UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Van Kampen California Value Municipal Income Trust

 

(Exact name of registrant as specified in charter)

522 Fifth Avenue, New York, New York 10036

(Address of principal executive offices)     (Zip code)

Edward C. Wood III
522 Fifth Avenue, New York, New York 10036

(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: 1/31/09

 

 

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, 2009 (Unaudited)

Par
Amount
(000)				Description		Coupon				Maturity				Value
				Municipal Bonds 195.0%
				California 190.9%
$	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			$	2,007,080
	1,000			Allan Hancock CA Jt Cmnty College Dist Election 2006, Ser A (FSA Insd)			4.375				08/01/31				863,670
	3,540			Anaheim, CA Pub Fin Auth Lease Rev Cap Apprec Pub Impt Proj, Ser C (FSA Insd)			*				09/01/32				768,853
	4,250			Anaheim, CA Redev Agy Tax Alloc Rfdg Merged Redev Proj Area, Ser A (FSA Insd) (a)			5.000				02/01/31				3,975,641
	4,120			Apple Valley, CA Redev Agy Tax Alloc Proj Area No 2 (AMBAC Insd)			5.000				06/01/37				3,416,098
	2,790			Banning, CA Cmnty Redev Agy Tax Alloc Merged Downtown (Radian Insd)			5.000				08/01/23				2,346,278
	2,510			Bay Area Govt Assn CA Lease West Sacramento, Ser A (Syncora Gtd)			5.000				09/01/24				2,504,503
	865			Benicia, CA Uni Sch Dist, Ser B (MBIA Insd)			*				08/01/18				562,769
	3,000			Beverly Hills, CA Uni Sch Dist Cap Apprec 2008 Election (b)			*				08/01/28				967,050
	1,510			Brea & Olinda, CA Uni Sch Dist Ctf Partn Rfdg, Ser A (FSA Insd)			5.500				08/01/20				1,617,784
	3,535			Brea, CA Redev Agy Tax Alloc Rfdg, Ser A (AMBAC Insd)			5.500				08/01/20				3,383,136

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	865			Burbank, CA Pub Fin Auth Rev Golden St Redev, Ser A (AMBAC Insd)			5.250	%			12/01/23			$	794,684
	3,000			California Cnty, CA Tob Sec Agy Tob Asset Bkd Los Angeles Cnty Sec (c)			0/5.450				06/01/28				1,549,170
	2,000			California Cnty, CA Tob Sec Agy Tob Merced Cnty Rfdg, Ser A			5.125				06/01/38				1,111,480
	5,000			California Cnty, CA Tob Sec Agy Tob Merced Cnty Rfdg, Ser A			5.250				06/01/45				2,741,000
	2,000			California Ed Fac Auth Rev CA College Arts			5.000				06/01/35				1,220,700
	1,000			California Ed Fac Auth Rev Pitzer College, Ser A			5.000				04/01/30				869,590
	1,445			California Ed Fac Auth Rev Pooled College & Univ, Ser B			5.250				04/01/24				1,068,982
	1,500			California Ed Fac Auth Rev Univ of Redlands, Ser A			5.000				10/01/31				1,294,530
	3,000			California Hlth Fac Fin Auth Rev Providence Hlth & Svc, Ser C			6.500				10/01/33				3,111,210
	10,000			California Hlth Fac Fin Auth Rev Sutter Hlth, Ser A (a)			5.000				11/15/42				8,340,750
	2,300			California Hsg Fin Agy Rev Home Mtg, Ser E (FGIC Insd) (AMT)			5.000				02/01/24				2,030,900
	8,480			California Hsg Fin Agy Rev Home Mtg, Ser G (AMT) (a)			4.950				08/01/23				7,453,411
	13,400			California Hsg Fin Agy Rev Home Mtg, Ser I (AMT) (a)			4.800				08/01/36				9,752,051
	7,000			California Hsg Fin Agy Rev Home Mtg, Ser I (AMT) (a)			4.875				08/01/41				5,060,860
	5,150			California Hsg Fin Agy Rev Home Mtg, Ser M (AMT) (a)			4.700				08/01/36				3,742,402

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	3,000			California Hsg Fin Agy Rev Multi-Family Hsg III, Ser A (MBIA Insd) (AMT)			5.850	%			08/01/17			$	3,002,880
	3,755			California Hsg Fin Agy Rev, Ser B (AMT)			5.000				02/01/28				3,026,267
	1,000			California Muni Fin Auth Ed High Tech High Chula Vista, Ser B (d)			6.000				07/01/28				708,210
	1,000			California Pollutn Ctl Fin Auth Pollutn Ctl Rev Gas & Elec Rfdg, Ser A (MBIA-IBC Insd)			5.900				06/01/14				1,134,210
	4,500			California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt Inc Proj, Ser B (AMT)			5.000				07/01/27				3,181,455
	2,000			California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt Inc Proj, Ser C (AMT) (e)			5.125				11/01/23				1,506,240
	25			California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd Sec Pgm, Ser B (GNMA Collateralized) (AMT)			6.150				06/01/20				25,621
	40			California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd Sec Pgm, Ser B (GNMA Collateralized) (AMT)			6.250				12/01/31				40,588
	5			California Rural Home Mtg Fin Auth Single Family Mtg Rev Mtg Bkd Sec Pgm, Ser C (GNMA Collateralized) (AMT)			7.500				08/01/27				5,101
	15			California Rural Home Mtg Fin Auth Single Family Mtg Rev, Ser C (GNMA Collateralized) (AMT)			7.800				02/01/28				15,319

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	9,000			California St Dept Vet Affairs Home Pur Rev, Ser A (AMT) (a)			4.950	%			12/01/37			$	6,690,780
	2,750			California St Dept Vet Affairs Home Pur Rev, Ser B (AMT)			5.150				12/01/27				2,313,987
	2,000			California St Dept Wtr Res Pwr Supply Rev, Ser F-5			5.000				05/01/22				2,087,800
	10,000			California St Univ Rev Syswide, Ser D (FSA Insd) (a)			4.500				11/01/37				8,581,300
	960			California St Vet, Ser BJ (AMT)			5.700				12/01/32				827,078
	10,650			California St Vet, Ser CD (AMT) (a)			4.600				12/01/32				7,661,717
	2,500			California Statewide Cmnty Dev Auth CHF Irvine LLC UCI East Campus			5.750				05/15/32				1,746,925
	2,230			California Statewide Cmnty Dev Auth CHF Irvine LLC UCI East Rfdg			5.000				05/15/38				1,508,729
	1,250			California Statewide Cmnty Dev Auth Rev CA Baptist Univ, Ser A			5.500				11/01/38				725,962
	2,000			California Statewide Cmnty Dev Auth Rev FHA Insd Mtg Methodist Hosp Proj (FHA Gtd) (b)			6.750				02/01/38				2,018,700
	1,500			California Statewide Cmnty Dev Auth Rev Front Porch Cmnty & Svc, Ser A (d)			5.125				04/01/37				907,560
	1,825			California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth, Ser A			5.000				03/01/19				1,817,061

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	2,750			California Statewide Cmnty Dev Auth Rev Insd Enloe Med Ctr (CA MTG Insd)			6.250	%			08/15/28			$	2,770,515
	1,000			California Statewide Cmnty Dev Auth Rev Windrush Sch (i)			5.500				07/01/37				584,890
	1,280			California Statewide Cmnty Dev Auth Wtr Rev Pooled Fin Pgm, Ser C (FSA Insd)			5.250				10/01/28				1,284,109
	1,000			California Statewide Cmntys Dev Auth Spl Tax Cmnty Fac Dist 2007-1 Orinda			6.000				09/01/29				751,390
	260			Carlsbad, CA Spl Tax Escrow Cmnty Fac 3 Impt Area 2			6.050				09/01/28				201,240
	845			Carlsbad, CA Spl Tax Escrow Cmnty Fac 3 Impt Area 2			6.150				09/01/38				616,842
	2,000			Carson, CA Redev Agy Tax Alloc Rfdg, Ser A (MBIA Insd)			5.000				10/01/23				1,918,140
	1,085			Cathedral City, CA Pub Fin Auth Rev Cap Apprec, Ser A (MBIA Insd) (i)			*				08/01/27				334,006
	1,085			Cathedral City, CA Pub Fin Auth Rev Cap Apprec, Ser A (MBIA Insd) (i)			*				08/01/28				309,290
	1,085			Cathedral City, CA Pub Fin Auth Rev Cap Apprec, Ser A (MBIA Insd) (i)			*				08/01/30				267,995
	1,085			Cathedral City, CA Pub Fin Auth Rev Cap Apprec, Ser A (MBIA Insd) (i)			*				08/01/31				248,942
	1,085			Cathedral City, CA Pub Fin Auth Rev Cap Apprec, Ser A (MBIA Insd) (i)			*				08/01/32				231,593

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	1,085			Cathedral City, CA Pub Fin Auth Rev Cap Apprec, Ser A (MBIA Insd) (i)			*				08/01/33			$	215,839
	2,000			Central Vly Fin Auth CA Cogeneration Proj Rev Carson Ice Gen Proj Rfdg (MBIA Insd)			5.000	%			07/01/17				2,016,820
	220			Cerritos, CA Cmnty College Dist Election 2004, Ser A (MBIA Insd)			5.000				08/01/27				220,944
	2,500			Chaffey, CA Uni High Sch Dist, Ser C (FSA Insd)			5.000				05/01/27				2,507,400
	3,000			Chaffey Cmnty College Dist CA Election 2002, Ser C (MBIA Insd)			5.000				06/01/32				2,911,350
	1,700			Chino Vly Uni Sch Dist CA Ctf Partn Rfdg, Ser A (FSA Insd)			5.375				09/01/20				1,801,031
	2,000			Chula Vista, CA Cmnty Fac Dist Spl Tax No 01-1 Impt Area San Miguel, Ser B			5.350				09/01/26				1,461,000
	2,000			Chula Vista, CA Indl Dev Rev San Diego Gas, Ser A			5.300				07/01/21				2,007,680
	1,540			Chula Vista, CA Redev Agy Tax Alloc Sub Bayfront Rfdg, Ser B			5.250				10/01/27				1,101,885
	1,605			Coachella, CA Fin Auth Tax Alloc Rev Redev Proj 4 Rfdg, Ser B (Syncora Gtd)			5.250				09/01/34				1,275,847
	1,000			Coachella, CA Redev Agy Tax Alloc Proj Area No 3 Rfdg			5.875				12/01/28				748,360
	2,000			Colton, CA Redev Agy Tax Alloc Mt Vernon Corridor Redev Proj			6.300				09/01/36				1,569,900
	1,600			Commerce, CA Jt Pwr Fin Auth Lease Rev Cmnty Ctr Proj (Syncora Gtd)			5.000				10/01/29				1,290,224

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	2,000			Commerce, CA Jt Pwr Fin Auth Lease Rev Cmnty Ctr Proj (Syncora Gtd)			5.000	%			10/01/34			$	1,529,960
	1,990			Daly City, CA Hsg Dev Fin Agy Mobile Home Pk Rev Third Tier Franciscan Rfdg, Ser C			6.500				12/15/47				1,325,619
	2,000			Desert Hot Springs, CA Redev Agy Tax Alloc Merged Redev Proj, Ser A-2			5.750				09/01/38				1,565,620
	1,220			Duarte, CA Multi-Family Rev Hsg Heritage Pk Apt, Ser A (FNMA Collateralized) (AMT)			5.850				05/01/30				1,192,330
	1,280			El Cerrito, CA Redev Agy Tax Alloc Redev Proj Area Rfdg, Ser B (MBIA Insd) (AMT)			5.250				07/01/15				1,310,029
	1,000			Emeryville, CA Pub Fin Auth Rev Shellmound Pk Redev & Hsg Proj, Ser B (MBIA Insd)			5.000				09/01/19				1,000,510
	1,000			Fairfield, CA Cmnty Fac Dist Spl Tax No 2007-1 Fairfield Commons			6.875				09/01/38				747,840
	2,000			Fairfield, CA Ctf Partn Fairfield Wtr, Ser A (MBIA-IBC Insd)			5.000				04/01/42				1,669,400
	5,155			Florin, CA Res Consv Dist Cap Impt Elk Grove Wtr Svc, Ser A (MBIA Insd)			5.000				09/01/33				4,147,558
	3,000			Folsom, CA Pub Fin Auth Spl Tax Rev, Ser A (AMBAC Insd)			5.000				09/01/28				2,549,520
	3,000			Folsom, CA Spl Tax Cmnty Fac Dist No 2 Rfdg (Connie Lee Insd)			5.250				12/01/19				3,007,890

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	1,000			Fontana, CA Redev Agy Tax Alloc Southwest Indl Park Proj (MBIA Insd)			5.000	%			09/01/22			$	981,310
	1,950			Fontana, CA Redev Agy Tax Alloc Southwest Indl Park Proj (MBIA Insd)			5.200				09/01/30				1,747,278
	5,000			Fontana, CA Uni Sch Dist Ctf Partn Fin Proj (FSA Insd)			4.500				09/01/35				4,240,150
	2,950			Foothill/Eastern Corridor Agy CA Toll Rd Rev (f)			*				01/01/27				1,319,653
	10,000			Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg			*				01/15/25				2,422,300
	15,000			Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg			*				01/15/26				3,271,200
	11,000			Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg			*				01/15/30				1,641,750
	5,000			Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg			*				01/15/31				667,350
	5,500			Foothill/Eastern Corridor Agy CA Toll Rd Rev Conv Cap Apprec Rfdg (c)			0/5.875				01/15/27				4,786,540
	1,000			Foothill/Eastern Corridor Agy CA Toll Rd Rev Rfdg			5.750				01/15/40				752,980
	2,015			Garden Grove, CA Agy Cmnty Dev Sub Nt (Acquired 5/27/08, Cost $1,755,166) (g)(i)			6.000				10/01/27				1,450,840
	2,500			Glendale, CA Uni Sch Dist, Ser C (FSA Insd)			5.500				09/01/19				2,572,400
	9,000			Golden St Tob Sec Corp CA Tob Settlement Rev Asset Bkd Sr, Ser A-1			5.750				06/01/47				5,436,450
	5,000			Hawthorne, CA Spl Tax Cmnty Fac Dist No 2006-1			5.000				09/01/36				3,005,250

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	3,000			Imperial Irr Dist CA Ctf Partn Elec Sys Proj (FSA Insd)			5.250	%			11/01/23			$	3,089,280
	250			Independent Cities, CA Lease Fin Auth Mobile Home Pk Rev Westlake Mobile Home Pk Rfdg, Ser A			4.500				10/15/37				152,198
	3,000			Indio, CA Redev Agy Tax Alloc Sub Merged Redev Proj Area, Ser A			5.625				08/15/35				2,612,250
	3,435			Irvine, CA Pub Fac & Infrastructure Auth Assmt Rev, Ser B (AMBAC Insd)			5.000				09/02/22				3,095,897
	1,410			Jurupa, CA Cmnty Svc Dist Spl Tax Cmnty Fac Dist No 21, Ser A			5.000				09/01/26				889,315
	1,000			Jurupa, CA Cmnty Svc Dist Spl Tax Cmnty Fac Dist No 24, Ser A			6.375				09/01/27				748,040
	1,325			Jurupa, CA Cmnty Svc Dist Spl Tax Cmnty Fac Dist No 24, Ser A			6.625				09/01/38				953,059
	1,000			La Quinta, CA Fin Auth Loc, Ser A (AMBAC Insd)			5.250				09/01/24				967,910
	1,420			La Quinta, CA Redev Agy Tax Alloc Redev Proj Area No 1 (AMBAC Insd)			5.000				09/01/22				1,393,460
	1,500			La Quinta, CA Redev Agy Tax Redev Proj Area No 1 (AMBAC Insd)			5.125				09/01/32				1,304,790
	1,000			Laguna Hills, CA Ctf Partn Cmnty Ctr Proj (MBIA Insd)			5.000				12/01/18				1,040,100
	1,000			Lathrop, CA Impt Bd Act 1915 Mossdale Vlg Assmt Dist 03-1			5.000				09/02/25				690,630

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	2,000			Lemon Grove, CA Cmnty Dev Agy Tax Alloc Redev Proj Area (AMBAC Insd)			4.500	%			08/01/37			$	1,403,060
	1,000			Loma Linda, CA Redev Agy Tax Loma Linda Redev Proj Rfdg (MBIA Insd)			5.125				07/01/30				943,500
	145			Long Beach, CA Bd Fin Auth Tax Alloc Rev North Long Beach Redev Proj, Ser A (AMBAC Insd)			5.375				08/01/21				144,478
	3,555			Long Beach, CA Hbr Rev, Ser A (MBIA Insd) (AMT)			5.250				05/15/18				3,565,132
	2,000			Long Beach, CA Spl Tax Long Beach Towne Ctr			5.750				10/01/25				1,570,120
	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				1,841,600
	2,215			Los Angeles, CA Cmnty Redev Agy Multi-Family Hsg Rev Grand Cent Square Rfdg, Ser B (AMBAC Insd) (AMT) (i)			4.750				12/01/26				1,931,702
	3,000			Los Angeles, CA Ctf Partn Sr Sonnenblick Del Rio W LA (AMBAC Insd)			6.000				11/01/19				3,197,910
	1,230			Los Angeles, CA Dept Arpt Rev Los Angeles Intl Arpt, Ser C			5.125				05/15/33				1,149,743
	1,000			Los Angeles, CA Dept Wtr & Pwr Wtrwks Rev Sys, Ser A (b)			5.375				07/01/38				1,007,220
	4,000			Los Angeles, CA Wtr & Pwr Rev Pwr Sys, Ser A-1			5.250				07/01/38				3,993,880

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	1,600			Los Angeles Cnty, CA Metro Trans Auth Sales Tax Rev Prop A First Tier Sr Rfdg, Ser C (AMBAC Insd)			5.000	%			07/01/23			$	1,620,320
	1,200			Los Angeles Cnty, CA Sch Regionalized Business Svc Ctf Partn Cap Apprec Pooled Fin, Ser A (AMBAC Insd)			*				08/01/26				412,152
	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				1,223,963
	1,190			Lynwood, CA Util Auth Enterp Rev (FSA Insd)			5.000				06/01/25				1,195,902
	700			Maywood, CA Cmnty Dev Commn Tax Alloc Merged Maywood Redev Proj Area (Radian Insd)			4.500				08/01/27				491,428
	2,000			Mendocino Cnty, CA Ctf Partn Cnty Pub Fac Corp (MBIA Insd)			5.250				06/01/30				1,715,500
	3,400			Metropolitan Wtr Dist Southn CA Auth, Ser B-2 (MBIA Insd)			5.000				10/01/26				3,453,482
	5,000			Metropolitan Wtr Dist Southn CA Wtrwks Rev Auth, Ser A			5.000				01/01/39				4,915,950
	2,000			Montclair, CA Redev Agy Mobile Home Pk Rev Hacienda Mobile Home Pk Proj			6.000				11/15/22				1,571,440
	2,325			Morongo Band of Mission Indians CA Enterprise Rev Indians Enterprise Casino, Ser B (d)			5.500				03/01/18				1,924,844
	2,175			Morongo Band Of Mission Indians
				CA Enterprise Rev Indians Enterprise Casino, Ser B (d)			6.500				03/01/28				1,655,088

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	3,180			Mount Diablo, CA Uni Sch Dist (FSA Insd) (a)			5.000	%			08/01/26			$	3,187,076
	1,730			National City, CA Cmnty Dev Commn Tax Alloc National City Redev Proj, Ser A (AMBAC Insd)			5.500				08/01/32				1,585,164
	2,000			Needles, CA Pub Util Auth Util Sys Acquisition Proj, Ser A			6.500				02/01/22				1,711,960
	1,500			Norco, CA Spl Tax Cmnty Fac Dist No 97-1 Rfdg (AGL Insd)			4.875				10/01/30				1,278,975
	925			Oceanside, CA Cmnty Fac No 2001-1 Morro Hills Dev			5.500				09/01/34				619,417
	1,000			Oxnard, CA Uni High Sch Dist Rfdg, Ser A (MBIA Insd)			6.200				08/01/30				1,016,470
	1,230			Palm Desert, CA Fin Auth Tax Alloc Rev Proj Area No 2 Rfdg, Ser A (MBIA Insd)			5.000				08/01/21				1,184,060
	250			Palm Springs, CA Arpt Sub Palm Springs Intl Arpt Rfdg (AMT)			5.450				07/01/20				202,508
	485			Palm Springs, CA Arpt Sub Palm Springs Intl Arpt Rfdg (AMT)			5.550				07/01/28				324,470
	250			Palm Springs, CA Arpt Sub Palm Springs Intl Arpt Rfdg (AMT)			6.000				07/01/18				211,240
	250			Palm Springs, CA Arpt Sub Palm Springs Intl Arpt Rfdg (AMT)			6.400				07/01/23				197,200
	550			Palm Springs, CA Arpt Sub Palm Springs Intl Arpt Rfdg (AMT)			6.500				07/01/27				417,351
	3,000			Palomar Pomerado Hlthcare Dist CA Ctf Partn, Ser B (FSA Insd) (e)(h)			2.490				11/01/36				3,000,000
	1,975			Palomar Pomerado Hlthcare Dist
				CA Ctf Partn, Ser C (FSA Insd) (e)(h)			1.000				11/01/36				1,975,000

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	2,000			Perris, CA Pub Fin Auth Loc Agy Rev Perris Vly Vistas IA 3, Ser B			6.625	%			09/01/38			$	1,494,120
	4,350			Perris, CA Pub Fin Auth Rev Tax Alloc			5.350				10/01/36				2,799,225
	1,000			Perris, CA Pub Fin Auth Rev Tax Alloc, Ser A (MBIA Insd)			5.000				10/01/31				862,480
	1,000			Pico Rivera, CA Wtr Auth Rev Wtr Sys Proj, Ser A (MBIA Insd)			5.500				05/01/19				1,147,490
	1,375			Pittsburg, CA Redev Agy Tax Alloc Los Medanos Cmnty Dev Proj (AMBAC Insd)			*				08/01/26				445,789
	2,500			Port Oakland, CA Rfdg, Ser N (MBIA Insd) (AMT)			5.000				11/01/22				2,202,875
	1,000			Poway, CA Redev Agy Tax Alloc Paguay Redev Proj, Ser A (MBIA Insd)			5.000				06/15/33				772,410
	2,000			Rancho Cordova Cmnty Fac Dist CA Spl Tax No 2003-1 Sunridge Anatolia			6.000				09/01/24				1,623,380
	1,000			Rancho Cucamonga, CA Redev Agy Tax Alloc Rancho Redev Proj (FSA Insd)			5.250				09/01/20				1,025,080
	1,220			Rancho Mirage, CA Redev Agy Tax Alloc Redev Plan 1984 Proj, Ser A-1 (MBIA Insd)			5.000				04/01/26				1,122,144
	2,540			Rancho Mirage, CA Redev Agy Tax Alloc Redev Plan 1984 Proj, Ser A-E (MBIA Insd)			5.250				04/01/33				2,280,488
	3,800			Redlands, CA Redev Agy Tax Alloc Redev Proj Rfdg, Ser A (MBIA Insd)			4.750				08/01/21				3,572,608

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	4,000			Redwood City, CA Sch Dist (MBIA Insd)			5.000	%			07/15/23			$	4,076,120
	3,000			Redwood City, CA Sch Dist (MBIA Insd)			5.000				07/15/27				2,932,740
	5,000			Riverside, CA Cmnty College Dist Election 2004, Ser C (MBIA Insd) (a)			5.000				08/01/32				4,852,150
	2,000			RNR Sch Fin Auth CA Spl Tax Cmnty Fac Dist No 92 1, Ser A (AMBAC Insd)			5.000				09/01/36				1,664,020
	9,630			Rohnert Park, CA Cmnty Dev Commons Tax Alloc Rev Hsg Redev Proj, Ser H (MBIA Insd)			4.375				08/01/37				6,927,148
	1,650			Roseville, CA Jt Uni High Sch Dist, Ser B (MBIA Insd)			*				06/01/20				981,404
	1,000			Roseville, CA Spl Tax Fountains Cmnty Fac Dist No 1			6.125				09/01/38				692,350
	265			Sacramento, CA City Fin Auth Rev Cap Impt (AMBAC Insd)			5.000				12/01/33				250,923
	900			Sacramento, CA City Fin Auth Rev Tax Alloc, Ser A (MBIA Insd)			5.000				12/01/34				717,813
	4,960			Sacramento, CA Mun Util Dist Elec, Ser U (FSA Insd) (a)			5.000				08/15/24				5,049,602
	10,000			Sacramento, CA Mun Util Dist Elec, Ser U (FSA Insd) (a)			5.000				08/15/26				9,991,700
	1,500			Sacramento Cnty, CA Spl Tax Cmnty Fac Dist No 05-2, Ser A			6.000				09/01/37				1,075,740
	1,000			Salinas Vly, CA Solid Waste Auth Rev (AMBAC Insd) (AMT)			5.250				08/01/27				868,510

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	2,000			Salinas Vly, CA Solid Waste Auth Rev (AMBAC Insd) (AMT)			5.250	%			08/01/31			$	1,669,440
	2,000			San Bernardino, CA Jt Pwr Fin Auth Ctf Partn (MBIA Insd)			5.500				09/01/20				2,072,500
	2,500			San Diego, CA Redev Agy Centre City Redev Proj, Ser A			6.400				09/01/25				2,051,750
	840			San Dimas, CA Redev Agy Tax Alloc Creative Growth, Ser A (FSA Insd)			5.000				09/01/16				858,858
	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				1,626,866
	2,000			San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Rfdg, Ser 27A (MBIA Insd) (AMT)			5.250				05/01/26				1,757,820
	3,000			San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Rfdg, Ser 27A (MBIA Insd) (AMT)			5.250				05/01/31				2,506,290
	2,000			San Francisco, CA City & Cnty Arpt Commn Intl Arpt Second Rfdg, Ser A-1 (AMT)			5.500				05/01/19				2,029,180
	2,000			Sanger, CA Uni Sch Dist Rfdg (MBIA Insd)			5.600				08/01/23				2,187,740
	1,000			Santa Ana, CA Uni Sch Dist Ctf Partn Cap Apprec Fin Proj (FSA Insd)			*				04/01/36				212,080
	10,000			Santa Clara Cnty, CA Fin Auth Lease Rev Rfdg Lease, Ser L (a)			5.250				05/15/36				9,697,650

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	1,500			Sierra View Loc Hlthcare Dist CA Rev			5.250	%			07/01/32			$	1,126,815
	3,305			South Orange Cnty, CA Pub Fin Auth Reassmt Rev (FSA Insd)			5.800				09/02/18				3,403,621
	1,640			South Tahoe, CA Jt Pwr Fin Auth Rev Tahoe Redev Proj Area 1-A Rfdg (FSA Insd)			5.000				10/01/29				1,558,787
	2,250			South Tahoe, CA Jt Pwr Fin Redev Proj Area No 1, Ser A (AMBAC Insd)			5.000				10/01/28				1,849,973
	1,285			Southern CA Logistics Arpt Auth, Ser A			6.000				12/01/38				1,042,893
	5,000			Southern CA Pub Pwr Auth Pwr Proj Rev Multi-Proj			6.750				07/01/12				5,800,900
	855			Stanton, CA Multi-Family Rev Hsg Contl Garden Apts (FNMA Collateralized) (AMT) (e)			5.625				08/01/29				861,156
	1,000			Stockton, CA Uni Sch Dist Ctf Partn Cap Proj (AMBAC Insd)			4.375				02/01/31				763,190
	1,000			Stockton, CA Uni Sch Dist Ctf Partn Cap Proj (AMBAC Insd)			4.500				02/01/36				747,000
	1,000			Temecula, CA Redev Agy Tax Alloc Rev Sub Lien Redev Proj No 1			5.500				12/15/38				655,360
	10,000			Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd Bd, Ser A-1			5.375				06/01/38				5,797,800
	10,800			Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd Bd, Ser A-1			5.500				06/01/45				6,186,672
	4,000			Tobacco Sec Auth Southn CA Tob Settlement Sr, Ser A-1			5.000				06/01/37				2,198,360

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Par
Amount
(000)				Description		Coupon				Maturity				Value
				California (continued)
$	13,000			Tobacco Sec Auth Southn CA Tob Settlement Sr, Ser A-1			5.125	%			06/01/46			$	6,948,890
	1,000			Turlock, CA Hlth Fac Rev Ctf Partn Emanuel Med Ctr, Ser A			5.125				10/15/31				608,870
	1,000			Turlock, CA Hlth Fac Rev Ctf Partn Emanuel Med Ctr, Ser B			5.125				10/15/37				577,300
	3,710			University of CA Rev UCLA Med Ctr, Ser A (AMBAC Insd)			5.250				05/15/30				3,686,182
	1,000			Vista, CA Ctf Partn Cmnty Proj (MBIA Insd)			5.000				05/01/37				829,320
	2,185			Vista, CA Uni Sch Dist Election 2002, Ser C (FSA Insd) (a)			5.000				08/01/28				2,184,705
	1,000			Vista, CA Uni Sch Dist, Ser A (FSA Insd)			5.000				08/01/23				1,019,280
	2,000			Woodland, CA Fin Auth Lease Rev Cap Proj Rfdg (Syncora Gtd)			5.000				03/01/25				1,871,740
															415,670,562
				Guam 0.1%
	365			Guam Govt, Ser A			5.250				11/15/37				237,680
				Puerto Rico 2.6%
	5,000			Puerto Rico Comwlth Hwy & Trans Auth Hwy Rev, Ser Y (FSA Insd) (b)			6.250				07/01/21				5,695,850
				U.S. Virgin Islands 1.4%
	3,000			Virgin Islands Pub Fin Auth Rev Gross Rcpt Taxes Ln Nt, Ser A			6.375				10/01/19				3,021,930
Total Long-Term Investments 195.0%
(Cost $508,336,414)															424,626,022

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

Description						Value
Total Short-Term Investments 3.6% (Cost $7,710,000)						$	7,710,000
Total Investments 198.6% (Cost $516,046,414)							432,336,022
Liability for Floating Rate Note Obligations Related to Securities Held (26.5%) (Cost ($57,605,000))
$	(57,605	)		Notes with interest rates ranging from 0.430% to 0.930% at January 31, 2009 and contractual maturities of collateral ranging from 2023 to 2042 (j)			(57,605,000	)
Total Net Investments 172.1% (Cost $458,441,414)							374,731,022
Other Assets in Excess of Liabilities 1.4%							3,053,975
Preferred Shares (including accrued distributions) (73.5%)							(160,052,727	)
Net Assets Applicable to Common Shares 100.0%						$	217,732,270

Percentages are calculated as a percentage of net assets applicable to common shares.

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

AGL — Assured Guaranty Ltd.
AMBAC — AMBAC Indemnity Corp.
AMT — Alternative Minimum Tax
CA MTG — California Mortgage Insurance
Connie Lee — Connie Lee Insurance Co.
FGIC — Financial Guaranty Insurance Co.
FHA — Federal Housing Administration
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
Syncora — Syncora Guarantee Inc.

The Trust adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157), effective November 1, 2008. In accordance with FAS 157, fair value is defined as the price that the Trust would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. FAS 157 establishes a three-tier hierarchy to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Trust’s investments. The inputs are summarized in the three broad levels listed below.

Level 1 —		quoted prices in active markets for identical investments

Level 2 —		other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 —		significant unobservable inputs (including the Trust’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used as of January 31, 2009 in valuing the Trust’s investments carried at value:

Van Kampen California Value Municipal Income Trust
Portfolio of Investments • January 31, 2009 (Unaudited) continued

		Investments in
Valuation Inputs		Securities
Level 1 — Quoted Prices		$	-0-
Level 2 — Other Significant Observable Inputs			432,336,022
Level 3 — Significant Unobservable Inputs			-0-
Total		$	432,336,022

Municipal bonds are valued by independent pricing services or dealers using the mean of the last reported bid and asked prices or, in the absence of market quotations, at fair value based upon yield data relating to municipal bonds with similar characteristics and general market conditions. Securities which are not valued by independent pricing services or dealers are valued at fair value using procedures established in good faith by the Board of Trustees. Factors considered in making this determination may include, but are not limited to, information obtained by contacting the issuer, analysts, or the appropriate stock exchange (for exchange-traded securities), analysis of the issuer’s financial statements or other available documents and, if necessary, available information concerning other securities in similar circumstances. Futures contracts are valued at the settlement price established each day on the exchange on which they are traded. Short-term securities with remaining maturities of 60 days or less are valued at amortized cost, which approximates market value.

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/ Edward C. Wood III
Name: Edward C. Wood III
Title: Principal Executive Officer
Date: March 19, 2009
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/ Edward C. Wood III
Name: Edward C. Wood III
Title: Principal Executive Officer
Date: March 19, 2009
By:		/s/ Stuart N. Schuldt
Name: Stuart N. Schuldt
Title: Principal Financial Officer
Date: March 19, 2009