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: 1/31/06
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 JANUARY 31, 2006 (UNAUDITED)
PAR
Amount
(000) Description Coupon Maturity Value
MUNICIPAL BONDS 154.0%
CALIFORNIA 149.3%
$ 1,020 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/17 $ 625,199
2,000 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/21 1,003,540
1,610 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/22 767,600
3,390 Abag Fin Auth For Nonprofit Corp CA Ctf Partn Childrens Hosp Med Ctr
(AMBAC Insd) 5.875% 12/01/19 3,699,575
500 Abag Fin Auth For Nonprofit Corp CA Ctf Partn Childrens Hosp Med Ctr
(AMBAC Insd) 6.000 12/01/29 546,605
2,000 Abag Fin Auth For Nonprofit Corp CA Insd Rev Ctf Lincoln Glen Manor Sr
Citizens (CA MTG Insd) 6.100 02/15/25 2,095,480
4,000 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 4,197,280
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 1,048,930
1,205 Alameda Cnty, CA Wtr Dist Rev Rfdg (MBIA Insd) 4.750 06/01/20 1,229,751
3,540 Anaheim, CA Pub Fin Auth Lease Rev Cap Apprec Pub Impt Proj Ser C
(FSA Insd) * 09/01/32 1,007,378
1,000 Bakersfield, CA Ctf Part Convention Ctr Expansion Proj (MBIA Insd) 5.875 04/01/22 1,037,460
2,790 Banning, CA Cmnty Redev Agy Tax Alloc Merged Downtown (Radian Insd) 5.000 08/01/23 2,858,355
2,510 Bay Area Govt Assn CA Lease West Sacramento Ser A (XLCA Insd) (a) 5.000 09/01/24 2,606,585
5,000 Bay Area Toll Auth CA Toll Brdg Rev San Francisco Bay Area Ser D 5.000 04/01/17 5,313,750
1,000 Benicia, CA Uni Sch Dist Ser B (MBIA Insd) * 08/01/18 535,390
1,725 Bonita, CA Uni Sch Dist Election 2004 Ser A (MBIA Insd) (a) 5.250 08/01/22 1,886,494
1,055 Borrego, CA Wtr Dist Ctf Partn Wtr Sys Acquisition (a) 7.000 04/01/27 1,093,254
1,390 Brea & Olinda, CA Uni Sch Dist Ctf Partn Ser A Rfdg (FSA Insd) (a) 5.500 08/01/19 1,528,124
1,510 Brea & Olinda, CA Uni Sch Dist Ctf Partn Ser A Rfdg (FSA Insd) (a) 5.500 08/01/20 1,660,049
3,535 Brea, CA Redev Agy Tax Alloc Ser A Rfdg (AMBAC Insd) (a) 5.500 08/01/20 3,875,173
250 Burbank, CA Cmnty Fac Dist Spl Tax No 2005-1 (b) 5.200 12/01/23 250,455
1,500 Burbank, CA Pub Fin Auth Rev Golden State Redev Proj Ser A (AMBAC Insd) 5.250 12/01/23 1,613,970
2,060 Burbank, CA Wastewtr Treatment Rev Ser A (AMBAC Insd) 5.000 06/01/29 2,138,774
2,060 Calexico, CA Uni Sch Dist Ser A (MBIA Insd) (a) 5.000 08/01/27 2,158,035
2,000 California Cnty, CA Tob Sec Agy Tob Asset Bkd Merced Cnty Ser A Rfdg 5.125 06/01/38 1,950,520
5,000 California Cnty, CA Tob Sec Agy Tob Asset Bkd Merced Cnty Ser A Rfdg 5.250 06/01/45 4,913,850
PAR
Amount
(000) Description Coupon Maturity Value
5,000 California Cnty, CA Tob Sec Agy Tob Asset Bkd Sonoma Cnty Corp Rfdg 5.125 06/01/38 4,876,300
2,000 California Ed Fac Auth Rev CA College Arts 5.000 06/01/35 1,992,240
3,000 California Ed Fac Auth Rev Golden Gate Univ 5.000 10/01/36 2,988,120
750 California Ed Fac Auth Rev Mills College Ser A 5.000 09/01/34 758,220
1,000 California Ed Fac Auth Rev Pitzer College Ser A 5.000 04/01/30 1,018,710
3,210 California Ed Fac Auth Rev Pitzer College Ser A 5.000 04/01/35 3,260,525
2,000 California Ed Fac Auth Rev Pooled College & Univ Proj Ser B 6.750 06/01/30 2,163,400
2,000 California Ed Fac Auth Rev Pooled College & Univ Proj Ser B 5.250 04/01/24 2,035,580
1,000 California Ed Fac Auth Rev Pooled College & Univ Ser B 6.625 06/01/20 1,087,280
1,200 California Ed Fac Auth Rev Student Ln CA Ln Pgm Ser A (AMT) (MBIA Insd) 6.000 03/01/16 1,246,320
1,500 California Ed Fac Auth Rev Univ of Redlands Ser A 5.000 10/01/31 1,526,955
2,000 California Hlth Fac Fin Auth Rev Cedars Sinai Med Ctr Rfdg 5.000 11/15/27 2,034,720
105 California Hlth Fac Fin Auth Rev Hlth Fac Small Fac Ln Ser A (CA MTG Insd) 6.700 03/01/11 105,243
180 California Hlth Fac Fin Auth Rev Hlth Fac Small Fac Ln Ser A (CA MTG Insd) 6.750 03/01/20 180,441
2,500 California Hlth Fac Fin Auth Rev Insd Hlth Fac Vlycare Ser A (CA MTG Insd) 6.125 05/01/12 2,504,350
4,000 California Hlth Fac Fin Auth Rev Cedars Sinai Med Ctr Rfdg 5.000 11/15/34 4,051,960
3,000 California Hsg Fin Agy Rev Multi-Family Hsg III Ser A (AMT) (MBIA Insd) 5.850 08/01/17 3,090,210
2,000 California Infrastructure & Econ Dev Bk Rev Bay Area Toll Brdg First
Lien Ser A (FGIC Insd) 5.000 07/01/29 2,078,380
1,000 California Pollutn Ctl Fin Auth Pollutn Ctl Rev Gas & Elec Ser A Rfdg
(MBIA Insd) 5.900 06/01/14 1,147,200
1,000 California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mngmt Inc
Proj Ser B (AMT) 5.000 07/01/27 998,650
2,500 California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt Inc
Proj Ser C (AMT) 5.125 11/01/23 2,554,775
65 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd Sec
Pgm Ser B (AMT) (GNMA Collateralized) 6.150 06/01/20 65,484
15 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd Sec
Pgm Ser C (AMT) (GNMA Collateralized) 7.500 08/01/27 15,271
15 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd Sec
Ser A2 (AMT) (GNMA Collateralized) 7.950 12/01/24 15,240
95 California Rural Home Mtg Fin Auth Single Family Mtg Rev Pgm Ser B (AMT)
(GNMA Collateralized) 6.250 12/01/31 95,734
35 California Rural Home Mtg Fin Auth Single Family Mtg Rev Ser C (AMT)
(GNMA Collateralized) 7.800 02/01/28 35,720
1,060 California Spl Dist Assn Fin Corp Ctf Part Spl Dist Fin Pgm Ser KK
(FSA Insd) (a) 5.800 11/01/29 1,147,885
2,110 California Spl Dist Fin Pgm Ser 00 (MBIA Insd) (a) 5.250 12/01/26 2,231,599
2,000 California St (CIFG Insd) 5.000 10/01/22 2,078,520
3,000 California St (FGIC Insd) 5.000 10/01/23 3,134,580
1,000 California St (MBIA Insd) (a) 5.000 02/01/26 1,044,150
835 California St Dept Wtr Res Rev Ser W 5.500 12/01/17 917,072
1,000 California St Pub Wks Brd Dept Corrections Ser C 5.500 06/01/23 1,080,750
2,340 California St Rfdg (FGIC Insd) 5.000 02/01/23 2,425,387
960 California St Vet Ser BJ (AMT) 5.700 12/01/32 985,968
PAR
Amount
(000) Description Coupon Maturity Value
4,355 California Statewide Cmnty Dev Auth Rev Daughters of Charity Hlth Ser A 5.250 07/01/35 4,466,052
3,000 California Statewide Cmnty Dev Auth Rev Daughters of Charity Hlth Ser A 5.250 07/01/30 3,079,470
3,000 California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth Ser A 5.000 03/01/35 3,037,230
1,325 California Statewide Cmnty Dev Auth Wtr & Wastewtr Rev Pooled Fin Pgm
Ser B (FSA Insd) 5.250 10/01/23 1,430,086
1,280 California Statewide Cmnty Dev Auth Wtr Rev Pooled Fin Pgm Ser C (FSA Insd) 5.250 10/01/28 1,358,195
1,595 Cardiff, CA Sch Dist Cap Apprec (FGIC Insd) (a) * 08/01/24 683,298
1,675 Cardiff, CA Sch Dist Cap Apprec (FGIC Insd) (a) * 08/01/25 682,830
2,000 Carson, CA Redev Agy Tax Alloc Ser A Rfdg (MBIA Insd) 5.000 10/01/23 2,108,420
1,105 Cathedral City, CA Impt Bd Act 1915 Ltd Oblig Cove Impt Dist 04 02 (a) 5.000 09/02/22 1,110,160
855 Cathedral City, CA Ltd Oblig Cove Impt Dist 04 02 5.000 09/02/23 852,486
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd) (a) * 08/01/27 400,300
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd) (a) * 08/01/28 381,312
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd) (a) * 08/01/30 344,325
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd) (a) * 08/01/31 326,932
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd) (a) * 08/01/32 310,299
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A (MBIA Insd) (a) * 08/01/33 294,393
2,000 Central Vly Fin Auth CA Cogeneration Proj Rev Carson Ice-Gen Proj Rev
(MBIA Insd) 5.000 07/01/17 2,090,360
220 Cerritos, CA Cmnty College Dist Election 2004 Ser A (MBIA Insd) (a) 5.000 08/01/27 230,470
2,500 Chaffey, CA Uni High Sch Dist Ser C (FSA Insd) 5.000 05/01/27 2,603,900
1,805 Channel Is Beach, CA Cmnty Svc Dist Swr Rev Ctf Partn Ser A (Radian
Insd) (a) 5.250 11/01/35 1,866,099
1,700 Chino Vly Uni Sch Dist CA Ctf Partn Ser A Rfdg (FSA Insd) 5.375 09/01/20 1,857,165
2,000 Chula Vista, CA Cmnty Fac Dist Spl Tax No 01-1 Impt Area Ser B San Miguel 5.350 09/01/26 2,001,940
2,000 Chula Vista, CA Indl Dev Rev San Diego Gas Ser A 5.300 07/01/21 2,128,740
1,000 Chula Vista, CA Pub Fin Auth Rev Ser A Rfdg (MBIA Insd) 5.000 09/01/29 1,038,930
2,335 Chula Vista, CA Redev Agy Tax Alloc Sr Bayfront Ser D Rfdg 8.625 09/01/24 2,449,228
1,605 Coachella, CA Fin Auth Tax Alloc Rev Redev Proj 4 Ser B Rfdg (XLCA Insd) 5.250 09/01/34 1,698,539
1,000 Coachella, CA Redev Agy Tax Alloc Proj Area No 3 Rfdg 5.875 12/01/28 1,019,670
2,900 Colton, CA Jt Uni Sch Dist Ser A (FGIC Insd) 5.500 08/01/22 3,216,361
2,000 Colton, CA Redev Agy Tax Alloc Mt Vernon Corridor Redev Proj 6.300 09/01/36 2,134,400
2,000 Commerce, CA Jt Pwr Fin Auth Lease Rev Cmnty Ctr Proj (XLCA Insd) 5.000 10/01/34 2,046,180
1,600 Commerce, CA Jt Pwr Fin Auth Lease Rev Cmnty Ctr Proj (XLCA Insd) 5.000 10/01/29 1,646,944
1,230 Compton, CA Uni Sch Dist Election of 2002 Ser B (MBIA Insd) 5.500 06/01/25 1,368,154
1,110 Compton, CA Uni Sch Dist Election of 2002 Ser B (MBIA Insd) 5.000 06/01/29 1,157,941
1,965 Contra Costa Cnty, CA Ctf Partn Merrithew Mem Hosp Proj Rfdg (MBIA Insd) 5.500 11/01/22 2,067,082
PAR
Amount
(000) Description Coupon Maturity Value
1,250 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) * 09/01/16 799,562
1,595 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) * 09/01/17 970,765
1,735 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) (a) * 09/01/18 1,006,439
1,360 Csuci Fin Auth Rev CA East Campus Cmnty Ser A (LOC -Citibank) (MBIA Insd) 5.125 09/01/21 1,450,766
615 Davis, CA Pub Fac Fin Auth Loc Agy Rev Mace Ranch Area Ser A 6.500 09/01/15 641,125
1,245 Duarte, CA Multi-Family Rev Hsg Heritage Pk Apt Ser A (AMT) (FNMA
Collateralized) 5.850 05/01/30 1,288,164
925 Duarte, CA Redev Agy Tax Alloc Davis Addition Proj Area Rfdg 6.700 09/01/14 969,687
2,000 East Bay, CA Muni Util Dist Wtr Sys Rev (MBIA Insd) 5.000 06/01/21 2,116,360
4,445 East Bay, CA Muni Util Dist Wtr Sys Rev Sub 5.250 06/01/19 4,664,227
1,280 El Cerrito, CA Redev Agy Tax Alloc Redev Proj Area Ser B Rfdg (AMT)
(MBIA Insd) (a) 5.250 07/01/15 1,364,006
1,000 El Monte, CA Wtr Auth Rev Wtr Sys Proj (AMBAC Insd) 5.600 09/01/29 1,090,970
1,000 El Monte, CA Wtr Auth Rev Wtr Sys Proj (AMBAC Insd) 5.600 09/01/34 1,090,970
1,220 Emeryville, CA Pub Fin Auth Rev Assmt Dist Refin 5.900 09/02/21 1,244,827
1,000 Emeryville, CA Pub Fin Auth Rev Shellmound Pk Redev & Hsg Proj Ser B
(MBIA Insd) 5.000 09/01/19 1,047,500
3,000 Fairfield Suisun, CA Uni Sch Dist Spl Tax Cmnty Fac Dist No 5 New Sch
(FSA Insd) 5.375 08/15/29 3,208,260
5,155 Florin, CA Res Consv Dist Cap Impt Elk Grove Wtr Svc Ser A (MBIA Insd) 5.000 09/01/33 5,327,744
1,010 Folsom Cordova, CA Uni Sch Dist Fac Impt Dist No 1 Cap Apprec Ser A
(AMBAC Insd) (a) * 10/01/19 551,995
1,060 Folsom Cordova, CA Uni Sch Dist Fac Impt Dist No 1 Cap Apprec Ser A
(AMBAC Insd) (a) * 10/01/21 520,640
3,000 Folsom, CA Spl Tax Cmnty Fac Dist No 2 Rfdg (Connie Lee Insd) 5.250 12/01/19 3,158,340
1,000 Fontana, CA Redev Agy Tax Alloc Southwest Indl Pk Proj (MBIA Insd) 5.000 09/01/22 1,042,240
1,950 Fontana, CA Redev Agy Tax Alloc Southwest Indl Pk Proj (MBIA Insd) 5.200 09/01/30 2,033,382
10,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/25 3,404,900
15,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/26 4,807,650
11,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/30 2,765,510
5,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/31 1,180,800
2,950 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Sr Lien Ser A
(Escrowed to Maturity) * 01/01/27 1,132,475
5,500 Foothill/Eastern Corridor Agy CA Toll Rd Rev Conv Cap Apprec Rfdg (d) 0/5.875 01/15/27 4,769,325
1,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Rfdg 5.750 01/15/40 1,024,490
1,000 Galt Schs Jt Pwrs Auth CA Rev High Sch & Elem Sch Ser A Rfdg
(MBIA Insd) 5.750 11/01/16 1,060,550
1,115 Garden Grove, CA Pub Fin Auth Rev Ctf Partn Wtr Svc Cap Impt
Pgm (FSA Insd) 5.000 12/15/23 1,172,434
2,500 Glendale, CA Uni Sch Dist Ser C (FSA Insd) 5.500 09/01/19 2,692,075
1,680 Glendale, CA Uni Sch Dist Ser D (MBIA Insd) (a) 5.250 09/01/17 1,814,182
3,460 Golden St Tob Sec Corp CA Settlement Rev Ser 2003 A-1 6.250 06/01/33 3,781,296
3,255 Golden St Tob Sec Corp CA Ser A-1 6.625 06/01/40 3,632,157
PAR
Amount
(000) Description Coupon Maturity Value
2,000 Golden St Tob Sec Corp CA Tob Settlement Rev Enhanced Asset Bkd Ser A 5.000 06/01/45 2,025,920
2,000 Hesperia, CA Cmnty Redev Agy Refin & Redev Proj Ser A (XLCA Insd) 5.000 09/01/35 2,057,460
1,000 Huntington Pk, CA Pub Fin Auth Lease Rev Wastewtr Sys Proj Ser A 6.200 10/01/25 1,031,530
3,000 Imperial Irr Dist CA Ctf Partn Elec Sys Proj (FSA Insd) 5.250 11/01/23 3,211,470
3,435 Irvine, CA Pub Fac & Infrastructure Auth Assmt Rev Ser B
(AMBAC Insd) (a) 5.000 09/02/22 3,542,344
800 Kern, CA Cmnty College Sch Fac Impt Dist Mammoth Campus/Kern Cmnty Ser
A (AMBAC Insd) (a) 5.000 08/01/19 852,104
1,000 Kern, CA Cmnty College Sch Fac Impt Dist Mammoth Campus/Kern Cmnty
(AMBAC Insd) (a) * 08/01/22 476,000
1,000 La Quinta, CA Fin Auth Loc Ser A (AMBAC Insd) 5.250 09/01/24 1,079,840
1,420 La Quinta, CA Redev Agy Tax Alloc Redev Proj Area No 1 (AMBAC Insd) 5.000 09/01/22 1,495,359
1,500 La Quinta, CA Redev Agy Tax Redev Proj Area No 1 (AMBAC Insd) 5.125 09/01/32 1,564,455
1,000 Laguna Hills, CA Ctf Partn Cmnty Ctr Proj (MBIA Insd) 5.000 12/01/18 1,064,470
1,185 Lake Elsinore, CA Uni Sch Dist Cmnty Fac Dist Spl Tax No 2005-1 Impt
Area Ser A 5.300 09/01/26 1,195,132
1,245 Lake Elsinore, CA Uni Sch Dist Cmnty Fac Dist Spl Tax No 2005-1 Impt
Area Ser A 5.400 09/01/35 1,246,320
1,105 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/20 577,142
1,145 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/21 567,519
1,020 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) * 08/01/24 430,307
1,255 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/25 503,393
1,000 Lathrop, CA Impt Bd Act 1915 Mossdale Vlg Assmt Dist 03-1 5.000 09/02/25 996,860
5,000 Loma Linda, CA Hosp Rev Loma Linda Univ Med Ctr Ser A 5.000 12/01/22 5,126,600
1,000 Loma Linda, CA Redev Agy Tax Loma Linda Redev Proj Rfdg (MBIA Insd) 5.125 07/01/30 1,054,930
1,000 Long Beach, CA Bd Fin Auth Lease Rev Rainbow Harbor Refin Proj Ser A
(AMBAC Insd) 5.250 05/01/24 1,059,030
1,685 Long Beach, CA Bd Fin Auth North Long Beach Redev Proj Ser A
(AMBAC Insd) 5.375 08/01/21 1,822,277
3,555 Long Beach, CA Hbr Rev Ser A (AMT) (FGIC Insd) 5.250 05/15/18 3,715,508
2,000 Los Angeles Cnty, CA Met Trans Auth Sales Tax Rev Prop A First Tier
Sr Ser C Rfdg (AMBAC Insd) 5.000 07/01/23 2,101,300
1,250 Los Angeles Cnty, CA Sch Regionalized Business Svc Ctf LA Cnty Sch
Pooled Fin Proj Ser A (FSA Insd) 5.000 09/01/28 1,293,388
1,200 Los Angeles Cnty, CA Sch Regionalized Business Svc Ctf Partn Cap
Apprec Pooled Fin Ser A (AMBAC Insd) * 08/01/26 458,196
2,755 Los Angeles Cnty, CA Sch Ser B (MBIA Insd) 5.000 11/01/24 2,887,047
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 2,084,700
1,900 Los Angeles, CA Ctf Partn 5.700 02/01/18 1,968,476
1,000 Los Angeles, CA Ctf Partn Dept Pub Social Svc Ser A (AMBAC Insd) 5.500 08/01/31 1,065,450
3,000 Los Angeles, CA Ctf Partn Sr Sonnenblick Del Rio W L A (AMBAC Insd) 6.000 11/01/19 3,348,060
2,000 Los Angeles, CA Dept Wtr & Pwr Sys Ser C (MBIA Insd) 5.000 07/01/26 2,091,460
PAR
Amount
(000) Description Coupon Maturity Value
2,465 Los Angeles, CA Multi-Family Rev Hsg Earthquake Rehab Proj Ser A
(AMT) (FNMA Collateralized) 5.700 12/01/27 2,483,044
170 Los Angeles, CA Single Family Home Mtg Rev Pgm Ser A (AMT) (GNMA
Collateralized) 6.875 06/01/25 171,425
1,000 Los Angeles, CA Uni Sch Dist Ser A (FSA Insd) 5.250 07/01/20 1,088,340
1,000 Los Angeles, CA Wtr & Pwr Rev Sys Ser A (MBIA Insd) 5.375 07/01/18 1,082,270
1,000 Lucia Mar Uni Sch Dist CA Election 2004 Ser A (FGIC Insd) 5.000 08/01/25 1,051,220
1,190 Lynwood, CA Util Auth Enterp Rev (FSA Insd) (a) 5.000 06/01/25 1,255,093
3,650 Manhattan Beach, CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 09/01/22 1,728,093
2,000 Mendocino Cnty, CA Ctf Partn Cnty Pub Fac Corp (MBIA Insd) 5.250 06/01/30 2,109,160
3,400 Metropolitan Wtr Dist Southn CA Auth Ser B2 (FGIC Insd) 5.000 10/01/26 3,552,728
3,720 Midpeninsula Regl Open Space Dist CA Fin Auth Rev (AMBAC Insd) (a) * 08/01/27 1,046,957
3,240 Midpeninsula Regl Open Space Dist CA Fin Auth Rev Cap Apprec Second
Issue (AMBAC Insd) * 08/01/26 970,218
1,710 Modesto, CA Irr Dist Ctf Partn Cap Impts Ser A (FSA Insd) 5.250 07/01/17 1,841,636
2,000 Montclair, CA Redev Agy Mobile Home Pk Rev Hacienda Mobile Home Pk Proj 6.000 11/15/22 2,106,500
3,180 Mount Diablo, CA Uni Sch Dist (FSA Insd) 5.000 08/01/26 3,304,147
1,110 Mountain View Los Altos, CA Uni High Sch Dist Cap Apprec Ser D (FSA
Insd) (a) * 08/01/24 475,790
1,000 National City, CA Cmnty Dev Commn Tax Alloc Redev Proj Ser B Rfdg
(AMBAC Insd) 5.250 08/01/32 1,069,360
1,730 National City, CA Cmnty Dev Commn Tax Alloc National City Redev Proj
Ser A (AMBAC Insd) (a) 5.500 08/01/32 1,886,530
1,670 National City, CA Cmnty Dev Tax Alloc Redev Proj Ser B Rfdg (AMBAC
Insd) (a) 5.000 08/01/25 1,748,223
2,000 Needles, CA Pub Util Auth Util Sys Acquisition Proj Ser A 6.500 02/01/22 2,083,460
1,500 Norco, CA Spl Tax Cmnty Fac Dist No 97-1 Rfdg (Asset Gty Insd) 4.875 10/01/30 1,518,360
1,225 Novato, CA Uni Sch Dist (FSA Insd) 5.000 08/01/28 1,280,627
1,000 Oakland, CA Uni Sch Dist Alameda Cnty (FSA Insd) 5.000 08/01/17 1,044,410
995 Oceanside, CA Cmnty Fac No 2001-1 Morro Hills Dev 5.500 09/01/34 1,006,134
3,000 Oxnard, CA Harbor Dist Rev Ser B 6.000 08/01/24 3,298,200
1,000 Oxnard, CA Uni High Sch Dist Ser A Rfdg (MBIA Insd) 6.200 08/01/30 1,168,590
1,965 Pacifica, CA Wastewtr Rev Rfdg (AMBAC Insd) (a) 5.250 10/01/22 2,124,597
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 1,300,184
1,100 Pasadena, CA Area Cmnty College Dist Election of 2002 Ser A
(FGIC Insd) 5.000 06/01/21 1,164,306
570 Pasadena, CA Spl Tax Cmnty Fac Dist No 1 Civic Ctr West (Escrowed to
Maturity) * 12/01/07 523,830
1,040 Perris, CA Pub Fin Auth Rev Tax Alloc Ser A (MBIA Insd) (a) 5.000 10/01/24 1,089,462
1,000 Perris, CA Pub Fin Auth Rev Tax Alloc Ser A (MBIA Insd) 5.000 10/01/31 1,033,680
1,000 Pico Rivera, CA Wtr Auth Rev Wtr Sys Proj Ser A (MBIA Insd) 5.500 05/01/19 1,134,170
1,375 Pittsburg, CA Redev Agy Tax Alloc Los Medanos Cmnty Dev Proj
(AMBAC Insd) * 08/01/26 530,516
1,000 Pomona, CA Ctf Partn Mission Promenade Proj Ser AE (AMBAC Insd) 5.375 10/01/32 1,061,140
PAR
Amount
(000) Description Coupon Maturity Value
3,350 Port Oakland, CA Port Rev Ser G (AMT) (MBIA Insd) 5.375 11/01/25 3,495,625
3,000 Port Oakland, CA Ser N Rfdg (AMT) (MBIA Insd) 5.000 11/01/22 3,095,970
2,500 Poway, CA Uni Sch Dist Spl Tax Cmnty Fac Dist No 6-4 S Ranch 5.125 09/01/35 2,466,150
1,000 Poway, CA Redev Agy Tax Alloc Paguay Redev Proj Ser A (MBIA Insd) 5.000 06/15/33 1,028,180
2,000 Rancho Cordova Cmnty Fac Dist CA Spl Tax No 2003-1 Sunridge Anatolia 6.000 09/01/24 2,058,300
1,000 Rancho Cucamonga, CA Redev Agy Tax Alloc Rancho Redev Proj (FSA Insd) 5.250 09/01/20 1,063,600
2,540 Rancho Mirage, CA Redev Agy Tax Alloc Redev Plan 1984 Proj Ser A-E
(MBIA Insd) 5.250 04/01/33 2,657,424
1,220 Rancho Mirage, CA Redev Agy Tax Redev Plan 1984 Proj Ser A 1
(MBIA Insd) 5.000 04/01/26 1,259,418
1,000 Redlands, CA Lease Rev Ctf Partn Rfdg (AMBAC Insd) 5.000 09/01/17 1,065,160
3,800 Redlands, CA Redev Agy Tax Alloc Redev Proj Ser A Rfdg (MBIA Insd) (c) 4.750 08/01/21 3,874,746
1,000 Redondo Beach, CA Pub Fin Auth Rev South Bay Ctr Redev Proj 7.000 07/01/16 1,028,920
4,000 Redwood City, CA Sch Dist (FGIC Insd) 5.000 07/15/23 4,214,840
3,000 Redwood City, CA Sch Dist (FGIC Insd) 5.000 07/15/27 3,112,950
900 Richmond, CA Rev YMCA East Bay Proj Rfdg 7.250 06/01/17 923,238
2,610 Riverside Cnty, CA Pub Fin Auth Tax Alloc Rev Redev Proj Ser
A (XLCA Insd) 5.000 10/01/25 2,722,674
1,960 Riverside Cnty, CA Ctf Partn Cap Impt Family Law Ser A (FGIC
Insd) (a) 5.000 11/01/23 2,065,801
2,045 Riverside Cnty, CA Ctf Partn Cap Impt Family Law Ser A Rfdg
(FGIC Insd) (a) 5.000 11/01/24 2,148,743
1,505 Riverside Cnty, CA Ctf Partn Historic Courthouse Ser B Rfdg
(FGIC Insd) (a) 5.000 11/01/23 1,586,240
1,615 Riverside Cnty, CA Ctf Partn Historic Courthouse Ser B Rfdg
(FGIC Insd) (a) 5.000 11/01/24 1,696,929
1,740 Riverside Cnty, CA Ctf Partn Historic Courthouse Ser B Rfdg
(FGIC Insd) (a) 5.000 11/01/25 1,824,042
1,650 Roseville, CA Jt Uni High Sch Dist Ser B (FGIC Insd) * 06/01/20 833,927
3,750 Sacramento Cnty, CA City Fin Auth Rev Cap Impt (AMBAC Insd) 5.000 12/01/33 3,861,188
1,000 Sacramento Cnty, CA City Fin Auth Rev Tax Alloc Ser A (FGIC Insd) 5.000 12/01/34 1,030,180
2,000 Sacramento Cnty, CA Santn Dist Fin Auth Rev Ser A Rfdg (AMBAC Insd) 5.500 12/01/16 2,259,100
1,000 Salinas Vly, CA Solid Waste Auth Rev (AMT) (AMBAC Insd) 5.250 08/01/27 1,041,010
2,000 Salinas Vly, CA Solid Waste Auth Rev (AMT) (AMBAC Insd) 5.250 08/01/31 2,071,760
2,000 San Bernardino, CA Jt Pwrs Fin Auth Ctf Partn (MBIA Insd) 5.500 09/01/20 2,168,520
2,500 San Bernardino, CA Redev Agy Tax Alloc San Sevaine Redev Proj Ser A
(Prerefunded @ 09/01/09) 7.000 09/01/24 2,820,750
1,830 San Diego Cnty, CA Ctf Partn Edgemoor Proj & Regl Sys Rfdg (AMBAC Insd) 5.000 02/01/25 1,912,954
6,000 San Diego Cnty, CA Wtr Auth Wtr Rev Ctf Partn Ser B (Inverse Fltg)
(Prerefunded @ 04/27/06) (MBIA Insd) 9.200 04/08/21 6,323,220
955 San Diego, CA Hsg Auth Multi-Family Hsg Rev Pgm Ser C (AMT)
(GNMA Collateralized) 5.000 07/20/18 981,339
1,000 San Diego, CA Pub Fac Fin Auth Swr Rev (FGIC Insd) 5.000 05/15/20 1,011,270
2,500 San Diego, CA Redev Agy Centre City Redev Proj Ser A 6.400 09/01/25 2,615,675
1,000 San Diego, CA Uni Port Dist Ser B (MBIA Insd) 5.000 09/01/24 1,047,200
PAR
Amount
(000) Description Coupon Maturity Value
1,000 San Dimas, CA Redev Agy Tax Alloc Creative Growth Ser A (FSA Insd) 5.000 09/01/16 1,059,300
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 3,046,380
1,185 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rev Second Ser
Issue 15B (MBIA Insd) 4.800 05/01/17 1,220,100
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 1,765,194
2,000 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Ser 27A
Rfdg (AMT) (MBIA Insd) 5.250 05/01/26 2,065,060
3,000 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Ser 27A Rfdg
(AMT) (MBIA Insd) 5.250 05/01/31 3,080,670
2,115 San Francisco, CA City & Cnty Redev Agy Lease Rev George Moscone
(XLCA Insd) * 07/01/12 1,661,142
2,130 San Francisco, CA City & Cnty Redev Agy Lease Rev George Moscone
(XLCA Insd) * 07/01/14 1,519,904
8,000 San Jose, CA Fin Auth Lease Rev Convention Ctr Proj Ser F Rfdg
(MBIA Insd) 5.000 09/01/17 8,530,400
1,600 San Leandro, CA Ctf Partn Lib & Fire Stations Fin (AMBAC Insd) 5.700 11/01/20 1,750,880
2,000 San Leandro, CA Ctf Partn Lib & Fire Stations Fin (AMBAC Insd) 5.750 11/01/29 2,178,900
5,000 San Marcos, CA Pub Fac Auth Rev Tax Incrmnt Proj Ser A Rfdg
(AMBAC Insd) (b) 5.000 10/01/31 5,224,750
1,000 San Marcos, CA Pub Fac Auth Rev Tax Incrmnt Proj Ser A Rfdg 6.750 10/01/30 1,154,350
500 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin Proj
Ser C (AMBAC Insd) 5.000 08/01/20 532,885
795 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin Proj
Ser C (AMBAC Insd) 4.750 08/01/24 813,627
380 San Marcos, CA Pub Fac Auth Tax Alloc Rev Proj Areas No 2 & 3 Fin Proj
Ser C (AMBAC Insd) 4.750 08/01/25 387,722
2,000 Sanger, CA Uni Sch Dist Rfdg (MBIA Insd) 5.600 08/01/23 2,345,920
700 Santa Ana, CA Uni Sch Dist Spl Tax Cmnty Fac Dist No 2004-1 5.050 09/01/30 685,209
1,350 Santa Ana, CA Uni Sch Dist (MBIA Insd) (a) 5.375 08/01/21 1,466,249
4,820 Santa Ana, CA Uni Sch Dist (MBIA Insd) 5.375 08/01/27 5,178,897
1,000 Santa Ana, CA Uni Sch Dist Ctf Partn Cap Apprec Fin Proj (FSA Insd) * 04/01/36 214,990
4,200 Semitropic Impt Dist Semitropic Wtr Storage Dist CA Wtr Ser A (XLCA Insd) 5.125 12/01/35 4,341,372
1,220 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj Rfdg
(FGIC Insd) (a) 5.250 09/01/20 1,317,624
1,285 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj Rfdg
(FGIC Insd) (a) 5.250 09/01/21 1,384,343
1,350 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj Rfdg
(FGIC Insd) (a) 5.250 09/01/22 1,452,546
3,305 South Orange Cnty, CA Pub Fin Auth Reassmt Rev (FSA Insd) 5.800 09/02/18 3,595,741
1,640 South Tahoe, CA Jt Pwr Fin Auth Rev Tahoe Redev Proj Area 1-A Rfdg
(FSA Insd) 5.000 10/01/29 1,701,188
2,250 South Tahoe, CA Jt Pwr Fin Redev Proj Area No 1 Ser A (AMBAC Insd) 5.000 10/01/28 2,350,733
5,000 Southern CA Pub Pwr Auth Pwr Proj Rev Multi-Projs 6.750 07/01/12 5,778,850
915 Stanton, CA Multi-Family Rev Hsg Contl Garden Apts (AMT)
(FNMA Collateralized) 5.625 08/01/29 951,682
2,745 State Center, CA Cmnty Election 2002 Ser A (MBIA Insd) 5.500 08/01/28 3,015,383
1,300 Taft, CA City Elem Sch Dist Ser A (MBIA Insd) (a) * 08/01/22 617,799
1,605 Tehachapi, CA Redev Agy Tax Alloc Tehachapi Redev Proj (Radian Insd) 5.250 12/01/35 1,675,829
10,000 Tobacco Sec Auth North CA Tob Settlement Rev Asset Bkd Bd Ser A-1 5.375 06/01/38 10,064,900
PAR
Amount
(000) Description Coupon Maturity Value
10,800 Tobacco Sec Auth North CA Tob Settlement Rev Asset Bkd Bd Ser A-1 5.500 06/01/45 10,850,004
4,000 University of CA Ctf Partn San Diego Campus Proj Ser A 5.250 01/01/32 4,152,480
10,000 University of CA Rev Hosp UCLA Med Ctr Ser A (AMBAC Insd) 5.250 05/15/30 10,559,600
1,000 University of CA Rev Multiple Purp Proj Ser M (FGIC Insd) 5.125 09/01/17 1,062,910
1,000 University of CA Rev Resh Fac Ser E (AMBAC Insd) 5.000 09/01/19 1,057,690
2,200 Ventura Cnty, CA Cmnty College Ser A (MBIA Insd) 5.500 08/01/23 2,420,176
1,800 Ventura Cnty, CA Ctf Partn Pub Fin Auth Ser I (FSA Insd) 5.250 08/15/15 1,908,270
1,000 Vista, CA Mobile Home Pk Rev Estrella De Oro Mobile Home Ser A
(Prerefunded @ 02/01/25) 5.875 02/01/28 1,066,970
1,000 Vista, CA Uni Sch Dist Ser A (FSA Insd) 5.000 08/01/23 1,053,820
3,520 Western Placer, CA Uni Sch Dist Cmnty Fac Dist No 1 (XLCA Insd) (a) 5.000 09/01/34 3,624,685
5,080 Woodland, CA Fin Auth Lease Rev Cap Proj Rfdg (FSA Insd) 5.000 03/01/26 5,307,940
2,000 Woodland, CA Fin Auth Lease Rev Cap Proj Rfdg (XLCA Insd) 5.000 03/01/25 2,076,080
------------
537,892,853
------------
PUERTO RICO 2.9%
5,000 Puerto Rico Comwlth Hwy & Tran Auth Hwy Rev Ser Y Rfdg (FSA Insd) 6.250 07/01/21 6,190,000
4,000 Puerto Rico Elec Pwr Auth Pwr Rev Ser II (XLCA Insd) 5.375 07/01/17 4,388,240
------------
10,578,240
------------
U. S. VIRGIN ISLANDS 1.8%
3,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A 6.375 10/01/19 3,340,500
2,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A 6.500 10/01/24 2,220,920
1,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A (ACA Insd) 6.125 10/01/29 1,097,360
------------
6,658,780
------------
TOTAL LONG-TERM INVESTMENTS 154.0%
(Cost $525,178,640) 555,129,873
SHORT-TERM INVESTMENTS 1.5%
(Cost $5,400,000) 5,400,000
------------
TOTAL INVESTMENTS 155.5%
(Cost $530,578,640) 560,529,873
OTHER ASSETS IN EXCESS OF LIABILITIES 0.0% 79,331
PREFERRED SHARES (INCLUDING ACCRUED DISTRIBUTIONS) (55.5%) (200,243,107)
-------------
NET ASSETS APPLICABLE TO COMMON SHARES 100.0% $360,366,097
-------------
Percentages are calculated as a percentage of net assets
applicable to common shares.
* Zero coupon bond
(a) The Trust owns 100% of the outstanding bond issuance.
(b) Securities purchased on a when-issued or delayed delivery basis.
(c) All or a portion of these securities have been physically
segregated in connection with open futures contracts.
(d) Security is a "step-up" bond where the coupon increases or steps
up at a predetermined date.
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.
FUTURES CONTRACTS OUTSTANDING AS OF JANUARY 31, 2006:
UNREALIZED
APPRECIATION/
CONTRACTS DEPRECIATION
Short Contracts:
U.S. Treasury Bonds Futures March 2006 234 $ (74,061)
(Current Notional Value of $112,844) -----------------------------
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: March 22, 2006
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: March 22, 2006
By: /s/ Phillip G. Goff
--------------------
Name: Phillip G. Goff
Title: Principal Financial Officer
Date: March 22, 2006