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: 7/31/06
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 JULY 31, 2006 (UNAUDITED)
PAR
AMOUNT
(000) DESCRIPTION COUPON MATURITY VALUE
MUNICIPAL BONDS 155.4%
CALIFORNIA 150.0%
$ 1,020 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/17 $ 627,208
2,000 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/21 994,860
1,610 A B C CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 08/01/22 762,045
3,390 Abag Fin Auth For Nonprofit Corp CA Ctf Partn Childrens Hosp
Med Ctr (AMBAC Insd) 5.875% 12/01/19 3,623,368
500 Abag Fin Auth For Nonprofit Copr CA Ctf Partn Childrens Hosp
Med Ctr (AMBAC Insd) 6.000 12/01/29 535,265
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 2,070,680
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 4,145,040
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 1,036,630
1,205 Alameda Cnty, CA Wtr Dist Rev Rfdg (MBIA Insd) 4.750 06/01/20 1,217,496
3,540 Anaheim, CA Pub Fin Auth Lease Rev Cap Apprec Pub Impt Proj
Ser C (FSA Insd) * 09/01/32 1,005,537
2,790 Banning, CA Cmnty Redev Agy Tax Alloc Merged Downtown
(Radian Insd) 5.000 08/01/23 2,852,133
2,510 Bay Area Govt Assn CA Lease West Sacramento Ser A (XLCA Insd) (a) 5.000 09/01/24 2,600,184
5,000 Bay Area Toll Auth CA Toll Brdg Rev San Francisco Bay Area Ser D 5.000 04/01/17 5,219,300
1,000 Benicia, CA Uni Sch Dist Ser B (MBIA Insd) * 08/01/18 538,890
1,725 Bonita, CA Uni Sch Dist Election 2004 Ser A (MBIA Insd) (a) 5.250 08/01/22 1,855,496
1,055 Borrego, CA Wtr Dist Ctf Partn Wtr Sys Acquisition (a) 7.000 04/01/27 1,093,339
1,390 Brea & Olinda, CA Uni Sch Dist Ctf Partn Ser A Rfdg (FSA Insd) (a) 5.500 08/01/19 1,498,851
1,510 Brea & Olinda, CA Uni Sch Dist Ctf Partn Ser A Rfdg (FSA Insd) (a) 5.500 08/01/20 1,628,248
3,535 Brea, CA Redev Agy Tax Alloc Ser A Rfdg (AMBAC Insd) (a) 5.500 08/01/20 3,799,984
250 Burbank, CA Cmnty Fac Dist Spl Tax No 2005-1 5.200 12/01/23 253,877
1,500 Burbank, CA Pub Fin Auth Rev Golden State Redev Proj Ser A
(AMBAC Insd) 5.250 12/01/23 1,585,350
2,060 Burbank, CA Wastewtr Treatment Rev Ser A (AMBAC Insd) 5.000 06/01/29 2,119,699
2,060 Calexico, CA Uni Sch Dist Ser A (MBIA Insd) (a) 5.000 08/01/27 2,133,460
2,000 California Cnty, CA Tob Sec Agy Tob Asset Bkd Merced Cnty
Ser A Rfdg 5.125 06/01/38 1,993,620
5,000 California Cnty, CA Tob Sec Agy Tob Asset Bkd Merced Cnty
Ser A Rfdg 5.250 06/01/45 5,001,350
5,000 California Cnty, CA Tob Sec Agy Tob Asset Bkd Sonoma Cnty
Corp Rfdg 5.125 06/01/38 4,984,050
3,000 California Cnty, CA Tob Sec Agy Tob Asset Bkd Los Angeles
Cnty Sec (b) 0/5.450 06/01/28 2,424,990
2,000 California Ed Fac Auth Rev CA College Arts 5.000 06/01/35 1,974,280
2,500 California Ed Fac Auth Rev Golden Gate Univ 5.000 10/01/36 2,467,225
1,000 California Ed Fac Auth Rev Pitzer College Ser A 5.000 04/01/30 1,013,620
3,210 California Ed Fac Auth Rev Pitzer College Ser A 5.000 04/01/35 3,235,616
2,000 California Ed Fac Auth Rev Pooled College & Univ Proj Ser B 5.250 04/01/24 2,038,340
2,000 California Ed Fac Auth Rev Pooled College & Univ Proj Ser B 6.750 06/01/30 2,141,780
1,000 California Ed Fac Auth Rev Pooled College & Univ Ser B 6.625 06/01/20 1,076,550
375 California Ed Fac Auth Rev Student Ln CA Ln Pgm Ser A (AMT)
(MBIA Insd) 6.000 03/01/16 385,774
1,500 California Ed Fac Auth Rev Univ of Redlands Ser A 5.000 10/01/31 1,518,060
2,000 California Hlth Fac Fin Auth Rev Cedars Sinai Med Ctr Rfdg 5.000 11/15/27 2,030,300
4,000 California Hlth Fac Fin Auth Rev Cedars Sinai Med Ctr Rfdg 5.000 11/15/34 4,044,440
90 California Hlth Fac Fin Auth Rev Hlth Fac Small Fac Ln Ser A
(CA MTG Insd) 6.700 03/01/11 90,187
180 California Hlth Fac Fin Auth Rev Hlth Fac Small Fac Ln Ser A
(CA MTG Insd) 6.750 03/01/20 180,374
2,205 California Hlth Fac Fin Auth Rev Insd Hlth Fac Vlycare Ser A
(CA MTG Insd) 6.125 05/01/12 2,208,462
1,100 California Hlth Fac Fin Auth Rev Kaiser Permanente Ser A 5.000 04/01/37 1,112,375
700 California Hlth Fac Fin Auth Rev Kaiser Permanente Ser A 5.250 04/01/39 722,827
3,000 California Hsg Fin Agy Rev Multi-Family Hsg III Ser A (AMT)
(MBIA Insd) 5.850 08/01/17 3,065,370
2,000 California Infrastructure & Econ Dev Bk Rev Bay Area Toll Brdg
First Lien Ser A (Prerefunded @ 01/01/28) (FGIC Insd) 5.000 07/01/29 2,169,640
1,000 California Pollutn Ctl Fin Auth Pollutn Ctl Rev Gas & Elec Ser A
Rfdg (MBIA Insd) 5.900 06/01/14 1,126,490
1,000 California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt
Inc Proj Ser B (AMT) 5.000 07/01/27 1,006,650
2,500 California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt
Inc Proj Ser C (AMT) 5.125 11/01/23 2,565,425
60 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd
Sec Pgm Ser B (AMT) (GNMA Collateralized) 6.150 06/01/20 61,208
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 15,261
15 California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd
Sec Ser A2 (AMT) (GNMA Collateralized) 7.950 12/01/24 15,571
85 California Rural Home Mtg Fin Auth Single Family Mtg Rev Pgm
Ser B (AMT) (GNMA Collateralized) 6.250 12/01/31 86,794
35 California Rural Home Mtg Fin Auth Single Family Mtg Rev Ser C
(AMT) (GNMA Collateralized) 7.800 02/01/28 35,672
1,060 California Spl Dist Assn Fin Corp Ctf Part Spl Dist Fin Pgm Ser
KK (FSA Insd) (a) 5.800 11/01/29 1,126,854
2,110 California Spl Dist Fin Pgm Ser 00 (MBIA Insd) (a) 5.250 12/01/26 2,192,585
2,000 California St (CIFG Insd) 5.000 10/01/22 2,063,540
3,000 California St (FGIC Insd) (a) 5.000 10/01/23 3,078,360
1,000 California St (MBIA Insd) (a) 5.000 02/01/26 1,033,680
835 California St Dept Wtr Res Rev Ser W 5.500 12/01/17 898,602
1,000 California St Pub Wks Brd Dept Corrections Ser C 5.500 06/01/23 1,073,100
2,340 California St Rfdg (FGIC Insd) 5.000 02/01/23 2,389,000
7,500 California St Rfdg 5.000 03/01/24 7,756,200
4,145 California St Rfdg 5.000 03/01/26 4,286,800
960 California St Vet Ser BJ (AMT) 5.700 12/01/32 980,285
2,230 California Statewide Cmnty Dev Auth CHF-Irvine LLC UCI East Rfdg 5.000 05/15/38 2,265,212
3,000 California Statewide Cmnty Dev Auth Rev Daughters of Charity
Hlth Ser A 5.250 07/01/30 3,084,810
4,355 California Statewide Cmnty Dev Auth Rev Daughters of Charity
Hlth Ser A 5.250 07/01/35 4,469,536
3,000 California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist
Hlth Ser A 5.000 03/01/35 3,030,960
2,800 California Statewide Cmnty Dev Auth Rev Kaiser Permanente Ser B 5.000 03/01/41 2,815,120
4,200 California Statewide Cmnty Dev Auth Rev Kaiser Permanente Ser B 5.250 03/01/45 4,319,280
3,500 California Statewide Cmnty Dev Auth Rev Kaiser Permanente Ser C 5.250 08/01/31 3,639,440
1,280 California Statewide Cmnty Dev Auth Wtr Rev Pooled Fin Pgm Ser C
(FSA Insd) 5.250 10/01/28 1,344,973
1,325 California Statewide Cmnty Dev Auth Wtr & Wastewtr Rev Pooled
Fin Pgm Ser B (FSA Insd) 5.250 10/01/23 1,410,171
1,595 Cardiff, CA Sch Dist Cap Apprec (FGIC Insd) (a) * 08/01/24 679,741
1,675 Cardiff, CA Sch Dist Cap Apprec (FGIC Insd) (a) * 08/01/25 677,018
2,000 Carson, CA Redev Agy Tax Alloc Ser A Rfdg (MBIA Insd) 5.000 10/01/23 2,080,760
1,095 Cathedral City, CA Impt Bd Act 1915 Ltd Oblig Cove Impt Dist
04-02 (a) 5.000 09/02/22 1,100,650
850 Cathedral City, CA Ltd Oblig Cove Impt Dist 04-02 5.000 09/02/23 849,481
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A
(MBIA Insd) (a) * 08/01/27 398,086
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A
(MBIA Insd) (a) * 08/01/28 379,533
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A
(MBIA Insd) (a) * 08/01/30 341,905
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A
(MBIA Insd) (a) * 08/01/31 325,055
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A
(MBIA Insd) (a) * 08/01/32 309,746
1,085 Cathedral City, CA Pub Fin Auth Rev Cap Apprec Ser A
(MBIA Insd) (a) * 08/01/33 295,174
2,000 Central Vly Fin Auth CA Cogeneration Proj Rev Carson Ice-Gen
Proj Rev (MBIA Insd) 5.000 07/01/17 2,055,400
220 Cerritos, CA Cmnty College Dist Election 2004 Ser A
(MBIA Insd) (a) 5.000 08/01/27 227,845
2,500 Chaffey, CA Uni High Sch Dist Ser C (FSA Insd) 5.000 05/01/27 2,577,050
1,805 Channel Is Beach, CA Cmnty Svc Dist Swr Rev Ctf Partn Ser A
(Radian Insd) (a) 5.250 11/01/35 1,882,092
1,700 Chino Vly Uni Sch Dist CA Ctf Partn Ser A Rfdg (FSA Insd) 5.375 09/01/20 1,824,253
2,000 Chula Vista, CA Cmnty Fac Dist Spl Tax No 01-1 Impt Area
San Miguel Ser B 5.350 09/01/26 2,037,340
2,000 Chula Vista, CA Indl Dev Rev San Diego Gas Ser A 5.300 07/01/21 2,104,300
1,000 Chula Vista, CA Pub Fin Auth Rev Ser A Rfdg (MBIA Insd) 5.000 09/01/29 1,029,760
2,335 Chula Vista, CA Redev Agy Tax Alloc Sr Bayfront Ser D Rfdg 8.625 09/01/24 2,390,620
1,540 Chula Vista, CA Redev Agy Tax Alloc Sub Bayfront Ser B Rfdg (c) 5.250 10/01/27 1,541,401
1,605 Coachella, CA Fin Auth Tax Alloc Rev Redev Proj 4 Ser B Rfdg
(XLCA Insd) 5.250 09/01/34 1,685,427
1,000 Coachella, CA Redev Agy Tax Alloc Proj Area No 3 Rfdg 5.875 12/01/28 1,028,340
2,900 Colton, CA Jt Uni Sch Dist Ser A (FGIC Insd) 5.500 08/01/22 3,180,633
2,000 Colton, CA Redev Agy Tax Alloc Mt Vernon Corridor Redev Proj 6.300 09/01/36 2,106,800
1,600 Commerce, CA Jt Pwr Fin Auth Lease Rev Cmnty Ctr Proj (XLCA Insd) 5.000 10/01/29 1,642,512
2,000 Commerce, CA Jt Pwr Fin Auth Lease Rev Cmnty Ctr Proj (XLCA Insd) 5.000 10/01/34 2,046,980
1,965 Contra Costa Cnty, CA Ctf Partn Merrithew Mem Hosp Proj Rfdg
(MBIA Insd) 5.500 11/01/22 2,039,827
1,250 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) (d) * 09/01/16 807,325
1,595 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) * 09/01/17 977,161
1,735 Corona Norco, CA Uni Sch Dist Cap Apprec Ser B (FSA Insd) (a) * 09/01/18 1,007,410
1,360 Csuci Fin Auth Rev CA East Campus Cmnty Ser A (LOC -Citibank)
(MBIA Insd) 5.125 09/01/21 1,425,878
615 Davis, CA Pub Fac Fin Auth Loc Agy Rev Mace Ranch Area Ser A 6.500 09/01/15 640,055
1,245 Duarte, CA Multi-Family Rev Hsg Heritage Pk Apt Ser A (AMT)
(FNMA Collateralized) 5.850 05/01/30 1,282,300
925 Duarte, CA Redev Agy Tax Alloc Davis Addition Proj Area Rfdg 6.700 09/01/14 960,714
2,000 East Bay, CA Muni Util Dist Wtr Sys Rev (MBIA Insd) 5.000 06/01/21 2,078,980
4,445 East Bay, CA Muni Util Dist Wtr Sys Rev Sub 5.250 06/01/19 4,590,796
1,280 El Cerrito, CA Redev Agy Tax Alloc Redev Proj Area Ser B Rfdg
(AMT) (MBIA Insd) (a) 5.250 07/01/15 1,340,621
1,220 Emeryville, CA Pub Fin Auth Rev Assmt Dist Refin 5.900 09/02/21 1,244,937
1,000 Emeryville, CA Pub Fin Auth Rev Shellmound Pk Redev & Hsg Proj
Ser B (MBIA Insd) 5.000 09/01/19 1,028,180
5,155 Florin, CA Res Consv Dist Cap Impt Elk Grove Wtr Svc Ser A
(MBIA Insd) 5.000 09/01/33 5,305,217
1,010 Folsom Cordova, CA Uni Sch Dist Fac Impt Dist No 1 Cap Apprec
Ser A (AMBAC Insd) (a) * 10/01/19 552,116
1,060 Folsom Cordova, CA Uni Sch Dist Fac Impt Dist No 1 Cap Apprec
Ser A (AMBAC Insd) (a) * 10/01/21 521,647
3,000 Folsom, CA Spl Tax Cmnty Fac Dist No 2 Rfdg (Connie Lee Insd) 5.250 12/01/19 3,111,540
1,000 Fontana, CA Redev Agy Tax Alloc Southwest Indl Park Proj Rfdg
(MBIA Insd) 5.000 09/01/22 1,026,660
1,950 Fontana, CA Redev Agy Tax Alloc Southwest Indl Park Proj Rfdg
(MBIA Insd) 5.200 09/01/30 2,006,920
10,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/25 3,482,400
15,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/26 4,912,950
11,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/30 2,822,820
5,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg * 01/15/31 1,206,050
2,950 Foothill/Eastern Corridor Agy CA Toll Rd Rev (Escrowed to Maturity) * 01/01/27 1,129,024
5,500 Foothill/Eastern Corridor Agy CA Toll Rd Rev Conv Cap Apprec
Rfdg (b) 0/5.875 01/15/27 4,856,610
1,000 Foothill/Eastern Corridor Agy CA Toll Rd Rev Rfdg 5.750 01/15/40 1,034,700
1,000 Galt Schs Jt Pwrs Auth CA Rev High Sch & Elem Sch Ser A Rfdg
(MBIA Insd) 5.750 11/01/16 1,043,190
1,115 Garden Grove, CA Pub Fin Auth Rev Ctf Partn Wtr Svc Cap Impt Pgm
(FSA Insd) 5.000 12/15/23 1,157,816
2,500 Glendale, CA Uni Sch Dist Ser C (FSA Insd) 5.500 09/01/19 2,642,625
1,680 Glendale, CA Uni Sch Dist Ser D (MBIA Insd) (a) 5.250 09/01/17 1,779,792
8,255 Golden St Tob Sec Corp CA Ser A-1 6.625 06/01/40 9,212,250
5,275 Golden St Tob Sec Corp CA Tob Settlement Rev Ser 2003 A-1 6.250 06/01/33 5,768,687
1,000 Golden St Tob Sec Corp CA Tob Settlement Rev Ser 2003 A-1 6.750 06/01/39 1,125,700
1,000 Huntington Pk, CA Pub Fin Auth Lease Rev Wastewtr Sys Proj Ser A 6.200 10/01/25 1,031,070
3,000 Imperial Irr Dist CA Ctf Partn Elec Sys Proj (FSA Insd) 5.250 11/01/23 3,169,020
3,435 Irvine, CA Pub Fac & Infrastructure Auth Assmt Rev Ser B
(AMBAC Insd) (a) 5.000 09/02/22 3,540,523
2,000 Irvine, CA Uni Sch Dist Fin Auth Spl Tax Group II Ser A 5.125 09/01/36 1,990,780
1,660 Jarupa, CA Cmnty Svc Dist Spl Tax Cmnty Fac Dist No 21 Ser A 5.000 09/01/26 1,646,421
1,000 Kern, CA Cmnty College Sch Fac Impt Dist Mammoth Campus/Kern Cmnty
(AMBAC Insd) (a) * 08/01/22 472,580
800 Kern, CA Cmnty College Sch Fac Impt Dist Mammoth Campus/Kern Cmnty
Ser A (AMBAC Insd) (a) 5.000 08/01/19 836,408
1,000 La Quinta, CA Fin Auth Loc Ser A (AMBAC Insd) 5.250 09/01/24 1,064,600
1,420 La Quinta, CA Redev Agy Tax Alloc Redev Proj Area No 1
(AMBAC Insd) 5.000 09/01/22 1,476,885
1,500 La Quinta, CA Redev Agy Tax Alloc Redev Proj Area No 1
(AMBAC Insd) 5.125 09/01/32 1,561,650
1,000 Laguna Hills, CA Ctf Partn Cmnty Ctr Proj (MBIA Insd) 5.000 12/01/18 1,046,420
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 1,205,015
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 1,257,848
1,105 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/20 577,429
1,145 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/21 567,886
1,020 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) * 08/01/24 432,786
1,255 Larkspur, CA Sch Dist Cap Apprec Ser A (FGIC Insd) (a) * 08/01/25 504,912
1,000 Lathrop, CA Impt Bd Act 1915 Mossdale Vlg Assmt Dist 03-1 5.000 09/02/25 994,480
5,000 Loma Linda, CA Hosp Rev Loma Linda Univ Med Ctr Ser A 5.000 12/01/22 5,054,300
1,000 Loma Linda, CA Redev Agy Tax Loma Linda Redev Proj Rfdg
(MBIA Insd) 5.125 07/01/30 1,045,630
145 Long Beach, CA Bd Fin Auth Tax Alloc Rev North Long Ser A
(AMBAC Insd) 5.375 08/01/21 155,662
3,555 Long Beach, CA Hbr Rev Ser A (AMT) (FGIC Insd) 5.250 05/15/18 3,687,673
2,000 Los Angeles Cnty, CA Met Trans Auth Sales Tax Rev Prop A First
Tier Ser C Rfdg (AMBAC Insd) 5.000 07/01/23 2,065,180
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 1,284,062
1,200 Los Angeles Cnty, CA Sch Regionalized Business Svc Ctf Partn Cap
Apprec Pooled Fin Ser A (AMBAC Insd) * 08/01/26 454,656
2,755 Los Angeles Cnty, CA Sch Ser B (MBIA Insd) 5.000 11/01/24 2,855,613
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 2,062,420
2,000 Los Angeles, CA Cmnty Redev Agy Fin Auth Rev Ser N (MBIA Insd) 5.250 09/01/26 2,134,640
1,900 Los Angeles, CA Ctf Partn 5.700 02/01/18 1,970,091
1,000 Los Angeles, CA Ctf Partn Dept Pub Social Svc Ser A (AMBAC Insd) 5.500 08/01/31 1,046,550
3,000 Los Angeles, CA Ctf Partn Sr Sonnenblick Del Rio W L A (AMBAC Insd) 6.000 11/01/19 3,270,780
2,000 Los Angeles, CA Dept Wtr & Pwr Sys Ser C (MBIA Insd) 5.000 07/01/26 2,074,680
1,505 Los Angeles, CA Multi-Family Rev Hsg Earthquake Rehab Proj Ser A
(AMT) (FNMA Collateralized) 5.700 12/01/27 1,507,182
155 Los Angeles, CA Single Family Home Mtg Rev Pgm Ser A (AMT)
(GNMA Collateralized) 6.875 06/01/25 158,894
1,000 Los Angeles, CA Uni Sch Dist Ser A (FSA Insd) 5.250 07/01/20 1,072,040
1,000 Los Angeles, CA Wtr & Pwr Rev Sys Ser A (MBIA Insd) 5.375 07/01/18 1,062,850
1,190 Lynwood, CA Util Auth Enterp Rev (FSA Insd) (a) 5.000 06/01/25 1,229,615
3,650 Manhattan Beach, CA Uni Sch Dist Cap Apprec Ser B (FGIC Insd) * 09/01/22 1,718,201
2,000 Mendocino Cnty, CA Ctf Partn Cnty Pub Fac Corp (MBIA Insd) 5.250 06/01/30 2,096,140
3,400 Metropolitan Wtr Dist Southn CA Auth Ser B2 (FGIC Insd) 5.000 10/01/26 3,516,620
3,720 Midpeninsula Regl Open Space Dist CA Fin Auth Rev (AMBAC Insd) (a) * 08/01/27 1,062,172
3,240 Midpeninsula Regl Open Space Dist CA Fin Auth Rev Cap Apprec
Second Issue (AMBAC Insd) * 08/01/26 984,312
1,710 Modesto, CA Irr Dist Ctf Partn Cap Impts Ser A (FSA Insd) 5.250 07/01/17 1,809,265
2,500 Modesto, CA Spl Tax Cmnty Fac Dist No 04 1 Vlg 2 5.150 09/01/36 2,479,100
2,000 Montclair, CA Redev Agy Mobile Home Pk Rev Hacienda Mobile Home
Pk Proj 6.000 11/15/22 2,094,800
3,180 Mount Diablo, CA Uni Sch Dist (FSA Insd) 5.000 08/01/26 3,283,732
1,110 Mountain View Los Altos, CA Uni High Sch Dist Cap Apprec Ser D
(FSA Insd) (a) * 08/01/24 473,304
1,730 National City, CA Cmnty Dev Commn Tax Alloc National City Redev
Proj Ser A (AMBAC Insd) (a) 5.500 08/01/32 1,855,840
1,000 National City, CA Cmnty Dev Commn Tax Alloc Redev Proj Ser B
Rfdg (AMBAC Insd) 5.250 08/01/32 1,052,420
1,670 National City, CA Cmnty Dev Commn Tax Alloc Redev Proj Ser B
Rfdg (AMBAC Insd) (a) 5.000 08/01/25 1,730,237
2,000 Needles, CA Pub Util Auth Util Sys Acquisition Proj Ser A 6.500 02/01/22 2,061,660
1,500 Norco, CA Spl Tax Cmnty Fac Dist No 97-1 Rfdg (Asset Gty Insd) 4.875 10/01/30 1,508,715
1,225 Novato, CA Uni Sch Dist (FSA Insd) 5.000 08/01/28 1,267,851
995 Oceanside, CA Cmnty Fac No 2001-1 Morro Hills Dev 5.500 09/01/34 1,014,781
3,000 Oxnard, CA Harbor Dist Rev Ser B 6.000 08/01/24 3,226,110
2,500 Oxnard, CA Spl Tax Cmnty Fac Dist No 3 Seabridge 5.000 09/01/35 2,423,525
1,000 Oxnard, CA Uni High Sch Dist Ser A Rfdg (MBIA Insd) 6.200 08/01/30 1,176,230
1,965 Pacifica, CA Wastewtr Rev Rfdg (AMBAC Insd) (a) 5.250 10/01/22 2,094,395
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 1,282,263
250 Palm Springs, CA Arpt Sub Palm Springs Intl Arpt Rfdg (AMT) 5.450 07/01/20 251,033
530 Palm Springs, CA Arpt Sub Palm Springs Intl Arpt Rfdg (AMT) 5.550 07/01/28 532,422
520 Pasadena, CA Spl Tax Cmnty Fac Dist No 1 Civic Ctr West
(Escrowed to Maturity) * 12/01/07 485,113
4,350 Perris, CA Pub Fin Auth Rev Tax Alloc 5.350 10/01/36 4,362,485
1,040 Perris, CA Pub Fin Auth Rev Tax Alloc Ser A (MBIA Insd) (a) 5.000 10/01/24 1,077,669
1,000 Perris, CA Pub Fin Auth Rev Tax Alloc Ser A (MBIA Insd) 5.000 10/01/31 1,026,570
1,000 Pico Rivera, CA Wtr Auth Rev Wtr Sys Proj Ser A (MBIA Insd) 5.500 05/01/19 1,111,250
1,375 Pittsburg, CA Redev Agy Tax Alloc Los Medanos Cmnty Dev Proj
(AMBAC Insd) * 08/01/26 527,313
1,000 Pomona, CA Ctf Part Mission Promenade Proj Ser AE (AMBAC Insd) 5.375 10/01/32 1,042,300
3,350 Port Oakland, CA Port Rev Ser G (AMT) (MBIA Insd) 5.375 11/01/25 3,461,019
3,000 Port Oakland, CA Ser N Rfdg (AMT) (MBIA Insd) 5.000 11/01/22 3,076,620
1,000 Poway, CA Redev Agy Tax Alloc Paguay Redev Proj Ser A (MBIA Insd) 5.000 06/15/33 1,022,400
2,500 Poway, CA Uni Sch Dist Spl Tax Cmnty Fac Dist 6-4 S Ranch 5.125 09/01/35 2,488,650
2,000 Rancho Cordova Cmnty Fac Dist CA Spl Tax No 2003-1 Sunridge
Anatolia 6.000 09/01/24 2,054,860
1,000 Rancho Cucamonga, CA Redev Agy Tax Alloc Rancho Redev Proj
(FSA Insd) 5.250 09/01/20 1,045,390
1,220 Rancho Mirage, CA Redev Agy Tax Alloc Redev Plan 1984 Proj
Ser A 1 (MBIA Insd) 5.000 04/01/26 1,249,219
2,540 Rancho Mirage, CA Redev Agy Tax Alloc Redev Plan 1984 Proj
Ser A-E (MBIA Insd) 5.250 04/01/33 2,633,548
3,800 Redlands, CA Redev Agy Tax Alloc Redev Proj Ser A Rfdg (MBIA Insd) 4.750 08/01/21 3,846,208
1,000 Redondo Beach, CA Pub Fin Auth Rev South Bay Ctr Redev Proj 7.000 07/01/16 1,021,660
4,000 Redwood City, CA Sch Dist (FGIC Insd) 5.000 07/15/23 4,152,880
3,000 Redwood City, CA Sch Dist (FGIC Insd) 5.000 07/15/27 3,097,320
1,740 Riverside Cnty, CA Ctf Partn Historic Ct Hse Ser B Rfdg
(FGIC Insd) (a) 5.000 11/01/25 1,804,450
2,000 RNR Sch Fin Auth CA Spl Tax Cmnty Fac Dist No 92 1 Ser A
(AMBAC Insd) (c) 5.000 09/01/36 2,059,820
1,650 Roseville, CA Jt Uni High Sch Dist Ser B (FGIC Insd) * 06/01/20 834,174
2,000 Sacramento Cnty, CA Santn Dist Fin Auth Rev Ser A Rfdg
(AMBAC Insd) 5.500 12/01/16 2,238,640
3,750 Sacramento, CA City Fin Auth Rev Cap Impt (AMBAC Insd) 5.000 12/01/33 3,855,188
1,000 Sacramento, CA City Fin Auth Rev Tax Alloc Ser A (FGIC Insd) 5.000 12/01/34 1,027,410
1,000 Salinas Vly, CA Solid Waste Auth Rev (AMT) (AMBAC Insd) 5.250 08/01/27 1,032,950
2,000 Salinas Vly, CA Solid Waste Auth Rev (AMT) (AMBAC Insd) 5.250 08/01/31 2,058,520
2,000 San Bernardino, CA Jt Pwr Fin Auth Ctf Partn (MBIA Insd) 5.500 09/01/20 2,129,480
1,830 San Diego Cnty, CA Ctf Partn Edgemoor Proj & Regl Sys Rfdg
(AMBAC Insd) 5.000 02/01/25 1,893,391
955 San Diego, CA Hsg Auth Multi-Family Hsg Rev Mtg Bkd Sec Pgm
Ser C (AMT) (GNMA Collateralized) 5.000 07/20/18 971,225
1,000 San Diego, CA Pub Fac Fin Auth Swr Rev (FGIC Insd) 5.000 05/15/20 1,005,790
2,500 San Diego, CA Redev Agy Centre City Redev Proj Ser A 6.400 09/01/25 2,614,150
1,000 San Diego, CA Uni Port Dist Ser B (MBIA Insd) 5.000 09/01/24 1,035,930
1,000 San Dimas, CA Redev Agy Tax Alloc Creative Growth Ser A
(FSA Insd) 5.000 09/01/16 1,042,690
1,035 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rev Second
Ser Issue 15B (MBIA Insd) 4.800 05/01/17 1,055,597
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 1,742,386
2,000 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Ser
27A Rfdg (AMT) (MBIA Insd) 5.250 05/01/26 2,051,760
3,000 San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Ser
27A Rfdg (AMT) (MBIA Insd) 5.250 05/01/31 3,066,090
755 San Francisco, CA City & Cnty Redev Agy Lease Rev George Moscone
(XLCA Insd) (a) * 07/01/14 544,144
5,000 San Jose, CA Fin Auth Lease Rev Convention Ctr Proj Ser F Rfdg
(MBIA Insd) 5.000 09/01/17 5,230,600
1,600 San Leandro, CA Ctf Partn Lib & Fire Stations Fin (AMBAC Insd) 5.700 11/01/20 1,716,656
2,000 San Leandro, CA Ctf Partn Lib & Fire Stations Fin (AMBAC Insd) 5.750 11/01/29 2,140,700
2,500 San Marcos, CA Pub Fac Auth Rev Rols RR II R 514 (Acquired
02/10/06, cost $2,775,050) (Inverse Fltg) (AMBAC Insd) (e) 4.800 10/01/31 2,687,400
2,000 Sanger, CA Uni Sch Dist Rfdg (MBIA Insd) 5.600 08/01/23 2,252,580
1,350 Santa Ana, CA Uni Sch Dist (MBIA Insd) (a) 5.375 08/01/21 1,443,501
4,820 Santa Ana, CA Uni Sch Dist (MBIA Insd) 5.375 08/01/27 5,104,814
1,000 Santa Ana, CA Uni Sch Dist Ctf Partn Cap Apprec Fin Proj (FSA Insd) * 04/01/36 217,880
700 Santa Ana, CA Uni Sch Dist Spl Tax Cmnty Fac Dist No 2004-1 5.050 09/01/30 690,844
4,200 Semitropic Impt Dist Semitropic Wtr Storage Dist CA Wtr Ser A
(XLCA Insd) 5.125 12/01/35 4,361,238
1,220 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj
Rfdg (FGIC Insd) (a) 5.250 09/01/20 1,294,286
1,285 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj
Rfdg (FGIC Insd) (a) 5.250 09/01/21 1,360,828
1,350 Simi Vly, CA Cmnty Dev Agy Tax Alloc Tapo Canyon & West End Proj
Rfdg (FGIC Insd) (a) 5.250 09/01/22 1,427,126
3,305 South Orange Cnty, CA Pub Fin Auth Reassmt Rev (FSA Insd) 5.800 09/02/18 3,522,304
1,640 South Tahoe, CA Jt Pwr Fin Auth Rev Tahoe Redev Proj Area 1-A
Rfdg (FSA Insd) 5.000 10/01/29 1,686,953
2,250 South Tahoe, CA Jt Pwr Fin Redev Proj Area No 1 Ser A (AMBAC Insd) 5.000 10/01/28 2,325,915
5,000 Southern CA Pub Pwr Auth Pwr Proj Rev Multi-Projs 6.750 07/01/12 5,660,200
895 Stanton, CA Multi-Family Rev Hsg Contl Garden Apts (AMT)
(FNMA Collateralized) 5.625 08/01/29 922,727
2,745 State Center, CA Cmnty Election 2002 Ser A (MBIA Insd) 5.500 08/01/28 2,970,804
1,300 Taft, CA City Elem Sch Dist Ser A (MBIA Insd) (a) * 08/01/22 614,354
1,605 Tehachapi, CA Redev Agy Tax Alloc Tehachapi Redev Proj (Radian Insd) 5.250 12/01/35 1,678,268
10,000 Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd Bd Ser A-1 5.375 06/01/38 10,153,800
10,800 Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd Bd Ser A-1 5.500 06/01/45 10,999,476
4,000 Tobacco Sec Auth Southn CA Tob Settlement Sr Ser A 1 5.000 06/01/37 3,916,600
6,000 Tobacco Sec Auth Southn CA Tob Settlement Sr Ser A 1 5.125 06/01/46 5,889,600
4,000 University of CA Ctf Part San Diego Campus Proj Ser A 5.250 01/01/32 4,123,760
10,000 University of CA Rev Hosp UCLA Med Ctr Ser A (AMBAC Insd) 5.250 05/15/30 10,472,600
1,000 University of CA Rev Resh Fac Ser E (AMBAC Insd) 5.000 09/01/19 1,037,610
2,200 Ventura Cnty, CA Cmnty College Ser A (MBIA Insd) 5.500 08/01/23 2,382,666
1,000 Vista, CA Mobile Home Pk Rev Estrella De Oro Mobile Home Ser A
(Prerefunded @ 02/01/25) 5.875 02/01/28 1,049,480
1,000 Vista, CA Uni Sch Dist Ser A (FSA Insd) 5.000 08/01/23 1,038,280
2,000 Woodland, CA Fin Auth Lease Rev Cap Proj Rfdg (XLCA Insd) 5.000 03/01/25 2,068,320
--------------
532,021,337
--------------
PUERTO RICO 3.6%
2,500 Childrens Tr Fd PR Tob Settlement Rev Asset Bkd Bd 5.625 05/15/43 2,573,075
5,000 Puerto Rico Comwlth Hwy & Tran Auth Hwy Rev Ser Y Rfdg (FSA Insd) 6.250 07/01/21 6,068,250
4,000 Puerto Rico Elec Pwr Auth Pwr Rev Ser II (XLCA Insd) 5.375 07/01/17 4,313,240
--------------
12,954,565
--------------
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 3,275,670
2,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A 6.500 10/01/24 2,177,240
1,000 Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt Ser A
(ACA Insd) 6.125 10/01/29 1,076,850
--------------
6,529,760
--------------
TOTAL LONG-TERM INVESTMENTS 155.4%
(Cost $528,620,125) 551,505,662
TOTAL SHORT-TERM INVESTMENTS 1.1%
(Cost $4,000,000) 4,000,000
--------------
TOTAL INVESTMENTS 156.5%
(Cost $532,620,125) 555,505,662
LIABILITIES IN EXCESS OF OTHER ASSETS (0.1%) (444,361)
PREFERRED SHARES (INCLUDING ACCRUED DISTRIBUTIONS) (56.4%) (200,244,762)
--------------
NET ASSETS APPLICABLE TO COMMON SHARES 100.0% $ 354,816,539
==============
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) Security is a "step-up" bond where the coupon increases or steps up at a predetermined date.
(c) Securities purchased on a when-issued or delayed delivery basis.
(d) All or a portion of this security has been physically segregated in connection with open futures contracts.
(e) This security is restricted and may be resold only in
transactions exempt from registration which are normally those transactions with qualified institutional buyers.
The restricted security comprises 0.8% of net assets applicable to common shares.
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
MBIA - Municipal Bond Investors Assurance Corp.
Radian - Radian Asset Assurance
XLCA - XL Capital Assurance Inc.
FUTURES CONTRACTS OUTSTANDING AS OF JULY 31, 2006:
SHORT CONTRACTS: CONTRACTS UNREALIZED
APPRECIATION/
DEPRECIATION
U.S. Treasury Notes 10-Year Futures September 2006 286 ($403,961)
------------ ------------
(Current Notional Value of $106,031 per contract)
SWAPS AGREEMENT OUTSTANDING AS OF JULY 31, 2006
INTEREST RATE SWAPS NOTIONAL UNREALIZED
PAY/RECEIVE FIXED EXPIRATION AMOUNT APPRECIATION
COUNTERPARTY FLOTING RATE INDEX FLOATING RATE RATE DATE (000) /DEPRECIATION
JP Morgan USD-BMA Municipal Swap Index Receive 4.480% 9/28/2026 1,300 $ (29,305)
JP Morgan USD-BMA Municipal Swap Index Receive 4.249% 9/28/2016 3,760 $ (62,986)
JP Morgan USD-BMA Municipal Swap Index Receive 4.474% 10/03/2026 7,510 $ (162,693)
----------
$ (254,984)
==========
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 21, 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: September 21, 2006
By: /s/ James W. Garrett
--------------------
Name: James W. Garrett
Title: Principal Financial Officer
Date: September 21, 2006