issue 12-A (AMT) (FGIC Insd) 5.800 05/01/21 3,087,540
1,185 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rev Second Ser
Issue 15B (MBIA Insd) 4.800 05/01/17 1,221,830
1,660 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rev Spl Fac
Lease Ser A (AMT) (FSA Insd) 6.125 01/01/27 1,791,024
2,000 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Ser 27A
Rfdg (AMT) (MBIA Insd) 5.250 05/01/26 2,085,980
3,000 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Ser 27A
Rfdg (AMT) (MBIA Insd) 5.250 05/01/31 3,118,170
3,115 San Francisco, CA City & Cnty Redev Agy Lease Rev George Moscone
(XLCA Insd) (a) * 07/01/12 2,413,533
2,130 San Francisco, CA City & Cnty Redev Agy Lease Rev George Moscone
(XLCA Insd) (a) * 07/01/14 1,497,241
6,000 San Jose, CA Fin Auth Lease Rev Convention Ctr Proj Ser F Rfdg
(MBIA Insd) 5.000 09/01/17 6,436,080
1,600 San Leandro, CA Ctf Part Lib & Fire Stations Fin (AMBAC Insd) 5.700 11/01/20 1,768,256
2,000 San Leandro, CA Ctf Part Lib & Fire Stations Fin (AMBAC Insd) 5.750 11/01/29 2,211,720
1,000 San Marcos, CA Pub Fac Auth Sub Tax Incrmnt Proj Area No 3 Ser A 6.750 10/01/30 1,087,120
1,020 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin
Proj Ser C (AMBAC Insd) (a) 5.000 08/01/19 1,096,021
1,070 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin
Proj Ser C (AMBAC Insd) (a) 5.000 08/01/20 1,145,210
1,120 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin
Proj Ser C (AMBAC Insd) (a) 5.000 08/01/21 1,194,939
1,175 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin
Proj Ser C (AMBAC Insd) (a) 4.750 08/01/22 1,218,111
1,230 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin
Proj Ser C (AMBAC Insd) (a) 4.750 08/01/23 1,270,073
1,295 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin
Proj Ser C (AMBAC Insd) (a) 4.750 08/01/24 1,332,944
1,000 Sanger, CA Uni Sch Dist Rfdg (MBIA Insd) 5.600 08/01/23 1,179,120
1,725 San Mateo, CA Uni High Sch Dist Rfdg (FSA Insd) 5.000 09/01/23 1,835,693
4,820 Santa Ana, CA Uni Sch Dist (MBIA Insd) 5.375 08/01/27 5,248,305
1,000 Santa Ana, CA Uni Sch Dist Ctf Part Cap Apprec Fin Proj (FSA Insd) * 04/01/36 213,250
1,370 Santa Monica, CA Cmnty College 2004 Election Ser A (MBIA Insd) 5.000 05/01/21 1,466,530
3,200 Semitropic Impt Dist Semitropic Wtr Storage Dist CA Wtr Ser A
(XLCA Insd) 5.125 12/01/35 3,362,144
1,005 Simi Vly, CA Cmnty Dev Agy Coml Sycamore Plaza II Rfdg (Acquired
7/28/98, Cost $1,005,000) (c) 6.000 09/01/12 1,036,497
1,220 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj
Rfdg (FGIC Insd) (a) 5.250 09/01/20 1,319,637
1,285 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj
Rfdg (FGIC Insd) (a) 5.250 09/01/21 1,388,108
1,350 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj
Rfdg (FGIC Insd) (a) 5.250 09/01/22 1,455,435
2,000 South Orange Cnty, CA Pub Fin Auth Reassmt Rev (FSA Insd) 5.800 09/02/18 2,209,360
1,640 South Tahoe, CA Jt Pwr Fin Auth Rev Tahoe Redev Proj Area 1-A
Rfdg (FSA Insd) 5.000 10/01/29 1,722,984
2,250 South Tahoe, CA Jt Pwr Fin Redev Proj Area No 1 Ser A (AMBAC Insd) 5.000 10/01/28 2,373,795
35 Southern CA Home Fin Auth Single Family Mtg Rev Ser A (AMT) (GNMA
Collateralized) 6.750 09/01/22 35,015
5,000 Southern CA Pub Pwr Auth Pwr Proj Rev Multi-Projs 6.750 07/01/12 5,861,950
930 Stanton, CA Multi-Family Rev Hsg Contl Garden Apts (AMT) (FNMA
Collateralized) 5.625 08/01/29 976,082
1,745 State Center, CA Cmnty Election 2002 Ser A (MBIA Insd) 5.500 08/01/28 1,940,615
1,000 Stockton, CA South Stockton Cmnty Fac Dist Spl Tax No 90-1 Rfdg 6.400 09/01/15 1,022,020
1,260 Sweetwater, CA Auth Wtr Rev (Prerefunded @ 4/01/10) (FSA Insd) 5.500 04/01/17 1,403,489
1,300 Taft, CA City Elem Sch Dist Ser A (MBIA Insd) (a) * 08/01/22 595,907
4,000 University of CA Ctf Part San Diego Campus Proj Ser A 5.250 01/01/32 4,188,680
10,000 University of CA Rev Hosp UCLA Med Ctr Ser A (AMBAC Insd) 5.250 05/15/30 10,686,800
1,000 University of CA Rev Resh Fac Ser E (AMBAC Insd) 5.000 09/01/19 1,068,890
2,000 Vacaville, CA Uni Sch Dist Election 2001 Rfdg (MBIA Insd) (b) 5.000 08/01/22 2,142,280
2,200 Ventura Cnty, CA Cmnty College Ser A (MBIA Insd) 5.500 08/01/23 2,473,922
2,000 Ventura Cnty, CA Ctf Part Pub Fin Auth I (FSA Insd) 5.250 08/15/15 2,143,760
1,000 Vista, CA Mobile Home Pk Rev Estrella De Oro Mobile Home Ser A
(Prerefunded @ 02/01/25) 5.875 02/01/28 1,082,390
1,000 Vista, CA Uni Sch Dist Ser A (FSA Insd) 5.000 08/01/23 1,057,440
3,520 Western Placer, CA Uni Sch Dist Cmnty Fac Dist No 1 (XLCA Insd)
(a) 5.000 09/01/34 3,683,152
2,000 Woodland, CA Fin Auth Lease Rev Cap Proj Rfdg (XLCA Insd) 5.000 03/01/25 2,100,160
-------------
504,295,503
-------------
PUERTO RICO 3.5%
5,000 Puerto Rico Comwlth Hwy & Tran Auth Hwy Rev Ser Y Rfdg (FSA Insd) 6.250 07/01/21 6,284,800
1,000 Puerto Rico Comwlth Hwy & Tran Rev Tran Rev Sub (FGIC Insd) 5.250 07/01/16 1,109,910
4,000 Puerto Rico Elec Pwr Auth Pwr Rev Ser II (XLCA Insd) 5.375 07/01/17 4,466,640
-------------
11,861,350
-------------
U. S. VIRGIN ISLANDS 2.0%
3,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A 6.375 10/01/19 3,400,020
2,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A 6.500 10/01/24 2,261,700
1,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A (ACA
Insd) 6.125 10/01/29 1,116,410
-------------
6,778,130
-------------
TOTAL LONG-TERM INVESTMENTS 155.6%
(Cost $489,684,392) 522,934,983
SHORT-TERM INVESTMENTS 1.9%
(Cost $6,400,000) 6,400,000
-------------
TOTAL INVESTMENTS 157.5%
(Cost $496,084,392) 529,334,983
LIABILITIES IN EXCESS OF OTHER ASSETS (3.9%) (13,173,917)
PREFERRED SHARES (INCLUDING ACCRUED DISTRIBUTIONS) (53.6%) (180,029,155)
-------------
NET ASSETS APPLICABLE TO COMMON SHARES 100.0% $ 336,131,911
=============
Percentages are calculated as a percentage of net assets applicable to
common shares.
* Zero coupon bond
(a) The Trust owns 100% of the bond issuance.
(b) Securities purchased on a when-issued or delayed delivery basis.
(c) These securities are restricted and may be resold only in transactions
exempt from registration which are normally those transactions with
qualified institutional buyers. Restricted securities comprise 0.9% of net
assets applicable to common shares.
(d) All or a portion of these securities have been physically segregated in
connection with open futures contracts.
(e) Security is a "step-up" bond where the coupon increases or steps up at a
predetermined date.
(f) An Inverse Floating Rate security is one where the coupon is inversely
indexed to a short-term floating interest rate multiplied by a specific
factor. As the floating rate rises, the coupon is reduced. Conversely, as
the floating rate declines, the coupon is increased. The price of these
securities may be more volatile than the price of a comparable fixed rate
security. These instruments are typically used by the Trust to enhance the
yield of the portfolio. All of the Trust's portfolio holdings, including
derivative instruments, are marked to market each day with the change in
value reflected in the unrealized appreciation/depreciation. Upon
disposition, a realized gain or loss is recognized accordingly.
ACA - American Capital Access
AMBAC - AMBAC Indemnity Corp.
AMT - Alternative Minimum Tax
Asset Gty - Asset Guaranty Insurance Co.
CA MTG - California Mortgage Insurance
CIFG - CDC IXIS Financial Guaranty
Connie Lee - Connie Lee Insurance Co.
FGIC - Financial Guaranty Insurance Co.
FNMA - Federal National Mortgage Association
FSA - Financial Security Assurance Inc.
GNMA - Government National Mortgage Association
LOC - Letter of Credit
MBIA - Municipal Bond Investors Assurance Corp.
Radian - Radian Asset Assurance
XLCA - XL Capital Assurance Inc.
Future contracts outstanding as of July 31, 2005:
SHORT CONTRACTS:
UNREALIZED
APPRECIATION/
CONTRACTS DEPRECIATION
--------- -------------
U.S. Treasury Notes 10-Year Futures September 05 (Current
Notional Value of $110,984 per contract) 218 $105,452
Item 2. Controls and Procedures.
(a) The Trust's principal executive officer and principal financial officer have
concluded that the Trust's disclosure controls and procedures are sufficient to
ensure that information required to be disclosed by the Trust in this Form N-Q
was recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commission's rules and forms, based
upon such officers' evaluation of these controls and procedures as of a date
within 90 days of the filing date of the report.
(b) There were no changes in the Trust's internal control over financial
reporting that occurred during the registrant's fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the Trust's
internal control over financial reporting.
Item 3. Exhibits.
(a) A certification for the Principal Executive Officer of the registrant is
attached hereto as part of EX-99.cert.
(b) A certification for the Principal Financial Officer of the registrant is
attached hereto as part of EX-99.cert.
SIGNATURES
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.
(Registrant) Van Kampen California Value Municipal Income Trust
By: /s/ Ronald E. Robison
---------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: September 19, 2005
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed by the following
persons on behalf of the registrant and in the capacities and on the dates
indicated.
By: /s/ Ronald E. Robison
---------------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: September 19, 2005
By: /s/ Phillip G. Goff
--------------------------
Name: Phillip G. Goff
Title: Principal Financial Officer
Date: September 19, 2005