# EDGAR Filing Document

**Accession Number:** 0001137391
**File Stem:** 0001410368-25-043409
**Filing Date:** 2025-12
**Character Count:** 83274
**Document Hash:** 0b9183df622a18e21a8d1ea57e2eb1fe
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043409.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043409

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST
- **CENTRAL INDEX KEY:** 0001137391

**ORGANIZATION NAME:**
- **EIN:** 510409109
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10331
- **FILM NUMBER:** 251606810

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **STREET 2:** MUTUAL FUND DEPARTMENT
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 888-825-2257

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **STREET 2:** MUTUAL FUND DEPARTMENT
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Nport-Ex

October 31, 2025

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**BlackRock California Municipal Income Trust (BFZ)**<br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

October 31, 2025

**BlackRock California Municipal Income Trust (BFZ)** 

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
| *Security* | *Par* <br>*(000)*<br>| *Value* |
| **Municipal Bonds** | **Municipal Bonds** | **Municipal Bonds** |
| **California — 115.3%** | **California — 115.3%** |  |
| **Corporate**<sup>(a)</sup> **— 18.1%** | **Corporate**<sup>(a)</sup> **— 18.1%** |  |
| California Community Choice Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.00%, 07/01/53 | $12000 | &nbsp;&nbsp; $12691171 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.00%, 12/01/53 | 6020 | &nbsp;&nbsp; 6416044 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 10/01/54 | 9935 | &nbsp;&nbsp; 10928231 |
| &nbsp;&nbsp;&nbsp; Class B, Sustainability Bonds, 5.00%, 03/01/56 | 3000 | &nbsp;&nbsp; 3292945 |
| &nbsp;&nbsp;&nbsp; Series A, Sustainability Bonds, 5.00%, 01/01/56 | 2000 | &nbsp;&nbsp; 2144321 |
| &nbsp;&nbsp;&nbsp; Series A-1, Sustainability Bonds, 4.00%, 05/01/53 | 15000 | &nbsp;&nbsp; 15336166 |
| &nbsp;&nbsp;&nbsp; Series E-1, Sustainability Bonds, 5.00%, 02/01/54 | 3000 | &nbsp;&nbsp; 3238808 |
| Central Valley Energy Authority, RB, 5.00%, 12/01/55 | 10845 | &nbsp;&nbsp; 11995841 |
|  |  | &nbsp;&nbsp; 66043527 |
| **County/City/Special District/School District — 33.7%** | **County/City/Special District/School District — 33.7%** |  |
| &nbsp;&nbsp;&nbsp; California Municipal Finance Authority, ST, Series A, <br> 5.13%, 09/01/59<br>| 305 | &nbsp;&nbsp; 310935 |
| &nbsp;&nbsp;&nbsp; California Pollution Control Financing Authority, <br> Refunding RB, 5.00%, 11/21/45<sup>(b)</sup><br>| 2500 | &nbsp;&nbsp; 2532155 |
| &nbsp;&nbsp;&nbsp; California Statewide Communities Development <br> Authority, SAB, Series B, 5.00%, 09/02/52<br>| 565 | &nbsp;&nbsp; 570800 |
| &nbsp;&nbsp;&nbsp; Chabot-Las Positas Community College District, GO, <br> Series C, Election 2016, 5.25%, 08/01/48<br>| 6925 | &nbsp;&nbsp; 7429835 |
| &nbsp;&nbsp;&nbsp; Chino Valley Unified School District, GO, Series B, <br> 4.00%, 08/01/45<br>| 5000 | &nbsp;&nbsp; 4923014 |
| &nbsp;&nbsp;&nbsp; City & County of San Francisco California, Refunding <br> COP, Class A, Sustainability Bonds, 4.00%, <br> 04/01/40<br>| 6635 | &nbsp;&nbsp; 6653534 |
| &nbsp;&nbsp;&nbsp; Cupertino Union School District, GO, Series C, Election <br> 2012, 4.00%, 08/01/40<br>| 4000 | &nbsp;&nbsp; 4002923 |
| &nbsp;&nbsp;&nbsp; Dublin Unified School District, GO, Series B, Election <br> 2020, 4.00%, 08/01/45<br>| 6625 | &nbsp;&nbsp; 6540643 |
| &nbsp;&nbsp;&nbsp; Folsom Cordova Unified School District School <br> Facilities Improvement Dist No. 5, GO, Series B, <br> Election 2014, 4.25%, 10/01/41<br>| 6000 | &nbsp;&nbsp; 6010515 |
| &nbsp;&nbsp;&nbsp; Fremont Union High School District, GO, Election 2022, <br> 4.00%, 08/01/48<br>| 3685 | &nbsp;&nbsp; 3662076 |
| &nbsp;&nbsp;&nbsp; Grossmont Union High School District, GO, Series I-2, <br> 4.00%, 08/01/44<br>| 5115 | &nbsp;&nbsp; 5028634 |
| &nbsp;&nbsp;&nbsp; Mount San Jacinto Community College District, GO, <br> Series B, Election 2014, 4.00%, 08/01/43<br>| 2000 | &nbsp;&nbsp; 1996395 |
| Mt San Antonio Community College District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series D, Election 2018, 4.00%, 08/01/49 | 3500 | &nbsp;&nbsp; 3352477 |
| &nbsp;&nbsp;&nbsp; Series A, Election 2024, 5.00%, 08/01/50 | 3600 | &nbsp;&nbsp; 3849549 |
| &nbsp;&nbsp;&nbsp; Mt San Antonio Community College District, Refunding <br> GO, Series 2018-A, Election 2018, 4.00%, 08/01/49<br>| 2500 | &nbsp;&nbsp; 2394626 |
| &nbsp;&nbsp;&nbsp; Napa Valley Unified School District, GO, Series A, <br> Election 2016, 4.00%, 08/01/38<br>| 2925 | &nbsp;&nbsp; 2935646 |
| &nbsp;&nbsp;&nbsp; Pajaro Valley Unified School District, GO, Series A, <br> Election 2024, 08/01/49<sup>(c)</sup><br>| 1000 | &nbsp;&nbsp; 1065479 |
| &nbsp;&nbsp;&nbsp; Sacramento Area Flood Control Agency, Refunding <br> SAB, 5.00%, 10/01/47<br>| 4000 | &nbsp;&nbsp; 3985388 |
| &nbsp;&nbsp;&nbsp; Sacramento City Unified School District, GO, Series C, <br> Election 2020, (AGM), 08/01/50<sup>(c)</sup><br>| 2000 | &nbsp;&nbsp; 2111324 |
| &nbsp;&nbsp;&nbsp; Salinas Union High School District, GO, Series A, <br> Election 2024, 5.00%, 08/01/50<br>| 1500 | &nbsp;&nbsp; 1606466 |
| San Diego Unified School District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series L, 4.00%, 07/01/44 | 4035 | &nbsp;&nbsp; 4008639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series O-2, Election 2008, Sustainability Bonds, <br> 5.00%, 07/01/49<br>| 2375 | &nbsp;&nbsp; 2537557 |
| &nbsp;&nbsp;&nbsp; Series C-3, Election 2022, 5.00%, 07/01/50 | 2790 | &nbsp;&nbsp; 2984369 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **County/City/Special District/School District (continued)** | **County/City/Special District/School District (continued)** |  |
| San Diego Unified School District, GO (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Series A-3, Sustainability Bonds, 5.00%, 07/01/48 | 3000 | &nbsp;&nbsp; $3194265 |
| &nbsp;&nbsp;&nbsp; San Francisco Bay Area Rapid Transit District, GO, <br> Series A, Election 2016, Sustainability Bonds, 5.00%, <br> 08/01/47<br>| 2290 | &nbsp;&nbsp; 2332787 |
| &nbsp;&nbsp;&nbsp; San Jose Evergreen Community College District, GO, <br> Series C, Election 2016, 4.00%, 09/01/45<br>| 3740 | &nbsp;&nbsp; 3740719 |
| &nbsp;&nbsp;&nbsp; San Mateo Joint Powers Financing Authority, RB, <br> Series A, 5.00%, 07/15/43<br>| 1965 | &nbsp;&nbsp; 2036414 |
| &nbsp;&nbsp;&nbsp; Santa Clara County Financing Authority, RB, Series A, <br> 4.00%, 05/01/45<br>| 3575 | &nbsp;&nbsp; 3492440 |
| &nbsp;&nbsp;&nbsp; Santa Clara Unified School District, GO, Election 2014, <br> 4.00%, 07/01/41<br>| 5000 | &nbsp;&nbsp; 5009961 |
| Tamalpais Union High School District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A, Election 2024, 4.00%, 08/01/47 | 4670 | &nbsp;&nbsp; 4641332 |
| &nbsp;&nbsp;&nbsp; Series A, Election 2024, 4.13%, 08/01/49 | 2500 | &nbsp;&nbsp; 2507483 |
| &nbsp;&nbsp;&nbsp; Series A, Election 2024, 4.13%, 08/01/50 | 6605 | &nbsp;&nbsp; 6608517 |
| West Valley-Mission Community College District, GO |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 4.00%, 08/01/44 | 4000 | &nbsp;&nbsp; 4021218 |
| &nbsp;&nbsp;&nbsp; Series B, Election 2012, 4.00%, 08/01/40 | 4775 | &nbsp;&nbsp; 4775737 |
|  |  | &nbsp;&nbsp; 122853852 |
| **Education — 7.0%** | **Education — 7.0%** |  |
| &nbsp;&nbsp;&nbsp; California Enterprise Development Authority, RB, <br> 8.00%, 11/15/62<sup>(b)</sup><br>| 540 | &nbsp;&nbsp; 535811 |
| &nbsp;&nbsp;&nbsp; California Municipal Finance Authority, Refunding <br> RB<sup>(b)(d)(e)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/39 | 325 | &nbsp;&nbsp; 275275 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/48 | 510 | &nbsp;&nbsp; 384002 |
| &nbsp;&nbsp;&nbsp; California School Finance Authority, RB, Series A, <br> 5.00%, 06/01/58<sup>(b)</sup><br>| 2120 | &nbsp;&nbsp; 1888225 |
| California School Finance Authority, Refunding RB<sup>(b)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 08/01/43 | 130 | &nbsp;&nbsp; 132213 |
| &nbsp;&nbsp;&nbsp; Sustainability Bonds, 5.50%, 08/01/47 | 125 | &nbsp;&nbsp; 125677 |
| &nbsp;&nbsp;&nbsp; California State University, RB, Series A, 5.25%, <br> 11/01/48<br>| 2805 | &nbsp;&nbsp; 3035086 |
| &nbsp;&nbsp;&nbsp; California State University, Refunding RB, Series A, <br> 5.25%, 11/01/50<br>| 9590 | &nbsp;&nbsp; 10439310 |
| &nbsp;&nbsp;&nbsp; University of California, RB, Series AV, 5.00%, <br> 05/15/47<br>| 8440 | &nbsp;&nbsp; 8589568 |
|  |  | &nbsp;&nbsp; 25405167 |
| **Health — 9.6%** | **Health — 9.6%** |  |
| California Health Facilities Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 11/15/48 | 6190 | &nbsp;&nbsp; 6261837 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 11/01/49 | 2095 | &nbsp;&nbsp; 2216565 |
| &nbsp;&nbsp;&nbsp; California Health Facilities Financing Authority, <br> Refunding RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 11/15/48 | 9550 | &nbsp;&nbsp; 9657128 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 08/15/51 | 5000 | &nbsp;&nbsp; 5281290 |
| &nbsp;&nbsp;&nbsp; Series A-2, Class B, (BAM-TCRS), 4.00%, 11/01/44 | 9750 | &nbsp;&nbsp; 9303538 |
| &nbsp;&nbsp;&nbsp; California Public Finance Authority, RB, Series A, <br> 6.38%, 06/01/59<sup>(b)</sup><br>| 2225 | &nbsp;&nbsp; 2091544 |
|  |  | &nbsp;&nbsp; 34811902 |
| **Housing — 0.4%** | **Housing — 0.4%** |  |
| &nbsp;&nbsp;&nbsp; California Housing Finance Agency, RB, M/F Housing, <br> Series A, 4.25%, 01/15/35<br>| 1 | &nbsp;&nbsp; 681 |
| &nbsp;&nbsp;&nbsp; CSCDA Community Improvement Authority, RB, M/F <br> Housing, Mezzanine Lien, 4.00%, 05/01/57<sup>(b)</sup><br>| 1840 | &nbsp;&nbsp; 1295839 |
|  |  | &nbsp;&nbsp; 1296520 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock California Municipal Income Trust (BFZ)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **State — 0.9%** | **State — 0.9%** |  |
| &nbsp;&nbsp;&nbsp; California State Public Works Board, RB, Series C, <br> 11/01/50<sup>(c)</sup><br>| $3000 | &nbsp;&nbsp; $3202990 |
| **Tobacco — 7.6%** | **Tobacco — 7.6%** |  |
| &nbsp;&nbsp;&nbsp; California County Tobacco Securitization Agency, <br> Refunding RB, CAB<sup>(f)</sup> <br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 06/01/55 | 2425 | &nbsp;&nbsp; 478907 |
| &nbsp;&nbsp;&nbsp; Series B-2, Subordinate, 0.00%, 06/01/55 | 1755 | &nbsp;&nbsp; 332909 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Refunding <br> RB, Series B, 5.00%, 06/01/51<br>| 18770 | &nbsp;&nbsp; 18629155 |
| &nbsp;&nbsp;&nbsp; Golden State Tobacco Securitization Corp., Refunding <br> RB, CAB, Series B-2, Subordinate, 0.00%, <br> 06/01/66<sup>(f)</sup><br>| 12875 | &nbsp;&nbsp; 1363612 |
| &nbsp;&nbsp;&nbsp; Tobacco Securitization Authority of Southern California, <br> Refunding RB, 5.00%, 06/01/48<br>| 7030 | &nbsp;&nbsp; 7042037 |
|  |  | &nbsp;&nbsp; 27846620 |
| **Transportation — 25.5%** | **Transportation — 25.5%** |  |
| &nbsp;&nbsp;&nbsp; California Infrastructure & Economic Development <br> Bank, Refunding RB, Series A, Class B, AMT, <br> Sustainability Bonds, 9.50%, 01/01/65<sup>(a)(b)</sup><br>| 14335 | &nbsp;&nbsp; 11468000 |
| &nbsp;&nbsp;&nbsp; City of Long Beach California Harbor Revenue, ARB, <br> Series A, AMT, 5.00%, 05/15/40<br>| 5000 | &nbsp;&nbsp; 5097995 |
| &nbsp;&nbsp;&nbsp; City of Long Beach California Harbor Revenue, <br> Refunding ARB, Series C, 5.00%, 05/15/47<br>| 1480 | &nbsp;&nbsp; 1505520 |
| City of Los Angeles Department of Airports, ARB |  |  |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 05/15/36 | 1090 | &nbsp;&nbsp; 1097789 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 05/15/41 | 6000 | &nbsp;&nbsp; 6024215 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 05/15/46 | 7860 | &nbsp;&nbsp; 7876513 |
| &nbsp;&nbsp;&nbsp; Series C, AMT, Subordinate, 5.00%, 05/15/44 | 4130 | &nbsp;&nbsp; 4171635 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.00%, 05/15/47 | 1365 | &nbsp;&nbsp; 1402986 |
| &nbsp;&nbsp;&nbsp; AMT, Sustainability Bonds, 5.25%, 05/15/47 | 3900 | &nbsp;&nbsp; 4080578 |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, Refunding <br> ARB<br>|  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.50%, 05/15/40 | 3490 | &nbsp;&nbsp; 3819396 |
| &nbsp;&nbsp;&nbsp; AMT, 5.50%, 05/15/47 | 4250 | &nbsp;&nbsp; 4502602 |
| &nbsp;&nbsp;&nbsp; AMT, 5.00%, 05/15/48 | 1500 | &nbsp;&nbsp; 1519623 |
| &nbsp;&nbsp;&nbsp; Series S, AMT, 5.00%, 05/15/40 | 4450 | &nbsp;&nbsp; 4705564 |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, Refunding <br> RB, Class D, Subordinate, 5.00%, 05/15/48<br>| 5000 | &nbsp;&nbsp; 5350400 |
| &nbsp;&nbsp;&nbsp; County of Sacramento California Airport System <br> Revenue, Refunding RB, Series C, AMT, 5.00%, <br> 07/01/39<br>| 1000 | &nbsp;&nbsp; 1027920 |
| &nbsp;&nbsp;&nbsp; Norman Y Mineta San Jose International Airport SJC, <br> Refunding RB, Series A, AMT, 5.00%, 03/01/37<br>| 1280 | &nbsp;&nbsp; 1298413 |
| San Diego County Regional Airport Authority, ARB |  |  |
| &nbsp;&nbsp;&nbsp; AMT, 5.25%, 07/01/50 | 4300 | &nbsp;&nbsp; 4566450 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 07/01/47 | 3000 | &nbsp;&nbsp; 3006507 |
| &nbsp;&nbsp;&nbsp; Series B, AMT, 5.00%, 07/01/48 | 6890 | &nbsp;&nbsp; 7135990 |
| &nbsp;&nbsp;&nbsp; San Francisco City & County Airport Comm-San <br> Francisco International Airport, Refunding ARB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.25%, 05/01/43 | 2950 | &nbsp;&nbsp; 3152226 |
| &nbsp;&nbsp;&nbsp; Series A, AMT, 5.00%, 05/01/49 | 4000 | &nbsp;&nbsp; 4047334 |
| &nbsp;&nbsp;&nbsp; Series D, AMT, 5.00%, 05/01/43 | 6130 | &nbsp;&nbsp; 6211802 |
|  |  | &nbsp;&nbsp; 93069458 |
| **Utilities — 12.5%** | **Utilities — 12.5%** |  |
| &nbsp;&nbsp;&nbsp; Coachella Valley Water District Stormwater System <br> Revenue, COP, Series A, 5.00%, 08/01/47<br>| 1250 | &nbsp;&nbsp; 1313119 |
| &nbsp;&nbsp;&nbsp; Contra Costa Water District, Refunding RB, Series V, <br> 5.00%, 10/01/44<br>| 2310 | &nbsp;&nbsp; 2424320 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **Utilities (continued)** | **Utilities (continued)** |  |
| &nbsp;&nbsp;&nbsp; East Bay Municipal Utility District Water System <br> Revenue, RB, Series A, Sustainability Bonds, 4.00%, <br> 06/01/45<br>| 1730 | &nbsp;&nbsp; $1731137 |
| Sacramento Municipal Utility District, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series H, Sustainability Bonds, 4.00%, 08/15/45 | 23000 | &nbsp;&nbsp; 22645430 |
| &nbsp;&nbsp;&nbsp; Series M, Sustainability Bonds, 5.00%, 11/15/45 | 1000 | &nbsp;&nbsp; 1083388 |
| &nbsp;&nbsp;&nbsp; San Francisco City & County Public Utilities <br> Commission Wastewater Revenue, Refunding RB, <br> Series C, Sustainability Bonds, 5.00%, 10/01/49<br>| 1975 | &nbsp;&nbsp; 2111939 |
| &nbsp;&nbsp;&nbsp; San Jose Financing Authority, Refunding RB, Series B, <br> Sustainability Bonds, 5.00%, 11/01/47<br>| 1710 | &nbsp;&nbsp; 1826074 |
| &nbsp;&nbsp;&nbsp; San Mateo Foster City Public Financing Authority, RB, <br> 4.00%, 08/01/44<br>| 10485 | &nbsp;&nbsp; 10429868 |
| &nbsp;&nbsp;&nbsp; Santa Ana Public Financing Authority, Refunding RB, <br> 5.00%, 09/01/49<br>| 1685 | &nbsp;&nbsp; 1802178 |
|  |  | &nbsp;&nbsp; 45367453 |
| **Total Municipal Bonds in California** | **Total Municipal Bonds in California** | &nbsp;&nbsp; 419897489 |
| **New Hampshire — 1.4%** | **New Hampshire — 1.4%** |  |
| **Housing — 1.4%** | **Housing — 1.4%** |  |
| &nbsp;&nbsp;&nbsp; New Hampshire Business Finance Authority, RB, M/F <br> Housing, Series 2, Sustainability Bonds, 3.81%, <br> 07/20/39<sup>(a)</sup><br>| 5296 | &nbsp;&nbsp; 5217212 |
| **Puerto Rico — 4.0%** | **Puerto Rico — 4.0%** |  |
| **State — 4.0%** | **State — 4.0%** |  |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB<br>|  |  |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 4.75%, 07/01/53 | 1719 | &nbsp;&nbsp; 1625318 |
| &nbsp;&nbsp;&nbsp; Series A-1, Restructured, 5.00%, 07/01/58 | 9405 | &nbsp;&nbsp; 9134519 |
| &nbsp;&nbsp;&nbsp; Series A-2, Restructured, 4.78%, 07/01/58 | 2530 | &nbsp;&nbsp; 2379203 |
| &nbsp;&nbsp;&nbsp; Puerto Rico Sales Tax Financing Corp. Sales Tax <br> Revenue, RB, CAB, Series A-1, Restructured, <br> 0.00%, 07/01/46<sup>(f)</sup><br>| 4520 | &nbsp;&nbsp; 1573107 |
| **Total Municipal Bonds in Puerto Rico** | **Total Municipal Bonds in Puerto Rico** | &nbsp;&nbsp; 14712147 |
| **Total Municipal Bonds — 120.7%** <br>**(Cost: $434,667,027)** | **Total Municipal Bonds — 120.7%** <br>**(Cost: $434,667,027)** | &nbsp;&nbsp; 439826848 |
| **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(g)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(g)</sup> | **Municipal Bonds Transferred to Tender Option Bond Trusts**<sup>(g)</sup> |
| **California — 44.2%** | **California — 44.2%** | **California — 44.2%** |
| **County/City/Special District/School District — 9.0%** | **County/City/Special District/School District — 9.0%** |  |
| &nbsp;&nbsp;&nbsp; Clovis Unified School District, GO, Election 2020, <br> Series B, 5.00%, 08/01/47<br>| 10000 | &nbsp;&nbsp; 10404251 |
| &nbsp;&nbsp;&nbsp; Los Angeles County Metropolitan Transportation <br> Authority Sales Tax Revenue, Refunding RB, <br> Sustainability Bonds, Series A, 5.00%, 07/01/44<br>| 11200 | &nbsp;&nbsp; 11645827 |
| &nbsp;&nbsp;&nbsp; Los Angeles Unified School District, GO, Sustainability <br> Bonds, Series QRR, 5.25%, 07/01/47<br>| 10000 | &nbsp;&nbsp; 10759303 |
|  |  | &nbsp;&nbsp; 32809381 |
| **Education — 8.8%** | **Education — 8.8%** |  |
| California State University, Refunding RB |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, 11/01/48 | 10070 | &nbsp;&nbsp; 10334607 |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, 11/01/50<sup>(h)</sup> | 20000 | &nbsp;&nbsp; 21771240 |
|  |  | &nbsp;&nbsp; 32105847 |
| **Health — 7.4%** | **Health — 7.4%** |  |
| &nbsp;&nbsp;&nbsp; Regents of the University of California Medical Center <br> Pooled Revenue, RB, Series P, 5.00%, 05/15/47<br>| 25625 | &nbsp;&nbsp; 26860242 |

---

Schedule of Investments

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock California Municipal Income Trust (BFZ)** 

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | *Par*<br> *(000)*<br>| *Value* |
| **State — 2.6%** | **State — 2.6%** |  |
| State of California, Refunding GO, 5.00%, 03/01/49 | $8750 | &nbsp;&nbsp; $9410180 |
| **Transportation — 13.1%** | **Transportation — 13.1%** |  |
| &nbsp;&nbsp;&nbsp; City of Los Angeles Department of Airports, Refunding <br> ARB, AMT, Sustainability Bonds, Series A, 5.25%, <br> 05/15/50<br>| 19365 | &nbsp;&nbsp; 20445203 |
| &nbsp;&nbsp;&nbsp; San Francisco City & County Airport Comm-San <br> Francisco International Airport, Refunding ARB, AMT, <br> Series A, 5.00%, 05/01/47<sup>(h)</sup><br>| 16735 | &nbsp;&nbsp; 16802190 |
| &nbsp;&nbsp;&nbsp; San Francisco City & County Airport Comm-San <br> Francisco International Airport, Refunding RB, AMT, <br> Series C, 5.75%, 05/01/48<sup>(h)</sup><br>| 9600 | &nbsp;&nbsp; 10328346 |
|  |  | &nbsp;&nbsp; 47575739 |
| **Utilities — 3.3%** | **Utilities — 3.3%** |  |
| &nbsp;&nbsp;&nbsp; San Francisco City & County Public Utilities <br> Commission Wastewater Revenue, Refunding RB, <br> Sustainability Bonds, Series A, 4.00%, 10/01/49<br>| 12790 | &nbsp;&nbsp; 12230546 |
| **Total Municipal Bonds in California** | **Total Municipal Bonds in California** | &nbsp;&nbsp; 160991935 |
| **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 44.2%** <br>**(Cost: $159,602,957)** | **Total Municipal Bonds Transferred to Tender Option Bond** <br>**Trusts — 44.2%** <br>**(Cost: $159,602,957)** | &nbsp;&nbsp; 160991935 |
| **Total Long-Term Investments — 164.9%** <br>**(Cost: $594,269,984)** | **Total Long-Term Investments — 164.9%** <br>**(Cost: $594,269,984)** | &nbsp;&nbsp; 600818783 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | <br>*Shares*<br>|  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.8%** | **Money Market Funds — 2.8%** |  |
| &nbsp;&nbsp;&nbsp; BlackRock Liquidity Funds, MuniCash, Institutional <br> Shares, 3.01%<sup>(i)(j)</sup><br>| 10237659 | &nbsp;&nbsp; 10238682 |
| **Total Short-Term Securities — 2.8%** <br>**(Cost: $10,238,682)** | **Total Short-Term Securities — 2.8%** <br>**(Cost: $10,238,682)** | &nbsp;&nbsp; 10238682 |
| **Total Investments — 167.7%** <br>**(Cost: $604,508,666)** | **Total Investments — 167.7%** <br>**(Cost: $604,508,666)** | &nbsp;&nbsp; 611057465 |
| **Other Assets Less Liabilities — 1.5%** | **Other Assets Less Liabilities — 1.5%** | &nbsp;&nbsp; 5157131 |
| **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (22.2)%** | **Liability for TOB Trust Certificates, Including Interest Expense and** <br> **Fees Payable — (22.2)%** | &nbsp;&nbsp; (80790288)<br>|
| **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(47.0)%** | **VRDP Shares at Liquidation Value, Net of Deferred Offering Costs —** <br> **(47.0)%** | &nbsp;&nbsp; (171092733)<br>|
| **Net Assets Applicable to Common Shares — 100.0%** | **Net Assets Applicable to Common Shares — 100.0%** | &nbsp;&nbsp; $364331575 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(b)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

<sup>(c)</sup> When-issued security.

<sup>(d)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(e)</sup> Non-income producing security.

<sup>(f)</sup> Zero-coupon bond.

<sup>(g)</sup> Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing. 

<sup>(h)</sup> All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire between November 1, 2026 to May 1, 2033, is $24,423,240. 

<sup>(i)</sup> Affiliate of the Trust.

<sup>(j)</sup> Annualized 7-day yield as of period end.

For purposes of this report, industry and sector sub-classifications may differ from those utilized by the Trust for compliance purposes.

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Trust during the period ended October 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/25*<br>| *Shares* <br>*Held at* <br>*10/31/25*<br>| *Income* | *Capital Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| BlackRock Liquidity Funds, MuniCash, Institutional Shares | $7622997<br> $2615685 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | $— | $— | $10238682 | 10237659 | $26179 | $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**BlackRock California Municipal Income Trust (BFZ)** 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – Unadjusted price quotations in active markets/exchanges that the Trust has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust's financial instruments categorized in the fair value hierarchy. The breakdown of the Trust's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $439826848 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $439826848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds Transferred to Tender Option Bond Trusts | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 160991935 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 160991935 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 10238682 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 10238682 |
|  | &nbsp;&nbsp; $10238682 | &nbsp;&nbsp;&nbsp;&nbsp; $600818783 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $611057465 |

---

The Trust may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; TOB Trust Certificates | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(80299992)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(80299992)<br>|
| &nbsp;&nbsp;&nbsp; VRDP Shares at Liquidation Value | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (171300000)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (171300000)<br>|
|  | &nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(251599992)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $(251599992)<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| AGM | Assured Guaranty Municipal Corp. |
| AMT | Alternative Minimum Tax |
| ARB | Airport Revenue Bonds  |
| BAM-TCRS | &nbsp;&nbsp;&nbsp; Build America Mutual Assurance Co. - Transferable <br> Custodial Receipts<br>|
| CAB | Capital Appreciation Bonds |
| COP | Certificates of Participation |
| GO | General Obligation Bonds |
| M/F | Multi-Family |
| MT | Mandatory Tender |
| RB | Revenue Bonds |
| SAB | Special Assessment Bonds |
| SAN | State Aid Notes  |

---

---

| | |
|:---|:---|
| **Portfolio Abbreviation (continued)** | **Portfolio Abbreviation (continued)** |
| ST | Special Tax |

---

Schedule of Investments

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** BlackRock California Municipal Income Trust

- **b. Investment Company Act file number:** 811-10331

- **c. CIK number of Registrant:** 0001137391

- **d. LEI of Registrant:** LE6236HQD6DXEGUHE217

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Bellevue Parkway

  - **City:** Wilmington

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

**Item A.2. Information about the Series.**

- **a. Name of Series:** BlackRock California Municipal Income Trust

- **c. LEI of Series:** LE6236HQD6DXEGUHE217

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $623426601.25

**Total Liabilities:** $259014787.85

**Net Assets:** $364411813.40

**Delayed Delivery Securities:** $4916665.20

**Cash Not Reported:** $998124.31

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 89742.60000000 | **1-Year:** 57990.77000000 | **5-Year:** 86358.08000000 | **10-Year:** 100287.44000000 | **30-Year:** 80012.32000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 32251.66000000 | **1-Year:** 0.00000000 | **5-Year:** 831.28000000 | **10-Year:** 8858.75000000 | **30-Year:** 23747.86000000

**Monthly Return Information**

| Class        | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID N/A | 1.63%                | 5.53%                | 1.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-457149.53              | $4528905.75                                |
| Month 2  | $-26202.60               | $17675072.20                               |
| Month 3  | $134692.21               | $2602605.16                                |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### Schedule of Portfolio Investments

| Name                                                                           | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CSCDA Community Improvement Authority                                          | CSCDA CMNTY IMPT AUTH CA ESSENTIAL HSG REVENUE               | CUSIP: 126292BN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1295838.77   | 0.36%             | 2057-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15336166.50  | 4.21%             | 2053-05-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JBL9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   6020000 | PA      | $6416043.76   | 1.76%             | 2053-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JCB0<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  12000000 | PA      | $12691171.20  | 3.48%             | 2053-07-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JDB9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3238807.80   | 0.89%             | 2054-02-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JDD5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   9935000 | PA      | $10928230.76  | 3.00%             | 2054-10-01      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JFX9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2144321.00   | 0.59%             | 2056-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JGF7<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3292945.20   | 0.90%             | 2056-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE | CUSIP: 13016NFC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $332908.76    | 0.09%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency                                | CALIFORNIA CNTY CA TOBACCO SECURITIZATION AGY TOBACCO SETTLE | CUSIP: 13016NHB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2425000 | PA      | $478906.95    | 0.13%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                               | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UB49<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5281290.00   | 1.45%             | 2051-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                               | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UNY0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   9550000 | PA      | $9657128.08   | 2.65%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                               | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UP77<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2216564.89   | 0.61%             | 2049-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                               | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032URP5<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   6190000 | PA      | $6261837.43   | 1.72%             | 2048-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                               | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UZ50<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   9750000 | PA      | $9303537.75   | 2.55%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency                                              | CALIFORNIA HSG FIN AGY MUNI CTFS                             | CUSIP: 13033DAA3<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |       657 | PA      | $680.78       | 0.00%             | 2035-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                          | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034A6B1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |  14335000 | PA      | $11468000.00  | 3.15%             | 2065-01-01      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                         | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048VJE9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    325000 | PA      | $275274.90    | 0.08%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                         | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048VJF6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    510000 | PA      | $384001.90    | 0.11%             | 2048-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                         | CALIFORNIA ST MUNI FIN AUTH SPL TAX REVENUE                  | CUSIP: 13051AHS0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    305000 | PA      | $310934.90    | 0.09%             | 2059-09-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                               | CALIFORNIA ST POLL CONTROL FING AUTH WTR FURNISHING REVENUE  | CUSIP: 13054WAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2532154.75   | 0.69%             | 2045-11-21      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority                                            | CALIFORNIA PUBLIC FIN AUTH SENIOR LIVING REVENUE             | CUSIP: 13057GAQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2225000 | PA      | $2091544.06   | 0.57%             | 2059-06-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                            | CALIFORNIA ST SCH FIN AUTH CHRT SCH REVENUE                  | CUSIP: 13058THG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2120000 | PA      | $1888225.28   | 0.52%             | 2058-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                            | CALIFORNIA ST SCH FIN AUTH CHRT SCH REVENUE                  | CUSIP: 13058TSF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    130000 | PA      | $132213.12    | 0.04%             | 2043-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority                                            | CALIFORNIA ST SCH FIN AUTH CHRT SCH REVENUE                  | CUSIP: 13058TSG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $125677.43    | 0.03%             | 2047-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority                                    | CALIFORNIA ST ENTERPRISE DEV AUTH REVENUE                    | CUSIP: 13067RCZ4<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |    540000 | PA      | $535811.22    | 0.15%             | 2062-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                            | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068XRR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1601494.80   | 0.44%             | 2050-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                                    | CALIFORNIA ST UNIV REVENUE                                   | CUSIP: 13077DSX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2805000 | PA      | $3035086.30   | 0.83%             | 2048-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California State University                                                    | CALIFORNIA ST UNIV REVENUE                                   | CUSIP: 13077DWF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9590000 | PA      | $10439309.58  | 2.86%             | 2050-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                         | CALIFORNIA ST STWD CMNTYS DEV AUTH STWD REVENUE              | CUSIP: 13078YUD5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    565000 | PA      | $570799.95    | 0.16%             | 2052-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Valley Energy Authority                                                | CENTRL VLY CA ENERGY AUTH COMMODITY SPLY REVENUE             | CUSIP: 15569DAA0<br>LEI: 254900G5IPQ9MA3FRJ55 | Long             | DBT              | MUN               | US        |  10845000 | PA      | $11995841.03  | 3.29%             | 2055-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chabot-Las Positas Community College District                                  | CHABOT-LAS POSITAS CA CMNTY CLG DIST                         | CUSIP: 15722TKU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6925000 | PA      | $7429835.27   | 2.04%             | 2048-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chino Valley Unified School District                                           | CHINO VLY CA UNIF SCH DIST                                   | CUSIP: 169583GZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4923013.50   | 1.35%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Coachella Valley Water District Stormwater System Revenue                      | COACHELLA VLY CA WTR DIST STORMWTR SYS REVENUE COPS          | CUSIP: 18985FAW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1313118.88   | 0.36%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Contra Costa Water District                                                    | CONTRA COSTA CA WTR DIST                                     | CUSIP: 212218TY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2424320.51   | 0.67%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cupertino Union School District                                                | CUPERTINO CA UNION SCH DIST                                  | CUSIP: 231237H68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4002923.20   | 1.10%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dublin Unified School District                                                 | DUBLIN CA UNIF SCH DIST                                      | CUSIP: 26362VSY5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6625000 | PA      | $6540642.55   | 1.79%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Bay Municipal Utility District Water System Revenue                       | EAST BAY CA MUNI UTILITY DIST WTR SYS REVENUE                | CUSIP: 271014D66<br>LEI: 549300IZZ5HKLDKRTF96 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1731137.30   | 0.48%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Folsom Cordova Unified School District School Facilities Improvement Dist No 5 | FOLSOM CORDOVA CA UNIF SCH DIST SCH FACS IMPT DIST #5        | CUSIP: 34440VBQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6010515.00   | 1.65%             | 2041-10-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fremont Union High School District                                             | FREMONT CA UNION HIGH SCH DIST SANTA CLARA CNTY              | CUSIP: 357172L94<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3685000 | PA      | $3662075.98   | 1.00%             | 2048-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                       | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT  | CUSIP: 38122NB84<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12875000 | PA      | $1363611.85   | 0.37%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corp                                       | GOLDEN ST TOBACCO SECURITIZATION CORP CA TOBACCO SETTLEMENT  | CUSIP: 38122ND90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18770000 | PA      | $18629155.55  | 5.11%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Grossmont Union High School District                                           | GROSSMONT CA UNION HIGH SCH DIST                             | CUSIP: 399262SN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5115000 | PA      | $5028633.74   | 1.38%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Long Beach CA Harbor Revenue                                           | LONG BEACH CA HARBOR REVENUE                                 | CUSIP: 542424VC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5097994.50   | 1.40%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Long Beach CA Harbor Revenue                                           | LONG BEACH CA HARBOR REVENUE                                 | CUSIP: 542424VE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1480000 | PA      | $1505520.23   | 0.41%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 5444456H7<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5350399.50   | 1.47%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445C64<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1402986.31   | 0.39%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445C80<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   3900000 | PA      | $4080578.19   | 1.12%             | 2047-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445CA5<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1090000 | PA      | $1097789.25   | 0.30%             | 2036-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445CB3<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6024214.80   | 1.65%             | 2041-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445CC1<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   7860000 | PA      | $7876513.07   | 2.16%             | 2046-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445E96<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   3490000 | PA      | $3819396.32   | 1.05%             | 2040-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445F46<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4502601.73   | 1.24%             | 2047-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445GB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4130000 | PA      | $4171634.94   | 1.14%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445GY9<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1519623.30   | 0.42%             | 2048-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445SV2<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   4450000 | PA      | $4705563.95   | 1.29%             | 2040-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mt San Antonio Community College District                                      | MOUNT SAN ANTONIO CA CMNTY CLG DIST                          | CUSIP: 623040KE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2394626.25   | 0.66%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mt San Antonio Community College District                                      | MOUNT SAN ANTONIO CA CMNTY CLG DIST                          | CUSIP: 623040PZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3352476.75   | 0.92%             | 2049-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Mt San Antonio Community College District                                      | MOUNT SAN ANTONIO CA CMNTY CLG DIST                          | CUSIP: 623040QK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3849549.12   | 1.06%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mount San Jacinto Community College District                                   | MOUNT SAN JACINTO CA CMNTY CLG DIST                          | CUSIP: 623053BW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1996394.60   | 0.55%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Napa Valley Unified School District                                            | NAPA VLY CA UNIF SCH DIST                                    | CUSIP: 630362CX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2925000 | PA      | $2935646.12   | 0.81%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Hampshire Business Finance Authority                                       | NATIONAL FIN AUTH NH MUNI CTFS                               | CUSIP: 63607WBB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5296185 | PA      | $5217212.11   | 1.43%             | 2039-07-20      | Floating      | 3.81%                 | No            |                  2 | On Loan: No      |
| Novato Unified School District/CA                                              | NOVATO CA UNIF SCH DIST                                      | CUSIP: 669878FC9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4385000 | PA      | $4360126.53   | 1.20%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pajaro Valley Unified School District                                          | PAJARO VLY CA UNIF SCH DIST                                  | CUSIP: 695802SE9<br>LEI: 549300WHZ2OWRXQ3OY05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065479.20   | 0.29%             | 2049-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                         | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1719000 | PA      | $1625317.94   | 0.45%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                         | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9405000 | PA      | $9134518.78   | 2.51%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                         | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4520000 | PA      | $1573106.90   | 0.43%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                         | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2530000 | PA      | $2379202.89   | 0.65%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Sacramento Area Flood Control Agency                                           | SACRAMENTO CA AREA FLOOD CONTROL AGY                         | CUSIP: 785840JQ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3985388.40   | 1.09%             | 2047-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Unified School District/CA                                     | SACRAMENTO CITY CA UNIF SCH DIST                             | CUSIP: 785870R32<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2111324.20   | 0.58%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento Municipal Utility District                                          | SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE                 | CUSIP: 786005C89<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |  23000000 | PA      | $22645429.70  | 6.21%             | 2045-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sacramento Municipal Utility District                                          | SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE                 | CUSIP: 786005K49<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083388.20   | 0.30%             | 2045-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Sacramento CA Airport System Revenue                                 | SACRAMENTO CNTY CA ARPT SYS REVENUE                          | CUSIP: 786107RY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1027919.50   | 0.28%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salinas Union High School District                                             | SALINAS CA UNION HIGH SCH DIST                               | CUSIP: 794896HH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1606466.40   | 0.44%             | 2050-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                           | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 7973558V9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4035000 | PA      | $4008639.35   | 1.10%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                           | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797356JN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3194265.30   | 0.88%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                           | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797356PX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2537556.64   | 0.70%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                           | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797356TV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2790000 | PA      | $2984368.42   | 0.82%             | 2050-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                    | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GGP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3006506.70   | 0.83%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                    | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GRK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6890000 | PA      | $7135989.54   | 1.96%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                    | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GTD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4300000 | PA      | $4566450.36   | 1.25%             | 2050-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City & County of San Francisco CA                                              | SAN FRANCISCO CITY & CNTY CA COPS                            | CUSIP: 79765D2G4<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |   6635000 | PA      | $6653534.21   | 1.83%             | 2040-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Bay Area Rapid Transit District                                  | SAN FRANCISCO CA BAY AREA RAPID TRANSIT DIST                 | CUSIP: 797661WR2<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   2290000 | PA      | $2332786.82   | 0.64%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport   | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DLF4<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   6130000 | PA      | $6211802.40   | 1.70%             | 2043-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport   | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DMB2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4047334.40   | 1.11%             | 2049-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport   | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DWV7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   2950000 | PA      | $3152226.34   | 0.87%             | 2043-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Public Utilities Commission Wastewater Revenue     | SAN FRANCISCO CITY & CNTY CA PUBLIC UTILS COMMISSION WSTWTR  | CUSIP: 79768HKN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2111939.19   | 0.58%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                             | SAN JOSE CA ARPT REVENUE                                     | CUSIP: 798136VR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1298413.18   | 0.36%             | 2037-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Jose Financing Authority                                                   | SAN JOSE CA FING AUTH WSTWTR REVENUE                         | CUSIP: 79816NAZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1826073.77   | 0.50%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Jose Evergreen Community College District                                  | SAN JOSE CA EVERGREEN CMNTY CLG DIST                         | CUSIP: 798189TG1<br>LEI: 5493006H31JIFYW6Z091 | Long             | DBT              | MUN               | US        |   3740000 | PA      | $3740718.83   | 1.03%             | 2045-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Mateo Joint Powers Financing Authority                                     | SAN MATEO CNTY CA JT PWRS FING AUTH LEASE REVENUE            | CUSIP: 79904NGP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1965000 | PA      | $2036414.19   | 0.56%             | 2043-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Mateo Foster City Public Financing Authority                               | SAN MATEO FOSTER CITY CA PUBLIC FING AUTH WSTWTR REVENUE     | CUSIP: 79905VAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10485000 | PA      | $10429867.77  | 2.86%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santa Ana Public Financing Authority                                           | SANTA ANA CA PUBLIC FING AUTH WTR REVENUE                    | CUSIP: 801144AX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1802177.93   | 0.49%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara Unified School District                                            | SANTA CLARA CA UNIF SCH DIST                                 | CUSIP: 801495P63<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5009960.50   | 1.37%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara County Financing Authority                                         | SANTA CLARA CNTY CA FING AUTH                                | CUSIP: 801577NK9<br>LEI: 549300A73O1Q5POHAT69 | Long             | DBT              | MUN               | US        |   3575000 | PA      | $3492440.38   | 0.96%             | 2045-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tamalpais Union High School District                                           | TAMALPAIS CA UNION HIGH SCH DIST                             | CUSIP: 874857LR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4670000 | PA      | $4641332.27   | 1.27%             | 2047-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Tamalpais Union High School District                                           | TAMALPAIS CA UNION HIGH SCH DIST                             | CUSIP: 874857LT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2507483.25   | 0.69%             | 2049-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Tamalpais Union High School District                                           | TAMALPAIS CA UNION HIGH SCH DIST                             | CUSIP: 874857LU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6605000 | PA      | $6608516.50   | 1.81%             | 2050-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center Pooled Revenue          | UNIV OF CALIFORNIA CA RGTS MED CENTER POOLED REVENUE         | CUSIP: 913366KS8<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |  15624998 | PA      | $16378195.27  | 4.49%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Metropolitan Transportation Authority Sales Tax Revenue     | LOS ANGELES CNTY CA MET TRANSPRTN AUTH SALES TAX REVENUE     | CUSIP: 54466HHF6<br>LEI: 54930051IHTXE1N9RB42 | Long             | DBT              | MUN               | US        |  11200000 | PA      | $11645827.20  | 3.20%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                         | Los Angeles Unified School District/CA                       | CUSIP: 544647GD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10759303.00  | 2.95%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Clovis Unified School District                                                 | Clovis Unified School District                               | CUSIP: 189342Q68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10404251.00  | 2.86%             | 2047-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Public Utilities Commission Wastewater Revenue     | SAN FRANCISCO CITY & CNTY CA PUBLIC UTILS COMMISSION WSTWTR  | CUSIP: 79768HFU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12790000 | PA      | $12230546.22  | 3.36%             | 2049-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport   | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DRK7<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |  16734994 | PA      | $16802189.95  | 4.61%             | 2047-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                     | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 5444453B3<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |  19365000 | PA      | $20445202.94  | 5.61%             | 2050-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of California                                                            | CALIFORNIA ST                                                | CUSIP: 13063ELM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8750000 | PA      | $9410179.63   | 2.58%             | 2049-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport   | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DVY2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   9600000 | PA      | $10328346.24  | 2.83%             | 2048-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California State University                                                    | CALIFORNIA ST UNIV REVENUE                                   | CUSIP: 13077DWF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $21771240.00  | 5.97%             | 2050-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California State University                                                    | CALIFORNIA ST UNIV REVENUE                                   | CUSIP: 13077DEY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10070000 | PA      | $10334607.38  | 2.84%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Regents of the University of California Medical Center Pooled Revenue          | UNIV OF CALIFORNIA CA RGTS MED CENTER POOLED REVENUE         | CUSIP: 913366KS8<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10482046.00  | 2.88%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Securitization Authority of Southern California                        | TOBACCO SECURITIZATION AUTH STHRN CA TOBACCO SETTLEMENT REVE | CUSIP: 888804CR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7030000 | PA      | $7042036.77   | 1.93%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                       | UNIV OF CALIFORNIA REVENUES                                  | CUSIP: 91412GY25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8440000 | PA      | $8589567.77   | 2.36%             | 2047-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Valley-Mission Community College District                                 | W VLY-MISSION CA CMNTY CLG DIST                              | CUSIP: 95640HEX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4775000 | PA      | $4775736.78   | 1.31%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| West Valley-Mission Community College District                                 | W VLY-MISSION CA CMNTY CLG DIST                              | CUSIP: 95640HJL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4021218.40   | 1.10%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BlackRock Liquidity Funds                                                      | BlackRock Liquidity Funds: MuniCash, Institutional Shares    | CUSIP: 09248U841<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   9222802 | NS      | $9223724.15   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-28

**Name of Applicant:** BlackRock California Municipal Income Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer