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)
522 Fifth Avenue, New York, New York 10036
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(Address of principal executive offices) (Zip code)
Ronald Robison
522 Fifth Avenue, New York, New York 10036
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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: 7/31/07
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, 2007 (UNAUDITED)
PAR
AMOUNT
(000) DESCRIPTION COUPON MATURITY VALUE
----------------------------------------------------------------------------------------------------
MUNICIPAL BONDS 190.6%
CALIFORNIA 185.9%
$ 3,390 Abag Fin Auth For Nonprofit Corp
CA Ctf Partn Childrens Hosp
Med Ctr (AMBAC Insd) .......................... 5.875% 12/01/19 $ 3,575,331
500 Abag Fin Auth For Nonprofit Corp
CA Ctf Partn Childrens Hosp
Med Ctr (AMBAC Insd) .......................... 6.000 12/01/29 526,935
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 2,036,060
1,020 A B C CA Uni Sch Dist Cap
Apprec Ser B (FGIC Insd) ...................... * 08/01/17 662,908
2,000 A B C CA Uni Sch Dist Cap
Apprec Ser B (FGIC Insd) ...................... * 08/01/21 1,063,880
1,610 A B C CA Uni Sch Dist Cap
Apprec Ser B (FGIC Insd) ...................... * 08/01/22 813,871
1,205 Alameda Cnty, CA Wtr Dist Rev
Rfdg (MBIA Insd) .............................. 4.750 06/01/20 1,219,797
1,000 Allan Hancock CA Jt Cmnty
College Dist Election 2006 Ser
A (FSA Insd) .................................. 4.375 08/01/31 944,720
3,540 Anaheim, CA Pub Fin Auth Lease
Rev Cap Apprec Pub Impt Proj
Ser C (FSA Insd) .............................. * 09/01/32 1,040,866
4,120 Apple Valley, CA Redev Agy Tax
Alloc Proj Area No 2
(AMBAC Insd) .................................. 5.000 06/01/37 4,250,563
2,790 Banning, CA Cmnty Redev Agy
Tax Alloc Merged Downtown
(Radian Insd) ................................. 5.000 08/01/23 2,827,832
2,750 Banning, CA Fin Auth Rev Elec
Sys Proj (XLCA Insd) .......................... 5.000 06/01/38 2,837,147
2,510 Bay Area Govt Assn CA Lease
West Sacramento Ser A (XLCA
Insd) (a) ..................................... 5.000 09/01/24 2,601,489
975 Benicia, CA Uni Sch Dist Ser B
(MBIA Insd) ................................... * 08/01/18 559,094
1,000 Beverly Hills, CA Pub Fin Auth
Wtr Rev ....................................... 4.375 06/01/37 942,730
1,725 Bonita, CA Uni Sch Dist Election
2004 Ser A (MBIA Insd) (a) .................... 5.250 08/01/22 1,851,166
1,055 Borrego, CA Wtr Dist Ctf Partn
Wtr Sys Acquisition (a) ....................... 7.000 04/01/27 1,080,003
3,535 Brea, CA Redev Agy Tax Alloc
Rfdg Ser A (AMBAC Insd) (a) ................... 5.500 08/01/20 3,757,351
1,390 Brea & Olinda, CA Uni Sch Dist
Ctf Partn Rfdg Ser A (FSA
Insd) (a) ..................................... 5.500 08/01/19 1,480,614
1,510 Brea & Olinda, CA Uni Sch Dist
Ctf Partn Rfdg Ser A (FSA
Insd) (a) ..................................... 5.500 08/01/20 1,608,437
635 Burbank, CA Pub Fin Auth Rev Golden
St Redev Ser A (AMBAC Insd)
(Prerefunded @ 12/01/13) ...................... 5.250 12/01/23 687,292
865 Burbank, CA Pub Fin Auth Rev Golden
St Redev Ser A (AMBAC Insd) ................... 5.250 12/01/23 915,983
2,060 Burbank, CA Wastewtr Treatment
Rev Ser A (AMBAC Insd) ........................ 5.000 06/01/29 2,121,718
3,000 California Cnty, CA Tob Sec Agy
Tob Asset Bkd Los Angeles Cnty
Sec (b) ...................................... 0/5.450 06/01/28 2,599,620
2,000 California Cnty, CA Tob Sec Agy
Tob Merced Cnty Rfdg Ser A .................... 5.125 06/01/38 1,893,320
5,000 California Cnty, CA Tob Sec Agy
Tob Merced Cnty Rfdg Ser A .................... 5.250 06/01/45 4,774,800
4,000 California Cnty, CA Tob Sec Agy
Tob Sonoma Cnty Corp Rfdg ..................... 5.125 06/01/38 3,786,640
2,000 California Ed Fac Auth Rev CA
College Arts .................................. 5.000 06/01/35 1,951,420
1,500 California Ed Fac Auth Rev
Golden Gate Univ .............................. 5.000 10/01/36 1,462,800
1,000 California Ed Fac Auth Rev Pitzer
College Ser A ................................. 5.000 04/01/30 1,022,290
3,210 California Ed Fac Auth Rev Pitzer
College Ser A ................................. 5.000 04/01/35 3,264,987
2,000 California Ed Fac Auth Rev
Pooled College & Univ Proj Ser
B ............................................. 5.250 04/01/24 2,018,760
1,000 California Ed Fac Auth Rev
Pooled College & Univ Ser B ................... 6.625 06/01/20 1,060,010
2,000 California Ed Fac Auth Rev
Pooled College & Univ Ser
B ............................................. 6.750 06/01/30 2,115,940
1,500 California Ed Fac Auth Rev Univ
of Redlands Ser A ............................. 5.000 10/01/31 1,533,195
2,000 California Hlth Fac Fin Auth Rev
Cedars Sinai Med Ctr Rfdg ..................... 5.000 11/15/27 2,024,220
1,100 California Hlth Fac Fin Auth Rev
Kaiser Permanente Ser A ....................... 5.000 04/01/37 1,101,463
700 California Hlth Fac Fin Auth Rev
Kaiser Permanente Ser A ....................... 5.250 04/01/39 713,615
10,000 California Hlth Fac Fin Auth Rev
Sutter Hlth Ser A (c) ......................... 5.000 11/15/42 10,054,650
8,480 California Hsg Fin Agy Rev
Home Mtg Ser G (AMT) (c)(d) ................... 4.950 08/01/23 8,534,654
13,400 California Hsg Fin Agy Rev
Home Mtg Ser I (AMT) (c) ...................... 4.800 08/01/36 12,939,543
7,000 California Hsg Fin Agy Rev
Home Mtg Ser I (AMT) (c) ...................... 4.875 08/01/41 6,767,373
5,140 California Hsg Fin Agy Rev
Home Mtg Ser M (AMT) (c) ...................... 4.700 08/01/36 4,867,156
3,000 California Hsg Fin Agy Rev
Multi-Family Hsg III Ser A
(MBIA Insd) (AMT) ............................. 5.850 08/01/17 3,040,770
2,000 California Infrastructure & Econ
Dev Bk Rev Bay Area Toll Brdg
First Lien Ser A (FGIC Insd)
(Prerefunded @ 01/01/28) ...................... 5.000 07/01/29 2,181,760
1,000 California Pollutn Ctl Fin Auth
Pollutn Ctl Rev Gas & Elec Rfdg
Ser A (MBIA-IBC Insd) ......................... 5.900 06/01/14 1,118,260
1,000 California Pollutn Ctl Fin Auth
Solid Waste Disp Rev Waste
Mgmt Inc Proj Ser B (AMT) ..................... 5.000 07/01/27 971,100
2,500 California Pollutn Ctl Fin Auth
Solid Waste Disp Rev Waste
Mgmt Inc Proj Ser C (AMT) (e) ................. 5.125 11/01/23 2,486,175
35 California Rural Home Mtg Fin
Auth Single Family Mtg Rev Mtg
Bkd Sec Pgm Ser B (GNMA
Collateralized) (AMT) ......................... 6.150 06/01/20 35,629
55 California Rural Home Mtg Fin
Auth Single Family Mtg Rev Mtg
Bkd Sec Pgm Ser B (GNMA
Collateralized) (AMT) ......................... 6.250 12/01/31 56,041
10 California Rural Home Mtg Fin
Auth Single Family Mtg Rev Mtg
Bkd Sec Pgm Ser C (GNMA
Collateralized) (AMT) ......................... 7.500 08/01/27 10,162
10 California Rural Home Mtg Fin
Auth Single Family Mtg Rev Mtg
Bkd Sec Ser A-2 (GNMA
Collateralized) (AMT) ......................... 7.950 12/01/24 10,364
30 California Rural Home Mtg Fin
Auth Single Family Mtg Rev Ser
C (GNMA Collateralized)
(AMT) ......................................... 7.800 02/01/28 30,534
1,060 California Spl Dist Assn Fin Corp
Ctf Part Spl Dist Fin Pgm Ser
KK (FSA Insd) (a) ............................. 5.800 11/01/29 1,110,986
2,110 California Spl Dist Fin Pgm Ser 00
(MBIA Insd) (a) ............................... 5.250 12/01/26 2,180,769
2,000 California St (CIFG Insd) ........................ 5.000 10/01/22 2,075,380
3,000 California St (FGIC Insd) (a) .................... 5.000 10/01/23 3,059,010
1,000 California St (MBIA-IBC Insd) (a) ................ 5.000 02/01/26 1,036,620
9,000 California St Dept Vet Affairs Home
Pur Rev Ser A (AMT) (c) ....................... 4.950 12/01/37 8,950,455
835 California St Dept Wtr Res Rev
Ser W ......................................... 5.500 12/01/17 889,492
1,000 California St Pub Wks Brd Dept
Corrections Ser C ............................. 5.500 06/01/23 1,077,050
2,340 California St Rfdg (FGIC Insd) ................... 5.000 02/01/23 2,372,386
10,000 California St Univ Rev Syswide
Ser D (FSA Insd) (c) .......................... 4.500 11/01/37 9,577,050
2,500 California St Var Purp (CIFG
Insd) ......................................... 5.000 03/01/33 2,581,900
5,000 California St Var Purp (c) ....................... 5.000 06/01/37 5,138,525
960 California St Vet Ser BJ (AMT) ................... 5.700 12/01/32 973,094
9,840 California St Vet Ser CD
(AMT) (c) ..................................... 4.600 12/01/32 10,056,849
2,230 California Statewide Cmnty Dev
Auth CHF Irvine LLC UCI East
Rfdg .......................................... 5.000 05/15/38 2,231,405
1,250 California Statewide Cmnty Dev Auth
Rev CA Baptist Univ Ser A ..................... 5.500 11/01/38 1,263,775
12,000 California Statewide Cmnty Dev
Auth Rev Daughters of Charity
Hlth Ser A (c) ................................ 5.000 07/01/39 11,728,260
3,000 California Statewide Cmnty Dev
Auth Rev Daughters of Charity
Hlth Ser A .................................... 5.250 07/01/30 3,041,550
4,355 California Statewide Cmnty Dev
Auth Rev Daughters of Charity
Hlth Ser A .................................... 5.250 07/01/35 4,398,332
3,000 California Statewide Cmnty Dev
Auth Rev Hlth Fac Adventist
Hlth Ser A .................................... 5.000 03/01/35 3,001,740
2,800 California Statewide Cmnty Dev
Auth Rev Kaiser Permanente
Ser B ......................................... 5.000 03/01/41 2,795,352
4,200 California Statewide Cmnty Dev
Auth Rev Kaiser Permanente
Ser B ......................................... 5.250 03/01/45 4,266,486
3,500 California Statewide Cmnty Dev
Auth Rev Kaiser Permanente
Ser C ......................................... 5.250 08/01/31 3,590,860
1,000 California Statewide Cmnty Dev
Auth Rev Windrush Sch (d) ..................... 5.500 07/01/37 1,002,600
1,280 California Statewide Cmnty Dev
Auth Wtr Rev Pooled Fin Pgm
Ser C (FSA Insd) .............................. 5.250 10/01/28 1,342,003
1,325 California Statewide Cmnty Dev
Auth Wtr & Wastewtr Rev
Pooled Fin Pgm Ser B (FSA
Insd) ......................................... 5.250 10/01/23 1,401,293
1,595 Cardiff, CA Sch Dist Cap Apprec
(FGIC Insd) (a) ............................... * 08/01/24 727,671
1,675 Cardiff, CA Sch Dist Cap Apprec
(FGIC Insd) (a) ............................... * 08/01/25 724,588
2,000 Carson, CA Redev Agy Tax Alloc
Rfdg Ser A (MBIA Insd) ........................ 5.000 10/01/23 2,080,440
1,095 Cathedral City, CA Impt Bd Act
1915 Ltd Oblig Cove Impt Dist
04-02 (a) ..................................... 5.000 09/02/22 1,100,793
850 Cathedral City, CA Ltd Oblig Cove
Impt Dist 04-02 ............................... 5.000 09/02/23 850,229
1,085 Cathedral City, CA Pub Fin Auth
Rev Cap Apprec Ser A (MBIA
Insd) (a) ..................................... * 08/01/27 422,651
1,085 Cathedral City, CA Pub Fin Auth
Rev Cap Apprec Ser A (MBIA
Insd) (a) ..................................... * 08/01/28 400,712
1,085 Cathedral City, CA Pub Fin Auth
Rev Cap Apprec Ser A (MBIA
Insd) (a) ..................................... * 08/01/30 363,627
1,085 Cathedral City, CA Pub Fin Auth
Rev Cap Apprec Ser A (MBIA
Insd) (a) ..................................... * 08/01/31 345,941
1,085 Cathedral City, CA Pub Fin Auth
Rev Cap Apprec Ser A (MBIA
Insd) (a) ..................................... * 08/01/32 329,037
1,085 Cathedral City, CA Pub Fin Auth
Rev Cap Apprec Ser A (MBIA
Insd) (a) ..................................... * 08/01/33 313,706
400 Cathedral City, CA Pub Fin Auth
Rev Sub-tax Alloc Redev Proj
Ser C ......................................... 4.500 08/01/35 365,820
2,000 Central Vly Fin Auth CA
Cogeneration Proj Rev Carson
Ice-Gen Proj Rfdg (MBIA Insd) ................. 5.000 07/01/17 2,043,220
220 Cerritos, CA Cmnty College Dist
Election 2004 Ser A (MBIA
Insd) (a) ..................................... 5.000 08/01/27 228,349
2,500 Chaffey, CA Uni High Sch Dist
Ser C (FSA Insd) .............................. 5.000 05/01/27 2,588,150
4,000 Chaffey Cmnty College Dist CA
Election 2002 Ser C (MBIA
Insd) ......................................... 5.000 06/01/32 4,186,760
1,805 Channel Island Beach, CA Cmnty
Svc Dist Swr Rev Ctf Partn Ser
A (Radian Insd) (a) ........................... 5.250 11/01/35 1,847,923
1,700 Chino Vly Uni Sch Dist CA Ctf
Partn Rfdg Ser A (FSA Insd) ................... 5.375 09/01/20 1,802,051
2,000 Chula Vista, CA Cmnty Fac Dist
Spl Tax No 01-1 Impt Area San
Miguel Ser B .................................. 5.350 09/01/26 2,028,720
2,000 Chula Vista, CA Indl Dev Rev San
Diego Gas Ser A ............................... 5.300 07/01/21 2,091,420
1,540 Chula Vista, CA Redev Agy Tax
Alloc Sub Bayfront Rfdg Ser B ................. 5.250 10/01/27 1,543,080
1,605 Coachella, CA Fin Auth Tax Alloc
Rev Redev Proj 4 Rfdg Ser B
(XLCA Insd) ................................... 5.250 09/01/34 1,682,393
1,000 Coachella, CA Redev Agy Tax
Alloc Proj Area No 3 Rfdg ..................... 5.875 12/01/28 1,021,410
2,900 Colton, CA Jt Uni Sch Dist Ser A
(FGIC Insd) ................................... 5.500 08/01/22 3,138,815
2,000 Colton, CA Redev Agy Tax Alloc Mt
Vernon Corridor Redev Proj .................... 6.300 09/01/36 2,089,060
1,600 Commerce, CA Jt Pwr Fin Auth
Lease Rev Cmnty Ctr Proj
(XLCA Insd) ................................... 5.000 10/01/29 1,644,992
2,000 Commerce, CA Jt Pwr Fin Auth
Lease Rev Cmnty Ctr Proj
(XLCA Insd) ................................... 5.000 10/01/34 2,051,680
1,965 Contra Costa Cnty, CA Ctf Partn
Merrithew Mem Hosp Proj Rfdg
(MBIA Insd) ................................... 5.500 11/01/22 2,011,394
1,250 Corona Norco, CA Uni Sch Dist
Cap Apprec Ser B
(FSA Insd) (f) ................................ * 09/01/16 851,075
1,595 Corona Norco, CA Uni Sch Dist
Cap Apprec Ser B (FSA Insd) ................... * 09/01/17 1,032,778
1,735 Corona Norco, CA Uni Sch Dist
Cap Apprec Ser B (FSA
Insd) (a) ..................................... * 09/01/18 1,067,910
1,525 Crescenta Vly, CA Wtr Dist Rev
Ctf Partn Wtr Sys Impt Proj
(FSA Insd) .................................... 4.375 06/01/37 1,416,527
1,245 Duarte, CA Multi-Family Rev Hsg
Heritage Pk Apt Ser A (FNMA
Collateralized) (AMT) ......................... 5.850 05/01/30 1,271,967
1,185 El Cajon, CA Redev Agy Tax Alloc
El Cajon Redev Proj (AMBAC
Insd) ......................................... 4.250 10/01/30 1,093,779
1,280 El Cerrito, CA Redev Agy Tax
Alloc Redev Proj Area Rfdg Ser
B (MBIA Insd) (AMT) (a) ....................... 5.250 07/01/15 1,332,736
1,220 Emeryville, CA Pub Fin Auth Rev
Assmt Dist Refin .............................. 5.900 09/02/21 1,245,108
1,000 Emeryville, CA Pub Fin Auth Rev
Shellmound Pk Redev & Hsg
Proj Ser B (MBIA Insd) ........................ 5.000 09/01/19 1,020,670
5,155 Florin, CA Res Consv Dist Cap
Impt Elk Grove Wtr Svc Ser A
(MBIA Insd) ................................... 5.000 09/01/33 5,313,826
3,000 Folsom, CA Pub Fin Auth Spl Tax
Rev Ser A (AMBAC Insd) ........................ 5.000 09/01/28 3,136,500
3,000 Folsom, CA Spl Tax Cmnty Fac
Dist No 2 Rfdg (Connie Lee
Insd) ......................................... 5.250 12/01/19 3,073,200
1,010 Folsom Cordova, CA Uni Sch Dist
Fac Impt Dist No 1 Cap Apprec
Ser A (AMBAC Insd) (a) ........................ * 10/01/19 586,335
1,060 Folsom Cordova, CA Uni Sch Dist
Fac Impt Dist No 1 Cap Apprec
Ser A (AMBAC Insd) (a) ........................ * 10/01/21 556,542
1,000 Fontana, CA Redev Agy Tax Alloc
Southwest Indl Park Proj (MBIA
Insd) ......................................... 5.000 09/01/22 1,018,560
1,950 Fontana, CA Redev Agy Tax Alloc
Southwest Indl Park Proj (MBIA
Insd) ......................................... 5.200 09/01/30 1,990,677
5,000 Fontana, CA Uni Sch Dist Ctf
Partn Fin Proj (FSA Insd) ..................... 4.500 09/01/35 4,816,850
2,950 Foothill/Eastern Corridor Agy CA
Toll Rd Rev (g) ............................... * 01/01/27 1,196,962
10,000 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Cap Apprec Rfdg ................... * 01/15/25 3,686,000
15,000 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Cap Apprec Rfdg ................... * 01/15/26 5,203,800
11,000 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Cap Apprec Rfdg ................... * 01/15/30 2,987,930
5,000 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Cap Apprec Rfdg ................... * 01/15/31 1,277,150
5,500 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Conv Cap Apprec
Rfdg (b) ...................................... 0/5.875 01/15/27 5,149,870
1,000 Foothill/Eastern Corridor Agy CA
Toll Rd Rev Rfdg .............................. 5.750 01/15/40 1,037,290
1,000 Galt Schs Jt Pwrs Auth CA Rev
High Sch & Elem Sch Rfdg Ser
A (MBIA Insd) ................................. 5.750 11/01/16 1,024,900
1,115 Garden Grove, CA Pub Fin Auth
Rev Ctf Partn Wtr Svc Cap Impt
Pgm (FSA Insd) ................................ 5.000 12/15/23 1,158,452
2,500 Glendale, CA Uni Sch Dist Ser C
(FSA Insd) .................................... 5.500 09/01/19 2,608,150
2,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Asset Bkd
Ser A-1 ....................................... 5.125 06/01/47 1,868,540
11,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Asset Bkd
Ser A-1 (c) ................................... 5.125 06/01/47 10,616,132
2,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Asset Bkd
Ser A-1 ....................................... 5.750 06/01/47 2,062,700
5,000 Golden St Tob Sec Corp CA Tob
Settlement Rev Asset Bkd
Ser A-1 (c) ................................... 5.750 06/01/47 5,010,512
5,000 Hawthorne, CA Spl Tax Cmnty Fac
Dist No 2006-1 (c) ............................ 5.000 09/01/36 4,955,463
2,000 Hesperia, CA Uni Sch Dist Ctf
Partn Cap Impt Proj
(AMBAC Insd) .................................. 4.500 02/01/35 1,928,140
5,000 Hollister, CA Jt Pwr Fin Auth
Wastewtr Rev Rfdg & Impt Proj
Ser 1 (FSA Insd) (c) .......................... 4.500 06/01/37 4,782,225
2,820 Huntington Beach, CA Uni High
Sch Dist Election 2004
(FGIC Insd) ................................... 5.000 08/01/35 2,949,889
1,000 Huntington Pk, CA Pub Fin Auth
Lease Rev Wastewtr Sys Proj
Ser A ......................................... 6.200 10/01/25 1,021,580
3,000 Imperial Irr Dist CA Ctf Partn Elec
Sys Proj (FSA Insd) ........................... 5.250 11/01/23 3,157,050
1,000 Independent Cities, CA Lease Fin
Auth Mobile Home Pk Rev
Westlake Mobile Home Pk Rfdg
Ser A ......................................... 4.500 10/15/32 910,060
250 Independent Cities, CA Lease Fin
Auth Mobile Home Pk Rev
Westlake Mobile Home Pk Rfdg
Ser A ......................................... 4.500 10/15/37 223,467
3,435 Irvine, CA Pub Fac &
Infrastructure Auth Assmt Rev
Ser B (AMBAC Insd) (a) ........................ 5.000 09/02/22 3,540,626
1,410 Jurupa, CA Cmnty Svc Dist Spl
Tax Cmnty Fac Dist No 21 Ser
A ............................................. 5.000 09/01/26 1,400,511
1,000 Kern, CA Cmnty College Sch Fac
Impt Dist Mammoth
Campus/Kern Cmnty Ser A
(AMBAC Insd) (a) .............................. * 08/01/22 505,510
800 Kern, CA Cmnty College Sch Fac
Impt Dist Mammoth
Campus/Kern Cmnty Ser A
(AMBAC Insd) (a) .............................. 5.000 08/01/19 827,960
1,000 La Quinta, CA Fin Auth Loc Ser A
(AMBAC Insd) .................................. 5.250 09/01/24 1,064,790
1,420 La Quinta, CA Redev Agy Tax
Alloc Redev Proj Area No 1
(AMBAC Insd) .................................. 5.000 09/01/22 1,478,334
1,500 La Quinta, CA Redev Agy Tax
Redev Proj Area No 1 (AMBAC
Insd) ......................................... 5.125 09/01/32 1,559,775
1,000 Laguna Hills, CA Ctf Partn Cmnty
Ctr Proj (MBIA Insd) .......................... 5.000 12/01/18 1,035,950
1,105 Larkspur, CA Sch Dist Cap
Apprec Ser A (FGIC Insd) (a) .................. * 08/01/20 613,341
1,145 Larkspur, CA Sch Dist Cap
Apprec Ser A (FGIC Insd) (a) .................. * 08/01/21 605,739
1,000 Lathrop, CA Impt Bd Act 1915
Mossdale Vlg Assmt Dist 03-1 .................. 5.000 09/02/25 984,170
2,000 Lemon Grove, CA Cmnty Dev Agy
Tax Alloc Redev Proj Area
(AMBAC Insd) .................................. 4.500 08/01/37 1,918,940
5,000 Loma Linda, CA Hosp Rev Loma
Linda Univ Med Ctr Ser A ...................... 5.000 12/01/22 5,052,300
1,000 Loma Linda, CA Redev Agy Tax
Loma Linda Redev Proj Rfdg
(MBIA Insd) ................................... 5.125 07/01/30 1,045,360
145 Long Beach, CA Bd Fin Auth Tax
Alloc Rev North Long Beach
Redev Proj Ser A (AMBAC
Insd) ......................................... 5.375 08/01/21 153,854
3,555 Long Beach, CA Hbr Rev Ser A
(FGIC Insd) (AMT) ............................. 5.250 05/15/18 3,664,281
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 2,064,900
2,315 Los Angeles, CA Cmnty Redev
Agy Multi-Family Hsg Rev Grand
Cent Square Rfdg (AMBAC Insd)
(AMT) (a) ..................................... 4.750 12/01/26 2,267,543
1,900 Los Angeles, CA Ctf Partn ........................ 5.700 02/01/18 1,943,643
1,000 Los Angeles, CA Ctf Partn Dept
Pub Social Svc Ser A (AMBAC
Insd) ......................................... 5.500 08/01/31 1,037,410
3,000 Los Angeles, CA Ctf Partn Sr
Sonnenblick Del Rio W L A
(AMBAC Insd) .................................. 6.000 11/01/19 3,217,290
2,000 Los Angeles, CA Dept Wtr & Pwr
Sys Ser C (MBIA Insd) ......................... 5.000 07/01/26 2,102,460
25 Los Angeles, CA Single Family
Home Mtg Rev Pgm Ser A
(GNMA Collateralized) (AMT) ................... 6.875 06/01/25 25,582
1,000 Los Angeles, CA Wtr & Pwr Rev
Sys Ser A (MBIA Insd) ......................... 5.375 07/01/18 1,049,540
2,000 Los Angeles Cnty, CA Metro Tran
Auth Sales Tax Rev Prop A First
Tier Sr Rfdg Ser C (AMBAC
Insd) ......................................... 5.000 07/01/23 2,048,940
1,200 Los Angeles Cnty, CA Sch
Regionalized Business Svc Ctf
Partn Cap Apprec Pooled Fin
Ser A (AMBAC Insd) ............................ * 08/01/26 484,584
1,250 Los Angeles Cnty, CA Sch
Regionalized Business Svc Ctf
Partn Cap Apprec Pooled Fin
Ser A (FSA Insd) .............................. 5.000 09/01/28 1,284,563
2,755 Los Angeles Cnty, CA Sch Ser B
(MBIA Insd) ................................... 5.000 11/01/24 2,857,348
2,840 Los Banos, CA Redev Agy Tax
Alloc Los Banos Redev Proj
(Radian Insd) ................................. 4.500 09/01/36 2,545,435
1,190 Lynwood, CA Util Auth Enterp Rev
(FSA Insd) (a) ................................ 5.000 06/01/25 1,231,019
3,650 Manhattan Beach, CA Uni Sch
Dist Cap Apprec Ser B (FGIC
Insd) ......................................... * 09/01/22 1,838,140
2,000 Maywood, CA Cmnty Dev Commn
Tax Alloc Merged Maywood
Redev Proj Area
(Radian Insd) ................................. 4.500 08/01/27 1,861,320
2,000 Mendocino Cnty, CA Ctf Partn
Cnty Pub Fac Corp (MBIA
Insd) ......................................... 5.250 06/01/30 2,093,180
3,400 Metropolitan Wtr Dist Southn CA
Auth Ser B-2 (FGIC Insd) ...................... 5.000 10/01/26 3,527,160
1,385 Metropolitan Wtr Dist Southn CA
Wtrwks Rev Rfdg Ser B ......................... 4.375 07/01/37 1,306,249
1,710 Modesto, CA Irr Dist Ctf Partn
Cap Impts Ser A (FSA Insd) .................... 5.250 07/01/17 1,799,228
2,000 Montclair, CA Redev Agy Mobile
Home Pk Rev Hacienda Mobile
Home Pk Proj .................................. 6.000 11/15/22 2,094,000
3,180 Mount Diablo, CA Uni Sch Dist
(FSA Insd) .................................... 5.000 08/01/26 3,284,972
1,110 Mountain View Los Altos, CA Uni
High Sch Dist Cap Apprec Ser
D (FSA Insd) (a) .............................. * 08/01/24 506,404
1,730 National City, CA Cmnty Dev
Commn Tax Alloc National City
Redev Proj Ser A (AMBAC
Insd) (a) ..................................... 5.500 08/01/32 1,849,924
1,670 National City, CA Cmnty Dev
Commn Tax Alloc Redev Proj
Rfdg Ser B (AMBAC Insd) (a) ................... 5.000 08/01/25 1,729,652
1,000 National City, CA Cmnty Dev
Commn Tax Alloc Redev Proj
Rfdg Ser B (AMBAC Insd) ....................... 5.250 08/01/32 1,050,480
2,000 Needles, CA Pub Util Auth Util
Sys Acquisition Proj Ser A .................... 6.500 02/01/22 2,042,540
1,500 Norco, CA Spl Tax Cmnty Fac
Dist No 97-1 Rfdg (Asset Gty
Insd) ......................................... 4.875 10/01/30 1,515,000
1,225 Novato, CA Uni Sch Dist (FSA
Insd) ......................................... 5.000 08/01/28 1,269,994
985 Oceanside, CA Cmnty Fac No
2001-1 Morro Hills Dev ........................ 5.500 09/01/34 1,007,842
3,000 Oxnard, CA Harbor Dist Rev Ser
B ............................................. 6.000 08/01/24 3,234,480
1,000 Oxnard, CA Uni High Sch Dist
Rfdg Ser A (MBIA Insd) ........................ 6.200 08/01/30 1,148,410
1,965 Pacifica, CA Wastewtr Rev Rfdg
(AMBAC Insd) (a) .............................. 5.250 10/01/22 2,087,066
1,230 Palm Desert, CA Fin Auth Tax
Alloc Rev Proj Area No 2 Rfdg
Ser A (MBIA Insd) (a) ......................... 5.000 08/01/21 1,288,769
250 Palm Springs, CA Arpt Sub Palm
Springs Intl Arpt Rfdg (AMT) .................. 5.450 07/01/20 253,423
530 Palm Springs, CA Arpt Sub Palm
Springs Intl Arpt Rfdg (AMT) .................. 5.550 07/01/28 534,834
255 Pasadena, CA Spl Tax Cmnty Fac
Dist No 1 Civic Ctr West (g) .................. * 12/01/07 251,805
4,350 Perris, CA Pub Fin Auth Rev Tax
Alloc ......................................... 5.350 10/01/36 4,407,768
1,040 Perris, CA Pub Fin Auth Rev Tax
Alloc Ser A (MBIA Insd) (a) ................... 5.000 10/01/24 1,079,884
1,000 Perris, CA Pub Fin Auth Rev Tax
Alloc Ser A (MBIA Insd) ....................... 5.000 10/01/31 1,033,060
1,000 Pico Rivera, CA Wtr Auth Rev
Wtr Sys Proj Ser A (MBIA
Insd) ......................................... 5.500 05/01/19 1,111,570
1,375 Pittsburg, CA Redev Agy Tax
Alloc Los Medanos Cmnty Dev
Proj (AMBAC Insd) ............................. * 08/01/26 559,378
3,350 Port Oakland, CA Port Rev Ser G
(MBIA Insd) (AMT) ............................. 5.375 11/01/25 3,425,007
2,500 Port Oakland, CA Rfdg Ser N
(MBIA Insd) (AMT) ............................. 5.000 11/01/22 2,555,350
1,000 Poway, CA Redev Agy Tax Alloc
Paguay Redev Proj Ser A (MBIA
Insd) ......................................... 5.000 06/15/33 1,023,690
1,875 Poway, CA Uni Sch Dist Pub Fin
Auth Rev (AMBAC Insd) ......................... 4.500 09/15/37 1,798,763
3,860 Poway, CA Uni Sch Dist Spl Tax
Cmnty Fac Dist No 6-4S Ranch
(AMBAC Insd) .................................. 5.000 09/01/35 3,991,163
2,000 Rancho Cordova Cmnty Fac Dist
CA Spl Tax No 2003-1 Sunridge
Anatolia ...................................... 6.000 09/01/24 2,047,240
1,000 Rancho Cucamonga, CA Redev
Agy Tax Alloc Rancho Redev
Proj (FSA Insd) ............................... 5.250 09/01/20 1,034,940
1,500 Rancho Mirage, CA Jt Pwr Fin
Auth Rev Eisenhower Med Ctr
Ser A (d) ..................................... 5.000 07/01/47 1,486,860
1,220 Rancho Mirage, CA Redev Agy
Tax Alloc Redev Plan 1984 Proj
Ser A-1 (MBIA Insd) ........................... 5.000 04/01/26 1,256,734
2,540 Rancho Mirage, CA Redev Agy
Tax Alloc Redev Plan 1984 Proj
Ser A-E (MBIA Insd) ........................... 5.250 04/01/33 2,631,669
3,800 Redlands, CA Redev Agy Tax
Alloc Redev Proj Rfdg Ser A
(MBIA Insd) (f) ............................... 4.750 08/01/21 3,835,416
925 Redondo Beach, CA Pub Fin Auth
Rev South Bay Ctr Redev Proj .................. 7.000 07/01/16 935,869
4,000 Redwood City, CA Sch Dist
(FGIC Insd) ................................... 5.000 07/15/23 4,145,360
3,000 Redwood City, CA Sch Dist
(FGIC Insd) ................................... 5.000 07/15/27 3,098,190
5,000 Riverside, CA Cmnty College Dist
Election of 2004 Ser C (MBIA
Insd) ......................................... 5.000 08/01/32 5,236,050
1,740 Riverside Cnty, CA Ctf Partn
Historic Ct Hse Rfdg Ser B
(FGIC Insd) (a) ............................... 5.000 11/01/25 1,805,963
2,000 RNR Sch Fin Auth CA Spl Tax
Cmnty Fac Dist No 92 1 Ser A
(AMBAC Insd) .................................. 5.000 09/01/36 2,065,520
9,640 Rohnert Pk, CA Cmnty Dev Commn
Tax Alloc Rev Hsg Redev Proj
Ser H (FGIC Insd) (c) ......................... 4.375 08/01/37 9,027,306
1,650 Roseville, CA Jt Uni High Sch
Dist Ser B (FGIC Insd) ........................ * 06/01/20 900,158
5,000 Sacramento, CA Area Flood Ctl
Agy Cons-Cap Assmt Dist Ser A
(FGIC Insd) ................................... 5.000 10/01/37 5,212,250
265 Sacramento, CA City Fin Auth
Rev Cap Impt (AMBAC Insd) ..................... 5.000 12/01/33 272,730
1,000 Sacramento, CA City Fin Auth
Rev Tax Alloc Ser A (FGIC
Insd) ......................................... 5.000 12/01/34 1,031,280
1,000 Salinas Vly, CA Solid Waste Auth
Rev (AMBAC Insd) (AMT) ........................ 5.250 08/01/27 1,031,890
2,000 Salinas Vly, CA Solid Waste Auth
Rev (AMBAC Insd) (AMT) ........................ 5.250 08/01/31 2,062,880
2,000 San Bernardino, CA Jt Pwr Fin
Auth Ctf Partn (MBIA Insd) .................... 5.500 09/01/20 2,103,360
955 San Diego, CA Hsg Auth
Multi-Family Hsg Rev Mtg Bkd
Sec Pgm Ser C (GNMA
Collateralized) (AMT) ......................... 5.000 07/20/18 966,957
1,000 San Diego, CA Pub Fac Fin Auth
Swr Rev (FGIC Insd) ........................... 5.000 05/15/20 1,000,870
2,500 San Diego, CA Redev Agy Centre
City Redev Proj Ser A ......................... 6.400 09/01/25 2,589,700
925 San Dimas, CA Redev Agy Tax
Alloc Creative Growth Ser A
(FSA Insd) .................................... 5.000 09/01/16 955,803
1,660 San Francisco, CA City & Cnty
Arpt Commn Intl Arpt Rev Spl
Fac Lease Ser A (FSA Insd)
(AMT) ......................................... 6.125 01/01/27 1,706,513
2,000 San Francisco, CA City & Cnty
Arpt Commn Intl Arpt Second
Rfdg Ser 27A (MBIA Insd)
(AMT) ......................................... 5.250 05/01/26 2,049,000
3,000 San Francisco, CA City & Cnty
Arpt Commn Intl Arpt Second
Rfdg Ser 27A (MBIA Insd)
(AMT) ......................................... 5.250 05/01/31 3,070,380
5,000 San Jose, CA Fin Auth Lease Rev
Convention Ctr Proj Rfdg Ser F
(MBIA Insd) ................................... 5.000 09/01/17 5,200,450
2,500 San Jose, CA Redev Agy Tax
Alloc Merged Area Redev Proj
Rfdg Ser C (MBIA Insd) ........................ 4.250 08/01/30 2,310,100
5,000 San Marcos, CA Pub Fac Auth Rev
Tax Increment Pass Thru Rfdg
Ser A (AMBAC Insd) (c) ........................ 5.000 10/01/31 5,202,950
2,000 Sanger, CA Uni Sch Dist Rfdg
(MBIA Insd) ................................... 5.600 08/01/23 2,240,000
1,350 Santa Ana, CA Uni Sch Dist
(MBIA Insd) (a) ............................... 5.375 08/01/21 1,431,824
4,820 Santa Ana, CA Uni Sch Dist
(MBIA Insd) ................................... 5.375 08/01/27 5,087,799
1,000 Santa Ana, CA Uni Sch Dist Ctf
Partn Cap Apprec Fin Proj (FSA
Insd) ......................................... * 04/01/36 239,250
4,200 Semitropic Impt Dist Semitropic
Wtr Storage Dist CA Wtr Ser A
(XLCA Insd) ................................... 5.125 12/01/35 4,355,526
3,305 South Orange Cnty, CA Pub Fin
Auth Reassmt Rev (FSA Insd) ................... 5.800 09/02/18 3,468,498
1,640 South Tahoe, CA Jt Pwr Fin Auth
Rev Tahoe Redev Proj Area 1-A
Rfdg (FSA Insd) ............................... 5.000 10/01/29 1,689,151
2,250 South Tahoe, CA Jt Pwr Fin
Redev Proj Area No 1 Ser A
(AMBAC Insd) .................................. 5.000 10/01/28 2,329,920
5,000 Southern CA Pub Pwr Auth Pwr
Proj Rev Multi-Projs .......................... 6.750 07/01/12 5,623,400
875 Stanton, CA Multi-Family Rev Hsg
Contl Garden Apts (FNMA
Collateralized) (AMT) ......................... 5.625 08/01/29 893,209
2,745 State Center, CA Cmnty Election
2002 Ser A (MBIA Insd) ........................ 5.500 08/01/28 2,963,804
5,000 Stockton, CA Port Dist Port Rev
Ser A (MBIA Insd) ............................. 4.500 07/01/32 4,836,100
1,000 Stockton, CA Uni Sch Dist Ctf
Partn Cap Proj (AMBAC Insd) ................... 4.375 02/01/31 945,620
1,000 Stockton, CA Uni Sch Dist Ctf
Partn Cap Proj (AMBAC Insd) ................... 4.500 02/01/36 961,780
1,605 Tehachapi, CA Redev Agy Tax
Alloc Tehachapi Redev Proj
(Radian Insd) ................................. 5.250 12/01/35 1,645,350
3,000 Temecula, CA Redev Agy Tax
Alloc Rev Redev Proj No 1 Ser A
(MBIA Insd) ................................... 4.500 08/01/38 2,867,250
10,000 Tobacco Sec Auth Northn CA Tob
Settlement Rev Asset Bkd Bd
Ser A-1 ....................................... 5.375 06/01/38 9,836,500
10,800 Tobacco Sec Auth Northn CA Tob
Settlement Rev Asset Bkd Bd
Ser A-1 ....................................... 5.500 06/01/45 10,739,412
4,000 Tobacco Sec Auth Southn CA
Tob Settlement Sr Ser A-1 ..................... 5.000 06/01/37 3,716,400
5,000 Tobacco Sec Auth Southn CA
Tob Settlement Sr Ser A-1 (c) ................. 5.125 06/01/46 4,673,700
8,000 Tobacco Sec Auth Southn CA
Tob Settlement Sr Ser A-1 ..................... 5.125 06/01/46 7,477,920
10,000 University of CA Regts Ser A
(MBIA Insd) (c) ............................... 4.500 05/15/47 9,509,900
10,000 University of CA Rev Hosp UCLA
Med Ctr Ser A (AMBAC Insd) .................... 5.250 05/15/30 10,447,700
2,200 Ventura Cnty, CA Cmnty College
Ser A (MBIA Insd) ............................. 5.500 08/01/23 2,361,084
1,000 Vista, CA Mobile Home Pk Rev
Estrella De Oro Mobile Home
Ser A (Prerefunded @
02/01/25) ..................................... 5.875 02/01/28 1,030,150
2,185 Vista, CA Uni Sch Dist Election
2002 Ser C (FSA Insd) ......................... 5.000 08/01/28 2,292,852
1,000 Vista, CA Uni Sch Dist Ser A
(FSA Insd) .................................... 5.000 08/01/23 1,036,660
2,000 Woodland, CA Fin Auth Lease
Rev Cap Proj Rfdg (XLCA
Insd) ......................................... 5.000 03/01/25 2,069,420
-------------
641,858,964
-------------
PUERTO RICO 3.5%
5,000 Puerto Rico Comwlth Hwy & Tran
Auth Hwy Rev Rfdg Ser Y (FSA
Insd) ......................................... 6.250 07/01/21 6,056,950
1,780 Puerto Rico Elec Pwr Auth Pwr
Rev Ser TT (c) ................................ 5.000 07/01/32 1,828,710
4,000 Puerto Rico Elec Pwr Auth Pwr
Rev Ser TT (c) ................................ 5.000 07/01/37 4,109,460
-------------
11,995,120
-------------
U.S. VIRGIN ISLANDS 1.2%
3,000 Virgin Islands Pub Fin Auth Rev
Gross Rcpt Taxes Ln Nt Ser A .................. 6.375 10/01/19 3,224,610
1,000 Virgin Islands Wtr & Pwr Auth
Elec Sys Rev Ser A ............................ 5.000 07/01/31 1,000,730
-------------
4,225,340
-------------
TOTAL INVESTMENTS 190.6%
(Cost $644,339,382)............................................................... 658,079,424
LIABILITY FOR FLOATING RATE NOTE OBLIGATIONS RELATED TO SECURITIES HELD (32.9%)
(Cost ($113,460,000))
(113,460) Notes with interest rates ranging from 3.610% to 3.740% at
July 31, 2007 and contractual maturities of collateral
ranging from 2023 to 2047 (h) .......................................... (113,460,000)
-------------
TOTAL NET INVESTMENTS 157.7%
(Cost $530,879,382)............................................................... 544,619,424
OTHER ASSETS IN EXCESS OF LIABILITIES 0.3%......................................... 973,667
PREFERRED SHARES (INCLUDING ACCRUED DISTRIBUTIONS) (58.0%).......................... (200,304,939)
-------------
NET ASSETS APPLICABLE TO COMMON SHARES 100.0%....................................... $ 345,288,152
=============
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) Underlying security related to Inverse Floaters entered into by the Trust.
(d) Security purchased on a when-issued or delayed delivery basis.
(e) Variable Rate Coupon
(f) All or a portion of this security has been physically segregated in connection with open
futures contracts.
(g) Escrowed to Maturity
(h) Floating rate notes. The interest rates shown reflect the rates in effect at July 31, 2007.
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.
MBIA-IBC - MBIA Insured Bond Certificates
Radian - Radian Asset Assurance
XLCA - XL Capital Assurance Inc.
FUTURES CONTRACTS OUTSTANDING AS OF JULY 31, 2007:
UNREALIZED
APPRECIATION/
CONTRACTS DEPRECIATION
SHORT CONTRACTS:
U.S. Treasury Bond Futures, September 2007 (Current
Notional Value of $110,063 per contract) ........................ 965 $ (2,334,952)
---------- ------------
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 20, 2007
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 20, 2007
By: /s/ Stuart N. Schuldt
---------------------
Name: Stuart N. Schuldt
Title: Principal Financial Officer
Date: September 20, 2007